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Intelligent Transportation System Market Size to Reach USD 8474.2 Million by 2026; Rising Number of Automated & Connected Cars to Propel Growth: Fortune Business Insights™

Written by Customer Service on . Posted in Mergers And Acquisitions.

Pune, March 25, 2020 (GLOBE NEWSWIRE) — The global intelligent transportation system (ITS) market size is set to gain impetus from the rising number of connected and automated cars worldwide. It is further causing the transportation agencies to make the infrastructure future-ready. These providers are therefore, striving to invest in the performance of ITS by delivering expertise in tasks, implantation, planning, and designing of solutions. Fortune Business Insights™ published this information in a recent report, titled, “Intelligent Transportation System (ITS) Market Size, Share and Industry Analysis By Type (Advanced Traffic Management System, Advanced Traveler Information System, Advanced Public Transportation System, Advanced Transportation Pricing System, and Others), and regional Forecast till 2019-2026.” The report further mentions that the ITS market size stood at USD 1643.8 million in 2018. However, it is anticipated to reach USD 8474.2 million by 2026, exhibiting a CAGR of 22.3% during the forecast period.Highlights of the Report:Extensive details about the intelligent transportation system market trends, growth drivers, and hindrances.List of all the regions present in the market.Information about the dominating segment.In-depth data regarding the challenges and opportunities that the market may face.Increasing Road Fatalities to Boost GrowthNowadays, the number of vehicles is increasing across the world. It is leading to a rise in traffic congestion owing to the lack of proper transportation infrastructure. It is creating a negative impact on the environment by upsurging the amount of carbon emission in the atmosphere. Also, the number of road fatalities has increased. As per one of our lead analysts, in the year 2018, in the U.S., approximately, 36,600 deaths were reported because of traffic fatalities. However, implementation of ITS is a very expensive process. It is set to obstruct the intelligent transportation system market growth in the coming years.Fortune Business Insights™ provides a list of all the companies operating in the intelligent transportation system market. They are as follows:EFKON GmbH (Raaba, Austria)Siemens AG (Munich, Germany)DENSO CORPORATION (Kariya, Aichi, Japan)Lanner Inc. (New Taipei City)Kapsch TrafficCom AG (Vienna, Austria)Hitachi, Ltd. (Chiyoda City, Tokyo, Japan)Other key market playersATMS Segment to Dominate Fueled by Rising Government Initiatives to Lower TrafficBased on type, the market is segregated into advanced transportation pricing system (ATPS), advanced public transportation system (APTS), advanced traveler information system (ATIS), advanced traffic management system (ATMS), and others. Amongst these, the ATMS segment is set to lead the market during the forthcoming years. This growth is attributable to the increasing investment by the governments of various regions to reduce traffic congestion. The ATIS segment generated 15% intelligent transportation system market share in 2018 and is expected grow healthily on account of the surging utilization of smartphones for gaining information regarding all the modes of transport, as well as the weather.Regional Analysis-Asia Pacific to Remain at the Forefront Backed by Rising Deployment of ITS in ChinaIn terms of geography, the market is categorized into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Out of these, Asia Pacific is anticipated to dominate throughout the forecast period because of the extensive contribution of China. The Chinese government is spending huge sums in the deployment of ITS. South Korea will remain in the second position in terms of government funding.Europe, on the other hand, is projected to be the second dominant region. It generated USD 244.8 million intelligent transportation system market revenue in 2018. This growth is attributable to the rising implementation of ITS in the U.K. for public transportation. North America would grow steadily owing to the installation of ITS in Canada.Key Players Adopt the Strategy of Collaboration to Gain Competitive EdgeThe market consists of multiple organizations that are working constantly to provide better traffic commute to the masses. They are hence, engaging in the strategy of collaborations and partnerships to create new enterprises for delivering smart solutions. Below is one of the latest industry developments:January 2019: Axxes SAS, a provider of toll and parking fee collection services headquartered in France, joined hands with Kapsch TrafficCom AG, a provider of intelligent transportation systems in the fields of traffic safety and security, tolling, smart urban mobility, and traffic management based in Austria. This partnership has resulted in the creation of a company named MoKA SAS. It would operate, build, and design a sustainable technology platform.
Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsMerger, Acquisitions, and PartnershipsDistributor Analysis – For Major PlayersGrowth and Penetration AnalysisPorter’s Five Forces AnalysisPEST AnalysisVendor LandscapeGlobal Intelligent Transportation System (ITS) Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Analysis, Insights and Forecast – By TypeAdvanced Traffic Management System (ATMS)Advanced Traveller Information System (ATIS)Advanced Public Transportation System (APTS)Advanced Transportation Pricing System (ATPS)OthersMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia pacificLatin AmericaMiddle EastRest of the WorldTOC Continued….!Vehicle Electrification Market Size, Share and Industry Analysis; By Product Type (Start/Stop System, Electric Air Conditioner Compressor, PTC Heater, Electric Vacuum Pump, Electric Water Pump, Electric Oil Pump, Starter Motor & Alternator, Integrated Starter Generator, Actuators). By Vehicle Type (Passenger Cars, Light Commercial Vehicles & Heavy Commercial Vehicles), and Regional Forecast, 2019-2026Fuel Cell Vehicle Market Size, Share and Global Trend, By Vehicle Type (Passenger Cars, Commercial Vehicles, Buses & Coaches), By End-User (Private, Commercial), and Regional Forecast, 2019-2026Automotive Camera Market Size, Share & Industry Analysis, By Technology Type (Stereo, Monocular), By Application Type (Park Assist System, Lane Departure Warning System, Blindl Spot Detection, Lane Keep Assist, Road Sign Assistance, Adaptive Cruise Control (ACC), Intelligent Headlight Control, Others), By Vehicle Type (Passenger Cars and Others), and Regional Forecast, 2019-2026Automotive Lighting Market Size, Share & Industry Analysis, By Technology Type (LED, Halogen, Xenon), By Vehicle Type (Passenger Cars, Commercial Vehicles) By Application Type (Front Lighting, Rear Lighting, Side Lighting, Interior Lighting) and Regional Forecasts, 2019-2026Electric Bike Market Size, Share & Industry Analysis, By Propulsion Type (Pedal Assist, Throttle), By Battery Type (Lead Acid, Lithium-Ion, Nickle Metal Hydride, and Others) and Regional Forecasts, 2019-2026Automotive Electronic Control Unit (ECU) Market Size, Share & Industry Analysis, By Application (Powertrain, Braking Systems, Body Electronics, ADAS, Infotainment), By Vehicle (Passenger, LCV, HCV, Electric Vehicle), and Regional Forecasts, 2019-2025
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About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:
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