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Cruise Market Size to Hit USD 22.8 Billion at a CAGR of 11.5% by 2032 | Market.us

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New York, May 01, 2023 (GLOBE NEWSWIRE) — The global Cruise Market size was valued to be worth USD 7.9 billion in 2022. From 2023 to 2032, it is estimated to reach USD 22.8 billion growing at a CAGR of 11.5%. A cruise is a multi-day holiday schedule that is arranged on a cruise ship in a large inland area while visiting a lot of tourist destinations along the way. During this kind of excursion, the rooms on the ship and tourist hotspots get most of the attention. The growing hospitality and tourism sectors driving the global cruises market.

Ships are integrating advanced technology, a wide range of fun activities, and entertaining themes for passengers, including yoga themes, kid themes, mystery themes, and others. Such developments are attracting various populations and becoming extremely popular with the intended demographic, which is driving the cruise industry.

Cruise Market

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Key Takeaway:

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  • By type, in 2022, the Cruise Market was dominated by the Ocean Cruises segment due to its increased travel in large numbers.
  • In 2022, North America dominated the market with the highest revenue share of 50%.
  • APAC is anticipated to have the highest CAGR among all the regions.

Factors affecting the growth of the Cruise Market Industry

There are several factors that can have an impact on the growth of the Cruise Market industry. Some of these factors include:

  • Economic conditions: Strong economic growth frequently leads to more disposable income, which can increase spending on leisure activities including cruising.
  • Demographic Trends: As the population ages, demand for cruises tends to increase as older adults have more leisure time and funds to spend on travel.
  • Technological Advancements: New technology has made cruising more appealing to consumers, such as faster Wi-Fi and improved entertainment options on board.
  • Health Concerns: The COVID-19 pandemic has had a significant effect on the cruise industry, leading to reduced demand and enhanced safety measures. As the crisis ends, the industry should recover, but consumers may continue prioritizing health and safety when making travel decisions.
  • Competition: The cruise industry is highly competitive, necessitating companies to innovate and stand out to attract customers. New players in the market may disrupt existing players and cause changes in pricing and offerings.

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Top Trends in Cruise Market

The global cruise market is expanding to meet the increasing demand for luxurious experiences, multigenerational travel, wellness and health, sustainability initiatives, and digital disruption. Cruise lines that can predict these trends and respond appropriately are likely to achieve success in an increasingly competitive cruise market. River cruising has become increasingly popular across Europe and Asia in recent years. River cruises provide an intimate setting, featuring smaller ships and offering access to remote destinations. Sustainability has become a top priority within the cruise industry, with many lines adopting eco-friendly practices such as using renewable energy sources, decreasing single-use plastics usage, and encouraging responsible tourism practices.

Cruise lines are increasingly investing in technology to enhance passenger experiences, from mobile apps and wearable devices to virtual reality headsets and AI-powered assistants. Wellness and health have become major priorities within the cruise industry, with many lines offering onboard fitness facilities, healthy dining options, and wellness-themed activities. Cruise lines are responding to this trend by offering family-oriented amenities like onboard water parks and kids clubs, luxurious and experiential cruises are seeing a revival in the cruise market, with travelers demanding amenities such as private balconies and exclusive dining venues. Many are seeking authentic cultural encounters; cruise lines have responded by providing shore excursions that showcase local customs, traditions, and cuisine.

Market Growth

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The cruise industry has seen tremendous growth due to rising disposable incomes, an increased leisure travel preference, and an expansion in cruise destinations. They have also invested heavily in advanced technology, creative experiences, and sustainable business methods which have attracted new consumers. Cruise lines have implemented various initiatives to reduce their environmental impact, such as investing in clean technologies and reducing waste generation. This has resonated well with environmentally conscious consumers, who are increasingly looking for eco-friendly travel options.

Regional Analysis

With a 50.0% revenue share, North America dominated most of the cruise market. mainly because of the broad presence of important global firms and its advanced industry. Growing consumer spending trends, higher levels of disposable income, and expanding tourism are all contributing to a significant rise in market revenue share. With a CAGR of 12.1%, the Asia Pacific region is anticipated to grow at a rapid speed in during the projection period. Due to government efforts to encourage tourism and enhance economic productivity, the cruise industry’s activity has shifted away from North America and Europe and towards Asia-Pacific.

