Global Intelligent Transportation System Market: Key Highlights
Global Intelligent Transportation System Market: Key Market Dynamics
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Global Intelligent Transportation System Market: Regional Overview
The North America is witness to be one of the major player for the adoption of advance technologies. Whereas, United States Department of Transportation (DOT) has making an investing majorly on the field of research and development, deployment, as well as in the adoption of intelligent transportation systems across the country. Also, the US has the largest number of on-road vehicles in the region. Moreover, usage of various technology is projected to rise with the growing number of vehicles across the region.
Hence, the government initiatives as well as the expenditure on infrastructure development have provide to the major share to the region growth.
The region is anticipated to play a major role for the growth and developments of the market in the forecast period. Whereas, the major growth in the technological development and expansion of transportation network play as a key factor for the market growth. Moreover, the major benefits by the adoption of this market in the countries such as China, India and Japan.
Hence, the vehicle manufacturers in both rising as well as established markets are incorporate these systems in their coming car models to differentiate their products from competitors. These may lead to increase the market demand in the forecast period.
Global Intelligent Transportation System Market: Key Players Overview
Cubic Corporation is an American public corporation, which helps to provide diversified systems and services to the transportation and defense markets globally. Whereas, the company is the major integrator of payment and information solutions and related services for intelligent travel applications in the transportation industry. Moreover, the company offers an integrated system for transportation and traffic management as well as helps to provider tools to travelers to get easy and smart way to travel. In 2019, Cubic Transportation Systems (CTS) signed an agreement with Google to integrate contactless transit cards with Google Pay, to making it fast and easy for travelers to use their mobile phones to pay for their journeys.
Kapsch TrafficCom is a provider of intelligent transportation systems in the areas such as tolling, traffic management, smart urban mobility, traffic safety & security, and connected vehicles. Whereas, in 2019 the company has implemented an intelligent mobility management solution in Valladolid, Spain, which is the new system allows citizens to plan their journeys efficiently. Moreover, the company provides mobility solution to help to make road traffic safer and more reliable in urban areas.
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