Intelligent Transportation System (ITS) Market Worth 63.66 Billion USD by 2022

PUNE, India, July 12, 2016 /PRNewswire/ --

According to new market research report "Intelligent Transportation System Market by Roadway (Hardware, Software, & Services), Aviation Tool (Kiosk, Multi-User Flight Information Display, and Smart Gate System), Railway, Maritime, Protocol, Application, and Geography - Global Forecast to 2022", published by MarketsandMarkets, the ITS market size, in terms of value, is expected to grow from USD 36.10 Billion in 2015 to USD 63.66 Billion by 2022, at a CAGR of 8.3% between 2016 and 2022.

     (Logo: http://photos.prnewswire.com/prnh/20160303/792302 )

Browse 70 market data Tables with 101 Figures spread through 226 Pages and in-depth TOC on "Intelligent Transportation System Market"

http://www.marketsandmarkets.com/Market-Reports/intelligent-transport-systems-its-market-764.html
Early buyers will receive 10% customization on this report.

The major growth drivers for the ITS market include the rising concern for the safety of drivers and pedestrians, increasing allocation of funds by various governments to promote ITS, and growing environmental concerns.

Roadway transportation mode to lead the intelligent transportation system market 

The roadway transportation mode is expected to hold the largest share of the Intelligent Transportation System Market between 2016 and 2022 owing to the increasing concern for the safety of drivers and pedestrians. Intelligent transportation systems can deliver important safety benefits and also help solve various road safety problems through communication between these systems and road users. The ITS-based applications such as real-time traffic alerts, collision avoidance, anti-lock braking, lane departure, and crash notification systems principally focus on offering safety.

Commercial vehicle operation system market in roadway transportation to grow at the highest CAGR 

Commercial vehicle operation (CVO) encompasses service and repair vehicles, private buses & taxis, and trucks. The monitoring and information system in CVO helps a driver find safe routes and track the total travel time, in addition to enabling the owner to monitor the vehicle. The increasing demand for the expansion of transportation networks and growth in the logistics sector are key reasons for the growing demand for commercial vehicle operation systems.

North America held the largest share of the intelligent transportation system market in 2015 

North America held the largest share of the intelligent transportation system market in 2015 because of the presence of many key companies in the ITS market expanding their production and distribution across North America. Also, the various infrastructural initiatives taken by the government are expected to drive the ITS market in this region.

Inquiry Before Buying: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=764

Some of the major players in the intelligent transportation system market are Thales Group (France), Siemens AG (Germany), Garmin Ltd. (Switzerland), Kapsch Trafficcom (Austria), Tomtom International BV (the Netherlands), Q-Free ASA (Norway), Denso Corporation (Japan), Efcon AG (Austria), Lanner Electronics (Taiwan), Savari Inc. (U.S.), Transcore Inc. (U.S.), Iteris Inc. (U.S.), Atkins Group (U.K.), and Ricardo plc. (U.K.) among others.

Browse Related Reports 

IoT Market in Intelligent Transportation Systems by Components (Semiconductor, Wireless, and Others), Products, Software & Services, Verticals (Road, Rail, Air, and Maritime), Solutions, Applications, and Geography - Analysis & Forecast to 2014 - 2020
http://www.marketsandmarkets.com/Market-Reports/iot-in-transportation-market-48213177.html

Australia Intelligent Transport System (ITS) Market by Application, System (ATMS, ATIS, ITS- Enabled Transportation Pricing System, APTS and CVO), and Territory (New South Wales, Victoria, Queensland, Western Australia, Rest of Australia) - Forecast to 2020
http://www.marketsandmarkets.com/Market-Reports/australia-intelligent-transport-system-market-195337027.html

Know More About our Knowledge Store @ http://www.marketsandmarkets.com/Knowledgestore.asp

About MarketsandMarkets 

MarketsandMarkets is the world's No. 2 firms in terms of annual published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical info graphics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:
Mr. Rohan
Markets and Markets
 UNIT no 802, Tower no. 7, SEZ
Magarpatta City, Hadapsar
Pune, Maharashtra 411013, India
Tel: + 1-888-600-6441
Email: sales@marketsandmarkets.com
Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets

SOURCE MarketsandMarkets