Northbrook, IL -- (SBWIRE) -- 03/04/2021 -- According to a new market research report "Australia Intelligent Transport System (ITS) Market by application, system (ATMS, ATIS, ITS - Enabled Transportation Pricing System, APTS and CVO), and Territory (New South Wales, Victoria, Queensland, Western Australia, Rest of Australia) - Forecast to 2020", published by MarketsandMarkets, the Australia Intelligent Transportation Systems Market is expected to grow at a CAGR of 14.41% between 2015 and 2020, and reach $1,130.2 Million by 2020.
Browse 30 Market Tables and 34 Figures spread through 97 Pages and an in-depth TOC on "Australia ITS Market"
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The report combined with an in-depth analysis of the various market dynamics such as drivers, restraints, and opportunities. Along with the market dynamics, the report also gives an insight about various market parameters, such as market share analysis, value chain analysis, and the recent market activities of the leading players. The market activities also include expansions and acquisitions, new product developments, agreement, and new contract by players in the market.
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The continuous innovations in this market have helped improve transportation management and reduce traffic congestion. Advanced traffic management system (ATMS) dominates the overall market. ATMS was the most successful and suitable system of ITS due to its ability to monitor different functions such as real-time traffic, traffic signal controlling, incidents on roads, automated warnings, dynamic message signs, traffic cameras, and weather information.
The report covers the Australian intelligent transportation systems market and all its market aspects such as opportunities, drivers, and restraints in detail. In this report, the overall market has been divided into three major segments-systems, applications, and territory. This is a growing market; based on systems it is segmented into advanced traffic management system (ATMS), advanced traveler information system (ATIS), ITS-enabled transportation pricing system, advanced public transportation system (APTS) and commercial vehicle operation (CVO). The application segment includes fleet management and asset monitoring, traffic monitoring systems, traffic signal control systems, collision avoidance systems, variable traffic message signs, parking availability system, traffic enforcement cameras and automotive telematics. The application in traffic signal control systems is expected to account for the largest share of the Australian ITS market during the forecast period.
The territorial split of the Australian intelligent transportation systems market has been included in the report. The overall market has been divided into five major territorial regions, namely, New South Wales, Victoria, Queensland, Western Australia, and the Rest of Australia. Among all, New South Wales leads the Australian intelligent transportation systems market. The Rest of Australia includes Southern Australia, Tasmania, and the Northern Territory. An increasing demand for intelligent transportation systems is expected from Western Australia during the forecast period.
Major players in the Australian intelligent transportation systems market are the Thales Group (France), Redflex Holding Ltd. (Australia), Vix Technology (Australia), Kapsch TrafficCom AG (Austria), and Sigtec Pty Ltd. (Australia). Other players which are active in this market are Trapeze Software ULC (U.S.), Intelematics Australia Pty Ltd. (Australia), Navman (New Zealand), Transmax Pty Ltd. (Australia), Garmin International Inc. (U.S.), and TomTom International BV (Netherlands).
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