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Intelligent Transportation System Market 2017 Global Key Vendor Agero, Inc., Xerox Corporation, Lanner Electronics Incorporated and Others

(IT-NEWSWIRE.COM, December 09, 2017 ) Information technology has changed many industries, from health care to education to government, and is now in the initial stages of transforming transportation systems. Intelligent transportation system is an integrated application of computer, electronic and communication technologies to offer highly efficient transportation services and management. It aims to provide information to increase efficiency and safety of the transportation system. Various element such as communication technologies, management strategies, telematics and sensor forms the component of ITS. It helps in enhancing the road safety, improve operational efficiency and maintaining sustainability and reducing traffic congestion. ITS involves driver, passenger, vehicles, road operator and manger all are needed to interact with each other and linked with complex infrastructure system to improve the capacity of road system and improve road safety. Intelligent transportation system includes some of the benefits such as reducing infrastructure damage, parking management, traffic control and improving traffic safety. It comprises of electronic toll collection, ramp meter, red light camera, traffic signal coordination and traveler information system.

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One of the major driving factor fueling the growth of intelligent transportation system is increasing number of traffic congestion has led to need for intelligent transportation system for advance CONTROL measure as there is an increase in population growth and number of mega cities. . In addition to this there are several other factors fueling the growth of ITS market such as public private partnership for advanced traffic management, Initiatives such as vehicle to vehicle communication and vehicle to infrastructure and government initiated the implementation of an efficient ITS system. However, the factors hindering the growth of ITS are high installation cost for controlling and monitoring device, slow growth of intelligent infrastructure and lack of standardization and interoperability between different types of transportation. Smart vehicle enabled with intelligent transportation system is expected to boost the market over the forecasted period.

Intelligent transportation system is segmented on the basis of system which includes advanced traveler information system (ATIS), advanced public transportation system (APTS), advanced traffic management system (ATMS), advanced transportation pricing system (ATPS), commercial vehicle operation (CVO) and ITS-enabled transportation pricing system and the market is further breakdown as component as interface board, sensors, surveillance camera, monitoring & detection systems, telecommunication network and others (software, etc. Similarly, the market is further segmented on the basis of application such as traffic signal control system, traffic monitoring system, fleet management & asset monitoring system, parking availability system, traffic enforcement camera, collision avoidance system and others (automotive telematics, etc.).

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The market is segmented into major regions that include North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM). The major countries included are considered in the scope of the study such as U.S, Canada, Mexico, France, Germany, Italy, Spain, UK, China, Japan, India, Australia, South Arabia, UAE, South Africa and Brazil. Some of the key players which dominate ITS are Agero, Inc., Xerox Corporation, Lanner Electronics Incorporated, Nuance Communications, Inc., Denso Corporation, Q-Free ASA, Siemens AG, Hitachi, Ltd., WS Atkins PLC, EFKON AG, Iteris, Inc., Garmin Ltd., Telenav, Inc., TomTom International BV, Kapsch TrafficCom AG, Thales Group, TransCore, LP, Addco LLC, Agero, Inc., Ricardo plc, and Sensys Networks, Inc.

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