Intelligent Transportation System Market

Thales (France) and Siemens AG (Germany) are the Major Players in the Intelligent Transportation System Market

The growth of intelligent transportation system (ITS) market is fueled by the factors such as increasing concerns related to public safety, increasing traffic congestion problem, and favourable government initiatives for effective traffic management. The ITS market in roadways is expected to be worth USD 23.35 Billion in 2018 and USD 30.74 Billion by 2023, at a CAGR of 5.65% between 2018 and 2023. Currently, the key players in this market are adopting development strategies such as contracts, product launches, developments, and mergers and acquisitions to grow in the market.

Q-Free ASA (Norway) is one of the leaders in intelligent transportation systems. The company’s prime business is to develop and supply intelligent transportation systems-related products and solutions and has 30 years of experience in the ITS industry. The company has a specialty of covering the entire value chain of ITS market by providing products and integrating them with the solutions for commercial operation of the systems. It is a supplier of products and solutions for the applications like Electronic tolling system, Traffic management system, and Transportation management system and also provides some of the equipmentrelated to the intelligent transportation systems which includes on board units, optical character recognition and so on. The company is a leading international supplier of ITS products and gets many contracts from the companies and also acquires many companies such as Elcom (Serbian) and TCS International Inc. (U.S.) in order to increase its product portfolio by making expansions.

TomTom NV (the Netherlands),is a prominent player in ITS industry. The company has a wide geographic reach and has its presence in Europe, North America, as well as in Australia, Brazil, Argentine, Morocco, New Zealand, South Africa, and Taiwan. The company’s business segments constitutes of automotive segment which comprise; high speed cameras, 3D navigation and advanced driver assistance system. The other segment is consumer segment which includes navigation products and renders real time services to end consumers through navigation devices, mobile phones or internet. The business solution segment of the company provides fleet management services, navigation products and solutions and also service related to telematics. The licensing segment involves selling of real time traffic services and navigation system to the smart phone manufacturers, enterprisesas well asgovernment. The company invests a huge amount in technologies like navigating devices and thereby, planning to stay competitive in the ITS industry.

Related Reports:

Intelligent Transportation Systems Market by Component, Application, System (ATMS, ATIS, ITS- Enabled Transportation, Pricing System, APTS and CVO), by Component, Application and Geography (Americas, Europe, APAC, ROW) Analysis and Forecast to 2014 - 2020

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Report Code
SE 2415
Published ON
Mar, 2018
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