DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Intelligent Transportation Systems Market, Analysis and Forecast: 2017 - 2022; (Focus on Advanced Traffic Management, Electronic Tolling, Smart Parking, Revenue Collection, Railway Crossing Management, Freight Management, & Tunnel Management)" report to their offering.
The Global ITS Market Is Estimated To Reach $72.32 Billion By 2022
The overall demand for intelligent transportation systems (ITS) is increasing significantly owing to factors such as growing demand for vehicles and rising urbanization leading to space congestion within the city limits. This has led to the requirement of more sophisticated infrastructure and advanced systems to manage traffic and space scarcity. The market is estimated to witness a growth at a CAGR of 7.9% over the period of 2017 to 2022. The report is a compilation of market size and future growth potential of the ITS market across different transportation modes such as roadways, railways, airways, and marine.
While highlighting the key driving and restraining forces for this market, the report provides a detailed study on the different applications of ITS used for railways, which include railway crossing management, freight services, cost management, passenger services, and infotainment. The global ITS market for airways is segmented by applications such as air traffic management, security & surveillance, shuttle bus tracking, traveler information, smart ticketing, and emergency notification. The report also incorporates ITS market for marine and is breakdown by application-vessel traffic management, freight arrival and transit, real time weather information, and emergency notification. The report examines the role of the leading market players involved in the industry.
Market Dynamics
Market Drivers
- Increase in Traffic Congestion
- Increasing Need for Environmental Protection
- Rising Demand for Road Safety
- Impact of Market Drivers
Market Challenges
- Lack of Interoperability and Standardization
- Lack of Infrastructure in Developing Countries
- Impact of Market Challenges
Opportunities
- Public Private Partnerships
- Emergence of Autonomous Vehicles
- Opportunities in Developing Countries
Companies Mentioned
- Cubic Corporation
- Siemens AG
- Thales SA
- TomTom NV
- TransCore, LP
- Xerox Corporation
- Denso Corporation
- Garmin Ltd
- Hitachi Ltd
- Iteris Inc
- Kapsch TrafficCom AG
- Nuance Communications, Inc
- Q-Free ASA
- Savari Inc
For more information about this report visit http://www.researchandmarkets.com/research/v3z3cr/global
