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Published on : Jul 25, 2017

Albany, New York, July 25, 2017: The report states the global intelligent transport system market is expected to rise at a CAGR of 8.70% during the period of 2017–2021.

The report has considered the revenue generated by various vendors through the global ITS market to calculate the market size. The whole 86 pages of information has a motive to deliver comprehensive insights into the various segments of the ITS market, to help investors gain better judgments about the future of ITS.

Every economy in the world today is looking forward to adopt intelligent transport system for more comfortable and faster transportation. The report states that the US, Singapore, and Japan are the leading countries for ITS market. But, because of increasing road traffic congestion, the ITS market is expected to witness more promising future demands in the Asia Pacific region. Geographically, the market is segregated in the report into America, Asia Pacific (APAC), and Europe, Middle East and Africa. Detailed information of the present state of development and future growth prospects of the ITS market for these regions has been evaluated and presented comprehensively in the report.

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To guide the readers through different standpoints regarding the market, this report has been segmented on the basis of various aspects. Meticulous description of key types of ITS and their significance on total share of the ITS market have been formulated. These types include automotive and infotainment telematics, freight and commercial ITS, network management systems, public transport ITS, road safety systems, communication ITS, and security and crime reduction ITS. 

A significant part of this report covers market drivers and challenges in the market, which could guide marketers through current and upcoming opportunities and pitfalls. Even though the leading vendors face challenges such as higher cost of setup and operation, they have found various opportunities that keep them stimulated. 

Information about key vendors, the challenges they are facing, along with their strategies to rule the market have been covered in the report. Along with the key vendors, including Neology, 3M, Kapsch Group, Q-Free, TransCore, and Siemens, this report also provides brief insights into other prominent vendors such as Traffic Tech, Agero, ADDCO LLC, DENSO CORPORATION, International Road Dynamics, EFKON, KLD Engineering, Peek Traffic Corporation, and Lanner.

As intelligent transportation systems reform infrastructure of cities, quality standards have been imparted on ITS. This report sheds light on impact of standardization of ITS and other similar emerging trends in this industry.

Other crucial concerns this report acknowledges include the market size by 2021, present and future market trends, major driving forces, details about aforementioned key vendors, market opportunities and threats faced by these vendors along with their strengths and weaknesses. Furthermore, this report guides through the leading innovations in ITS and competitive scenarios for investors.

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