VALLEY COTTAGE, N.Y. , May 17, 2018 (GLOBE NEWSWIRE) -- According to a recently published report by Future Market Insights titled “ Intelligent Transport Systems (ITS) Market : Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027),” the global intelligent transport systems (ITS) market is expected to be valued at US$ 21,481.4 Mn in 2017, and is projected to reach US$ 70,798.4 Mn by 2027 end, expanding at CAGR of 12.7% throughout the assessed period. The primary factors which are driving this market are growing inclination towards better transport infrastructure and increase in spending on intelligent transportation system.
Global Intelligent Transport Systems Market: Drivers
- Focus on reducing vehicular pollution
- Increase in government collaborations for effective traffic management
- Growing requirement for advanced traffic congestion solutions
- Growing innovations in products to amplify the demand of ITS products
- Keeping a check on high emission vehicles
- Increasing demand for advanced solutions to reduce road accidents
- Traffic law enforcement
- Rapid urbanization and government’s increasing spending on smart city projects
- Government funding for proper transport plans
Request a Sample Report with Table of Contents and Figures : https://www.futuremarketinsights.com/reports/...rep-gb-921
Global Intelligent Transport Systems Market: Forecast by Region
This market research company has included ASEAN region along with APEJ, Japan, North America, Latin America, Eastern Europe, Western Europe, Japan and MEA. In APEJ, the collision avoidance system segment is a key application segment, which is expected to showcase a high CAGR during the forecast period. In APEJ, the intelligent urban traffic management system application segment is expected to reflect high market share.
Global Intelligent Transport Systems Market: Forecast by Component
On the basis of component, the global intelligent transport systems market is segmented into hardware, software and service. After studying the entire market it has been witnessed that in terms of value, the software segment is expected to increase at a relatively higher CAGR during the forecast period. This segment is expected to register moderate Y-o-Y growth rate throughout the forecast period. In terms of value, this segment is expected to expand at a CAGR of 13.0% during the forecast period. The hardware segment on the other hand is expected to exhibit a high market attractiveness index over the forecast period. In 2017, the hardware segment is estimated to be valued at US$ 10,396.3 Mn, and is expected to witness steady growth in terms of revenue throughout the forecast period.
Preview Analysis on Global Intelligent Transport Systems (ITS) Market Segmentation By Application: Intelligent Urban Traffic Management Systems: Traffic Monitoring, Traffic Signal Controls, Enforcement Camera Management; Highway Traffic Management,Intelligent Car Parking Management Systems (Smart Parking), Fleet Management and Asset Monitoring: Public, Private; Collision Avoidance Systems, Advanced Traveller Information Systems, Congestion/Road Charging Solutions; By Component: Hardware, Software, Services : https://www.futuremarketinsights.com/reports/...its-market
Global Intelligent Transport Systems Market: Forecast by Application
On the basis of application, global market for intelligent transport systems market is segmented into intelligent urban traffic management systems, highway traffic management, intelligent car parking management systems (smart parking), fleet management and asset monitoring, collision avoidance systems, advanced traveler information systems, and congestion/road charging solutions. The collision avoidance system segment is expected to showcase a high CAGR during the forecast period. In terms of attractiveness index, highway traffic management segment is expected to witness a high market attractiveness index over the forecast period. In terms of value, intelligent urban traffic management system segment was valued US$ 5,037.5 Mn in the year 2017, expanding at a robust CAGR of 9.4%.
Global Intelligent Transport Systems Market: Competitive Landscape
Thales Group Ad, Siemens AG, Garmin Ltd., Kapsch Trafficcom, Tomtom International BV, Q-Free ASA, Denso Corporation, Atkins Group, Iteris, Inc., Ricardo PLC, Efkon AG., Savari Inc., Transcore, Lp, and Lanner Electronics Inc are some of the key leaders operating in the global intelligent transport systems market.
Our advisory services are aimed at helping you with specific, customised insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you : https://www.futuremarketinsights.com/askus/rep-gb-921
More from FMI’s Electronics, Semiconductors, and ICT Market Intelligence:
- Head-Up Display Market Segmentation By Component - Projection Unit, Video Generator, Display Panel, Software, Others; Technology - CRT, MicroElectro Mechanical Systems, (MEMS), Liquid Crystal Display (LCD), DLP, LCOS, Waveguide; Application - Military and Defense, Civil and Aviation, Automotive, Others (Manufacturing, Wearable etc.); Type - Windshield, Combiner, Head Mounted: https://www.futuremarketinsights.com/reports/...lay-market
- Electronic Trial Master File (eTMF) Market Segmentation By Functionality - Clinical Operations, Records Management, Auditing, IT Operations; By End-user - Sponsors, CROs and Others; By Deployment - On-premise, Cloud; By Component - Software, Service: https://www.futuremarketinsights.com/reports/etmf-market
- Mass Notification System in Healthcare Market Segmentation By Product Type - In-building Mass Notification System, Outdoor Mass Notification System, Distributed or Hybrid Mass Notification System; By End-user - Hospitals , Clinics , Nursing Homes , Long Term Care, Ambulatory Surgical Centers (ASC’s): https://www.futuremarketinsights.com/reports/...are-market
About Us
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
Browse More Electronics, Semiconductors, and ICT Market Insights
Contact Us
Mr. Sudip Saha Future Market Insights 616 Corporate Way, Suite 2-9018, Valley Cottage, NY 10989, United States T: +1-347-918-3531 F : +1-845-579-5705 T (UK): + 44 (0) 20 7692 8790 Sales: sales@futuremarketinsights.com Press Office : Press@futuremrketinsights.com FMI Blog: http://www.fmiblog.com/ Website : www.futuremarketinsights.com
