Published on : Apr 12, 2016
ALBANY, New York, April 12, 2016 - Marketresearchhub.com MarketResearchHub.com has added the ‘Global Intelligent Transport System Market 2016-2020’ report to its offering. This report provides an in-depth evaluation of the market on the basis of type of system, application, and geography. The study also encapsulates the major factors influencing the growth of the market such as the market growth drivers, inhibitors, opportunities, and trends. The value chain evaluation presents details on the role of each of the stakeholders within this market.
Analytical tools such as Porter’s five forces analysis help present an extensive understanding of the threat of new entrants and substitutes, buyers and suppliers, and the market’s competitive scenario. In addition, the study also comprises the SWOT analysis and current developments of the chief players operating in the market. Furthermore, the prominent trends as well as opportunities in the key geographical segments have also been elaborated, thus enabling companies to be able to make region-specific strategies for gaining competitive advantage.
The report begins by providing a market overview, which includes the market definition, market size, and market forecast. As stated in the report, the global intelligent transport systems (ITSs) market is predicted to expand at an 8.23% CAGR from 2016 to 2020. Intelligent transport systems help in the integration of communication technologies and information with transportation networks for enhancing their operating efficiency as well as to enhance the travel experience of individuals. Moving further, the report segments the market on the basis of product into the global network management market, the global road safety systems market, the global automotive and infotainment telematics market, the global transport communication systems market, the global road safety systems market, the global transport security systems market, the global public transport ITS market, and the global freight and commercial ITS market.
In the next section, the report states that ITSs are utilized in a number of applications, particularly in the construction sector, by municipal authorities and governments globally. These systems also find their application in the detection of vehicle location, prevention of accidents, controlling levels of emission, and for handling congestion. In terms of geography, the report segments the market into Europe, North America, Asia Pacific, and Rest of the World (RoW). Moving further, the study highlights the key drivers and restraints impacting the growth of the market. The rising requirement for public safety is amongst the prime factors stimulating the growth of the market for intelligent transport systems. The introduction of smart vehicles on smart roads is a key trend prevalent in the market. On the other hand, the rising complications in security and safety threats, requiring even higher intelligence for countering them, are amongst the chief factors inhibiting the growth of the market.
At the end of the report, the vendor landscape section is presented. The prime vendors operating in the market for intelligent transport systems are 3M, Denso, Garmin, Omron, Hitachi, EFKON, Kapsch TrafficCom, Traffic Tech Middle East, TransCore, TomTom, Xerox, and SAIC, among others.
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