- The key vendors in the ITS market in North America 2015-2019 are Denso Corp., KAPSCH-Group, Q-Free, Thales Group, and TransCore Inc.
London, 20 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the ITS market in North America 2015-2019. The increasing sophistication and accuracy of intelligent transport systems (ITS) is a major trend observed in this market. These systems are cost effective and involve the use of satellite technology for monitoring the status of vehicles. The ITS involves the use of video analysis, which is useful for detecting vehicles and reading number plates in cases of traffic rule avoidance. The ITS market in North America is expected to grow at a CAGR of 6.49% during the forecast period of 2014-2019.
Source: Technavio Research
The need to reduce traffic congestion in metropolitan areas is a major factor that drives growth in this market. Vehicle congestion leads to slower vehicle speed, longer trip time, and increased vehicle queuing. ITS involves the implementation of electronic road pricing, which can be carried out without stopping the vehicle and without any manual interference. This is accomplished by fitting the vehicle with a sensor that automatically collects and records the road usage charge electronically.
“Logistics infrastructure in North America is highly developed with modern technology-enabled transportation carriers and road infrastructure. Road and highway infrastructure in the region is characterized by wide ETC lanes that connect directly to different states,” says Faisal Ghaus, Vice President of Technavio Research.
“This reduces travel time for vehicles and improves the efficiency of traffic management. In addition, freight service providers are equipped with a fleet of vehicles that provide technology-enabled services such as GPS tracking.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
