Overview of the global intelligent transport systems market
Global intelligent transport systems market is developing rapidly with a healthy CAGR during the assessed period. North America is expected to be the dominant market in 2017 in terms of revenue for intelligent transport systems. In the coming years, APEJ is expected to be a key market for sustainable revenue generation. Developing countries such as China are expected to account for high market shares in the APEJ region for the ITS market. Establishing strong supply chains and distribution channels are major practices followed by ITS vendors in China to expand their business opportunities. Smart technology such as smart parking and collision avoidance systems are the two applications which are showcasing high CAGRs.
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