Intelligent transportation systems are the advanced applications to provide innovative services to road transport. It is a system wherein information and communication technologies are applied. The major reason behind deployment of Intelligent Transportation Systems is to reduce the traffic congestion, provide real time control, and improve the communication networks. With the increasing number of vehicles and increasing population, traffic congestion has become one of the major problems in urban areas. The governments of many countries like the U.S., Germany, Japan, U.K., etc. are keenly interested in deploying ITS solutions. A massive research is being carried out to improve the road transport, such as the U.S. Department of Transportation is conducting research activities on ITS through its RITA (Research and Innovative Technology Administration) wing.

Intelligent transportation systems has been categorized by different systems such as advanced traffic management system, advanced traveler information system, ITS enabled pricing system, advanced public transportation system, and commercial vehicle operation. Advanced traffic management system and transportation pricing system will remain at the top by 2017. There are numerous deployments of the ITS systems happening all over the world. This will boost the market for the different systems in ITS. The demand for transportation pricing system is increasing due to the increasing development of the electronic toll booths on the expressways and highways in the developed countries like the U.S., Germany, etc. as well as in the developing countries like India, China, and South Korea.

Global intelligent transport systems market is expected to reach $24.75 billion by 2017, at an estimated CAGR of 12%. Solutions to traffic congestion, government funding, better supply chain management, etc. are the major drivers of this market. Intelligent transportation system offers features like traffic prediction, analytics and decision support, advisory services, traveler information, ticketing and fare collection. Modern tools like roadside sensors, radio frequency tags, and global positioning systems also assist in monitoring and managing transport more effectively.

The agenda for the briefing includes discussion on key high growth markets, thereby marking the growth trend in the global intelligent transport systems market. Furthermore, a briefing will be conducted on the competitive scenario and geographic trends and opportunities in the macro- and micro-markets with respect to North America, Europe, Asia-Pacific, and ROW.

About MarketsandMarkets

MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services.

MarketsandMarkets covers thirteen industry verticals, including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository. To know more about us and our reports, please visit our website www.marketsandmarkets.com

Note: An email containing the Login Details and Time of the Analyst Briefing will be sent to you soon after your registration.