The intelligent transport system market size has the potential to grow by USD 32.47 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
Market Competitive Analysis
The intelligent transport system market is fragmented. Market vendors are increasingly focusing on building brands and brand equity to differentiate themselves from their competitors. Q-Free ASA, Roper Technologies Inc., Siemens AG, Thales Group, and TomTom International BV are some of the major market participants. Although the increasing traffic congestion and road accidents will offer immense growth opportunities, system integration and interoperability issues will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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To help clients improve their market position, this intelligent transport system market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this intelligent transport system market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.