For instance, in an aim to boost cruise tourism, the Indian government announced on August 19th, 2020 the rates will be decreased to 70.0%. With a share of around 25.0% in worldwide sales, Europe came in second place in 2021 and therefore is projected to expand at an impressive CAGR. The expansion of the business has been linked to a growth in demand for sustainable tourism, which in turn makes local communities more accessible to small and medium-sized tour operators.

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Scope of the Report

Report Attribute Details
Market Value (2022) USD 7.9 billion
Market Size (2032) USD 22.8 billion
CAGR (from 2023 to 2032) 11.5%
North America Revenue Share 50.0%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

  • Consumer Demand: As more travelers look for unique vacation experiences, demand for cruise lines has increased significantly in recent years. Due to cruise line’s efforts to meet demand by growing their fleets and introducing additional routes, the sector has sustained growth.
  • Innovation: Cruise lines continuously innovate and add new amenities and features to attract passengers. This ranges from entertainment choices to advanced technology and innovative dining experiences.
  • Growth of Cruise Line Offerings: To appeal to a variety of travelers, cruise companies are expanding their offerings to include niche markets like adventure cruises, river cruises, and small-ship cruising.

Market Restraints

Earthquakes and hurricanes can alter cruise itineraries and influence passenger safety. The demand for cruises and the preparation of itineraries are also impacted by terrorism or political instability. Because of the high cost of construction and maintenance, there are fewer market participants, less competition, and less pricing flexibility. Also, the need for cruise lines to invest in more expensive, cleaner technology to lessen their environmental impact contributes to increasing operational costs, which in turn diminish profit margins.

Contagious disease outbreaks like COVID-19 can harm the reputation of the cruise industry and decrease customer trust in sailing. This can lead to a decline in demand and income for cruise lines. Cruising is primarily a seasonal activity, with summer vacations being the most popular time to go. Profitability for cruise businesses is impacted by off-peak revenue and reduced occupancy rates. Bad media coverage, such as stories of passenger injuries or crimes, reduces the overall number of reservations and affects customer confidence in cruising.

Market Opportunities

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The global shipping sector offers a variety of opportunities for growth and development, including emerging economies, eco-friendly travel, technical advances, specialized cruises, upselling opportunities, and partnerships. The cruise business has tremendous potential development in emerging fields like South America and Asia. These territories are contributing to a rise in travel demand, providing cruise firms with a broad customer base. New technologies like artificial intelligence, virtual reality, and the Internet of Things have the potential to improve cruise line efficiency levels even while improving passenger experiences on board.

Specialist cruises, such as wellness cruises, adventure cruises, and culinary cruises can appeal to niche markets and give cruise lines a chance to stand out from competitors. Offering onboard services and facilities like spa treatments, shore excursions, and specialty dining options may help cruise companies make more money. Cruise lines may be able to increase their market reach and provide clients with greater all-inclusive travel experiences through partnerships and collaborations with other travel businesses like airlines and hotels.

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Report Segmentation of the Cruise Market

Type Insight

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The cruise market is divided into ocean cruises and river cruises based on type. With an expected total revenue of 80%, the Oceans Cruises category is the most profitable of these in the worldwide cruise business. Strong competitors can offer services in the ocean cruises category for numerous transcontinental trips to account for the larger market revenue share. Additionally, a large number of customers prefer ocean cruises to other types of cruises because of the attractive packages, amenities, and entertainment choices. Large ocean cruise ships, which have greater space than the others, can support these activities. The CAGR for the worldwide river cruise industry is predicted to be 13.3%, making it the market with the fastest growth. The increasing size of river cruises compared to ocean cruises, which often dock along coastal regions, can be attributed to their rising popularity among tourists.

Recent Development of the Cruise Market

  • In 2021, many cruise lines began their operations again after being suspended due to the COVID-19 pandemic. Some lines, such as Royal Caribbean and Celebrity Cruises, require all passengers to be fully vaccinated before embarking on their voyages.
  • Despite the pandemic, several new ships were launched in 2021. Royal Caribbean’s Odyssey of the Seas, Carnival Cruise Line’s Mardi Gras, and MSC Cruises’ Virtuosa.

