Global Intelligent Transportation Systems (Its) Market Is Expected to Grow $34 Billion by 2020: Acute Market Reports

Intelligent Transportation Systems Market Overview:

The universal intelligent transportation systems market crossed 16 billion US dollar mark in year 2013 and is predicted to observe a significant growth and expansion during the estimated period. Escalating concentration on road security and growing requirement for enhancing the performance of current transportation networks is also predicted to stimulate the demand.

The global intelligent transportation systems market is predicted to accrue the total income of 34 billion dollars by end of year 2020.

High traffic congestion owing to increase in proportion of vehicles has contributed to the requirement for modernized public traffic management systems. Consequent requirements for smart vehicles with public private associations are foreseen to be a key growth avenue during the estimated period. Many initiatives taken by the government to set up modern traffic management systems like vehicle to infrastructure communications systems and vehicle to vehicle systems is predicted as the main strategies of market growth.

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Developed regions of North America and Europe have made the use of electronic stability control systems, a driver assistance system, compulsory in commercial as well as passenger vehicles. Car producers in both the evolving and established areas are setting up these systems in their new cars to distinguish their products from their business rivals. The above described aspects are projected to offer profitable growth avenues for the market growth and expansion by the end of year 2020.

These systems help in enhancing the job performance of supply chain procedure and produce high level of benefits to price ratio. Customers can also cut down on prices by utilizing the real time systems of transportation. Owing to these aspects, transportation service providers have enhanced capital...