The Global Intelligent Transportation Systems and
Services (ITSS) Market is Expected Reach US$ 80.00 Bn by 2022
According to a
new market report published by Credence Research Reports “Intelligent
Transportation Systems and Services (ITSS) Market - Growth, Share,
Opportunities, Competitive Analysis, and Forecast 2015 - 2022,” the global
intelligent transportation systems and services (ITSS) market is expected
surpass US$ 80.00 Bn by 2022, with its rising need to reduce congestion across
the world. ITSS helps to improve the efficiency of the existing road networks,
reduces road casualties and reduces emission of hazardous pollutants. Rising
benefits a about these systems is expected spur the adoption of intelligent
transportation systems and services across the world.
Browse Full Report at (Intelligent Transportation
Systems and Services (ITSS) Market - Growth, Share, Opportunities &
Competitive Analysis, 2015 - 2022) http://www.credenceresearch.com/report/intelligent-transportation-systems-and-services-itss-market
The advanced
transportation systems segment accounted for the largest revenue share in 2014
and is expected remain the dominant segment through the forecast period 2015 –
2022. This primarily attributed to rising investment in advance traffic management
solutions in order to improve the traffic flow on both urban and inter-urban
road networks. Advance transportation systems also reduces economic burden on
governments by reducing congestion and fuel consumption. Increasing number of
public transport users forcing transport authorities to improve efficiency and
quality of services. This is expected to increase the demand for advanced
intelligent transportation systems used in public transportation applications.
Automobile
manufacturers are increasingly installing telematics systems in their new
vehicles to offer competitive products to their customers. This is increasing
the demand for automotive telematics across the world. Automotive telematics
systems include GPS system, dashboards, advanced drive assistance systems, vehicle
cameras, radios and others systems integrated in the vehicles for real time
information weather traffic and other information with the driver. The market
for ITSS used in telematics applications is expected to grow at a CAGR of 8.0%
throughout the forecast period. The automotive telematics is the second fastest
growing application segment for ITSS solution after environment protection
application. Road safety, parking management, road user charging and traffic
management are some other major applications also expected to see significant
growth through the forecast period.
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Reports Related to This Category @ http://www.credenceresearch.com/industry/automotive-and-transportation-market
Based on
components, we have also classified intelligent transportation systems and
services into two categories i.e. systems (hardware) and services. Services
include software and communication services. The services segment is both the
largest as well as fastest growing segment in the overall ITSS market by
component.
The global
intelligent transportation systems and services market is highly competitive
and comprise of larger number of international players. Garmin International
Inc, Siemens AG, Kapsch TrafficCom, Hitachi, Q-Free ASA, SWARCO AG, TomTom NV
Xerox Corp, IBM Corp and Denso Corp are some major international players in the
intelligent transportation systems and services (ITSS) industry.
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