For more insights on the historical and Forecast market data from 2016 to 2032 – download a sample report at https://market.us/report/cruise-market/request-sample/

Market Segmentation

Based on Type

  • Ocean Cruises
  • River Cruises

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Competitive Landscape

The cruise market is highly competitive, with numerous players operating globally. The competitive landscape of the cruise market is constantly shifting, with players competing on factors such as itinerary offerings, pricing, onboard amenities, and sustainability practices. Furthermore, new entrants such as Virgin Voyages and Ritz-Carlton Yacht Collection are entering this space to offer unique experiences to attract a younger demographic of passengers. Some of the major players include:

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  • Carnival Corporation & Plc
  • Royal Caribbean Group
  • MSC Cruises S.A.
  • Norwegian Cruise Line Holdings Ltd.
  • Disney Cruise Line
  • Genting Hong Kong Limited
  • Fred. Olsen Cruise Lines
  • Other Market Players

Browse More Related Reports:

  • Adaptive cruise control system market was valued at USD 34.7 billion in 2022 and is expected to grow to USD 65 Billion. Between 2023 and 2032, this market is estimated to register a CAGR of 6.6%.
  • Autonomous vehicles market size is expected to be worth around USD 3,444.1 Bn by 2032 from USD 140.8 Bn billion in 2022, growing at a CAGR of 38.8% during the forecast period from 2023 to 2032.
  • Advanced Driver Assistance Systems Market size is expected to be worth around USD 118 Billion by 2032 from USD 32.9 Billion in 2023, growing at a CAGR of 14% during the forecast period from 2022 to 2032.
  • Recreational Boat Market was valued at USD 33.6 Billion in 2022 and is expected to reach USD 58.8 billion between 2023 and 2032, this market is estimated to register a CAGR of 5.9%.

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Artificial Intelligence

Fleet Management Market Advances with AI-Driven Route Optimization and Maintenance Solutions, Finds Maximize Market Research

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PUNE, India, July 19, 2024 /PRNewswire/ — Fleet Management Market size was valued at US$ 12.69 Bn. in 2023 and the total revenue is expected to grow at 20.07% through 2024 to 2030, Fleet Management Market is reaching nearly US$ 45.66 Bn. by 2030.

