ReportsnReports.com adds Global Intelligent Transport System Market 2017-2021 latest research report; the analysts forecast global intelligent transport system industry to grow at a CAGR of 8.70% during the period 2017-2021.
Pune, Maharashtra -- (SBWIRE) -- 07/11/2017 -- According to the 2017 intelligent transport system market report, one driver in the market is increasing road traffic congestion in Asian countries. The urban traffic road congestion is increasing across the world because of the increasing disposable income and ineffective public transportation. These factors are stronger in the Asian countries compared with the rest of the world. The middle-class population in the Asian countries is around 60% of the global middle-class population, and their disposable income will grow at a CAGR of around 15.29% between 2016 and 2020. The increase in disposable income is expected to increase the vehicle sales in the Asian countries by around 9% in 2018.
Complete report on Intelligent Transport System market spread across 86 pages, analysing 6 major companies with table of content are now available at http://www.reportsnreports.com/reports/1119809-global-intelligent-transport-system-its-market-2017-2021.html .
Intelligent transport system market analyst says one trend in the market is impact of standardization in ITS. Standardization of ITS to provide uniform platform is the current issue in the global ITS market. Standardization implies creating a common platform to handle variance in devices.
The following companies as the key players in the global intelligent transport system market: 3M, Kapsch Group, Neology, Q-Free, Siemens, and TransCore. Other prominent vendors in the market are: ADDCO LLC, Agero, DENSO CORPORATION, EFKON, International Road Dynamics, KLD Engineering, Lanner, Peek Traffic Corporation, and Traffic Tech (Gulf).
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Global Intelligent Transport System (ITS) Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. This report covers the present scenario and the growth prospects of the global intelligent transport system market for 2017-2021. To calculate the market size, the report considers the revenue generated by different vendors through the global ITS market.
Further, the intelligent transport system market report states that one challenge in the market is higher setup cost and operating cost. The ITS equipment requires high capital investment for setting up. This is because the feedstock cost for ITS product manufacturing is high. A software platform is required to build an ITS equipment. Procurement of software, electronics chips and camera, and sensors and transponders is the major cost consumption factor of ITS manufacturing. The marketing and promotion cost for ITS products is minimal as these products have an inbuilt demand from public players and large corporates.
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Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key industry trends?
What is driving this market?
What are the challenges to industry growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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