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(USGovernment-News.Com, June 22, 2016 ) The increasing number of vehicles leading to traffic congestion has contributed to the need of intelligent transportation system for advance traffic control measures, thereby, propelling the global ITS market. In addition, the global ITS market is bolstered as various governments across the world are framing specific programs and taking initiatives to implement ITS, owing to an alarming need of deploying an efficient transportation system. For instance, the U.S. Department of Transport (DOT) is focusing extensively upon manufacturing intelligent vehicles and deploying intelligent infrastructure. The U.S. DOT has started a Federal ITS program with an aim to make research initiatives, investigative study and support the deployment of the intelligent system through an organized investment. Furthermore, the implementation of ITS can contribute in significant pollution reduction, thereby, benefiting the environment.
The major factor hindering the global ITS market is the slow growth of intelligent infrastructure owing to high installation cost for monitoring and controlling devices. Another key factor restricting the global ITS market is the lack of standardization and interoperability between different types of transportation and telecom technologies. However, the introduction of smart vehicles enabled with intelligent transportation system is expected to provide better driving experience, and is thus expected to contribute significantly towards the growth of the global ITS market. Another factor analyzed to propel the growth of intelligent transportation systems is public private partnerships (PPP) for advanced traffic management. Also, initiatives such as vehicle to infrastructure (V2I) and vehicle to vehicle (V2V) communication are estimated to be key factors boosting the global intelligent transportation system market.
The intelligent transportation system market has been segmented on the basis of system into advanced traveler information system (ATIS), advanced public transportation system (APTS), advanced traffic management system (ATMS), advanced transportation pricing system (ATPS), commercial vehicle operation (CVO), and ITS-enabled transportation pricing system. Additionally, the intelligent transportation system market has been fragmented based on components such as interface board, sensors, surveillance camera, monitoring & detection systems, telecommunication network, and software among others. In addition, the intelligent transportation system market has been segmented based on applications, namely: traffic signal control system, traffic monitoring system, fleet management & asset monitoring system, parking availability system, traffic enforcement camera, collision avoidance system, and automotive telematics among others.
Geography, the global ITS market has been segmented into five regions as North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM). Presently North America, followed by Europe, leads the global ITS market owing to increased investment in ITS solutions from both public and private domains.
Some of the key players operating within the global ITS market include Agero, Inc., Xerox Corporation, Lanner Electronics Incorporated, Nuance Communications, Inc., Denso Corporation, Q-Free ASA, Siemens AG, Hitachi, Ltd., WS Atkins PLC, EFKON AG, Iteris, Inc., Garmin Ltd., Telenav, Inc., TomTom International BV, Kapsch TrafficCom AG, Thales Group, TransCore, LP, Addco LLC, Agero, Inc., Ricardo plc, and Sensys Networks, Inc. among others.
Few Key Points from Table of Content
7 Global Intelligent Transport System Market Analysis 7.1 Global Sales Revenue and Forecasts to 2025 7.2 Global Intelligent Transport System Market, Competitive Landscape 7.2.1 Market Share or Market Positioning of Key Players, 2014
8 Global Intelligent Transport System Market Revenue and Forecasts to 2025 - Systems 8.1 Overview 8.1.1 Segment Share (%), 2014 & 2025 8.2 Advanced Traveler Information System (ATIS) 8.3 Advanced Public Transportation System (APTS) 8.4 Advanced Traffic Management System (ATMS) 8.5 Advanced Transportation Pricing System (ATPS) 8.6 Commercial Vehicle Operation (CVO) 8.7 ITS-Enabled Transportation Pricing System
9 Global Intelligent Transport System Market Revenue and Forecasts to 2025 - Components 9.1 Overview 9.1.1 Segment Share (%), 2014 & 2025 9.2 Interface Board 9.3 Sensors 9.4 Surveillance Camera 9.5 Monitoring & Detection Systems 9.6 Telecommunication Network 9.7 Others (Software, etc.)
10 Global Intelligent Transport System Market Revenue and Forecasts to 2025 - Applications 10.1 Overview 10.1.1 Segment Share (%), 2014 & 2025 10.2 Traffic Signal Control System 10.3 Traffic Monitoring System 10.4 Fleet Management & Asset Monitoring System 10.5 Parking Availability System 10.6 Traffic Enforcement Camera 10.7 Collision Avoidance System 10.8 Others (Automotive Telematics, etc.)
12 Global Intelligent Transport System Market, Key Company Profiles Included Key Facts, Business Description, Financial Overview, SWOT Analysis and Key Developments 12.1 Agero, Inc. 12.2 Xerox Corporation 12.3 Lanner Electronics Incorporated 12.4 Nuance Communications, Inc. 12.5 Denso Corporation 12.6 Q-Free ASA 12.7 Siemens AG 12.8 Hitachi, Ltd. 12.9 WS Atkins PLC 12.10 EFKON AG 12.11 Iteris, Inc. 12.12 Garmin Ltd. 12.13 Telenav, Inc. 12.14 TomTom International BV 12.15 Kapsch TrafficCom AG 12.16 Thales Group 12.17 TransCore, LP 12.18 Addco LLC 12.19 Agero, Inc. 12.20 Ricardo plc 12.21 Sensys Networks, Inc.
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