Intelligent transport system (ITS) has become more indispensable in the current digital society than ever before, aiding in improved traffic management and offering beneficial transportation to the user. IndustryARC opinions that the global intelligent transport system market value was at $21.33 billion in 2018 and is estimated to grow at a healthy CAGR of 6.01% throughout the forecast period 2019-2025.The IndustryARC report is titled, “ [URL=https://industryarc.com/PressRelease/916/Intelligent-Transport-System-Market-Research.html]Intelligent Transport System Market[/URL]: Technologies & Standards (Cloud Service, GPS, Others); Components (Sensor, Interface board, others); Systems (ATMS, ATIS, Others); Application (Fleet Management, Traveler Information, Others); & Geography – Forecast (2019-2025).” It describes about market trends, market opportunities, growth drivers and competitive landscape of the global intelligent transport system.
Browse Intelligent Transport System Market Report Link: [URL]https://industryarc.com/Report/15024/intelligent-transport-system-market.html[/URL]
Global Intelligent Transport System Market: Demand Analysis
Intelligent transport system leveraging the Internet of Things (IoT) concepts and includes vehicle-to-vehicle (V2V) and vehicle to infrastructure (V2I) technology employment in traffic management and mobility management. Advanced traffic management system, advanced traveler information system, advanced vehicle control system, commercial vehicle the operation, and advanced public transportation system are the highly preferred ITS systems. According to the United Nations, the world population expected to touch 9.8 billion by 2050. Which results in a rise in the number of residents that increases the mass urbanization movement. The ultimate outcome of these consequences is an increment in traffic congestion across urban areas and cities. ITS application varies based on different technologies which include an automatic number plate recognition to monitor applications such as security CCTV systems, and advanced applications such as information systems, parking guidance, weather information, and bridge de-icing (US deicing) systems.
Global Intelligent Transport System Market: Disruptive Trends
An intelligent transport system is an ideal choice of leveraging citizens to enrich mobility and also to save the time of travel in a smarter city.
This system not only improves road safety but also support efficient infrastructure usage. In addition to this, it provides clean and CO2 neutral mobility.
Growing adoption of ITS in transportation pricing, telematics, fleet monitoring, ticket management, tolling management, and traffic monitoring applications.
Global Intelligent Transport System Market: Competitive Landscape
Garmin, Thales, Kapsch Trafficcom, Tomtom International, Denso Corporation,Flir Systems, Ricardo, Tomtom International, Kapsch Trafficcom, and Ricardo are some of the key companies identified in the report which are currently holding majority shares in the global intelligent transport system market.
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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology,and Healthcare.