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July 28, 2021, 4:40 a.m. EDT

Intelligent Transportation Systems Market Increasing Need for Traffic Management to Surge Demand in Asia-Pacific

Intelligent Transportation Systems Market Key Player Major Companies Analyzed in this Report are Advantech Co., Ltd., Bestmile SA, Clever Devices Ltd., Denso Corporation, EFKON AG, ETA Transit Systems, GMV Group, Hitachi Ltd., Kapsch Trafficcom, Lanner Electronics, Moxa Inc., Nuance Communications, PTV Group, Q-Free ASA, Rhythm Engineering, Telegroup, Thales Group, TomTom N.V., Transmax Pty. Ltd., Trapeze Group, WS Atkins PLC, Xerox Corporation.

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Jul 28, 2021 (The Expresswire) -- The global intelligent transportation system market size will experience promising growth owing to stringent government regulations to reduce traffic across several economies. Fortune Business Insights, in its latest upcoming report, titled “Intelligent Transportation System Market Size, Share and Industry Analysis, By System Type (Advanced Traveler Information System (ATISs), Cooperative Vehicle System (CVOs), Automatic Number Plate Recognition (ANPRs), Advanced Transportation Management System (ATMSs)), By Application Type (Traffic Management, Road Safety, Fleet Management, Automotive Telematics) Others and Regional Forecast, 2019-2026.”, predicts positive growth for the market during the forecast period.

The origin of intelligent transportation system dates back to the 1960s, when the U.S. developed its Electronic Road Guidance System, to regulate the flow of the traffic. In 1994, the World Congress, Paris sped up the development and application of the intelligent transportation system to expedite the use of traffic control systems around the world. ITS is a useful tool to control the traffic by efficiently communicating, sensing, controlling, and analyzing the vehicles to enhance mobility and safety. With increasing sales of vehicles globally, congestion on the roads is often a regular sight. Various governments are taking initiatives to reduce the congestion and regulate traffic. This is expected to drive the growth of the Movers market in the forthcoming years.

What does the Report Include?

The intelligent transportation system market report includes detailed information on the growth parameters such as the drivers, challenges, opportunities, and restraints that the market will go through during the forecast period. Furthermore, it provides qualitative and quantitative details about the regional demographics present in the market. Moreover, the competitive landscape includes in-depth information of the companies proliferating in the market and the strategies such as mergers and acquisitions, product launches, and collaborations adopted by them to gain market presence. The information is obtained by trusted sources using various research methodologies by our lead analyst that will contribute to the growth of the market between 2019 and 2026.

Request For Sample PDF Brochure https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/intelligent-transportation-system-market-102065

Drivers and Restraints:

Technological Advancement to Boost Growth Prospects

In March 2020, Roads and Transport Authority (RTA) of Dubai announced its completion of a project that predicts seasonal traffic of its transportation services in marine using big data. The projects involves every information for the maritime transportation services such as total number of passengers, total revenue and occupancy rates reached, which is anticipated to help studies on development scope for services and in addition to this improving network efficiency. According to the Director Mohamed Abu Bakr Al Hashemi, Maritime Transport Department, “Using big data to automate the maritime transport tickets has enabled us to be flexible in our preparation of implementing the seasonal network initiative to regulate our marine transport system.” Increasing adoption of technology, to regulate traffic will strengthen the growth of the market during the forecast period.

On the contrary, high cost of the deployment of services may hinder the growth of the market to some extent during the projected horizon.

Regional Analysis:

Increasing Need for Traffic Management Will Favor Growth in Asia-Pacific

Among the regions, the market in Asia-Pacific is expected to remain at the forefront during the forecast period. This is attributable to factors such as increasing need for efficient management of the growing traffic in the region. On the other hand, Europe will witness substantial growth and is expected to be the second-most leading region in the forthcoming years. Increasing demand for efficient emergency services will bode well for the growth of the market between 2019 and 2026.

Competitive Landscape:

Modernization of Transport Services by Mauritius to Surge Demand

Companies operating in the Packers and Movers are striving hard to gain maximum intelligent transportation system market revenue. They are achieving this by deploying strategies such as product innovation and launch, mergers and acquisitions, and others. For instance, in March 2020, the government of Mauritius announced its launch of new Passenger Information Service (PIS). This is a part of its initiative under National Land Transport Authority (NLTA), which is poised to modernize the transportation services across the nation. The service will offer efficient integration of passenger information and transit management, to enable the passenger to have access to information about their travel journey, when and where the transport will arrive, and further it provides quick link to public transport transfers.

List of Companies Proliferating in the Market:

  • Advantech Co., Ltd.

  • Bestmile SA

  • Clever Devices Ltd.

  • Denso Corporation


  • ETA Transit Systems

  • GMV Group

  • Hitachi Ltd.

  • Kapsch Trafficcom

  • Lanner Electronics

  • Moxa Inc.

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