The global intelligent transport system (its) market to grow at a CAGR of 8.70% during the period 2017-2021.

Albany, NY -- (SBWire) -- 05/17/2018 --An intelligent transport system (ITS) is a sophisticated solution that provides solutions related to different modes of traffic and transport management. The traffic management process is rationalized with the optimization of quality, reduction of the costs incurred, and the time taken to implement decisions. The different types of ITS include network management systems, public transport ITS, freight and commercial ITS, road safety system, security and crime reduction ITS, Communication ITS, and automotive and infotainment telematics.

Covered in this report

The 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.

The market is divided into the following segments based on geography:
Americas
APAC
EMEA

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Technavio's report, Global Intelligent Transport System (ITS) Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The 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.

Key vendors
3M
Kapsch Group
Neology
Q-Free
Siemens
TransCore

Other prominent vendors
ADDCO LLC
Agero
DENSO CORPORATION
EFKON
International Road Dynamics
KLD Engineering
Lanner
Peek Traffic Corporation
Traffic Tech (Gulf)

Market driver
Increasing road traffic congestion in Asian countries
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Market challenge
Higher setup cost and operating cost
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Market trend
Impact of standardization in ITS
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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 market trends?
What is driving this market?
What are the challenges to market 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?