World Intelligent Transportation Systems Market to Exceed US$12.5 Billion by 2010, According to New Report by Global Industry Analysts, Inc.
Intelligent Transportation Systems refer to the collection of various modules of sophisticated parallel communication/sensing/control platforms and/or information technologies that together constitute an integrated futuristic transportation system that flaunts performances such as a highly controlled traffic flow and enhanced travel experience, while minimizing traffic incidents, congestions & emergency response times and improving vehicle tracking & transit scheduling.
San Jose, CA (PRWEB) December 3, 2007 -- World intelligent transportation systems market is forecast to maintain a high CAGR of 11.6% over 2000-2010 and reach US$12.5 billion in 2010. United States constitutes the largest market for intelligent transportation systems, with an estimated share of about 40% in 2007, while Europe represents the second largest market accounting for sales of about US$2.5 billion in 2006. In terms of segment, advanced traffic management systems (ATMS) market, expected to account for an estimated 41.3% share in 2007, represents the largest segment, while electronic toll collection systems (ETC) market is the fastest growing segment, with a CAGR of 17% over 2000-2010.
Unlike any other manufacturing industry that has witnessed phenomenal value migration from manufacturing to the systems integrators, the ITS industry is still fragmented, and each module maker plays a key role in the market. Technology enablers and system integrators equally share the responsibility for advancing the industry's future and are hence, accorded equal importance. Apparently, in the ITS industry, strategies when combined across board, comprise the industry size.
Rising impetus for enhancing road safety and escalating socio-environmental and economic implications of traffic congestions worldwide are the key rationale for investments in intelligent transportation systems. Banking on the ever-growing fundamental vitality of the said implications, these are likely to remain strong growth propellants for the sector in the forthcoming years.
With a broad market vertical encompassing numerous technology and application developing companies innovating a diverse range of complementary products and integration platforms, the industry is likely to witness a wealth of strategic technological and product development alliances attempting to buck up the mushrooming popularity of intelligent transportation worldwide. Given the overwhelmingly shrunk development cycles, enormous costs of research and design, and evolving multiplicity of complementary technologies, alliances are emerging as the only way to cash in on the fast rising opportunity, without entailing big-ticket investments, both in terms of time and money.
TransCore Inc. of the United States is one of the global leaders in Intelligent Transportation Systems (ITS) market. Other leading players in various segments of ITS market include XATA (a worldwide leader in providing fleet management solutions), Mark IV [a developer of dedicated short-range communication (DSRC) equipment that finds application in ITS areas such as electronic toll collection and commercial vehicle operations (e.g. automated weigh station bypass), Siemens Transportation (a global leader in transportation systems) and Magellan of USA (a premier manufacturer and provider of global satellite positioning, navigation, and guidance equipment).
The comprehensive research report titled "Intelligent Transportation Systems: A Global Strategic Business Report", published by Global Industry Analysts, Inc., analyzes similar market trends with hard-to-find data and analytics for key regions such as the United States, Europe, Japan, and Rest of World (Canada, Asia-Pacific, Latin America, and the Middle East). Product segment analyzed by value include; Advanced Traffic Management Systems (ATMS), Electronic Toll Collection (ETC) Systems, public vehicle transportation management systems (PVTMS), commercial vehicle operations (CVO) systems and other intelligent transportation systems (including advanced vehicle information systems). The report discusses the prevailing trends, new product developments, consumption patterns, demand forecasts, mergers, acquisitions, and other strategic industry activities affecting the ITS industry, and is an easy guide to What, Why, When, How, Where, and Who of the industry.
Developers of key enabling technologies covered in the study include ADDCO, Inc., ARINC Incorporated, Image Sensing Systems Inc., INIT Innovation In Transportation Systems, AG, Magellan, MARK IV Industries Corp - IVHS Division, NAVTEQ Corporation, Siemens Transportation Systems Inc., SIRIT Technologies Inc., and TransCore Inc. System integrators covered include Affiliated Computer Services Inc, Citilog SA, ItraMAS Corporation Sdn Bhd, Q-Free ASA, SpeedInfo, Inc, Tacel Ltd., Traficon N.V, Transdyn Controls, Inc., and XATA Corporation.
For more details about this research report, please visit http://www.strategyr.com/MCP-1109.asp
About Global Industry Analysts, Inc.:
Global Industry Analysts, Inc. (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press@StrategyR.com
Web Site www.StrategyR.com
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