BURNABY, Canada, April 4, 2016 /PRNewswire/ --
Based on the recent analysis of intelligent transportation systems market TechSci Research applauds Thales Group for its revolutionary products which helps create next generation transportation systems.
According to TechSci Research report titled "Global Intelligent Transportation Systems Market Forecast & Opportunities, 2021" Thales Group was the market leader in global ITS market. The company accounted for the largest share in the global ITS market on account of large and innovative product portfolio for various modes of transportation. The global market for ITS is highly fragmented with presence of many small regional players. On account of high innovation in product engineering and increasing collaborative efforts by the company in developing world class products, the company is expected to lead rather then follow competition.
Thales, Xerox, Cubic, Kapsch are top 4 players operating in the global intelligent transportation systems market and accounted for share of 5%, 3%, 3% and 2% in 2014, respectively. The global market for intelligent transportation systems is highly fragmented and consist of many small scale companies operating in the market.
Thales being the market leader acquired a share of around 5% in 2014 in the global intelligent transportation systems market. The company offers advanced ITS solutions for railways and public transport, train control systems, route control & interlocking, passenger services, operation control fare collection management, etc. for railways and solutions such as car parking management, road traffic management, electronic toll collection, etc. for improving road transportation. The company has its presence in almost all major markets across the globe and is planning to invest heavily in ITS solution for aviation and other transportation modes also, which is expected to drive the share of the company during forecast period, which is expected to fuel growth in the market share held by the company, making it increase to around 7% by 2020.
The second leading player in ITS market is Xerox with a share of around 3% in 2014. The company offers a wide range of IT solutions including toll collection, parking management, fleet management, traffic management, commercial vehicle operations, motor vehicle solutions and revenue services, photo enforcements and others. On account of increasing focus of the company towards advanced ITS solution such as, telematics, advanced analytics for transportation insights, connected vehicles - short range and long range communication, the market share accounted for by the company is forecast to increase to 5% by 2020.
According to TechSci report the third spot was captured by Cubic Corporation which accounted for a share of 3% in the global intelligent transportation systems market. The company offers ITS solutions such as revenue management solutions, real-time passenger information, traffic management, predictive analysis, tolling solutions and parking solutions. On account of active efforts and increasing investments by the company in opening an innovation center in London to drive mobility advancements in urban transportation, the market share held by the company is expected to increase to 4.9% by 2020.
Kapsch TrafficCom has been recognized as the 4th largest player in global ITS market with a share of around 2.5% in 2014. The company offers a wide range of ITS solutions including tolling solutions, traffic management solutions, safety and security solutions, parking solutions, urban access management, congestion management, etc. on the back of which the company's market share is forecast to increase to around 4% by 2020. The increasing share of the company is attributed to mainly the wide product portfolio which allows the company to look for larger segments of the market reveals TechSci analysis.
Intelligent transportation systems market grew at a steady pace over the past few years on account of rapidly increasing traffic congestion in cities causing slower mobility of traffic, which ultimately affects trade in countries. Government in such countries are taking initiatives to develop infrastructure, as well as to improve the ways of transportation. Additionally, growing environmental concerns and increasing focus on traffic safety, are also driving significant investments in transportation in various countries.
"Global Intelligent Transportation Systems Market By System, By Application & Competition Forecast and Opportunities, 2010 - 2020" has evaluated the future growth potential of ITS deployments globally and provides statistics and information on market structure, market size and trends. The report includes ITS market projections and demand forecasting for the period 2015 - 2020. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging market trends along with prominent drivers, challenges and opportunities prevailing in the global ITS market.
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