DUBLIN--(BUSINESS WIRE)--The "Global Intelligent Transport Systems Market - Segmented by Component (Hardware, Software, and Services), Mode of Transport (Roadways, Railways, Airways, and Maritime), Application, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
Intelligent Transport Systems Market was valued at USD 20.47 billion in 2017 and is expected to reach a value of USD 27.8 billion by 2023 at a CAGR of 5.02% over the forecast period (2018-2023).
The advancements in IoT has affected all the industries including the automotive and transportation sector. Automotive and transportation is one of the significant sources of demand to IoT solutions all over the world. In recent years, applications of IoT in automotive and transportation sector has given rise to Intelligent Transport Systems (ITS) enabling advanced security, infotainment and communication solutions in cars, jets, containerships, drones and even rail cars.
Stringent laws over road safety and transportation all over the world have led to rapid adoption of intelligent transport systems in many public sector applications such as traffic management, public transport management, and monitoring, etc. With the growing trend of smart cities all over the globe, intelligent transport systems are increasingly becoming famous in traffic and other public-sector applications and are expected to gain extreme levels of penetration, especially in the Asia Pacific region.
- North America to Present New Opportunities
- Applications in Roadways are Increasingly Becoming Popular
Key Developments in the Market
- July 2017 - IBM announced the launch of two new security testing practice areas focused on automotive security, and the Internet of Things (IoT). The new services will be delivered via an elite team of IBM X-Force Red researchers focused on testing backend processes, apps, and physical hardware used to control access and management of smart systems
- Siemens AG
- Thales Group
- IBM Corporation
- Garmin International Inc.
- Addco LLC
- TomTom NV
- Cubic Corporation
- Flir Systems
- Lanner Electronics Inc.
- Deso Corporation
Key Topics Covered
2. Executive Summary
3. Market Overview
4. Market Dynamics
5. Intelligent Transport Systems Market Segmentation
6. Competitive Intelligence
7. Investment Analysis
8. Future of Intelligent Transport Systems Market
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