Intelligent transportation system market ‘worth $33.89 billion by 2020’

According to a new market research report by MarketsandMarkets, the intelligent transportation system market is expected to grow at a CAGR of 11.57 per cent between 2015 and 2020, and reach US$33.89 billion by 2020. The report, Intelligent Transportation System Market by Component (Interface Board, Sensor, Surveillance Camera and Others), System (ATMS, ATIS, ITS-Enable Transportation Pricing System, APTS, and CVO), Application, and Geography - Analysis & Forecast to 2015 – 2020, says that continuous inno
July 17, 2015 Read time: 2 mins
According to a new market research report by 6418 MarketsandMarkets, the intelligent transportation system market is expected to grow at a CAGR of 11.57 per cent between 2015 and 2020, and reach US$33.89 billion by 2020.

The report, Intelligent Transportation System Market by Component (Interface Board, Sensor, Surveillance Camera and Others), System (ATMS, ATIS, ITS-Enable Transportation Pricing System, APTS, and CVO), Application, and Geography - Analysis & Forecast to 2015 – 2020, says that continuous innovation in this market has helped improve transportation management and reduce traffic congestion. Currently, applications in advanced traffic management systems (ATMS) lead the overall market. ATMS has been the most successful and adaptable ITA system due to its different functions such as real-time traffic monitoring, traffic signal controlling, incident monitoring, automated warning, dynamic message sign monitoring, traffic camera monitoring and road weather information monitoring. This has resulted in a wide utilisation of these systems in many applications.

The report covers the global intelligent transportation systems market and all its aspects such as opportunities, drivers, and restraints in detail. In this report, the overall market has been divided into five major segments components, systems, applications, and geography. This is a growing market; it is segmented based on systems into advanced traffic management system, advanced traveller information systems, ITS-enabled transportation pricing systems, advanced public transportation systems and commercial vehicle operation systems.

The application segment includes fleet management and asset monitoring, traffic monitoring systems, traffic signal control systems, collision avoidance systems, variable traffic message signs, parking availability systems, traffic enforcement cameras and automotive telematics.

The component segment has been divided into interface boards, sensors, software, surveillance cameras, telecommunication networks, and monitoring and detection systems.

The geographic split of this market has been included in the report. The overall market has been divided into four major geographic regions, namely- North America, Europe, APAC, and RoW. Amongst all, North America currently leads the overall intelligent transportation system market.

Major players in this market are 596 Thales Group (France), 490 Garmin International (US), 4984 Kapsch TrafficCom (Austria), 1692 TomTom International (Netherlands), Nuance Communications (US), and 108 Q-Free (Norway).
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