Intelligent Transportation Systems Market categorizes global market by Component, Application, System (ITS- Enabled Transportation,ATMS, ATIS, Pricing System, APTS and CVO)and Geography.
Dallas, TX -- (SBWIRE) -- 11/19/2014 -- According to a new market research report of “Intelligent Transport Systems Market by Component, Application, System (ATMS, ATIS, ITS- Enabled Transportation, Pricing System, APTS and CVO)and Geography (Americas, Europe, APAC, ROW) Analysis and Forecast to 2014 - 2020” published by MarketsandMarkets is expected to grow at a CAGR of 11.30% from 2014 to 2020 and reach $33.75 Billion in 2020.
The Intelligent transportation systems market has been one of the growing markets with an increase in traffic congestion, developing road infrastructure and increasing comfort and safety needs of the travelers. The technological advancement in communication and information technology along with “ITS” has improved the overall safety and security in the transportation sector. Intelligent transportation systems vary in technologies applied, from basic management systems such as car navigation; traffic signal control systems; container management systems; variable message signs; automatic number plate recognition or speed cameras to monitor applications, such as security CCTV systems; and to more advanced applications that integrate live data and get feedback from number of other sources, such as parking guidance and information systems; weather information; bridge deicing systems; and others. Additionally, predictive techniques are being developed to allow advanced modeling and comparison with historical baseline data.
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Browse 165 market data tables 75 figures spread through 371 pages and in-depth TOC on “Intelligent transportation system market by Component, Application, System (ATMS, ATIS, ITS- Enabled Transportation, Pricing System, APTS and CVO), and Geography (Americas, Europe, APAC, ROW) Analysis and Forecast to 2014 - 2020”
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The America holds the major market share, followed by the Europe owing to the rapid development in their infrastructure. APAC market also constitutes a substantial market share in ITS. From these factors, it is believed that these markets will grow at a significant growth rate for the forecast period of 2014 to 2020.
The overall Global Intelligent Transport System is segmented into four major segments; namelycomponents, system, application and geography. All the major segments are further segmented into sub segments. All the segments and sub segments are separately classified in the report. The Global Intelligent Transport System is expected to reach up to$33.75 billion by 2020, at an estimated CAGR of 11.30% from 2014 to 2020.
The five major ITS systems are mostly in demand and deployed in all across the globe; they are Advanced Traffic Management System (ATMS), Advanced Traveller Information System (ATIS), ITS Enabled Transportation Pricing System, Advanced Public Transportation System (APTS), and Commercial Vehicle Operation (CVO). In coming years, most of the toll collection booths on the newly developed highways and expressways will be installed with the ITS-enabled transportation pricing system. The Government of developed countries like the U.S., Germany, and developing countries like India, China,and so on are also taking various initiatives towards the deployment of the systems provided by the intelligent transport system market.
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Themajor driving factors for the Intelligent Transport System aresolution to traffic congestion and government support;public private partnership is the key to the success in implementing intelligent transportation system. In this report various new technologies like V2V and V2I communication system are discussed and it also include the prominent Architecture of ITS and insights of Standards used in Intelligent Transport System. The report forecasts the growth from 2014 to 2020, along with market size, list of leading players, the latest technology adoption, M&A s, and JV s of key players.
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