Intelligent Transport System market worth $33.75 Billion by 2020, According to a New Study on ASDReports

Tuesday 10 June 2014, Amsterdam

According to a new market research report, now available on ASDReports, “Intelligent Transport Systems Market by Component, Application, System (ATMS, ATIS, ITS- Enabled Transportation, Pricing System, APTS and CVO)and Geography (Americas, Europe, APAC, ROW) Analysis and Forecast to 2014 - 2020”, is expected to grow at a CAGR of 11.30% from 2014 to 2020 and reach $33.75 Billion in 2020.

The America holds the major market share, followed by the Europe owing to the rapid development in their infrastructure. APAC market also constitutes a substantial market share in ITS. From these factors, it is believed that these markets will grow at a significant growth rate for the forecast period of 2014 to 2020.

The overall Global Intelligent Transport System is segmented into four major segments; namelycomponents, system, application and geography. All the major segments are further segmented into sub segments. All the segments and sub segments are separately classified in the report. The Global Intelligent Transport System is expected to reach up to$33.75 billion by 2020, at an estimated CAGR of 11.30% from 2014 to 2020.

Themajor driving factors for the Intelligent Transport System aresolution to traffic congestion and government support;public private partnership is the key to the success in implementing intelligent transportation system. In this report various new technologies like V2V and V2I communication system are discussed and it also include the prominent Architecture of ITS and insights of Standards used in Intelligent Transport System. The report forecasts the growth from 2014 to 2020, along with market size, list of leading players, the latest technology adoption, M&A s, and JV s of key players.