Intelligent Transportation System (ITS) Market – Global Industry Analysis Report, Share, Size, Growth, Price Trends and Forecast, 2022

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Intelligent Transportation System (ITS) Market
Global Industry Analysis Report, Share, Size,
Growth, Price Trends and Forecast, 2022
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Fuel Cell Market size worth 25.5bn by 2024
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Overview

• Intelligent Transportation Systems (ITS) Market
  size is predicted to touch 47.5 billion by end
  of 2022 and register CAGR of more than 13 during
  forecast timeframe. Factors like performance
  improvement of transportation systems and growing
  road safety requirements are predicted to promote
  the demand for these systems. Many initiatives
  are taken to deploy modern traffic management
  systems and enhance consciousness about
  significance of road safety.
• Intelligent transportation systems are modern
  applications offering new services related with
  various transportation traffic management modes
  and help clients make safe, smart and coordinated
  use of transportation networks. Further growing
  requirements for interoperability is predicted to
  promote industry growth during forecast timeframe.

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Product Trends

• Intelligent transportation systems are segmented
  into two types- ATMS (Advanced Traffic Management
  System) and APTS (Advanced Persistent Threat
  System).
• ATMS segment size was evaluated at more than 6
  million for 2014 and is predicted to touch 18.39
  billion by end of forecast timeframe. This system
  helps in identifying weather conditions, avert
  accidents and road susceptibility. The device is
  integrated with traffic control system that helps
  in reduction of congestion and ensures effective
  utility of road space.
• APTS segment helps in growing the efficacy and
  improve total security. It is predicted to
  register CAGR of more than 13.1 during forecast
  period. Its main applications are bus arrival
  notification system, passenger information system
  and vehicle tracking system.

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Application Trends

• Different traffic management systems are vehicle
  detection systems, bridge traffic management
  systems and ramp metering. They provide
  consistent road networks and improve operational
  performance.
• Road pricing segment is predicted to register
  CAGR of 12 during forecast period. It is
  predicted to lead the intelligent transportation
  systems (ITS) market due to innovative technology
  solutions like high occupancy toll lanes and
  vehicles miles travelled.

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Regional Trends

• APAC intelligent transportation systems (ITS)
  market size is anticipated to expand
  substantially due to increasing modernization in
  sensor technology along with its growing
  acceptance in nations like China and India.
• Latin America industry size is predicted to
  increase by more than 13.1 in future. North
  America intelligent transportation systems (ITS)
  market share was evaluated at more than 7
  billion for 2014. Favorable regulatory policies
  along with promotional events are predicted to
  enhance the demand of the systems in the region.
• European commission has taken various initiatives
  for investing in eSafety, EasyWay and Galileo.
  This is further anticipated to promote the
  industry growth in Europe. Germany intelligent
  transportation systems (ITS) market size is
  predicted to grow at more than 11 during the
  forecast timeframe.

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

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Competitive Trends

• Key industry players profiled in the report
  include Hitachi Limited, Agero Incorporation,
  Siemens AG, Sensys Networks Incorporation, Q-Free
  ASA, Garmin International Incorporation, WS
  Atkins PLC, TomTom NV, Denso Corporation, IBM
  Corporation, ADCCO LLC, EFKON AG, Kapsch
  TrafficCom AG, Nuance Communications, Iteris
  Incorporation, Lanner Electronics Incorporation,
  SWARCO AG, Ricardo PLC, Telenav Incorporation,
  Thales Group, TransCore Incorporation and Xerox
  Corporation.
• The intelligent transportation systems (ITS)
  market is competitive with top ten industry
  players contributing to major share of the global
  industry in 2014.

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