Reports on competitive analyses encompass company overviews, financial performances, product portfolios, and strategies of key players in the Fleet Management Market. To assess strengths and weaknesses, a comprehensive SWOT analysis was conducted, while a PESTLE analysis was carried out to understand the impact of macroeconomic factors on the market. Also, the report includes detailed analyses of investments made by market players to enhance their global presence.
The research methodology utilized in analysing the Fleet Management market encompasses a thorough approach that combines primary data which is often collected through surveys, interviews, and focus groups with industry experts and stakeholders such as fleet operators and managers, fleet management service providers, vehicle manufacturers, telematics providers and insurance companies. This allows for firsthand insights into market trends, consumer behaviour, and regulatory challenges and secondary research utilizing reports from government sources, industry publications, and financial statements. Market sizing and forecasting techniques are employed alongside competitive analysis to provide valuable insights into the market landscape. It also includes trade balance, market entry strategies, costs in different region, technology adoption, regulatory framework, compliance requirements and customer demographics which makes it an investor’s guide. The report encompasses component, deployment type, fleet type segments and their analysis, which elucidates their influence on the market. The estimation methodology often adopts a bottom-up approach to accurately determine market sizes. 
Get your Sample PDF: https://www.maximizemarketresearch.com/request-sample/29184/ 
Global Fleet Management Market 2023-2030: Key Highlights
Market Size in 2023:
USD 12.69 Bn
Market Size in 2030:
USD 45.66 Bn
CAGR:
20.07 %
Forecast Period:
2024-2030
Base Year:
2023
Number of Pages:
229
No. of Tables:
138
No. of Charts and Figures:
193
Regional Scope: 
North America, Europe, Asia Pacific, and Africa, South America
Report Coverage: 
Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
Historic Market Size 2017-2023CAGR of the market during 2024-2030Detailed information on factors that will assist Fleet Management market growth during the next seven yearsAn estimation of the Fleet Management market size and the impact of the country’s GDP on Fleet Management marketForecasts on upcoming trends and changes in consumer behaviorThe growth of the Fleet Management marketAnalysis of the competitive landscape and detailed information on companiesComprehensive details of factors that will impede the growth of Fleet Management companies.Competitive Landscape
The Fleet Management Market includes the presence of several global as well as regional key players. A few prominent players that offer Fleet Management in the market are Donlen Corporation. Geotab, Inseego Corp, Automotive Rentals Inc., Omnitracs, TeletracNavman, Trimble Verizon Connect, Wheels, Inc., Mix Telematics and others.
What’s New: Recent Additions and Updates
Expansion into Southeast Asia, South America, and Africa.Localization efforts for new markets.Technological AdvancementsNew Streaming Partnerships and PlatformsInnovative Marketing StrategiesFinancial Performance and InvestmentConsumer Behaviour and TrendsRegulatory Changes and ChallengesFor more details on the information, Request a sample reporthttps://www.maximizemarketresearch.com/request-sample/29184/ 
Market Overview
In the modern business landscape, every industry strives to maximize output while minimizing costs. For companies with large fleets, fleet management costs make up a significant portion of their operating costs. Fleet systems play a critical role in optimizing routes, ensuring vehicle safety, improving driver safety, and increasing profitability by improving vehicle performance and life. These programs will provide fleet owners with valuable insight into fleet performance, enabling them to identify areas for improvement, such as specific drivers or cost-reduction units. Effective fleet management helps in right-sizing fleet cars, maintaining vehicles, reducing overhead expenses, lowering fuel costs, minimizing distance traveled, and modifying driver behavior, all of which contribute to increased operational efficiency.
Urbanization has increased the use of ridesharing and car-sharing systems, facilitating the transition to carpooling. MaaS focuses on providing tailored solutions for logistics solutions tailored to individual needs, significantly affecting the shipping industry. As the number of privately owned vehicles is expected to decline, fleet management service providers will need to change their operations, offer new and improved services, and possibly prune obsolete ones. This shift to shared transport presents new revenue opportunities for the fleet management market.
The implementation of hyper-pooling in fleet management has transformative potential. This new option allows up to 14 passengers to share a car, significantly increasing ridership and reducing the cost per passenger. Through resource efficiency, over-assembly increases operational efficiency and cost savings for fleet operators. This approach also supports sustainability goals by reducing the number of vehicles on the road, thereby reducing traffic congestion and carbon emissions. The potential for over-integration is noteworthy, as it benefits passengers even at higher demand levels, showing its potential in urban areas. This approach not only improves the financial efficiency of service providers but also contributes to environmental goals, making it an important development in the future of fleet management.
In 2024, fleet management is set to undergo transformative changes driven by advancements in technology and evolving industry needs. The integration of OEM and aftermarket telematics allows fleets to aggregate data from multiple sources for a unified view of vehicle performance. These changes are accompanied by a focus on increasing driver safety and satisfaction through AI, Advanced Driver Assistance Systems (ADAS), and video telematics that prioritize well-being over aggressive surveillance. In addition, the increasing adoption of electric vehicles (EVs) is being supported by fleet management systems designed to optimize battery health and battery management. AI is revolutionizing day-to-day operations by streamlining route planning and maintenance, providing significant benefits for fleets that embrace these innovations.
In conclusion, the demand for fleet management is constantly increasing worldwide, driven by the need for efficient vehicle tracking, maintenance, and optimization. Businesses with fleets of vehicles, such as logistics and transportation companies, are adopting fleet management solutions to reduce operating costs, improve driver safety, and enhance customer service. This comprehensive perspective provides stakeholders with valuable information to navigate opportunities and challenges and ensures strategic decisions for sustainable growth in the global Fleet Management market.
For a detailed analysis of regions and their contributions Request For Free Sample Report: https://www.maximizemarketresearch.com/request-sample/29184/ 
Segment Overview
MMR has segmented the market based on
By Component
SolutionServiceBy Deployment Type
On-premisesCloudBy Fleet type
Commercial fleetsPassenger carsBased on Fleet type, the market is sub-segmented into Commercial fleets and Passenger cars. The demand for passenger cars is likely to be larger. Vehicles with a seating capacity of up to six people, excluding the driver, are referred to as passenger automobiles. Passenger automobiles are further divided into the following divisions based on agreed-upon sub-categories: micro cars, compact cars, midsize cars, executive cars, premium cars, and luxury cars. It’s easier and more cost-effective than ever to lease a small fleet of cars, minivans, or pickup trucks. For keeping the cars well maintained, the linked services include supply chain management, maintenance, licensing and compliance, fuel management, and accident claims. The Fleet Management Solution aids in the organization, management, and coordination of fleets.
Detailed segmentation values for each segment and explanations for growth are provided in the final report. https://www.maximizemarketresearch.com/market-report/global-fleet-management-market/29184/ 
Geography Overview
In Fleet Management North America region leading the market. The US government is actively evaluating telematics’ ability to minimize accident costs, which is pushing the demand for fleet management services. Ford, GM, and Fiat Chrysler dominate the fleet market in the United States. To generate profits, OEMs are shifting fleet sales to auctions. If the cost benefits of fleet maintenance and leasing are widely recognized, many new customers may be attracted. Also, dwindling government reserves and fears of a second recession could restrain market expansion.
According to the Environmental Protection Agency, the burning of fossil fuels such as diesel and gasoline for transportation and passengers is the second largest contributor to carbon dioxide emissions and nearly all greenhouse gases and it is the U.S. 31% of carbon dioxide emissions and more than a quarter United States. Excretion of substances from the body. After several initiatives, the US. The Department of Homeland Security has routinely used fleet management solutions to provide data-driven insights for its fleet managers to monitor fleet operations. WEX Inc. has awarded a telematics contract to the Department of Homeland Security (DHS) to provide equipment and services for vehicle telecommunications.
In the final report, past and future numbers and explanations are incorporated seamlessly to provide a comprehensive understanding of the Global Fleet Management market.
Related Reports:
Container Fleet Market size was valued at USD 12.40 Billion in 2023 and the total Container Fleet Revenue is expected to grow at a CAGR of 5.8% from 2024 to 2030, reaching nearly USD 18.40 Billion by 2030.
IoT Fleet Management Market is anticipated to reach US$ 29.42 Bn by 2030 from US$ 7.97 Bn in 2023 at a CAGR of 20.5 % during a forecast period.
Fleet Telematics Market size is expected to reach US$ 70.24 Bn. by 2030, at a CAGR of 13.35% during the forecast period.
Automotive Vehicle Fleet Leasing Market is expected to reach US$ 50.80 Bn by 2030, at a CAGR of 5.88% during the forecast period.
Connected and Autonomous Mobility Vehicles Market size was valued at USD 149.43 Billion in 2023 and is expected to grow at a CAGR of 40.1 % from 2024 to 2030, reaching nearly USD 1583.08 Billion.
Container Fleet Market size was valued at USD 12.40 Billion in 2023 and the total Container Fleet Revenue is expected to grow at a CAGR of 5.8% from 2024 to 2030, reaching nearly USD 18.40 Billion by 2030.
Smart Fleet Management Market size was valued at USD 487.23 Billion in 2023 and the total Smart Fleet Management Market revenue is expected to grow at a CAGR of 8.36% from 2024 to 2030, reaching nearly USD 854.65 Billion.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems.
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Intelligent Transportation System Market worth $70.7 billion in 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, July 19, 2024 /PRNewswire/ — The global intelligent transportation system market is expected to reach USD 70.7 billion in 2029 from USD 50.7 billion in 2024, at a CAGR of 6.9% during the forecast period according to a new report by MarketsandMarkets™. The market’s growth is propelled by growing demand from emerging economies, growing public-private partnerships, and growing demand for mobility services. However, the high upfront costs of implementation restrain the market’s growth.

