According to a new market research report published by Global Insight Services “Intelligent Transportation System Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
An Intelligent Transportation System (ITS) is a technology that is used to manage transportation systems and infrastructure. ITS can be used to help reduce traffic congestion, improve safety, and increase efficiency.
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Key Players
- Addco
- Agero, Inc.
- Denso Corporation
- EFKON GmbH
- Hitachi, Ltd.
- Garmin Ltd.
- Thales Group
Key Trends
One of the key trends in Intelligent Transportation System (ITS) technology is the development of connected and automated vehicles (CAVs). CAVs are equipped with sensors and other technology that allows them to communicate with each other and with infrastructure such as traffic lights and road signs. This communication allows the vehicles to share information about their speed and location, and to coordinate their movements to avoid collisions and traffic congestion.
Another key trend in ITS technology is the development of data-driven transportation systems. These systems use data from sensors and other sources to monitor traffic conditions and to optimize the flow of traffic. Data-driven transportation systems can help to reduce traffic congestion and to improve the efficiency of the transportation system.
Key Drivers
The key drivers of ITS market are:
Increasing demand for connectivity: There is a growing demand for connectivity between various transportation systems and vehicles. This is driven by the need for real-time information exchange between different stakeholders in the transportation system.
Advancements in technology: There have been various advancements in technology, which have led to the development of more sophisticated ITS systems. These advancements include the development of 5G technology, which will enable faster and more reliable communication between different devices.
Increasing government initiatives: Various governments around the world are investing in ITS systems to improve the efficiency of their transportation systems. For example, the US government has invested over $1 billion in ITS research and development.
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Market Segments
By Type
- Advanced Traveler Information System (ATIS)
- Advanced Traffic Management System (ATMS)
- Advanced Transportation Pricing System (ATPS)
- Advanced Public Transportation System (APTS)
- Emergency Medical System (EMS)
By Application
- Traffic Management
- Road Safety and Security
- Freight Management
- Public Transport
- Environment Protection
- Automotive Telematics
- Parking Management
- Road Tolling Systems
Reasons to buy Intelligent Transportation System Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
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About Global Insight Services:
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