Intelligent Transportation System (ITS) Market 2022 Development Trends

From: crystal market research
Published: Tue Dec 05 2017

The Global Intelligent Transportation System (ITS) Market was worth USD 14.58 billion in the year 2012 and is expected to reach approximately USD 28.45 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 6.91% during the forecast period. Intelligent Transportation System (ITS) is a blend of information technology and communication with transportation systems which builds the productivity of transport process and enhances traveler security. A proficient transportation system positively affects the low number of road mishaps, decrease in debilitate discharges and less travel time. Systems as such give comfort to explorers in the case of driving a vehicle independently or utilizing open transport. The requirement for incorporated versatile systems in public transit has been on the ascent because of worries of public safety. Contemporary transportation providers are seeking after flexible vehicle computing systems incorporating portable surveillance, monitoring and tracking to guarantee the security of their travelers and simplify implementation procedure. Nations, for example, India and France are concentrating on usage of these systems attributable to rising interest for enhanced traffic conditions and travel comfort for drivers and in addition pedestrians. The usage of data on real time basis to encourage better choices alongside the requirement for management of traffic focuses will empower clients to react productively, consequently expanding the interest for intelligent transportation systems. The business players are concentrating on improving the capacity and innovation of their items and administrations inferable from the existence of several competitors. For example, in July 2016, NXP Semiconductors N.V. and eSSys declared innovation organization in cutting edge Cooperative Intelligent Transportation System (C-ITS) venture proposed by Korean Ministry of Land, Infrastructure and Transport.

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In 2015 Environment protection portion was esteemed at USD 546.6 million. This section is relied upon to witness quickest development attributable to the requirement for decreasing fumes outflows. It is one of the key needs of intelligent transportation systems, which is focused through bringing down of carbon dioxide and greenhouse gases concentration in thickly populated territories through traffic management. In 2015 Movement administration represented more than 30.5 percent of the general profit. These resolutions are utilized to enhance road networks by diminishing the financial pressure on administrative experts as it diminishes investment required to uphold traffic blockage control.

In 2015 Asia Pacific represented more than 23 percent income share and is expected to be the quickest developing area inferable from the adoption of ITS in Hong Kong, India, and Australia. Government controls and principles for ITS to deploy self-driving autonomous cars is boosting the requirement for systems like these in the district. For example, in the Republic of Korea, the distribution of ITS has expanded the average traffic speed by 20 percent. In 2015 North America ruled the market attributable to the instigating requirement from public and private division in the United States Government activities and arrangement of security advancements in business vehicles has expanded the buyer base over recent years.

Major Market Players:

 Q-Free
 Iteris Inc
 Garmin International Inc
 Kapsch Traffic Com AG
 Tom Tom and Thales Group

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By Type

• Cooperative vehicle system
• Others

By Application

• Environment protection
• Traffic management
• Road user charging
• Road safety and security
• Automotive telematics
• Freight management
• Public transport
• Parking management

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