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Intelligent Transportation System Market (ITS) is Expected to Reach USD 30.2 Billion by 2019: Transparency Market Research

Apr 20 2014, 2:06am CDT | by

Transparency Market Research Report Add "Intelligent Transportation System (ITS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" to its database.

Albany, NY, April 20, 2014 --(PR.com)-- The demand of Intelligent Transportation System Market is rising globally due to increased congestion in metropolitan areas. Development and deployment of...

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Intelligent Transportation System Market (ITS) is Expected to Reach USD 30.2 Billion by 2019: Transparency Market Research

Apr 20 2014, 2:06am CDT | by

Transparency Market Research Report Add "Intelligent Transportation System (ITS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" to its database.

Albany, NY, April 20, 2014 --(PR.com)-- The demand of Intelligent Transportation System Market is rising globally due to increased congestion in metropolitan areas. Development and deployment of intelligent transportation system not only reduces traffic, but also reduces number of accidents and improves quality of life by controlling vehicle emission levels. In addition, these systems reduce financial burden on countries by reducing fuel consumptions and traveling delays. These benefits of ITS systems are motivating both developed and developing countries to invest in these technologies instead of spending huge amount on transportation network expansion.

Browse the full report with complete TOC at http://www.transparencymarketresearch.com/intelligent-transportation-system-market.html.

Advanced transportation management systems (ATMS) used for traffic control and management accounted for the largest revenue share of 42.1% of the overall market. Significant investment is expected in this segment with increasing traffic problems in both developed and developing economies across the world. Advanced vehicle pricing systems which include electronic toll collection, congestion pricing, vehicle mile travel and other road user charging systems are expected to have a huge demand across the world. This is due to the increasing attention of highway and local transportation operators to reduce traffic on both urban and inter-urban transportation networks.

Traffic management and road user charging were two dominating applications with a share of 58% in 2012. Environment protection is emerging as well as the fastest growing application of ITS. In addition, automotive telematics is another major segment in ITS applications. Huge demand for vehicle position systems and navigation systems are expected from both vehicle manufacturers and owners due to increasing need to access real-time information. Advancement in wireless technologies are playing important role in the development of automotive telematics market. In wireless technologies, market is moving from dedicated short range communication (DSRC) technology to more sophisticated satellite based vehicle positioning systems (VPS) due to their higher adaptability and flexibility.

Global ITS market was dominated by North America and accounted for 42.2% of the revenue share in 2012. Government initiative and promotional activities particularly in the U.S. increased the demand for ITS systems in both public and private sector in North America. Asia-Pacific is the fastest growing region in the global market through the estimated period and huge investment is expected from developing countries including India, China, Thailand and Malaysia. In addition, large development in ITS market is expected in Middle East, Africa and South America as countries in these regions are investing in the transportation sector to support their economic growth.

Global ITS industry looks very competitive with large numbers of multinational and domestic hardware, software and end-use solution suppliers. The major players in the global ITS market include Siemens AG (Germany), Kapsch TrafficCom AG(Austria), Hitachi Ltd (Japan), Q-Free ASA (Norway), TomTom NV (Netherlands), Denso Corp (Japan), Xerox (U.S.) and others.

The global intelligent transportation system market is segmented as below:
By type

Advanced traveler information systems (ATIS)
Advanced transportation management systems (ATMS)
Advanced transportation pricing systems (ATPS)
Advanced public transportation systems (APTS)
Cooperative systems

By application

Traffic management
Road safety and surveillance
Freight management
Public transport
Environment protection
Automotive telematics
Parking management
Road user charging

By Geography

North America

U.S.

Canada

Mexico

Europe

UK

Germany

Italy

Russia

Rest of Europe

Asia-Pacific

Australia

China

India

Japan

Singapore

Korea

Rest of Asia-Pacific

Rest of the World

Middle East

South America

Africa

Contact Information:
Transparency Market Research
Nitin Sirsat
+1-518-618-1030
Contact via Email
http://www.transparencymarketresearch.com
90 State Street,
Suite 700,
Albany, NY - 12207
United States

Read the full story here: http://www.pr.com/press-release/553794

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