San Francisco, Nov. 16, 2015 (GLOBE NEWSWIRE) -- Global Intelligent Transportation System (ITS) Market is estimated to attain USD 38.68 billion by 2020, as per a new research report by Radiant Insights, Inc. Cost effectiveness along with escalating need for road safety is likely to boost global demand.
ATMS was the leading product segment and was valued USD 7,366.5 million in 2014. It is expected to witness significant gains, with estimate of USD 15,050.8 million by 2020 at a CAGR of 12.6% during the forecast period. It is used to minimize congestion and ensure proficient use of road space. ATPS was valued at USD 5,031 million in 2014, and is projected to attain USD 10,748.6 million by 2020, at an estimated CAGR of 13.5% over the next six years.
The system improves the supply chain course and yield high cost ratio. Increasing adoption of intelligent transportation system in emerging countries such as Russia, India, Brazil, South Africa and China has offered several economic advantages. It helps the consumers in reducing the overall fuel utilization and travel time by avoiding overcrowded routes or traffics. Need for interoperability is likely to create challenge to industry participants. However, transportation authorities, governments and ITS services providers have been actively working together to improve overall interoperability.
Browse Full Research Report With TOC On "Intelligent Transportation System (ITS) Market Size, Analysis, 2020" at: http://www.radiantinsights.com/research/intel...its-market
Key report insights suggest:
- Global intelligent transportation system market was valued USD 18.5 billion in 2014, with estimation of USD 38.6 billion by 2020, growing at 13% from 2014 to 2020
- Global ITS market demand in traffic management system was USD 5,773.7 million in 2014 which is probable to achieve USD 11,429.6 billion by 2020, growing at a CAGR of 12.1% from 2014 to 2020. Advantages offered by this system include operation performance and reliability are predictable to stimulate the industry demand. Public transport is expected to grow at 13.4% over the next six years.
- North America leads the regional demand with market share of 43.66% in 2014. Strict government initiatives have encouraged the demand in this region over the forecast period. Asia Pacific ITS market is expected grow at high rates compared to other regions. The region is expected to grow at a CAGR of 14% up to 2020.
- The industry is reasonably competitive, with top ten manufacturers which account for a large percentage of industry share in 2013. Major participants include Kapsch TrafficCom, Hitachi Ltd., Siemens AG, SWARCO AG, TomTom NV, Denso, Q-Free ASA, Garmin International, IBM Corp. and Xerox Corp.
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Global Intelligent Transportation System Application Overview (Revenue, USD Million, 2012 - 2020)
- Road Safety and Security
- Traffic Management
- Freight Management
- Parking Management
- Public Transport
- Environment Protection
- Road User Charging
- Automotive Telematics
Global Intelligent Transportation System Product Overview (Revenue, USD Million, 2012 - 2020)
- ATMS
- ATPS
- ATIS
- APTS
- Cooperative vehicle systems
Global Intelligent Transportation System Regional Overview (Revenue, USD Million, 2012 - 2020)
- North America
- o U.S.
- o Others
- Europe
- o Germany
- o France
- o Italy
- o UK
- o Rest of Europe
- Asia Pacific
- o China
- o India
- o Japan
- o Rest of APAC
- RoW
Related reports by Radiant Insights:
- Automotive ECU Market –
http://www.radiantinsights.com/research/autom...ecu-market
- Gas Sensors Market –
http://www.radiantinsights.com/research/gas-sensors-market
About Radiant Insights
Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy.Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.
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