Global Intelligence Transportation System Market to See 12.21% CAGR through 2022, Says MRFR in Its In-demand Report Available at MarketPublishers.com
22 Mar 2017 • by Natalie Aster
LONDON – Today, Intelligent Transport System (ITS) are gaining popularity worldwide; these systems are used to improve effectiveness, efficiency and safety in road transportation systems. ITSs are already successfully deployed in a range of developed countries, including Singapore, Japan, the US and the UK with an aim to improve the performance of transportation system by ensuring safety, controlling conjunction and providing convenience for travelers.
The world’s market for intelligent transport systems is gaining traction propelled by a number of favourable factors comprising rising need for road safety improvements, enhancing concern for traffic congestion along with a shift of freight industry from unorganized to organized sector. However, the market growth could be inhibited by lack of proper infrastructure for implementation of intelligent transport systems in developing and under-developed economies. The global intelligent transport systems market is expected to register a CAGR of nearly 12.21% to reach the value of USD 42.67 billion by the year 2022.
New research study “Global Intelligent Transportation System Market - Trends Forecast 2016-2022” prepared by Market Research Future (MRFR) gives reliable updated info on the market performance at the global level. It provides a detailed market analysis, scrutinizes the market dynamics, covers the major growth influencing factors, discusses the key aspects and prevailing trends. The report highlights the emerging threats and opportunities, reviews the competitive landscape and also offers an all-round future outlook through 2022.
For many other insightful research reports by this publisher follow to the Market Research Future page at MarketPublishers.com.