Intelligent Transport System (ITS) Market
Intelligent Transport System (ITS) Market [By Technology: Adaptive Cruise Control, Lane Keep Assist & Lane Departure Warning, Tire Monitoring System, Blind Spot Detection, Adaptive Front Light System, Night Vision System, Automatic Emergency Braking, Forward Collision System, Pedestrian Detection System, Road Sign Recognition, Traffic Jam Assist, Driver Monitoring System/ Drowsiness Monitor System ; By Component: LiDAR, RADAR, Camera, and Ultrasonic Sensor; By Vehicle Type: Passenger Vehicle and Commercial Vehicle] - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Intelligent Transport System Market: Introduction
- The global intelligent transportation system market is anticipated to expand at a CAGR of 12.9% between 2019 and 2027
- Intelligent transportation system (ITS) is majorly preferred for traffic management. Therefore, the traffic management segment held a major share of the market, as it presently has higher penetration. It accounted for 30.80% share of the market in 2018; however, the other segments are expected to challenge this segment during the forecast period.
- Advanced Traffic Management System (ATMS) was a major segment of the intelligent transportation system market, and it held 40.22% share of the global intelligent transportation system market in 2018.
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Key Drivers and Restraints of Global Intelligent Transport System Market
- Wireless technologies employed in the intelligent transportation system are evolving consistently to improve the interoperability and reliability of transportation networks. Wireless communication technologies are improving regularly to boost the application of intelligent transportation system, irrespective of the distance traveled by the vehicle.
- Demand for intelligent transportation system is increasing due to a rise in the number of vehicles on roads, which are facing increasing issues such as heavy traffic and accidents. Consequently, governments of various countries are adopting the intelligent transportation system to reduce the impact of such problems. These are the key factors driving the intelligent transportation system market.
- Wireless communication technologies are used for diverse applications in the intelligent transportation system including electronic toll charging (ETC), vehicle navigation systems, and other advanced traveler information systems.
- A new technology introduced was the 5.9 MHz DSRC system, which can be used to improve the performance and efficiency of toll systems on highways. Europe has incorporated the ETC technology on its highways.
- Standardization and continuous development of the DSRC technology are expected to increase its applications in the field of V2X communication systems to reduce accidents and improve road safety
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Global Intelligent Transport System Market: Segmentation
- The global Intelligent Transport System market has been segmented based on type, application, , and geography
- Based on type, the advanced transportation management systems (ATMS) segment held a prominent share of the intelligent transportation system market. The ATMS segment is expected to maintain its position in the market; however, it is expected to be challenged by other segments, which can hamper its share in the market. ATMS has been the dominant segment of the market in the last few years due to an increase in demand for traffic management solutions, particularly for adaptive signaling systems, across the globe. Highway operators worldwide are installing electronic toll charging systems, which would reduce the traffic at toll centers.
- The advanced public transportation segment is projected to expand at a rapid pace during the forecast period. Various public transport operators are focused on investing in dynamic display systems and electronic fare collection systems.
- Based on application, traffic management was the dominant segment in 2018 due to higher application of the ITS in traffic management. Investments by governments to control traffic and provide fast & efficient solutions for traffic management is a major factor driving the segment
Global Intelligent Transport System Market: Regional Segmentation
- Based on region, the global Intelligent Transport System market can be segregated into North America, Asia Pacific, Europe, and Rest of World
- In terms of region, equal participation from both public and private sectors is a key reason for North America to hold a prominent share of the global market. The market in Asia Pacific is estimated to expand at a rapid pace during the forecast period. The U.S., U.K., and Japan are developed markets for intelligent transportation system and their governments have invested heavily in these advanced technologies.
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Key Players Operating in Global Intelligent Transport System Market:
- WS Atkins PLC
- Siemens AG
- Thales Group
- Nuance Communications Incorporation
- Garmin International Inc.
- Hitachi Ltd.
- EFKON AG
- Iteris Inc.
- Telenav Inc.
- TomTom NV
Global Intelligent Transport System Market: Research Scope
Global Intelligent Transport System Market, by Type
- Cooperative Systems
Global Intelligent Transport System Market, by Application
- Traffic Management
- Road Safety and Surveillance
- Freight Management
- Public Transport
- Environment Protection
- Automotive Telematics
- Parking Management
- Road User Charging
- Automated Vehicle
Global Intelligent Transport System Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East of Africa
- South Africa
- Rest of Middle East & Africa
Intelligent Transport System (ITS) Market – Scope of the Report
Transparency Market Research’s recent report on the Intelligent Transport System (ITS) market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the intelligent transport system (ITS) market analyzes the scenario for the period of 2019 to 2027, wherein, 2018 is the base year and 2017 and before is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This TMR study on the intelligent transport system (ITS) market also provides data on the developments made by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of the strengths, weaknesses, threats, and opportunities, along with the trends and restraints in the landscape. Presented in a clear sanctioned manner, this report on the intelligent transport system (ITS) market gives readers an individual understanding of the market.
This study also discusses the underlying trends and the impact of various factors that are driving the intelligent transport system (ITS) market, along with their influence on the evolution of the market.
This study also offers Porter’s Five Point Analysis, value chain analysis, regulatory scenario, and a SWOT analysis of the intelligent transport system (ITS) market, in order to elaborate the crucial growth tactics and opportunities for market players contributing to the market.
Key Questions Answered in this report on the Intelligent Transport System (ITS) market
- How much revenue will the intelligent transport system (ITS) market generate by the end of the forecast period?
- Which segment of the market is likely to have the maximum market share by 2027?
- What are the impact factors and there effects on the market for Intelligent Transport System (ITS)
- What regions currently contribute the maximum share to the overall Intelligent Transport System (ITS) market?
- What are the indicators expected to drive the intelligent transport system (ITS) market?
- What region is likely to be a lucrative market during the forecast period?
- What are the essential strategies by key stakeholders in the intelligent transport system (ITS) market to expand their geographic presence?
- What are the major advancements witnessed in the intelligent transport system (ITS) market?
- How regulatory norms affected the market for intelligent transport system (ITS) market?
This report answers these questions and more about the Intelligent Transport System (ITS) market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Intelligent Transport System (ITS) Market: Research Methodology
This TMR report on the intelligent transport system (ITS) market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. Market volume is determined by country wise model mapping of vehicle through internal & external proprietary databases, and relevant patent and regulatory databases. The competitive scenario of the intelligent transport system (ITS) market is supported by an assessment of the different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data, current trends and announcement by the key players, researchers of the intelligent transport system (ITS) market arrive at predictions and estimations, and calculate the forecast for the market.
This report uses an analytical triangulation method to estimate the numbers and figures of the intelligent transport system (ITS) market, with both a bottom-up and top-down approach
This detailed assessment of the intelligent transport system (ITS) market, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the intelligent transport system (ITS) market is estimated to expand are based on carefully vetted primary and secondary sources.
Intelligent Transport System (ITS) Market: Segmentation
This report on the intelligent transport system (ITS) market provides information on the Type, Application, and Region
Road Safety and Surveillance
Road User Charging
Middle East & Africa