Intelligent Transportation System Market size forecast to grow with 13% CAGR to surpass 13% USD 47.6 billion by 2022

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Intelligent transportation system (ITS) Market
Size forecast to grow with 13 CAGR Global
Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Intelligent Transportation
System (ITS) Market

• Intelligent Transportation System (ITS) Market
  size is estimated to attain USD 47.6 billion by
  2022, as per a new research report by Global
  Market Insights, Inc. Escalating need for road
  safety along with cost effectiveness is likely to
  boost global demand.
•  
• ITS improves supply chain course and yield high
  cost ratio. Increasing acceptance in emerging
  markets such as Russia, India, Brazil, South
  Africa and China has offered several economic
  advantages. 
• Rising needs for interoperability is projected to
  drive the intelligent transportation system
  market growth over the forecast period. It is a
  major issue for electronic toll collection
  systems (ETC), owing to difference in toll
  collection technologies implementations by
  operators across the globe
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Continued...

• For instance, in Europe, dedicated short range
  communications (DSRC) and GPS/GSM technology is
  employed for ETC systems for toll collection on
  highways. Conversely, this restraint is likely to
  be diminished by increasing standardization in
  services as well as the ITS market. 
• intelligent transportation system market growth
  over the several upcoming years. Increasing death
  rate due to rising road traffic has incurred high
  cost and is likely to account for around 2 of
  the countrys gross domestic product (GDP).

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U.S. ITS market size by application, 2012-2022
(USD Million)

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360 Analysis

• Application Analysis
• Attributes such as performance enhancement of
  transportation system along with the need for
  road safety is expected to drive the industry
  demand. Numerous initiatives are being undertaken
  in order to set up advanced traffic management
  systems and increase awareness regarding the
  importance of road safety measures.
• Regional Analysis
• Asia Pacific intelligent transportation system
  market size is predicted to experience
  significant growth owing to rising advancements
  in sensor technologies.
• North America ITS market share was valued over
  USD 7 billion in 2014. Favorable regulatory
  initiatives paired with promotional activities
  are likely to spur the demand growth in the
  region.
• Competitive Market Share
• The industry is fairly competitive, with the top
  ten industry participants accounting for major
  intelligent transportation system market share in
  2014. Notable participants include Kapsch
  TrafficCom, Siemens AG, Hitachi Ltd., Q-Free ASA,
  SWARCO AG, TomTom NV, Garmin International,
  Denso, IBM Corp, and Xerox Corp.

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