The Latest report initiated by Evolve Business Intelligence on Intelligent Transportation System Market provides a detailed assessment of the market size and forecast from 2020 to 2028. The global Intelligent Transportation System market size is expected to reach $ Billion by 2028 growing at the CAGR of more than 17% from 2021 to 2028.
Intelligent Transportation System market is one of the largest and fastest growing markets in the transportation sector. One of the major drivers of the Intelligent Transportation Systems Market is growing demand for advanced and efficient infrastructure and transportation infrastructure. Connecting and interconnecting roads and highways and cities and states and countries and continents make the data and information exchange among them easy and safe. This, in turn, will facilitate overall transportation systems to become safer and efficient.
However, it has also witnessed a relative slow adoption rate as compared to other trends and technologies.
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COVID-19 Pandemic has begun striking businesses across multiple sectors and industries including manufacturing, food production, automotive, aerospace & defense companies, government agencies, pharmaceutical manufacturers, and producers of oil & gas products. The repercussions of this pandemic have caused numerous knock-on effects on several worldwide markets which include the Intelligent Transportation System Market as well as many regional economies due to temporary closedown of manufacturing facilities. End-users of these products are also suffering from decreased demand for their goods because businesses are refraining from their long-term strategies in favor of short-term survival.
Key Players profiled in Intelligent Transportation System report:
- DENSO CORPORATION
- Hitachi, Ltd.
- Garmin Ltd.
- Thales Group
- Xerox Corporation
- Iteris, Inc.
- Kapsch TrafficCom
- Siemens AG
The study provides a detailed analysis of major players in the Intelligent Transportation System market which includes manufacturers, suppliers, and organizations, among others. The competitor analysis includes revenue regeneration, business segment analysis, and geographic presence across each country, key strategies and developments, product portfolio, and SWOT Analysis.
Global Intelligent Transportation System Market Segmentation:
- Based on Type
- Based on System
- Advanced Traffic Management System
- ITS-Enabled Transportation Pricing System
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Global Intelligent Transportation System Market Geographic Coverage:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
- South America
- Middle East & Africa
With the increasing trend in global logistics and transportation management, the Intelligent Transportation Systems (ITS) market is expected to gain momentum in the near future in North America. The demand for efficient and smarter systems is on the rise and this is expected to create new revenue and business opportunities in the market.
It is worth noting that the market in the U.S. is expected to hold the largest share in the overall market in North America. The market in Canada is also projected to show lucrative growth mainly due to the increasing investment from government and private players in the development of ITS solutions.
IMP NOTE: All our reports will be updated considering the impact of the COVID-19 scenario.
Crucial pointer covered in the report:
Intelligent Transportation System Market Understanding: This section of our report outlines pertinent topics about the market that we have researched and the direction we see the industry heading. These include, but aren’t limited to segments discussed, company descriptions, and key statistics regarding customer growth. This section provides a detailed analysis of the present and future growth factors of bifurcating the market into types, systems, and regions.
Intelligent Transportation System Market Dynamics: This section provides a detailed analysis of the growth factors, restraining factors, and business opportunities. Additionally, the report provides a detailed COVID impact analysis affecting the market growth, along with a pinpoint focus on industry policies, regulatory framework, current issues impacting the market growth at the national/international level.
Intelligent Transportation System Market Regional Outlook: The country section is a breakdown by country of how the production and consumption rates correspond to each other.
Intelligent Transportation System Market Competitor Landscape: This section provides a comprehensive analysis of the market share and a deep-dive analysis of the top 10 players covered in the market report.
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