Published By : 17 Oct 2016 | Published By : QYRESEARCH
Transport is an integral part of the infrastructural development and thus forms the backbone of every major development in a nation. As several developing nations are limping back to normalcy post economic recession, the demand for transport has also shot up by leaps and bounds. In the past few years, the demand for transport has evolved, finding itself in need of smart solutions to keep up with the pace of overall development across the globe. In order to cater to these needs, players such as Siemens, Hitachi, Garmin International, and TomTom N.V. are offering intelligent transportation systems that encompasses more than conveyance of goods from one point to the other.
Advanced Transportation Management Systems Lead Global ITS Market
The types of intelligence transportation systems available in the global market are ATIS, ATPS, ATMS, APTS, ANPR, and cooperative systems. Of these, the advanced transportation management systems (ATMS) remains in popular demand as it offers advanced traffic management solutions. Thus, there has been a considerable growth of this segment in the urban areas that required effective solutions to maintain congestion free streets. Analysts predict that the public transportation systems are also likely to pick up pace in the coming years.
Traffic Management Remains Key Segment of ITS Market
Intelligent transportation systems are used for road safety and surveillance, freight management, environment protection, parking management, road user charging, automated vehicles, automotive telematics, and traffic management. Research states that traffic management holds a lion’s share in the global market and is projected to remain the leading segment in the coming years as well.
Geographically, the global market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Analysts predict that North America will lead the global market due to a higher acceptance of technology in the region.