Intelligent Transportation System Market: An Array of Graphics and Analysis of Major Industry Segments
Global intelligent transportation systems (ITS) comprise a large number of domestic and foreign manufacturers. The industry looks fragmented and there is no clear leader dominating the overall ITS market. Siemens, Hitachi, TomTom N.V., and Garmin International are some of the renowned international players in the global intelligent transportation systems market. Major investments in R&D as well as innovation is one of the most successful strategies adopted by leading players in this market. A case in point would be Siemens. The company, in collaboration with the government of Germany, is working on the Digital Autobahn Test Field project, the key feature of which will be the country’s first intelligent bridge. The bridge is scheduled to open in Nuremberg in October 2016. The revenue of the global intelligent transportation systems market stood at US$20.22 bn in 2015 and the market is expected to reach USD 57.44 billion by the end of the forecast period, developing at a CAGR...