ITS Market in North America to grow at a CAGR of 6.49% during 2014-2019; Finds New Report

Report forecast the ITS Market in North America to grow at a CAGR of 6.49%, in terms of revenue, during 2014-2019.

An ITS is a sophisticated application, which provides solutions related to various modes of transport and traffic management. It allows commuters to be informed about the traffic situation, and enhances road safety. The traffic management process is also streamlined with the optimization of quality, and the reduction in time required for implementation of decisions as well as in costs incurred.

The various types of ITS include ATMS, road user charging, ETC, public transport ITS, freight and commercial ITS, security and crime reduction ITS, road safety systems, ITS communications, and automotive and infotainment telematics. These solutions are mostly used by governments, municipal authorities, and the construction sector, to handle congestion, prevent accidents, detect the location of vehicles, and also to check vehicle emission levels.

The report covers the present scenario and the growth prospects of the ITS Market in North America for the period 2015-2019. The market covered in the report includes roadway transportation only. To calculate the market size, we consider revenue generated from the sales of ITS products. We also present the vendor landscape and a corresponding detailed analysis of the top five vendors in the ITS Market in North America.

According to the report, the increasing need to reduce traffic congestion in metropolitan areas has led to the need to implement ITS solutions in North America. Congestion leads to slower vehicle speed, longer trip time, and increased vehicle queuing. Congestion charging through electronic road pricing can be done without stopping the vehicle and without any manual interference. The vehicle is fitted with a sensor that automatically collects and records the road use charge electronically. This helps in streamlining the flow of traffic. ALPR coupled with DSRC technologies are widely used for this.

Further, the report states that the ITS market in North America is capital-intensive in nature, which acts as a challenge to market growth.

ITS Market in North America 2015-2019, is based on an in-depth market analysis, with inputs from industry experts. We discuss the major drivers influencing market growth and also the challenges facing the vendors and the market as a whole. We evaluate the key trends emerging in the market as well.

key players in the Intelligent Transport Systems Market in North America: Denso, KAPSCH, Q-Free, Thales and TransCore

Other Prominent Vendors in the market are: 3M, Addco, Agero, Grenobloise d'Electronique et d'Automatismes, Hitachi, International Road Dynamics, Lanner, Metro Infrasys , Mitsubishi Heavy Industries, Omron, Perceptics, SAIC, Savari, Sensys, TRMI Systems Integration, Watchdata and Xerox

The ITS Market in North America is segmented on the basis of its product type:

• Automotive and Infotainment Telematics
• Freight and Commercial ITS
• ITS Communications
• Network Management
• Public Transport ITS
• Road Safety
• Security and Crime Reduction ITS

Market Driver

• Need to Reduce Traffic Congestion
• For a full and detailed list, view our report

Market Challenge

• High Cost of Operation and Maintenance
• For a full and detailed list, view our report

Market Trend

• Increase in Sophistication and Accuracy of ITS
• For a full and detailed list, view our report

Key Questions Answered in this Report

• What will the market size be in 2019 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Spanning over 78 pages and 36 Exhibits “Intelligent Transport Systems (ITS) Market in North America 2015-2019” report covers Executive Summary, List of Abbreviations, Scope of the Report, Market Research Methodology, Introduction, Market Landscape, Market Segmentation by Product, Buying Criteria, Market Growth Drivers, Drivers and their Impact, Market Challenges, Impact of Drivers and Challenges, Market Trends, Trends and their Impact, Vendor Landscape, Key Vendor Analysis.

For further information on this report, please visit- http://mrr.cm/4V6

Find all Transport Reports at: http://www.marketresearchreports.com/transport