Increased investment in public transport systems, integration of advanced technology to enhance road safety and efficient traffic management, proliferation of IoT and rising environment related concerns are the key factors fueling the adoption of intelligent transportation systems across the globe. The global intelligent transportation system market is expected to exhibit prominent growth during the forecast period. Intelligent transportation systems are deployed to inform the passengers and drivers of public transport systems regarding the real time traffic conditions. The limitations of existing traffic monitoring and controlling infrastructure along with increased traffic are contributing towards the growth of the global intelligent transportation system market. An intelligent transportation system manages all the aspects of public transport systems and informs the passengers about timing, seat availability, current location, next location and estimated time to arrival, thereby enhancing the consumer experience. Increased investment in Internet of Things infrastructure development across the globe is expected to contribute towards the growth of the global intelligent transportation system market during the forecast period. Government initiatives to promote public transport systems fueled by rising concerns over environment degradation is expected to fuel the growth of the global intelligent transportation system market during the forecast period.
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North America contributed the largest share to the global intelligent transportation system market in 2019 and is estimated to be a dominating geography throughout the forecast period owing to increased investment in development and adoption of advanced traffic monitoring and controlling systems. Expanding IoT infrastructure across the United States and Canada along with increased deployment of intelligent transportation system is anticipated to drive the growth of North America intelligent transportation system market during the forecast period. Europe is expected to witness prominent growth during the forecast period owing to government initiatives to promote public transport systems and presence of strong infrastructure for deployment of intelligent transportation systems. Asia Pacific is expected to be the fastest growing segment during the forecast period owing to expanding transportation infrastructure and increasing adoption of intelligent transportation systems across major countries.
Intelligent Transportation System Market Share Analysis, by Geography (2019)
The report titled “Intelligent Transportation System Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global intelligent transportation system market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
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The global intelligent transportation system market is segmented based on component, type, applications, and geography. Based on component, the global intelligent transportation system market is segmented into hardware, software, and services. Based on type, the global intelligent transportation system market is segmented into advanced traffic management system, advanced traveler information system, enabled transportation pricing system, advanced public transportation system, commercial vehicle operation, and others. Based on applications, the global intelligent transportation system market is segmented into traffic management, road safety and security, freight management, public transport, environment protection, automotive telematics, parking management, road tolling systems, and others. Based on geography, the global intelligent transportation system market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on intelligent transportation system tools and services. Further, market share of prominent companies in the global intelligent transportation system market would also be estimated. the study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the intelligent transportation system companies.
The global intelligent transportation system market study would take into consideration the participants engaged throughout the ecosystem of the market, along with their contribution. Product portfolio would focus on all the products under the intelligent transportation system business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global intelligent transportation system market.