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

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

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Request for a sample of this research report @ 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. ITS or Intelligent Transport System market is anticipated to grow significantly in the coming years, hitting a revenue of USD 47.6 billion by 2022. – PowerPoint PPT presentation

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


1
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
2
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.

3
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.

4
U.S. ITS market size by application, 2012-2022
(USD Million)

5

Browse Full Market Research Report Intelligent
Transportation System (ITS) Market _at_
https//goo.gl/cCIWJx Read our Insightful Blog
_at_ https//goo.gl/K9bPLo Request for a Sample of
this Research report _at_ https//www.gminsights.com/
request-sample/detail/178
6
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.

7
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.

8
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.

9
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