In order to boost productivity, solve traffic issues and increase financial benefits, the transportation service providers have been continuously looking for cost-effective solutions across the world. Intelligent transportation systems (ITS) have evolved as a mode of coupling information and communication technologies along with the present transportation networks so as to enhance their passenger travel experience and operating efficiency. Over the last decade, the global intelligent transportation system market has achieved huge growth and is estimated to grow at a rapid pace in the next few years. The potential growth opportunity existing in this market has been attracting vendors to invest in this market along the entire value chain of the ITS industry.
Market Classification and Overview
Different types of intelligent transportation systems in the market include advanced traveler information system (ATIS), advanced transportation pricing systems (ATPS), advanced public transportation systems (APTS), advanced transportation management systems (ATMS), automatic number plate recognition systems (ANPR), and cooperative vehicle systems. Out of these types, the ATMS segment commanded the largest share in the global ITS market. Factors such as rising demand for traffic control solutions, especially adaptive signaling systems, across the globe is propelling the growth of this market segment. In order to reduce the traffic at toll booths, the highway operators across the globe are fixing electronic toll charging systems.
The APTS segment is expected to garner rapid pace of growth in the global ITS market owing to the huge investment by public transportation operators in dynamic display systems and electronic fare collection systems. ITS systems are used for various applications that include traffic management, road safety and surveillance, environment protection, road user charging, freight management, automotive telematics, public transport, and parking management. ITS systems used for traffic management commanded the largest share of the global ITS system market, owing tohuge investments from governments in traffic reduction solutions across the globe.
Geographically, the intelligent transportation system (ITS) market has been broadly categorized into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA). North America commanded the largest share in the global ITS market and is expected to maintain its market leadership position throughout the future years. The major factors boosting the growth of ITS market in this region include rising number of research activities, strong government support and public-private partnerships. Countries such as Mexico and Canada are employing U.S. transportation standards to enhance the performance of their transportation networks. The European ITS market constitutes countries such as France, UK, Germany, and Italy. Countries such as UK and Germany have adopted ITS in early stage and have invested hugely in these technologies in order to reduce road safety and traffic problems. Presently, in the European market, Germany commanded the largest share in the intelligent transportation system market.
The Asia-Pacific region displays huge growth potential in the global intelligent transportation system market. Japan has also adopted ITS early and commands the largest share in the Asia-Pacific ITS market. However, China and India are the rapidly growing countries in Asia-Pacific ITS market owing to huge investments being made in these nations. This is expected to fuel the demand for intelligent transportation systems in Asia-Pacific.
Global Intelligent Transportation System Market
2014 – 2024
2014 – 2015
2017 – 2024
Type, Application, Geography
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,
Player Profiling, Value Chain Analysis
The players in the global intelligent transportation system marketacross the globe include Siemens AG, WS Atkins PLC, Hitachi Ltd, EFKON AG, Garmin International Inc., Nuance Communications Incorporation, Telenav Inc., Thales Group, Iteris Inc., and TomTom NV.
Market by Type
· Advanced traveler information system (ATIS)
· Advanced transportation pricing systems (ATPS)
· Advanced public transportation systems (APTS)
· Advanced transportation management systems (ATMS)
· Automatic number plate recognition systems (ANPR)
· Cooperative vehicle systems
Market by Application
· Traffic management
· Road safety and surveillance
· Environment protection
· Road user charging
· Freight management
· Automotive telematics
· Public transport
· Parking management
Market by Geography
· North America
o Rest of Europe
o Rest of Asia-Pacific
· Latin America
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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