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

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.<br>Intelligent transportation system (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.<br>Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/178<br>

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

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  1. 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

  2. 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

  3. 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 country’s gross domestic product (GDP).

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

  5. Browse Full Market Research Report On Intelligent Transportation System (ITS) Market @ https://www.gminsights.com/industry-analysis/intelligent-transportation-system-ITS-market Request for a Sample of this Research Report @ https://www.gminsights.com/request-sample/detail/178

  6. 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 KapschTrafficCom, Siemens AG, Hitachi Ltd., Q-Free ASA, SWARCO AG, TomTom NV, Garmin International, Denso, IBM Corp, and Xerox Corp.

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