Intelligent Transportation System (ITS) Market share revenue worth USD 47.5 billion by next Six years

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Intelligent Transportation System (ITS) Market
worth USD 47.5 billion by 2022 Global Market
Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Intelligent Transportation
System (ITS) Market

• Internet of things, big data, analytics, and
  mobile technology have significantly marked their
  presence across various industries. Automotive
  industry which is booming with the rapid increase
  in population is now much of a technology
  revolutionized space. With the growing number of
  vehicles, there has been an immense demand for
  road safety and traffic management to enhance
  user travel experience. This rising demand to
  improve transport efficiency has positively
  impacted the growth of Intelligent Transport
  System in the automotive industry.
• Traffic management has been a major challenge due
  to the growing number of vehicles and multimodal
  transport. The demand for safety, operational
  performance and transport efficiency is driving
  the demand for ITS market. Moreover, rising
  environmental concerns as a result of pollutant
  emission and depleting fuel resources is also
  fueling the growth of ITS market to enable
  congestion free transport.

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Continued...

• The system improves the transport efficiency by
  offering features like traffic prediction,
  traveler information, advisory services,
  analytics and decision support, ticketing and
  fare collection, roadside sensors, global
  positioning systems, and radio frequency tags.
  ITS services enable vehicles to share positions
  and data with each other as well as with the
  network and road infrastructures.
• ITS is being adopted worldwide to build improved
  transport strategies, thereby marching towards
  smart transportation. North America and Europe
  have made it compulsory for the vehicles to use
  ESC (Electronic Stability Control) in public as
  well as private transport. Moreover, the US DOT
  (Department of Transport) has started a Federal
  ITS program supporting and emphasizing the
  manufacturing of intelligent vehicles and
  implementation of intelligent infrastructure. The
  growing adoption of these devices will positively
  impact the ITS market share over the coming
  years. North America led the ITS industry in
  2014, contributing towards 41.5 of the overall
  market share. Favorable government norms and
  promotional activities will continue to drive the
  industry growth in the coming years.

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U.S. ITS market size by application, 2012-2022
(USD Million)

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Continued...

• Asia Pacific ITS market is anticipated to record
  the highest growth rates over the next few years.
  The growth can be attributed to the rising
  advancements in sensor technologies and huge
  adoption of this system by countries like India
  and China. APAC ITS market is forecast to grow at
  a CAGR of 13.9 over the period of 2015-2022.
• ITS offers a wide range of application in Traffic
  Management, Road Safety and Security, Parking
  Management, Freight Management, Public Transport,
  Road User Charging, Environment Protection, and
  Automotive Telematics. Global ITS demand in
  Traffic Management was worth USD 5.6 billion in
  2014 and is forecast to surpass USD 14 billion by
  2022. Improved operational performance offered by
  these devices is likely to boost the market
  demand.
• ITS demand in road user charging and public
  transport is likely to grow at a CAGR of 12 and
  13.3 respectively.

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Continued...

• Advanced Transportation Pricing System (ATPS) is
  being adopted widely by manufacturers as a
  product differentiation strategy to stay ahead of
  the competition. Implementation of this system
  helps in avoiding overcrowded routes, thereby
  reducing the overall travel time along with
  excessive fuel consumption. Owing to economic
  benefits provided by ATPS implementation, the
  ATPS market is likely to be worth USD 13.2
  billion by 2022, recording a CAGR of 13 from
  2015-2022.
• Advanced Traffic Management Systems (ATMS),
  another product derivative of ITS will also
  witness a significant surge in the coming years
  hitting a market value of USD 18.4 billion by
  2022. Advanced Public Transportation System
  (APTS) market is expected to grow at a CAGR of
  13 from 2015-2022, key applications including
  automatic vehicle location system, real-time
  passenger information system, and bus arrival
  notification system.

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Continued...

• The industry is dominated by top 10 players
  accounting for the majority of market share.
  These players are Hitachi Ltd., Siemens AG,
  Q-Free ASA, SWARCO AG, Denso, Garmin
  International, Xerox Corp, IBM Corp., Kapsch
  TrafficCom, and TomTom NV.
• Intelligent Transport System implementation will
  positively impact the overall automotive industry
  over the coming years. The system is not just a
  software solution, but is indeed a much wider
  concept. The data collected by the deployment of
  ITS can be a major asset for the auto
  manufacturers, which enables them to get a
  detailed insight about their vehicle performance
  in various environments.
• Not only automotive, ITS provides a broad scope
  of its data usage by other industries as well,
  such as Airline, Retail, and healthcare etc.
  Making the automotive industry smarter, ITS
  market is all set to experience a remarkable rise
  in the coming years.

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