Intelligent Transportation Systems Market (by Components, Applications, Systems & Geography) to Reach $33.75 Billion by 2020 - New Report by MarketsandMarkets
(PRWEB) November 06, 2014 -- The report of “Intelligent Transport Systems Market Analysis and Forecast to 2014 - 2020”, defines the intelligent transport system market based on various solutions, services, deployment types, user types, and industrial verticals with an in-depth analysis and forecast of market sizes. The report also identifies the factors driving this market, various restraints, and opportunities impacting it along with the adoption trends.
Browse 165 market data tables 75 figures spread through 371 pages and in-depth TOC on “Intelligent transportation system market”
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The Intelligent transportation system is the integration of information technology, communication systems and transport infrastructure. This system is implemented in order to have safe transportation, mobility and improve productivity of the transportation sector. In current scenario, Americas hold the largest share in the intelligent transportation system market which is mainly contributed by the U.S., followed by Canada and Mexico. APAC is expected to grow at a faster rate owing to the population growth in urban areas which causes traffic congestion, rising income, and economic growth prevailing in the countries, in this region. In order, to reduce the traffic congestion problems and accidents, countries have started deploying intelligent transportation systems in the infrastructure.
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Intelligent transportation systems has been categorized by different systems such as advanced traffic management system, advanced traveler information system, ITS enabled pricing system, advanced public transportation system, and commercial vehicle operation. Advanced traffic management system and transportation pricing system will remain at the top by 2017. There are numerous deployments of the ITS systems happening all over the world. This will boost the market for the different systems in ITS. The demand for transportation pricing system is increasing due to the increasing development of the electronic toll booths on the expressways and highways in the developed countries like the U.S., Germany, etc. as well as in the developing countries like India, China, and South Korea.
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