Global Intelligent Transportation Systems Market to Grow at a CAGR of over 10% through 2020
Increasing vehicular congestion coupled with
favorable government initiatives to fuel growth in global ITS market through
2020
Global Intelligent Transportation
Systems (ITS) market witnessed a
significant growth over the last few years due to implementation of various traffic
management and mass transit system projects across various countries. In 2014,
traffic management application dominated the global ITS market on account of increasing
ITS deployment for ensuring smooth and safer transportation. Further, investments
in connected vehicle technology and improved telematics is expected to drive
growth in the ITS market, globally, over next five years. Due to growing need
for improving traffic mobility and reducing carbon emissions, electronic toll
collection and environmental protection applications are also hugely
contributing to the growth of global ITS market.
According to the recently published report by
TechSci Research “Global Intelligent Transportation Systems Market By System (ATMS, ATPS, ATIS, etc.), By Application (Traffic Management, Electronic Toll Management, Parking Management, etc.) and Competition Forecast and Opportunities, 2010-2020”, the global ITS market is projected to register a CAGR
of more than 10% during 2015 - 2020. The report reveals that increasing
public-private partnerships and government focus towards better transportation
is attracting investments for ITS deployments across the globe. Global ITS
market is highly fragmented with the presence of various ITS players competing in
the global marketplace. Few of the leading global ITS players include Thales,
Xerox and Cubic. During 2010 - 2014, the leading revenue generating regions in
the global ITS market were Americas and Europe. Major application areas in the
global ITS market include traffic management, fleet management, toll management
and automatic monitoring applications.
Browse 8 market data Tables and 28 Figures spread through 148 Pages and an in-depth TOC on "Global Intelligent Transportation Systems Market"
“The market is witnessing an emerging trend of connected vehicles and smart
vehicles that are equipped with advanced security solutions and driver assist
features. Along with the primitive ITS deployments, global market will also
witness extensive use advanced data analytics in transportation during the
forecast period. This is anticipated to have a huge positive impact on the
global ITS market over the next five years.” said Mr. Karan Chechi, Research
Director with TechSci Research, a global management consulting firm.
“Global Intelligent Transportation Systems Market By System (ATMS, ATPS, ATIS, etc.), By Application (Traffic Management, Electronic Toll Management, Parking Management, etc.) and Competition Forecast and Opportunities, 2010-2020” has
evaluated the future growth potential of ITS deployments globally and provides
statistics and information on market structure, market size and trends. The
report includes ITS market projections and demand forecasting for the period
2015 - 2020. The report intends to provide cutting-edge market intelligence and
help decision makers take sound investment decision. Besides, the report also
identifies and analyzes the emerging market trends along with prominent
drivers, challenges and opportunities prevailing in the global ITS market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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