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Browse in-depth TOC on “Intelligent Transportation System Market” 150 – Tables60 – Figures210 – Pages
Intelligent Transportation System Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 50.7 billion
Estimated Value by 2029
$ 70.7 billion
Growth Rate
Poised to grow at a CAGR of 6.9%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Offering, Mode, System and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Complexity of data management and privacy
Key Market Opportunities
Growing demand from emerging economies
Key Market Drivers
Rapid urbanization to fuel the demand for intelligent transportation system
The Roadways segment is expected to dominate in the forecast period.
The roadways are expected to continue holding major shares of passenger and freight transportation. This huge number of vehicles demands advanced management systems to enable the smooth flow of traffic and decongest it. Various governments are investing in smart city initiatives and roadway infrastructure. These investments focus on the roadways as it has a high impact on daily commuting and economic activities.
The commercial vehicle operation segment is anticipated to grow fastest during the forecast period.
The commercial vehicle operation segment is expected to grow fastest in the forecast period, boosted by several factors. Government regulations and mandates of safety, emissions, and operational standards are being deployed and hence drive the adoption of ITS in commercial vehicle operations. The technologies, such as electronic logging devices, fleet management systems, and telematics, ensure compliance with such regulations.
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US in the North America region to dominate the intelligent transportation system industry during the forecast period.
The US transport infrastructure is very well developed, with long road networks, highways, and urban transit systems that can support the deployment of advanced ITS technologies. It is home to major technology companies and research institutions developing and implementing advanced ITS solutions. These companies have adopted artificial intelligence, machine learning, IoT, and big data analytics, which are crucial for the success of ITS.
Key players
The intelligent transportation system companies includes significant Tier I and II players like Siemens (Germany), Hitachi Ltd. (Japan), Cubic Corporation (US), Conduent Incorporated (US), Kapsch TrafficCom AG (Austria), Denso Corporation (Japan), Teledyne Technologies Incorporated (US), Indra SIstemas S.A. (Spain), Garmin Ltd. (US), and Tomtom International BV (Netherlands) are some of the key players in the intelligent transportation system market.
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Rohan SalgarkarMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/intelligent-transport-systems-its-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/intelligent-transport-systems-its.asp
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Artificial Intelligence

