Intelligent Transportation System (ITS) Market Size, 2017-2022 | Industry Report
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:
Ø
Q-Free
Ø
Iteris Inc
Ø
Garmin International Inc
Ø
Kapsch Traffic Com AG
Ø
Tom Tom and Thales Group
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By
Type
- Cooperative
vehicle system
- ATMS
- APTS
- ATIS
- ATPS
- 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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