An intelligent transport management system is integrated with Information and Communication Technology. ITS systems collect data about the transport system and process it to improve the management of the transport system.
Global Intelligent Transportation System Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of Global Intelligent Transportation System market which consists of regional and country-wise market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end users, applications, product type, technologies, competitive benchmarking, etc.
According to MarkNtel Advisors’ research report titled “Global Intelligent Transportation System Market Analysis, 2020”, the Global Intelligent Transportation System market is anticipated to grow at a CAGR of around 8.5% during 2020-25F. The ITS application is widely adopted by many developed and developing countries nowadays to enhance the roadside safety, provide real-time information for both public transport and private road transport, and reduce delays and stops at intersection. ITS is also used to create interconnected transportation systems which helps the commuter to have real-time information about the public transport which reduces travel time and makes traveling easier. Furthermore, robust growth in the demand and the production of vehicles, extensive R&D in independent vehicle technology and increasing traffic problem & road accidents have encouraged the growth of ITS market in the forthcoming period.
Advanced Traffic Management System (ATMS) Acquired Considerable Market Share
Based on Type, Advanced Traffic Management System (ATMS) account for considerable market share in 2019. As the name suggests, ATMS is used by the traffic and police regulators to manage traffic and monitor current status of traffic by getting data from different sources, such as traffic lights, car parks and toll booths. The growing traffic congestion and emission levels worldwide is placing positive impact for the growth of ATMS. Along with this, it is used to monitor and control the traffic, ensure smooth running of traffic, and avail information such as available parking spaces and provide guidance to drivers in order to have safer and faster driving experience. Therefore, this is anticipated to strongly contribute toward the growth of the Intelligent Transportation System market globally in the near future as stated in the MarkNtel Advisors’ research report “Global Intelligent Transportation System Market Analysis, 2020”
According to MarkNtel Advisors, the key players with a considerable market share in the Global Intelligent Transportation System market include Denso Corporation, Iteris, Lanner Electronics, Agero, EFKON, Cisco, Flir System, Siemens, TransCore, Citilog etc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics:
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Global Intelligent Transportation System Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Global Intelligent Transportation System Market during 2020-25?
A. The growth rate of Global Intelligent Transportation System Market during 2020-25 is forecast to be grow at a CAGR of 8.5%.
Q. Who are the key competitors or players operating in Global Intelligent Transportation System Market?
A. Denso Corporation, Iteris, Lanner Electronics, Agero, EFKON, Cisco, Flir System, Siemens, TransCore, Citilog etc., are few of the leading players in the Global Intelligent Transportation System Market.
Q. Which mode of transportation segment would emerge as an opportunity area for players in Global Intelligent Transportation System Market?
A. Roadways is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Global Intelligent Transportation System Market?
A. North America grabbed a majority market share continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Global Intelligent Transportation System Market.