This section entails the current and upcoming opportunities in this report on the basis of applications and geographic regions, which are expected to retain a high growth rate for this particular market during the forecast period. An increasing demand for intelligent transportation system is expected in APAC, during the forecast period.

North America leads in terms of the number of players involved in the assembling and manufacturing of intelligent transportation systems. North America led the overall global intelligent transportation system market, 2014. The market in APAC is estimated to grow rapidly during the forecast period. The increasing growth of commercial vehicle operation systems is observed to be a driver for this market. North America accounted for a share of 36.82% of the overall global intelligent transportation system market, in 2014.

The report covers all aspects of the intelligent transportation system market in terms of components, systems, applications, and geographic analysis. This report covers the application areas of ITS, which include fleet management and asset monitoring, traffic monitoring systems, traffic signal control systems, collision avoidance systems, variable traffic message signs, parking availability systems, traffic enforcement cameras, and automotive telematics. The ITS market, by system is segmented into advanced traffic management system (ATMS), advanced traveler information system (ATIS), ITS-enabled transportation pricing system, advanced public transportation system (APTS) and commercial vehicle operation (CVO).

The key revenue pockets for this market are traffic monitoring system, traffic signal control system, and fleet management and asset monitoring applications. Major players in this segment are Thales Group (France), Garmin International Inc. (U.S.), Kapsch TrafficCom AG (Austria), TomTom International BV (Netherlands), Nuance Communications Inc. (U.S.), and Q-Free ASA (Norway).

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The global intelligent transportation system market is estimated to reach $33.89 billion by 2020, at a CAGR of 11.57% between 2015 and 2020. The application in parking availability systems is expected to grow at a CAGR of 13.84% during the forecast period. The market in APAC is expected to grow rapidly followed by Europe, and North America. It includes China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific (RoAPAC).