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

For more information on companies in this article

Related Content

  • Umovity's Christian Haas: AI in ITS is 'evolving at speed'
    September 17, 2024
    The intersections between AI and ITS will shape the future of the industry. Christian U. Haas, CEO of Umovity, outlines some challenges – and looks forward to the opportunities
    Read More
  • 12th ITS Asia-Pacific Forum focuses on cooperation
    March 14, 2012
    In April this year, ITS Malaysia will host the 12th ITS Asia-Pacific Forum and Exhibition in Kuala Lumpur to further advance ITS cooperation and coordination between member countries in the region. In 1999, just a year after construction of the iconic Petronas Twin Towers was completed, Kuala Lumpur hosted the 3rd ITS Asia-Pacific Forum. A great deal has changed in the intervening 13 years, not least the scope and importance of the Forum’s programme. The 12th running of this event, being held from 16-18 Ap
    Read More
  • Investments in autonomous driving are accelerating, says report
    January 7, 2015
    Google and various automakers have increased their activity and investments toward the goal of self-driving vehicles, while Google has shifted from its previous strategy to now focus on fully driverless vehicles for the future. If successful, it will have significant implications for the auto industry, according to IHS Automotive, based on findings in its new report, Autonomous Driving: Question is When, Not If, which is an update to a previous report issued early in 2014. OEMs remain geared toward aug
    Read More
  • Video developments in automatic incident detection
    May 22, 2012
    David Crawford reviews technological progress with automatic incident detection Highway safety problems are likely to intensify given recent predictions of future traffic growth across the world. In the United States, the National Highway Traffic Safety Administration (NHTSA) reports that currently over 30,000 deaths and 1.5 million injuries occur as the result of accidents on the nation’s roads each year. These figures will increase with the number of kilometres travelled each year in the US expected to gr
    Read More

Highlighted Content