Intelligent transportation system (ITS) is advanced application which aim to deliver innovative services relating to different modes of transport and traffic management. ITS enable users to be better informed and make more coordinated and make use of transport networks smarter. ITS includes car navigation, security CCTV system, parking guidance and information systems, traffic signal control systems and more advanced applications which uses services like cloud service and big data.
Major driving factors for this market are increasing level of population and government initiatives towards development of smart cities. However, slow growth of infrastructure in the developing countries and high cost of installation are major restraining factors for this market. Development of smart cities and smart vehicles that operates on intelligent system is creating future opportunities for the intelligent transportation system market.
The intelligent transportation system market is segmented into product type, application and geography. On the basis of type, the intelligent transportation system market is segmented into ATPS, ATIS, ATMS, APTS, ANPR and cooperative systems. On the basis of application, the market is segmented into road safety and surveillance, public transport, freight management, traffic management, automotive telematics, environment protection, automated vehicles, road user charging and parking management.
The geographic segment is bifurcated as following: North America bifurcated into the U.S., Canada and Mexico, whereas Europe has been further segmented into Germany, France, United Kingdom, Spain and Others. The countries covered under Asia-Pacific are China, India, Japan, South Korea, and Others. Rest of the world (RoW) includes South America, Middle East and Africa.
Major players for intelligent transportation system market are Garmin Ltd., Siemens, Tomtom International BV, Thales Group, Denso Corporation, Q-Free ASA,Denso Corporation, Efcon International, Transcore Inc.,Lanner Electronics, Iteris Inc., Ricardo plc, and Savari Inc. among others.
The key takeaways from the report
• The report will provide detailed analysis of ITS market with respect to major segments such as product type and application of the market.
• The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024.
• Comprehensive analysis of market dynamics including factors and opportunities.
• An exhaustive regional analysis ITS market.
• Profile of key players of the ITS market, which include key financials, product & services and new developments.
Scope of Intelligent Transportation System Market
Product Type Segments
• cooperative systems
• Road Safety and Surveillance
• Public Transport
• Freight Management
• Traffic Management
• Automotive Telematics
• Environment Protection
• Automated Vehicles
• Road User Charging
• Parking Management
• North America
o United Kingdom
o South Korea
o South America
o Middle East