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

  • ITS innovations – a change for the better?
    May 5, 2016
    Josef Czako takes a look at what the future developments may hold for both the transport sector and society. As the dust of the 2015 World Congress in Bordeaux settles, we can begin to see more clearly some of the most important future innovations in ITS are starting to be linked together: mobility as a service (MaaS), mobility pricing and autonomous vehicles. They all are based on global trends, like digitalisation, automation and servitisation.
    Read More
  • Traveller experience study identifies key themes for improving transport network
    October 14, 2015
    The UK’s Transport Systems Catapult has identified key areas of development in the transport network in its traveller experience study, Traveller Needs, which comprised of 10,000 online questionnaire respondents, 50 company interviews, and 100 expert interviews. The research found that 75 per cent of journeys are characterised by pain-points, with 57 per cent of travellers always looking for ways to optimise their journey. Public transport is considered to be poor value for money with the ‘high cost
    Read More
  • ITS can reduce Bangkok’s congestion, improve safety
    August 24, 2015
    A new research report produced by the GSMA, Building Digital Societies in Asia: Making Transportation Smarter, indicates that the successful implementation of intelligent transport systems (ITS) in Thailand’s capital could reduce travel times, carbon dioxide (CO2) emissions and road accidents, driving social and economic benefits of up to US$1 billion per year. In addition, the case study on Bangkok’s transportation indicated that ITS can also potentially result in long-term positive changes in commuter hab
    Read More
  • Vehicle intelligence systems market ‘worth US$20.11 billion’
    June 15, 2016
    The latest research by MarketsandMarkets, Vehicle Intelligence Systems Market by Road Scene Understanding, Advanced Driver Assistance & Monitoring, predicts that the global market for vehicle intelligence systems will grow at a CAGR of 12.24%, from US$11.29 Billion in 2016 to US$20.11 Billion by 2021. Given the increasingly stringent safety norms, automotive OEMs are focusing on enhancing the safety of vehicles. To ensure the safety of the driver, passengers, and pedestrians, the vehicle needs to be inte
    Read More

Highlighted Content