Intelligent RFID Platform Market Size, Share and Forecast Intelligent RFID Platform Market
Intelligent Transportation System ( ITS ) Products & Applications Market Size , Share , Trends , Analysis and Forecasts To 2022
the Intelligent Transportation System ( ITS ) market is expected to reach $ 42.67 billion by 2022 growing at a CAGR of 12.21 %. Growing population and increasing vehicles have led to increased traffic congestion and need for effective traffic management . The factors favoring the market include , increasing government funding , reducing pollution , rising need for road safety improvements , and increasing traffic congestion . However , high installation costs , sluggish infrastructure growth and need of interoperability between ITS and existing infrastructure are restraining the market growth .
Advanced Traffic Management System ( ATMS ) is leading the ITS market and is expected to dominate the market during forecast period due to its special functions such as real time monitoring , traffic camera monitoring , road weather information monitoring and incident monitoring , traffic signal controlling , and automatic warning . Advanced Public Transportation Systems ( APTS ) is also expected to witness rapid growth during the forecast period . Traffic management applications dominate the ITS market and expected to continue its growth during the forecast period . Environment protection and road user charging are expected to be the fastest growing segments .
North America has the leading market for ITS and is expected to dominate the market over forecast period due to rising driver safety , reducing congestion and regulatory initiatives . Asia Pacific is expected to grow at the highest CAGR over the forecast period . Some of the major players in the market include , Transcore Inc ., Hitachi Ltd , Siemens AG , Thales Group , Xerox Corporation , Kapsch Trafficcom , Q-Free , EFKON AG , Lanner Electronics Inc , Denso Corporation , Garmin Ltd ., EFKON AG , TOMtom International BV , Savari Inc . and Nuance Communications .
Products Covered : Advanced Transportation Management Systems ( ATMS ) Advanced Public Transportation Systems ( APTS ) Advanced Transportation Pricing Systems ( ATPS ) Advanced Traveler Information Systems ( ATIS ) Cooperative Vehicle Systems
Applications Covered : Automotive Telematics Traffic Management Collision Avoidance system Road User Charging Road Safety and Security Traffic Signal Control Freight Management ( Commercial )