India Intelligent Transportation System (ITS) Market is expected to Register a high CAGR in the Forecast Period
Rising traffic congestion and road accidents are
driving the India Intelligent Transportation System market between 2018- 2028.
According to TechSci Research
report, “India Intelligent Transportation System Market - By Region, Competition
Forecast & Opportunities, 2018-2028,” the India Intelligent Transportation
System Market is expected to register robust growth during the forecast period,
2024-2028. Intelligent transportation system (ITS)
is the use of sensing, analysis, control, and communications technology to
ground transportation to increase safety, mobility, and efficiency. ITS
encompasses a wide range of applications that analyze and communicate
information in order to reduce congestion, enhance traffic management, reduce
environmental impact, and boost the advantages of transportation to business
customers and the general public.
Intelligent Transportation
Systems (ITS) are developed to address transportation security, emission, and
traffic density concerns, and are widely employed across the world,
particularly in the United States and Europe. In highway and tunnel
developments, an intelligent transportation system is designed in accordance
with user demands and infrastructure by utilizing cutting-edge technology and
communication channels. India will be a potential market in the future, as the
country's transportation infrastructure transforms and advances roads and
transit to meet international standards.
Furthermore, increased
awareness regarding an upgraded safety mechanism such as ITS assuring commuter
safety and providing them with previous traffic information is boosting its
appeal in India. The technology is being installed systematically across sites
since it provides accident detection and trigger notifications to ensure the
prompt arrival of an ambulance within 15 minutes. It also creates an
opportunity for the leading companies to expand their development, production,
and distribution capacity to meet expanding demand. Furthermore, various
government projects, such as InTranSE, the Collaborative Intelligent
Transportation Systems Endeavor for Indian Cities (InTranSE) to enhance India's
traffic scenario, are projecting a broad potential for sophisticated ITS in the
nation, adding to overall industry growth.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on the "India Intelligent Transportation System Market.”
Transportation infrastructure
is becoming increasingly future-ready as the number of autonomous and connected
vehicles on the road grows. Furthermore, transportation authorities must plan
for the future. Many ITS service providers offer expertise in solution and
system design, planning, implementation, and job completion. As a result of
growing urbanization, rising disposable incomes, and the need for contemporary
autos to simplify the driving experience, many transportation service providers
have sought a well-connected transportation system, improved infrastructure,
and higher road safety.
In addition, upcoming smart
cities project, better communication networks, and government initiatives for
smart development in India will create new market opportunities.
Key market
players in the India Intelligent Transportation System Market include:
- Tata
Group
- Siemens
India
- Urban Mass
Transit Company Limited
- Schneider
Electric India Pvt. Ltd
- Urban
Mass Transit Company Limited
- Mobisoft
Infotech LLC
- Kent
Intelligent Transportation Systems India Pvt Ltd
- NEC
Corporation India Pvt. Ltd
- AUM Infotech
Pvt Ltd
- ATT
India
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“During the projected period, Advanced Traffic Management
Systems (ATMS) are expected to make a significant contribution to the India
Intelligent Transportation System Market. It is mostly due to these systems'
capacities to optimize traffic flow and vehicle mobility, record real-time
traffic data via speed sensors and cameras, and take automatic action, among
other things. ATM use is rapidly rising across India as a result of these
benefits. Furthermore, growing awareness of other benefits such as increased
transportation system efficiency, improved safety, increased economic
productivity, reduced fuel consumption, and lower environmental costs, among
others, are contributing to the growing popularity and utilization of these
systems in India. Furthermore, the government's active engagement is
encouraging demand for ATMS, as the National Highways Authority of India (NHAI)
performed a test for the ATMS system on the Delhi-Meerut Expressway and the
Eastern Peripheral Expressway. As a result, it is creating chances for the
industry's leaders to expand their research, manufacturing, and distribution of
these systems for the rising installation throughout roads and motorways.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“India Intelligent Transportation System Market By Type (Advanced
Traffic Management System (ATMS), Advanced Traveler Information System (ATIS), Advanced
Public Transportation System (APTS), Advanced Transportation Pricing System
(ATPS), Others), By Applications (Traffic Monitoring & Management, Freight
Management, Public Transport Management, Road Tolling System, Parking Management, Others), By Deployment (On-Premises,
Cloud), By Region, Competition Forecast & Opportunities, 2028,” has assessed the India
Intelligent Transportation System market's future development potential and
provides data and information on market size, structure, and projected market
growth. The report's goal is to give current market knowledge and assist
decision makers in making informed investment decisions. Furthermore, the study
identifies and analyses emerging trends, as well as key drivers, constraints, and
opportunities in the India Intelligent Transportation System Market.
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