Global Roadways & Railways Intelligent Transport Systems Market (2016 - 2022)
Intelligent transportation system is an integration of communication system and information technologies, designed primarily for improving safety, security and efficiency in transportation network. It is an advanced system form of system that would eventually gain over traditional form of transportation systems.
The market size of global Roadways & Railways Intelligent Transport Systems market is estimated to be USD 21,313.8 Million in 2015 and is expected to attain a market size of USD 22,179.4 Million in 2016. The market is expected to grow at a CAGR of 6.0% during the forecast period (2016 – 2022). In 2015, North America dominated the global ITS market. The region generated revenue of USD 10,550.3 Million in 2015. LAMEA on the other hand is expected to register a highest CAGR of 9.9% during the forecast period (2016-2022). The Europe region is expected to grow at a CAGR of 5.3% during the forecast period. The Asia Pacific region would witness a growth of 9.0% CAGR from time period 2016 – 2022.
The developing regions have many impediments to growth, and road traffic jams have and will be a major problem causing massive delays, increased fuel wastage and monetary losses. The fast changing regional landscape has led to poorly planned road networks. Due to unplanned road networks, small critical areas become the hot-spots for congestion and ineffective and poor traffic management around these hotspots potentially results in extended traffic jams. Privatizations of highways and road pricing have been some initiatives proposed to reduce congestion.
Roadways segment dominated the global Roadways & Railways ITS market in 2015 and is expected to generate revenue of $20,018.2 Million by 2022. Railways segment attained a market size of USD 7,646.9 Million in 2015 and is expected to grow at a CAGR of 6.2% during the forecast period.
The different types of mode of transport discussed in the report include roadways, railways, aviation and maritime. As the Roadways ITS solutions, the components and services have been focused in the report. The market have been analysed both in terms of different hardware and software as the components along with the business & cloud services and Support and Maintenance services. The Roadways ITS market has been further probed by systems including Advanced Traveler Information Systems (ATIS), Advanced Transportation Management Systems (ATMS), Advanced Transportation Management Systems (ATMS), Advanced Public Transportation Systems (APTS) and Cooperative Vehicle Systems. The major applications including Fleet Management and Asset Monitoring, Automotive Telematics, Traffic Management, Collision Avoidance, Passenger Information among others have been discussed in the report.
The application market of Global Railways Intelligent Transport Systems (ITS) market including Cost Management, Carbon Emission Control, Capacity Management, Customer Management have been focused to provide the in-depth understanding of the market.
Based on region, Global Intelligent Transport Systems market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. North America remained the dominant region in 2015. LAMEA would witness highest CAGR during the forecast period (2016-2022).
Key companies profiled in the report include Siemens AG, Cisco Systems, Inc., ZTE Corporation, IBM Corporation, Microsoft Corporation, Intel Corporation, Oracle Corporation and Computer Science Corporation.