In 2015, the global intelligent transportation system stood at $ 20.94 billion. Intelligent Transport Systems (ITS) is being increasingly being adopted with advanced security and security measures to reduce road accidents. Development and the developed economy are focusing on the presence of such measures to increase the network of roads and infrastructure, which is a trend that would be beneficial to the market. To learn more about this report, request a free sample copy is a combination of information technology and communication with traffic structure that improves travel safety and increases the efficiency of the total transportation process Expect to reduce road accidents and travel time with an effective transport system.
Various economists are tackling increasing traffic issues and are planning new solutions that integrate communication and electronic technologies. Improved movement of goods and traffic for customers and the possibility of reaching traffic better. It is likely that ITS work may increase during the forecast period.
Improved traffic efficiency enables transport authorities to respond promptly to emergency situations. Using such intelligent systems improves efficiency in traffic management and reduces travel time. Use of public transport reduces atmospheric pollution and carbon dioxide emissions.
According to the Development Department of the Transport Ministry of the Republic of Korea, it helps in reducing the use of fuel and greenhouse gas emissions due to IT’s inability to stay inactive and reduce traffic infractions. In April 2016, keeping in mind the same things as the U.S. Department of Energy and Transportation, collaboration announced to increase research and development of new Smart Transport Solutions and alternative fuel technology.
It facilitates commuters smoothly, even if they are driving automobiles or using public transportation. Recently, the demand for mobile communications for public transport has increased in relation to public safety concerns. Modern transport service providers are using a variety of vehicle computing systems which are combined with tracking and monitoring to ensure the safety of their passengers.
Due to increasing use of real time data through traffic management center, it is expected to make better decisions and to drive intelligent ITS demand to solve traffic problems. The demand for connectivity of V2V and V2I for road safety will be encouraged. Interoperability issues between users and control units can work as a restriction for the future industry. However, the purpose of establishing authentication and an integrated technology is to solve these issues through effective communication.
Its industry shareholders include IT and IT solutions solutions, hardware providers, end user solution providers, and system integrators End users include the National and Regional Transport Authority, which will install the ITS to manage the entire transport network operations. They interact with public and private transport operators to share related information related to traffic through satellite-based or wireless communication devices.
Segments Covered in the Report
This report estimates the revenue growth in global, regional and country levels and analyzes the latest industry trends in each sub-sector from 2014 to 2024. For the purpose of this study, the Grandview Research has divided the World Intelligent Transport System market report on the basis of type, application and region:
Type Outlook (Revenue, USD Billion, 2014 – 2025)
• Cooperative vehicle systems
Application Outlook (Revenue, USD Billion, 2014 – 2024)
• Traffic Management
• Road Safety and Security
• Freight Management (Commercial)
• Public Transport
• Environment Protection
• Automotive Telemetric
• Parking Management
• Road User Charging
Regional Outlook (Revenue, USD Billion, 2014 – 2024)
• North America
• Asia Pacific
• Rest of the World (RoW)
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