DALLAS, TX -- According to a new market research report on the "Intelligent Transportation System Market by Component (Interface Board, Sensor, Surveillance Camera and Others), System (ATMS, ATIS, ITS-Enable Transportation Pricing System, APTS, and CVO), Application, and Geography - Analysis & Forecast to 2015 - 2020" published by MarketsandMarkets, the Intelligent Transportation System Market is expected to grow at a CAGR of 11.57% between 2015 and 2020, and reach $33.89 Billion by 2020.
The continuous innovation in this market has helped improve transportation management and reduce traffic congestion. Currently, the application in advanced traffic management systems (ATMS) leads the overall market. ATMS has been the most successful and adaptable system of ITS due to its different functions such as real-time traffic monitoring, traffic signal controlling, incident monitoring, automated warning, dynamic message sign monitoring, traffic camera monitoring, and road weather information monitoring. This has resulted in a wide utilization of these systems in many applications.
The report covers the global Intelligent Transportation System Market and all its aspects such as opportunities, drivers, and restraints in detail. In this report, the overall market has been divided into five major segments components, systems, applications, and geography. This is a growing market; it is segmented based on systems into advanced traffic management system, advanced traveler information system, ITS-enabled transportation pricing system, advanced public transportation system, and commercial vehicle operation system. The application segment includes fleet management and asset monitoring, traffic monitoring system, traffic signal control system, collision avoidance system, variable traffic message sign, parking availability system, traffic enforcement camera, and automotive telematics. The component segment has been divided into interface boards, sensors, software, surveillance cameras, telecommunication networks, and monitoring and detection systems.
The geographic split of this market has been included in the report. The overall market has been divided into four major geographic regions, namely- North America, Europe, APAC, and RoW. Among all, North America currently leads the overall intelligent transportation system market.
Major players in this market are Thales Group (France), Garmin International Inc. (U.S.), Kapsch TrafficCom AG (Austria), TomTom International BV (Netherlands), Nuance Communications Inc. (U.S.), and Q-Free ASA (Norway).
Browse 96 market data Tables and 58 Figures spread through 206 Pages and in-depth TOC on "Intelligent Transportation System Market" at http://www.marketsandmarkets.com/Market-Reports/intelligent-transport-systems-its-market-764.html
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