The
growing need to improve the performance of existing transportation
networks and escalating focus on road safety have emerged as major
contributors of the global intelligent transportation systems (ITS)
market, according to a report published by Transparency Market
Research. The study, titled “Intelligent Transportation System
(ITS) Market - Global Industry Analysis, Size, Share, Growth, Trends
and Forecast 2013 - 2019”, indicates that registering a strong CAGR
of 11.1% from 2013 to 2019, the global ITS market is likely to reach
a value of US$30.2 billion by 2019.
Browse
the full Intelligent Transportation System (ITS) Market Report at
http://www.transparencymarketresearch.com/intelligent-transportation-system-market.html
Improving
standardization in wireless communication technologies is an area of
immense potential and the ITS market is estimated to develop at a
strong pace over the next four years driven by this opportunity.
However, lack of interoperability between intelligent transportation
systems and available infrastructure is expected to hamper the growth
of the global ITS market back. In addition, the global economic
slowdown is also anticipated to have an adverse impact on the
performance of the market.
By
type, the ITS market is categorized into advanced transportation
pricing systems (ATPS), advanced traveler information systems (ATIS),
advanced transportation management systems (ATMS), and advanced
public transportation systems (APTS). Of these, ATMS held the largest
share of the overall market owing to growing demand for traffic
control solutions such as adaptive signaling systems. However,
investments in dynamic display systems and electronic fare collection
are expected to boost the market for APTS over the coming years.
On
the basis of application, the ITS market is segmented into road
safety and surveillance, road user charging, parking management,
public transport, environment protection, freight management,
automotive telematics, and traffic management. Rising investments
have driven the use of ITS in traffic management, making it the
largest application segment in 2012. However, with countries around
the world working to curb vehicle emissions, the segment of
environment protection is likely to develop at the fastest pace.
Geographically,
the ITS market is divided into North America, Asia Pacific, Europe,
and Rest of the World. North America dominated the global market in
2012, holding 42.2% of the total revenue generated. The demand for
ITS systems in the public as well as private sector is driven by
government initiatives and promotional activities, particularly in
the U.S. While huge investment opportunities are anticipated to fuel
the Asia Pacific ITS market, especially in countries such as China,
Thailand, India, and Malaysia, economic development in the Middle
East, South America, as well as Africa is also expected to boost the
global ITS market.
The
notable companies profiled in the ITS market are Garmin International
Inc., Sensys Networks Incorporation, Telenav, Inc., Hitachi Ltd,
Lanner Electronics Inc., ADCCO LLC, Siemens AG, TransCore Inc.,
Kapsch TrafficCom AG, Q-Free ASA, Nuance Communications
Incorporation, Agero Inc., Iteris, Inc., Ricardo PLC, Xerox
Corporation, EFKON AG, DENSO Corporation, Thales Group, WS Atkins
PLC, and TomTom NV.
Global
Intelligent Transportation System Market, by Type
Advanced
traveler information systems (ATIS)
Advanced
transportation management systems (ATMS)
Advanced
transportation pricing systems (ATPS)
Advanced
public transportation systems (APTS)
Cooperative
systems
Global
Intelligent Transportation System Market, by Application
Traffic
management
Road
safety and surveillance
Freight
management
Public
transport
Environment
protection
Automotive
telematics
Parking
management
Road
user charging
Global
Intelligent Transportation System Market, by Geography
North
America
U.S.
Canada
Mexico
Europe
UK
Germany
Italy
Russia
Rest
of Europe
Asia-Pacific
Australia
China
India
Japan
Singapore
Korea
Rest
of Asia-Pacific
Rest
of the World
Middle
East
South
America
Africa
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Us:
Transparency
Market Research (TMR) is a global market intelligence company
providing business information reports and services. The company’s
exclusive blend of quantitative forecasting and trend analysis
provides forward-looking insight for thousands of decision makers.
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use proprietary data sources and various tools and techniques to
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material for business reports.
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