Global Forecasts for the Intelligent Transportation System Market to 2025 with COVID-19 Impact Analysis by Offering, System, Application, and…

DUBLIN--(BUSINESS WIRE)--The "Intelligent Transportation System Market with COVID-19 Impact Analysis by Offering, System (Advanced Traffic Management System, ITS-Enabled Transportation Pricing System, and Others), Application, and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

Market growth can be attributed to several factors such as increasing concerns toward public safety, growing traffic congestion problems, rising favorable government initiatives for effective traffic management, increasing adoption of eco-friendly automobile technologies, and the development of smart cities across the world. However, issues related to high installation costs and the slow-growing infrastructure sector are expected to hamper the growth of the market.

The recent COVID-19 pandemic is expected to impact the global ITS market. The manufacturing units are highly hampered due to worldwide lockdown and limited availability of labor and raw material. This has resulted in a delay in ongoing transport projects to a greater extent. Some experts argue that the governments may rethink on their recently announced transport project plans to curb traffic congestion.

Based on the offering, the ITS market for roadways has been divided into hardware, software, and services. The high growth rate of the software segment is attributed to the deployment of various advanced software solutions and complex algorithms to strengthen the overall information and communication systems.

The largest market size of the advanced traffic management system is due to the increasing traffic congestion on roads across the world. Moreover, the rising number of vehicles, due to the availability of favorable deals offered by the automobile manufacturers and changing lifestyles of people, are also leading to the rising traffic congestion. So, it is expected that the advanced traffic management system will be deployed significantly across the globe to address the growing traffic congestion.

The market in North America is expected to hold the largest share during the forecast period. The deployment of ITS to reduce traffic congestion and boost safety on roads is propelling the growth of the ITS market in North America. In addition, the development related to ITS deployment in North American countries - including the US and Canada - is also empowering the market in the region.

In this report, the ITS market for roadways has been segmented on the basis of offering, system, application, and geography. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions - North America, Europe, APAC, and RoW. Value chain analysis has been included in the report, along with the key players and their competitive analysis in the ITS ecosystem.

Key Report Benefits:

Key Topics Covered:

1 Introduction

2 Research Design

3 Executive Summary

4 Premium Insights

5 Market Overview

6 ITS Market, by Protocol

7 ITS Market for Roadways, by Offering

8 ITS Market in Roadways, by System

9 ITS Market for Roadways, by Application

10 ITS Market for Railways, by Application

11 ITS Market for Aviation, by Application

12 ITS Market in Maritime, by Application

13 Geographic Analysis

14 Competitive Landscape

15 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/qjkgve

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Global Forecasts for the Intelligent Transportation System Market to 2025 with COVID-19 Impact Analysis by Offering, System, Application, and...

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