Top 10 Companies in Intelligent Transportation System (ITS) Market
The premium Intelligent Transportation System (ITS) Market ?research report is an essential component of organizing corporate goals or objectives. It is a methodical way to compile and record data on the market, industry, or future clients related to Intelligent Transportation System (ITS) Market. The creation of the title page, the attachment of a table of contents, editing it in the executive summary, writing the introduction, writing the qualitative research and survey research segment, summarizing the types of data used in drawing conclusions, disseminating research findings, and concluding with a call to action by the reader are the steps that go into creating this report.
In addition to helping to more effectively plan investment, advertising, promotion, marketing, and sales strategies, the information in the convincing Intelligent Transportation System (ITS) Market business research also supports the making of wise and effective judgments. Businesses can utilize this data to describe their unique tactics. This report's competition analysis looks at the competitive landscape, top market players' core strengths, and strategic profiling. An analysis of the primary obstacles that the company is presently facing as well as potential future obstacles that it may encounter while operating in this industry are also taken into consideration. A study on keyword marketing includes clear research investigations conducted by a group of subject-matter specialists in their respective fields.
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The performance and dependability of the road network are improved by systems, which also include ramp metering systems, bridge traffic management systems, and vehicle detection systems. Through the increased travel times and fuel consumption, regular traffic jams frequently cause significant financial losses. Traffic congestion is a persistent problem that affects people's quality of life globally and uses a lot of fuel. Intelligent transportation systems are anticipated to increase market demand and lighten the financial burden on governments, making the role of government bodies crucial for introducing new technologies into the country.
Data Bridge Market Research analyses that the intelligent transportation system (ITS) market, valued at USD 28.25 billion in 2022, will reach USD 59.12 billion by 2030, growing at a CAGR of 9.67% during the forecast period of 2023 to 2030.?In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.????
Market Definition
Intelligent transportation system (ITS) refers to a combination of advanced technologies, communication networks, and information systems applied to transportation infrastructure and vehicles with the aim of improving efficiency, safety, and sustainability in transportation systems. ITS integrates various components such as sensors, data collection devices, traffic management systems, communication systems, and intelligent algorithms to enable real-time monitoring, analysis, and management of transportation networks. It encompasses a wide range of applications, including traffic management, intelligent traffic signal control, incident detection and management, traveller information systems, vehicle-to-vehicle and vehicle-to-infrastructure communication, and advanced driver assistance systems.
Opportunities
· Advancements in technology create a lucrative opportunity to grow
Advancements in technology have played a crucial role in driving the growth of the intelligent transportation system (ITS) market. Technologies like?artificial intelligence , the Internet of Things (IoT), big data analytics, and connectivity have opened up new possibilities for ITS solutions. Real-time monitoring systems enable the collection of accurate and timely data from various sources, allowing for a better understanding of traffic patterns and congestion. Artificial intelligence algorithms enable intelligent traffic management, adaptive signal control, and dynamic routing. These advancements have revolutionized transportation systems, enhancing efficiency, safety, and overall user experience.
· Safety and security create an opportunity to grow
Safety and security are significant drivers for the adoption of intelligent transportation systems (ITS). Intelligent traffic management systems use real-time data and advanced algorithms to optimize traffic flow, reducing the risk of accidents and congestion. Vehicle-to-vehicle communication enables vehicles to exchange information, such as location and speed, to enhance situational awareness and avoid collisions. Driver assistance systems, including lane departure warnings, adaptive cruise control, and collision avoidance systems, help prevent accidents and mitigate their severity. ITS also facilitates emergency management by enabling quick responses to incidents and providing real-time information to emergency services. By leveraging these technologies, ITS improves road safety, reduces accident rates, and enhances the overall security of transportation systems.
Recent Developments
· In 2021, In order to provide a time-as-a-service (JTaaS) solution to help the British public authorities reduce traffic congestion, Siemens Mobility, a subsidiary of Siemens AG, integrated HERE Technologies' corridor travel time Application Program Interface (API). With the integration, Siemens Mobility will be able to provide the option for the public and traffic authorities in the UK to track travel times without the use of extra hardware like Wi-Fi sensors and ANPR cameras with Bluetooth.
· In 2021, In order to provide navigation and location-based services for SIAC's internal combustion engine (ICE) vehicles and battery-powered electric vehicles (BEV), Telenav, Inc. partnered with an automotive company SAIC. The solution meets BEV and ICE requirements in regions with both left- and right-hand driving, as well as providing a seamless onboard navigation experience that is optimized to provide end users with up-to-date maps and online content while consuming less mobile data, creating significant opportunities for the ITS market.
