Intelligent Transportation System (ITS) Market Opportunities and Forecasts, 2023 - ResearchAndMarkets.com

DUBLIN--()--The "World Intelligent Transportation System (ITS) Market - Opportunities and Forecasts, 2017 - 2023" report has been added to ResearchAndMarkets.com's offering.

The increasing number of mega cities and the population growth in developed and developing countries has increased the importance of deploying an intelligent transport system (ITS). ITS system constitutes both, road transport and an efficient metro/underground rail system. ITS involves the revamp of overall technological aspects such as GPS, Carrier Access for Land Mobiles (CALM), Dedicated Short Range Communication (DSRC) etc.

Globally, the concerned government departments understand the importance of implementing an efficient ITS system, which is an important driving factor for the market growth. Therefore, these departments are formulating specific programs and taking initiatives to implement the system. For example, the U.S. Department of Transport (DOT) is focusing on intelligent infrastructure, intelligent vehicles and integration of these two factors.

The DOT has started a Federal ITS program that would make research initiatives, investigative study and support the deployment of the system through systematic investment. Additionally, an efficient transport system would assist in controlling traffic congestions and increase environmental benefits by reducing pollution, and these factors act as other major drivers for the market.

However, the major restraint for the market growth is the slow growth of infrastructure, especially in the developing regions of the world due to the high cost of installation. Another key restraint for the growth of the market is the lack of standards and negligible interoperability between the various modes of transport and technologies. To address these challenges, various government sectors and key players in the market are forming strategic private-public partnerships.

Furthermore, the major opportunity for the market lies in the development of smart vehicles that would operate on intelligently controlled roads by deploying state of art infrastructure and latest technologies.

Scope of the Report

BY APPLICATION

  • Traffic Monitoring
  • Collision Avoidance Systems
  • Fleet Management & Asset Monitoring
  • Traffic Signal Control Systems
  • Parking Availability Systems
  • Variable Traffic Message Signs
  • Traffic Enforcement Cameras

BY SYSTEM

  • Advanced Traveler Information System
  • Vehicle-to-Vehicle Interaction and Vehicle-to-Infrastructure Interaction
  • Advanced Traffic Management System
  • Advanced Public Transportation System (APTS)
  • Commercial Vehicle Operation
  • ITS - Enabled Transportation Pricing System

Some of the key players profiled in this report are

  • Affiliated Computer Services, Inc.
  • Denso Corporation
  • Agero, Inc.
  • Addco Llc
  • Lanner Electronics, Inc.
  • Nuance Communications, Inc.
  • Ricardo Plc
  • Sensys Networks, Inc.
  • Telenav, Inc.
  • Efkon AG
  • Thales Group

For more information about this report visit https://www.researchandmarkets.com/r/1vlcfp

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900