Intelligent Transportation System Market Size, Sales, CAGR And Competition Data from 2022 To 2031

Posted on 2022-08-08 by Sandeep in Automotive // 0 Comments

New York, 2022-Aug-08 — /EPR Network/ — According to a new market research report published by Global Insight Services “Intelligent Transportation System Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

An Intelligent Transportation System (ITS) is a technology that is used to manage transportation systems and infrastructure. ITS can be used to help reduce traffic congestion, improve safety, and increase efficiency.

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Key Players

Addco
Agero, Inc.
Denso Corporation
EFKON GmbH
Hitachi, Ltd.
Garmin Ltd.
Thales Group
Xerox Corporation

Key Trends

One of the key trends in Intelligent Transportation System (ITS) technology is the development of connected and automated vehicles (CAVs). CAVs are equipped with sensors and other technology that allows them to communicate with each other and with infrastructure such as traffic lights and road signs. This communication allows the vehicles to share information about their speed and location, and to coordinate their movements to avoid collisions and traffic congestion.

Another key trend in ITS technology is the development of data-driven transportation systems. These systems use data from sensors and other sources to monitor traffic conditions and to optimize the flow of traffic. Data-driven transportation systems can help to reduce traffic congestion and to improve the efficiency of the transportation system.

Key Drivers

The key drivers of ITS market are:

Increasing demand for connectivity: There is a growing demand for connectivity between various transportation systems and vehicles. This is driven by the need for real-time information exchange between different stakeholders in the transportation system.

Advancements in technology: There have been various advancements in technology, which have led to the development of more sophisticated ITS systems. These advancements include the development of 5G technology, which will enable faster and more reliable communication between different devices.

Increasing government initiatives: Various governments around the world are investing in ITS systems to improve the efficiency of their transportation systems. For example, the US government has invested over $1 billion in ITS research and development.

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Market Segments

By Type

Advanced Traveler Information System (ATIS)
Advanced Traffic Management System (ATMS)
Advanced Transportation Pricing System (ATPS)
Advanced Public Transportation System (APTS)
Emergency Medical System (EMS)

By Application

Traffic Management
Road Safety and Security
Freight Management
Public Transport
Environment Protection
Automotive Telematics
Parking Management
Road Tolling Systems

Reasons to buy Intelligent Transportation System Market Report:

Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
Develop business and M&A strategies through understanding of latest trends and emerging players in the market
Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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With Global Insight Services, you receive:

10-year forecast to help you make strategic decisions
In-depth segmentation which can be customized as per your requirements
Free consultation with lead analyst of the report
Excel data pack included with all report purchases
Robust and transparent research methodology

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

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