HOME Press Releases Intelligent Transportation System Market worth 30.38 Billion USD by 2022

Intelligent Transportation System Market worth 30.38 Billion USD by 2022

The 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", The intelligent transportation system market for roadways is expected to be valued at USD 30.38 Billion by 2022, growing at a CAGR of 6.8% between 2016 and 2022.

Browse 70 market data tables and 101 figures spread through 226 pages and in-depth TOC on "Intelligent Transportation System Market - Global Forecast to 2022"
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The growth of this market is driven by the increasing need for safety, growing requirement for advanced traffic congestion solutions, increase in government fund allocation for effective traffic management, rising demand for environmental protection and ecological environmental improvement.

The 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 and 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, various infrastructural initiatives taken by the government are expected to drive the ITS market in this region.

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 (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 many others.

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