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Budding Hybrid Technologies Will Intensify the Global Intelligent Transport Systems Market
The Global ITS market is expected to experience noteworthy growth during the period 2013-2018 recording a CAGR of 7.43 percent.
An ITS can be defined as a refined application which offers resolutions associated with numerous modes of transport and traffic supervision. It permits travelers to be up-to-date about the traffic conditions thus, increasing road safety.
“The major customers of ITS are government organizations, public departments, and municipal corporations and to some extent construction firms and car and truck leasing companies. The vertical overall is perfectly competitive with the use of high-end specialized technology solutions. Therefore, it is imperative that vendors' differentiate their products by adopting superior quality measures and trying to capture the new requirements of customers and addressing them with solutions,” says Faisal Ghaus, Vice President of TechNavio Research.
One of the key trends emerging in this market is the adoption of hybrid technology systems, which involve the combination of advanced technologies to produce an improved state-of-the-
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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