Global Intelligent Transportation System (ITS) Market Scope
The intelligent transportation system (ITS) market is segmented on the basis of mode of transport, offering, system, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Mode of Transport
· Roadways
· Railways
· Airways
Offering
· Hardware
· Interface Boards
· Multifunctional Boards
· Vehicles Detection Boards
· Communication Boards
· Sensors
· Vehicles Detection Sensors
· Pedestrian Presence Sensors
· Speed Sensors
· Surveillance Cameras
· Thermal Cameras
· AID cameras
· Telecommunication Networks
· Fiber Optic Cables
· Copper Lines
· Wireless Media
· Monitoring and Detection System
· Automatic Number Plate Recognition System
· Intelligent Traffic Controllers
· Others
· Software
· Visualization Software
· Video Detection Management Software
· Transit Management Software
· Others
· Services
· Business and Cloud Services
· Support and Maintenance Services
System
· Advanced Traffic Management System
· Advanced Traveller Information System
· Advanced Transportation Management System (ATMS)
· ITS-Enabled Transportation Pricing System
· Advanced Public Transportation System
· Commercial Vehicle Operation
· Emergency Medical System (EMS)
· Advanced Transportation Pricing System (ATPS)
· Advanced Public Transportation System (APTS)
· Cooperative Vehicles System (CVS)
· Automatic Number Plate Recognition System (ANPR)
Application
· Roadways
· Fleet Management and Asset Monitoring
· Intelligent Traffic Control
· Traffic Monitoring System
· Traffic Signal Control Systems
· Traffic Enforcement Cameras
· Variable Traffic Message Signboards
· Collision Avoidance
· Parking Management
· Passenger Information Management
· Ticketing Management
领英推荐
· Emergency Vehicle Notification
· Automotive Telematics/ Vehicles
· Railways
· Rail Running Operation and Collision Avoidance
· Passenger Information Management
· Smart Ticketing
· Security and Surveillance
· Emergency Notification
· Others
· Aviation
· Security and Surveillance
· Shuttle Bus Tracking
· Traveller Information Management
· Smart Ticketing
· Aircraft Management
· Emergency Notification
· Others
· Maritime
· Freight Arrival and Transit
· Real time Weather Information Tracking
· Container Movement Scheduling
· Emergency Notifications
· Others
Some of the major players operating in the intelligent transportation system (ITS) market are:
· Thales (France)
· Siemens (Germany)
· Cubic Transportation Systems, Inc (U.S.)
· EFKON GmbH (Austria)
· TomTom International BV (Netherlands)
· Teledyne FLIR LLC (U.S.)
· GeoToll, Inc. (U.S.)
· Electricfeel (Switzerland)
· DENSO CORPORATION (Japan)
· Iteris, Inc. (U.S.)
· Ricardo (U.K.)
· TransCore (U.S.)
· Lanner (Taiwan)
· Agero, Inc. (U.S.)
· LOGISTEED, Ltd (Japan)
· Sensys Networks, Inc. (U.S.)
· Conduent Business Services, LLC (U.S.)
· Advantech Co., Ltd. (Taiwan)
· Clever Devices Ltd (U.S.)
· ETA Transit Systems, Inc. (U.S.)
· GMV Innovating Solutions S.L. (Spain)
· Moxa Inc. (Taiwan)
· RHYTHM ENGINEERING (U.S.)
· Telegroup (Serbia)
· Transmax Pty Ltd. (Australia)
· Trapeze Software ULC (Canada)
· 3M (U.S.)
Key Insights Of Intelligent Transportation System (ITS) Market Report
· The report comprises a detailed analysis of different segments and offers market valuations between 2023 to 2030.
· This study presents the analytical depiction of the Intelligent Transportation System (ITS) Market ?with the current trends and future estimations to determine the imminent investment pockets
· The report also reveals information with respect to key drivers, restraints, and opportunities coupled with a comprehensive analysis of the global Intelligent Transportation System (ITS) Market
· The forecast period of the market is assessed from 2024 to 2030 to highlight the Intelligent Transportation System (ITS) Market growth scenario.
· Porter’s five forces analysis establishes the effectiveness of the buyers and suppliers in the business line.
· The key players in the industry are profiled to gain an understanding of the strategies adopted by them.
· This report provides the current trends and future estimations during the forecast period, which in turn aids in identify the prevailing market opportunities.
The company portfolio includes company synopsis, operating business sectors, business overview, product/service categories, and recent growth strategies adopted by them.
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