According to a new report on Intelligent Transportation Systems Market released by insightSLICE, increasing investment by manufacturers to introduce innovative products to the market is expected to drive growth.
Global Intelligent transport system Market size 2021 | The impact of Covid-19 on the global healthcare industry analysis by size, trends, growth, share, key players, merger, statistics, competitive landscape and regional forecast to 2031 is the latest study published by insightSLICE. The intelligent transportation systems market is expected to grow at a CAGR of 4.5% in 2020 and 2030. The intelligent transportation systems market has been growing steadily over the past decade. The contribution of market players in terms of innovation, turnover and geographic penetration has been remarkable.
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The addition to the application portfolio is another reason for the growth of the intelligent transportation systems market. Favorable regulations from regulatory authorities add to the growth of the market. Demand in all areas of application has been dynamic from the start. This is due to the wide range of options offered by market players.
The research report includes a separate chapter for qualitative analysis. We followed a descriptive approach when writing the chapter. Both macro and micro economic factors define market share and growth. These factors have been carefully understood through secondary and primary sources. All these factors have been explained under headings, namely growth factors, growth restraining factors, market and technology trends etc. Based on contribution and growth potential, five countries were chosen for the PESTEL analysis and the same was described in the report.
The intelligent transport systems market is highly competitive with a mix of global and regional players. Major players strive to maintain their share while regional players strive to meet domestic demand. Import-export trade is actively carried out by global players with the support of intermediaries. The report explains the composition of the intelligent transportation systems market. The market share held by the major global players is estimated and presented in this report. A dedicated section includes the profiles of the main players in the global market. Profiles include information relating to geographic reach, offerings, financial performance, strategic movements, etc.
The major players active in the global intelligent transportation systems market include ADDCO, Agero, Inc., DENSO COMPANY, EFKON GmbH, Garmin International, Inc., Hitachi, Ltd., Iteris, Inc., Kapsch TrafficCom, Lanner, Nuance Commission, Inc., Q-Free ASA, Ricardo, Sensys Networks, Inc., Siemens AG, Telenav, Inc., Thales Group, TomTom International, TransCore, and Xerox Corporation.
Market segmentation as below:
- Advanced traffic management system
- Advanced traveler information system
- Transport pricing system activated
- Advanced public transport system
- Commercial vehicle operation
By application :
- Road traffic management
- Road safety and security
- Freight management
- Public transport
- Environmental Protection
- Automotive telematics
- Parking management
- Road toll systems
(regional production, demand and forecast by country)
The performance of the Intelligent Transportation System Market in five major global geographies, North America, Europe, Asia-Pacific, Middle East & Africa, and South America was independently assessed. There are specific chapters for each region and they include a cross-sectional analysis. The trends prevailing in the main countries of each region have been carefully identified and explained. The root level developments that have been captured by the author of this report have led to some insightful data.
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Market sizing and forecasting
Based on significant primary and documentary research as well as analysts understanding, the revenue of Intelligent Transportation System market has been estimated. A balanced approach including bottom-up and top-down searches leads to high precision. Documentary research sources include company annual reports, white papers, organization statistics, paid databases, etc. While the primary sources are first-hand and include contributions from ecosystem participants, namely manufacturers, intermediaries, integrators, consultants, buyers and end users. Data validation is ensured because there is an understanding of supply and demand. The growth of the Intelligent Transportation System Market is influenced by factors such as demand in all applications, regulatory framework, geographic penetration, etc.
Consequences of COVID-19
The unforeseen global crisis: COVID-19, has made it difficult for almost every industry and the intelligent transportation systems market is no exception. In order to obtain the real-time developments of the Intelligent Transportation System market, our analysts have been engaging with active participants of the industry. The consequences of the pandemic and the temporary arrangements made by ecosystem participants to deal with the situation have been cited in this report. Estimates from industry players and our analysts related to the recovery path were highlighted.
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