DUBLIN--(BUSINESS WIRE)--The "Intelligent Transportation System Market with COVID-19 Impact Analysis by Offering, System (Advanced Traffic Management System, ITS-Enabled Transportation Pricing System, and Others), Application, and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
Market growth can be attributed to several factors such as increasing concerns toward public safety, growing traffic congestion problems, rising favorable government initiatives for effective traffic management, increasing adoption of eco-friendly automobile technologies, and the development of smart cities across the world. However, issues related to high installation costs and the slow-growing infrastructure sector are expected to hamper the growth of the market.
The recent COVID-19 pandemic is expected to impact the global ITS market. The manufacturing units are highly hampered due to worldwide lockdown and limited availability of labor and raw material. This has resulted in a delay in ongoing transport projects to a greater extent. Some experts argue that the governments may rethink on their recently announced transport project plans to curb traffic congestion.
Based on the offering, the ITS market for roadways has been divided into hardware, software, and services. The high growth rate of the software segment is attributed to the deployment of various advanced software solutions and complex algorithms to strengthen the overall information and communication systems.
The largest market size of the advanced traffic management system is due to the increasing traffic congestion on roads across the world. Moreover, the rising number of vehicles, due to the availability of favorable deals offered by the automobile manufacturers and changing lifestyles of people, are also leading to the rising traffic congestion. So, it is expected that the advanced traffic management system will be deployed significantly across the globe to address the growing traffic congestion.
The market in North America is expected to hold the largest share during the forecast period. The deployment of ITS to reduce traffic congestion and boost safety on roads is propelling the growth of the ITS market in North America. In addition, the development related to ITS deployment in North American countries - including the US and Canada - is also empowering the market in the region.
In this report, the ITS market for roadways has been segmented on the basis of offering, system, application, and geography. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions - North America, Europe, APAC, and RoW. Value chain analysis has been included in the report, along with the key players and their competitive analysis in the ITS ecosystem.
Key Report Benefits:
- This report includes statistics for the ITS market for roadways based on offering, system, application, and geography, along with their respective market sizes.
- Value chain analysis and key industry trends have been provided for the market.
- Major drivers, restraints, opportunities, and challenges for the ITS market have been provided in detail in this report.
This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the market. The competitive landscape section includes the competitor ecosystem and the recent development strategies adopted by the key players in the market, such as product launches and developments, partnerships, and acquisitions.
Key Topics Covered:
2 Research Design
3 Executive Summary
4 Premium Insights
5 Market Overview
6 ITS Market, by Protocol
7 ITS Market for Roadways, by Offering
8 ITS Market in Roadways, by System
9 ITS Market for Roadways, by Application
10 ITS Market for Railways, by Application
11 ITS Market for Aviation, by Application
12 ITS Market in Maritime, by Application
13 Geographic Analysis
14 Competitive Landscape
15 Company Profiles
- Cubic Corporation
- Denso Corporation
- Efkon GmbH
- Flir Systems, Inc.
- Indra Sistemas, S.A.
- Kapsch Trafficcom
- Lanner Electronics
- Right to Win
- Thales Group
- Tomtom International BV
For more information about this report visit https://www.researchandmarkets.com/r/qjkgve
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.