Latest published report on the Intelligent Transportation System market, found on the Qualiket Research website revealed a great deal about various market dynamics. These driving factors influence the market from a very miniscule level to its holistic standard and can traverse limitations to assist the market achieve a significant growth rate over the analysis period of 2020-2027.
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Intelligent transportation system is type of integrated application of communication and information technologies which provide highly efficient transportation related services. This system has various advantages such as operational efficiency, maintaining sustainability of transportation network, enhancing road safety, and reducing traffic congestion.
Increase in adoption of smart transport systems to reduce traffic congestion problems and favorable government initiatives are the key driving factors which are expected to boost global intelligent transportation system market growth. Furthermore, increase in number of vehicles on road, aging infrastructure, and lack of traffic data management will have the positive impact on market growth. Moreover, growing adoption of IoT to transform the transportation industry through automating airways, roadway, and railway transportation system and offer better user experience which is expected to propel the market growth during this forecast period.
However, slow infrastructure growth is the major restraining factor which is expected to hamper the global intelligent transportation system market growth. Also, high cost on installation and lack of standards will affect the market growth.
Market Key Players
Various key players are discussed in this report such as Siemens AG, Thales Group, Garmin,Kapsh Trafficcom, Cubic, Q-Free, EfKon, Flir Systems, Denso, and Tomtom Internations.
• Advanced Traffic Management System
• Advanced Traveler Information System
• Advanced Public Transportation System
• Short Range
• Long Range
• Traffic Management Data Dictionary
• Traffic Management
• Freight Management
• Public Transport
• Road Safety and Security
• North America
• Latin America
• Asia Pacific
• Middle East & Africa
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