Over $13 billion to be invested in ITS in six years

According to a new report from Pike Research, ITS will see increased investment in coming years even as government budgets are tightening, because smart transport is seen as a way to maximise existing transportation systems without making major new capital investments. The company forecasts that global investment in smart transportation systems will total US$13.1 billion between 2011 and 2017. “Most of this investment will be in intelligent traffic management systems, as this is the sector with the broadest
June 25, 2012 Read time: 2 mins
According to a new report from 5644 Pike Research, ITS will see increased investment in coming years even as government budgets are tightening, because smart transport is seen as a way to maximise existing transportation systems without making major new capital investments. The company forecasts that global investment in smart transportation systems will total US$13.1 billion between 2011 and 2017.

“Most of this investment will be in intelligent traffic management systems, as this is the sector with the broadest range of potential applications,” says senior analyst Lisa Jerram. “It is also the sector that is applicable for all cities. Those in the developed world are starting to deploy technology for traffic management, monitoring, and demand management. Cities in emerging markets will incorporate ITS as they build out their transportation infrastructure.”

The Pike Research report, Smart Transportation Systems, focuses on four key smart transportation sectors: traffic management systems, smart charging for plug-in electric vehicles, public transportation systems and vehicle-to-vehicle systems.
Urban Traffic Control Location Based Systems

Related Content

  • Transcore challenges perceptions, targets broader markets
    December 13, 2012
    In August this year, Tracy Marks took over the presidency of TransCore, succeeding John Simler, who has moved on to other roles within parent company Roper Industries. A 19-year veteran of the company, Marks describes himself as having been groomed for the job. Previously responsible for TransCore’s Southern region in the US, he also took on a series of roles, including the top job at United Toll Systems, as part of moves which were carefully choreographed to prepare him for where he is now. The appointmen
    Read More
  • Ten per cent growth expected in global ITS market
    February 5, 2016
    According to the latest research by Research and Markets, the global intelligent transportation systems (ITS) market is poised to grow at CAGR of over 10 per cent during 2015-2020. The report, Global Intelligent Transportation Systems Market by System, by Application and Competition Forecast and Opportunities, 2010-2020, says that, with the market being too fragmented, a large number of players are engaged in offering ITS solutions across the globe.
    Read More
  • Smart transportation market worth US$138.76 billion by 2020
    July 24, 2015
    According to a new market research report, Smart Transportation Market by Solutions (Ticketing Management, Parking Management, Traffic Management, Smart Signalling, Multimodal Information Systems, Passenger Information Systems, Cloud Services, Business Services) - Global Forecast to 2020, published by MarketsandMarkets, the smart transportation market is set to grow from US$46.72 billion in 2015 to US$138.76 billion by 2020, growing at a CAGR of 24.3 per cent from 2015 to 2020.
    Read More
  • Travel information is heading towards smartphones
    January 30, 2012
    Travel information services are undergoing a step change as rapid increase in sales of smartphones brings ITS technology to consumers' fingertips. A virtuous circle of expanding capability is under way in traffic and travel information services, promising much for drivers and reduction of road congestion. A recent rapid rise in sales of smartphones has boosted numbers of vehicles carrying GPS enabled devices and so brought expansion of traffic data available for analysis and dissemination. Greater numbers o
    Read More

Highlighted Content