The Intelligent Transportation System Market aim to provide innovative services relating to different modes of transport and traffic management and enable various users to be better informed and make safer, more coordinated, and 'smarter' use of transport networks.
Portland, OR -- (SBWIRE) -- 07/13/2017 -- The increasing number of mega cities and the population growth in developed and developing countries has increased the importance of deploying the Intelligent Transport System (ITS). ITS system constitutes both, road transport and an efficient metro/underground rail system. ITS involves the revamp of overall technological aspects such as GPS, Carrier Access for Land Mobiles (CALM), Dedicated Short Range Communication (DSRC) etc. Globally, the concerned government departments understand the importance of implementing an efficient ITS system, which is an important driving factor for the market growth. Therefore, these departments are formulating specific programs and taking initiatives to implement the system. For example, the U.S. Department of Transport (DOT) is focusing on intelligent infrastructure, intelligent vehicles, and integration of these two factors. The DOT has started a Federal ITS program that would make research initiatives, investigative study and support the deployment of the system through systematic investment. Additionally, an efficient transport system would assist in controlling traffic congestions and increase environmental benefits by reducing pollution, and these factors act as other major drivers for the market.
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However, the major restraint for the market growth is the slow growth of infrastructure, especially in the developing regions of the world due to the high cost of installation. Another key restraint for the growth of the market is the lack of standards and negligible interoperability between the various modes of transport and technologies. To address these challenges, various government sectors and key players in the market are forming strategic private-public partnerships. Furthermore, the major opportunity for the market lies in the development of smart vehicles that would operate on intelligently controlled roads by deploying state of art infrastructure and latest technologies.
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Some of the key players profiled in this report are Affiliated Computer Services, Inc., Denso Corporation, Agero, Inc., Addco Llc, Lanner Electronics, Inc., Nuance Communications, Inc., Ricardo Plc, Sensys Networks, Inc., Telenav, Inc., Efkon AG and Thales Group.