The major vendors in Intelligent Transportation System Market are Thales (France), Siemens (Germany), Garmin (Switzerland), Kapsch TrafficCom (Austria), TomTom (Netherlands), Cubic (US), Q-Free (Norway), EFKON (Austria), FLIR Systems (US), Denso (Japan), and so on. These players adopted various strategies such as product launches and developments, contracts, acquisitions, partnerships, and business expansions to cater to the needs of the market.
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The intelligent transportation system market in roadways was valued at USD 21.88 Billion in 2017 and is expected to be worth USD 30.74 Billion by 2023, growing at a CAGR of 5.65% during the forecast period. The base year considered for this report is 2017, and the forecast period for the market has been considered between 2018 and 2023.
Intelligent Transportation System Market in Roadways, by System:
- Advanced Traffic Management System
- Advanced Traveler Information System
- ITS-Enabled Transportation Pricing System
- Advanced Public Transportation System
- Commercial Vehicle Operation
Intelligent Transportation System market in Roadways, by Application:
- Fleet Management and Asset Monitoring
- Intelligent Traffic Control
- Collision Avoidance
- Parking Management
- Passenger Information Management
- Ticketing Management
- Emergency Vehicle Notification
- Automotive Telematics
Intelligent transportation system market is largely dominated by North America and Europe because of the strong presence of key players offering ITS products in these regions.
North America held largest share of global ITS market in 2017, while APAC is most promising region for ITS market, & market in APAC is expected to witness highest CAGR because of increasing number of megacities & growing population in developed & developing countries.
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Objective of this report is to define, describe, & forecast market size & growth potential of ITS market in roadways across different segments like offering, system, application, & geography. It includes forecast of market size, in terms of value, with respect to 4 regions North America, Europe, APAC, and RoW.
Study identifies & analyzes market dynamics like drivers, restraints, opportunities, & challenges for market.
Key Target Audience:
- Component and equipment suppliers
- Original equipment manufacturers (OEMs)
- Original design manufacturers (ODMs)
- Installers and maintenance service providers
- Research organizations
- Component integrators
- Technology providers
The intelligent traffic control application held the largest share in 2017. This involves a much closer interaction between all of its constituents: drivers, pedestrians, public transportation, and traffic management systems.
Adaptive signal systems, driver advisory and route planning, and automated vehicles are some of the goals set up to increase the efficiency of actual systems.
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In this report, segments such as offering, system, application, and geography have been covered. The report also discusses drivers, restraints, opportunities, and challenges pertaining to the market.
The report gives a detailed view of the market across 4 main regions: North America, Europe, APAC, and RoW. Value chain analysis has also been included in the report.
Reasons to Access the Report:
- This report includes statistics pertaining to the ITS market in roadways, by offering, system, application, and geography, along with market size of each sub segment.
- Major drivers, restraints, opportunities, and challenges for the market have been provided in detail in this report.
- This report would help stakeholders to understand their competitors better and gain more insights to enhance their company’s position in the market. The competitive landscape section includes competitor ecosystem and recent development strategies adopted by the key players in the market such as product launches and developments, partnerships, and mergers and acquisitions.
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