Traffic management contributed more than thirty percent of the total market revenue share in year 2013. It is predicted to grow more than 11% during the estimated period. Advanced transportation management systems are used to improve road networks by minimizing the economic load on the regulatory authorities by reducing investments of capital in order to control the congestion of traffic.
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Environmental protection application is predicted to witness a great demand and experience a significant growth during the forecasted period from year 2014 to year 2020. Different nations across the world who are working towards annihilation of vehicular emissions are expected to stimulate the demand for this application all across the globe.
Intelligent Transportation Systems Market By Region:
Geographically, the global intelligent transportation systems market is divided into sub continent of North America, APAC zone, European Continent and Rest of the World. Sub continent of North America led the worldwide market in year 2013 contributing about more than 43.1 % of the total revenue market share. It is predicted to be the market leader during the estimated period. The growing demand for intelligent transportation systems in private sector as well as public sector and government initiatives along with promotional events in countries like US are expected to fuel the growth of the intelligent transportation systems market in sub continent of North America.
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The intelligent transportation systems market of APAC zone is expected to experience a significant demand and growth largely due to availability of huge business growth avenues in countries like India, china Thailand and Malaysia of APAC zone. Also rising demand for sensors which are incorporated into handheld equipments has boosted the growth of the intelligent transportation systems market in the APAC Zone. Further, government rules like industrial safety, welfare act and wealth are predicted to propel the growth of the industry in this region. Also, regulations, government initiatives and research & development activities in nations like Japan and India are projected to boost the demand and growth of the intelligent transportation systems market in Asia Pacific Zone.
In addition to this, heavy investment opportunities in APAC zone and economic growth in regions of South America, Africa and Middle East are predicted to enhance the growth and expansion of global intelligent transportation systems market.
Competitive Landscape:
Key firms included in this market report are Iteris incorporation, EFKON AG, Addco LLC, TransCore Incorporation, DENSO Corporation, Kapsch TrafficCom AG, Agero Incorporation, Hitachi Limited, Q-Free ASA, Siemens AG, Garmin International Incorporation, Iteris Incorporation, Telenav Incorporation, Nuance Communication Incorporation, Thales Group, Lanner Electronics Incorporation, Xerox Corporation, Ricardo PLC, Sensys Networks Incorporation, Telenav Incorporation, TomTom NV and WS Atkins plc.
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Key firm business strategies and plans executed by dealers comprise of product innovation and product development combined with mergers & acquisitions. Further, dealers offer construction and maintenance services for large scale technological deployments. For instance, Hitachi Limited introduced ROPITS – a small self driving car providing pick up and drop facilities for growing amount of old population as well as physically disabled persons.
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Office No 01, 1st Floor,
Aditi Mall, Baner, Pune,
MH, 411045 India
Phone (India): +91 7755981103
Toll Free (US/Canada): +1-855-455-8662
Email: sales@acutemarketreports.com
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