Intelligent Transportation System (ITS) Market To Worth USD 38.68 Billion by 2020

Global Intelligent Transportation System (ITS) Market is estimated to attain USD 38.68 billion by 2020, as per a new research report by HexaResearch. Cost effectiveness along with escalating need for road safety is likely to boost global demand.

Browse Details of Report @
https://www.hexaresearch.com/research-report/intelligent-transportation-system-its-industry

ATMS was the leading product segment and was valued USD 7,366.5 million in 2014. It is expected to witness significant gains, with estimate of USD 15,050.8 million by 2020 at a CAGR of 12.6% during the forecast period. It is used to minimize congestion and ensure proficient use of road space. ATPS was valued at USD 5,031 million in 2014, and is projected to attain USD 10,748.6 million by 2020, at an estimated CAGR of 13.5% over the next six years.

The system improves the supply chain course and yield high cost ratio. Increasing adoption of intelligent transportation system in emerging countries such as Russia, India, Brazil, South Africa and China has offered several economic advantages. It helps the consumers in reducing the overall fuel utilization and travel time by avoiding overcrowded routes or traffics. Need for interoperability is likely to create challenge to industry participants. However, transportation authorities, governments and ITS services providers have been actively working together to improve overall interoperability.