Growing Focus on Efficient Traffic Management Drives the Global Intelligent Transportation Systems Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Intelligent Transportation Systems (ITS) markets. Global market for Intelligent Transportation Systems (ITS) is projected to reach US$26.3 billion by 2020, driven by continued rise in vehicular traffic and the need to regulate traffic flow, rising impetus for enhancing road safety, and escalating socio-environmental implications of traffic congestion.

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Intelligent Transportation Systems (ITS): A Global Strategic Business Report

San Jose, California (PRWEB) April 25, 2014

Follow us on LinkedIn – The sheer increase in volume of vehicular traffic across the world over the last couple of decades and the inability of existing transport infrastructure to support the same, drives focus on the importance of monitoring and managing vehicular movement, and ensuring smooth flow of traffic. Intelligent Transportation Systems (ITS), in this regard, is growing in popularity given the technology’s ability to ease congestion and improve road safety by effective monitoring and management of vehicular traffic. The technology also helps in reducing vehicle usage by strengthening public transport systems by improving service delivery to commuters. Intelligent Transportation System is the application of computer and communication technologies to transportation systems management. Of late, advancements in sensor technologies, cross deployment of engineering ideas and enhanced reliability of networking systems, have emerged as key enablers of ITS.

Rising impetus for enhancing road safety and escalating socio-environmental and economic implications of traffic congestion are key factors driving investments in ITS. Growing popularity and rising awareness of benefits will further boost market penetration of these systems. Sustainable transportation systems are the future of modern cities and the focus on efficient and environmentally friendly mobility will only gather additional focus in the coming years. With governments worldwide forced to improve transportation systems in a manner that reduces energy consumption, ITS with its ability to better balance scarce energy resources, individual and public transportation needs and reduce pollutant emissions, is poised to benefit.

Advanced Traffic Management Systems (ATMS) has been growing in demand encouraged by its growing use in tracking vehicular traffic in real time and using the same for ensuring signal control, and ramp metering. Adoption of tolling practices by governments worldwide to generate funds for infrastructure development and maintenance is lending traction to growth of ETC systems. Need to avoid lengthy waiting lines and reduce environmental pollution at toll plazas is also driving the demand for ETC systems.

As stated by the new market research report on Intelligent Transportation Systems, the United States represents the largest regional market worldwide. China is forecast to emerge as the fastest growing market with a CAGR of 17.4% over the analysis period.

Key players covered in the report include 3M Company, Citilog SA, Denso Corporation, Efkon AG, FLIR Intelligent Transportation Systems NV, Image Sensing Systems Inc., INIT Innovation In Traffic Systems, AG, ItraMAS Corporation Sdn Bhd, Kapsch TrafficCom AG, LeddarTech Inc., Q-Free ASA, Sanef ITS Technologies, Siemens AG, SpeedInfo Inc., SWARCO TRAFFIC SYSTEMS GmbH, Tacel Ltd., TransCore Inc., Xerox Corporation, and XRS Corporation, among others.

The research report titled “Intelligent Transportation Systems: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, service innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe, China, South Korea, and Rest of World. Product segments analysed in the report include Advanced Traffic Management Systems (ATMS), Electronic Toll Collection (ETC) Systems, Public Vehicle Transportation Management Systems (PVTMS), Commercial Vehicle Operations (CVO) Systems, and Others.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Intelligent_Transportation_Systems_ITS_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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  • Raghu Gopal
    Global Industry Analysts Inc
    +1 408-528-9966
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