TechNavio recognizes the following companies as the key players in the Global Intelligent Transportation Systems market: Denso Corp., Efkon AG, Kapsch TrafficCom AG, and TransCore Inc.
Commenting on the report, an analyst from TechNavio’s team said: “One of the main trends witnessed in the Global Intelligent Transportation Systems market is the increasing Government initiatives. For instance, the US Department of Transportation is planning to conduct a real-world test of smart vehicles. This test will include vehicle-to-vehicle and vehicle-to-infrastructure communication. In addition, under the Pennsylvania Community Transportation Initiative, US$24.7 million was given to 41 communities for intelligent transportation systems projects in 2012. Other countries are also taking initiatives and are increasing their investment in implementing the intelligent transportation systems, which are leading to the growth of the Global Intelligent Transportation Systems market.”
According to the report, one of the main factors driving the market is the rapid growth of Global Smart Cities. Intelligent transportation systems are an integral part of a smart city, and hence, it directly influences the adoption of intelligent transportation systems. Thus, the rapid growth of the Global Smart Cities market is contributing to the growth of the Global Intelligent Transportation Systems market.
Further, the report states that one of the main challenges is the high maintenance cost. The high cost of maintaining transportation systems is a matter of concern especially for the Public Transportation sector. The expense involved in implementing these systems for public transportation is very high, and it can be achieved only by large amounts of government funding and incentives.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Addco LLC, Agero Inc., Garmin International Inc., Innovation In Traffic Transportation Systems AG, Lanner Electronics Inc., Ricardo plc, Savari Inc., Sensys Networks Inc., Sigtec Pty Ltd., Swarco AG, Telenav Inc., Thales Group, TomTom NV, Traffic Tech Middle East, and Traficon N V.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-intelligent-transportation-system…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/automotive-and-aerospace
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TechNavio Announces the Publication of its Research Report – Global Intelligent Transportation Systems Market 2012-2016