Infinix Introduces Groundbreaking 720° SphereTech NFC Technology

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Revolutionizing Smartphone NFC Usage for a Smarter, More Convenient Life
SHANGHAI, July 19, 2024 /PRNewswire/ — Infinix, a trendy tech brand crafted for young consumers, introduces its revolutionary 720-degree (720°) SphereTech Near Field Communication (NFC) technology. This groundbreaking advancement aims to transform user experiences by significantly enhancing the versatility and reliability of NFC applications on mobile devices. With its expanded signal coverage and unmatched stability, this innovative technology ensures smooth, seamless performance from any angle, setting a new standard for NFC functionality. 

While current NFC technology enables mobile payments and transit access, it often results in transaction failures and user frustration, particularly in crowded or fast-paced environments where precise alignment is necessary for successful interactions, which can be cumbersome and unreliable.
Infinix’s Industry-Leading 720° SphereTech NFC technology is designed to tackle these limitations by offering a revolutionary improvement, eliminating the need for precise alignment. “Our commitment to innovation and understanding user needs has driven us to create a solution that not only enhances functionality but also provides unparalleled security and convenience for our users. The 720° SphereTech NFC significantly improves the mobile experience in NFC applications, offering seamless, reliable, and secure interactions from multiple angles[1]”, said Li Cao, Senior Manager, NFC Department of Infinix.
This technology comes with three major breakthroughs in spatial layout, signal compatibility, and material type configuration. The enhanced design ensures superior integration, while the improved signal range and strength guarantee optimal performance. Similarly, the use of optimized materials further boosts reliability and efficiency. This proprietary, self-developed patent has increased the card reading area by 200%[2] and doubled the signal range.
Furthermore, Infinix’s 720° SphereTech NFC technology is the first to support reading and tapping cards from three sides of the mobile device, such as the front, top, and back, achieving a 100%[3] signal range improvement compared to the existing 360° NFC technology, which only reads cards from the back. This innovation also allows users to read and tap at different angles, providing unparalleled convenience and functionality.
User Convenience and Security
The Infinix’s 720° SphereTech NFC technology offers transformative benefits with its comprehensive coverage, doubling the range of conventional NFC to ensure stability from any direction and significantly reducing transaction failures. This technology excels in busy public spaces by overcoming angle limitations for smoother and more reliable interactions. Its advanced security features set a new standard with the capability to remotely disable NFC functions on lost or stolen devices. This feature offers users peace of mind, knowing that their personal data and financial information remain protected, even if the physical device is compromised.
A New Standard for NFC Technology
Infinix is set to revolutionize NFC technology by addressing its key limitations and unlocking its full potential. This innovation will create a new generation of mobile services that are more intuitive and effortless for users. Infinix’s 720° SphereTech NFC technology demonstrates the company’s commitment to delivering meaningful innovation and enhancing user experiences.
Stay tuned for more updates as this groundbreaking technology will be available on Infinix’s upcoming devices.
[1] Refers to the technology’s capability to read and tap cards at various angles on the device in normal handheld positions, except from the bottom side.[2] The testing data is derived from controlled laboratory tests and compared against selected models available in the market.[3] Testing data is based on laboratory tests, and actual use may vary.
Media Contacts:
Infinix Global PR – [email protected]
About Infinix:
Founded in 2013, Infinix is a trendy tech brand crafted for young consumers. With a presence in over 70 countries, Infinix delivers cutting-edge technology, stylish design, and outstanding performance. Our product lineup includes smartphones, TWS earbuds, smartwatches, laptops, and smart TVs. In 2023, Infinix was recognized in Kantar and Google’s top 50 Chinese Global Brand Builders Report and ranked sixth in Fast Company’s World’s Most Innovative Companies of 2024 in the Asia-Pacific sector. For more information, please visit: http://www.infinixmobility.com/.
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