Global intelligent transportation systems market forecasts to 2016

Research and Markets’ latest report, Global Intelligent Transportation Systems Market - Forecasts to 2016 finds that one of the main trends witnessed in the global intelligent transportation systems market is the increasing Government initiatives. For instance, the US Department of Transportation is planning to conduct a real-world test of smart vehicles. This test will include vehicle-to-vehicle and vehicle-to-infrastructure communication. In addition, under the Pennsylvania Community Transportation Initia
March 14, 2014 Read time: 2 mins
7527 Research and Markets’ latest report, Global Intelligent Transportation Systems Market - Forecasts to 2016 finds that one of the main trends witnessed in the global intelligent transportation systems market is the increasing Government initiatives. For instance, the 324 US Department of Transportation is planning to conduct a real-world test of smart vehicles. This test will include vehicle-to-vehicle and vehicle-to-infrastructure communication. In addition, under the Pennsylvania Community Transportation Initiative, US$24.7 million was given to 41 communities for intelligent transportation systems projects in 2012.

Other countries are also taking initiatives and are increasing their investment in implementing the intelligent transportation systems, which are leading to the growth of the global intelligent transportation systems market. According to the report, one of the main factors driving the market is the rapid growth of Global smart Cities. Intelligent transportation systems are an integral part of a smart city, and hence, it directly influences the adoption of intelligent transportation systems.

Thus, the rapid growth of the global smart cities market is contributing to the growth of the global intelligent transportation systems market. Further, the report states that one of the main challenges is the high maintenance cost. The high cost of maintaining transportation systems is a matter of concern especially for the public transportation sector. The expense involved in implementing these systems for public transportation is very high, and it can be achieved only by large amounts of government funding and incentives.
Urban Traffic Control

For more information on companies in this article

Related Content

  • Developing markets to drive commercial telematics systems to $12 billion by 2016
    May 18, 2012
    Fleet management and trailer tracking system revenues will grow at a CAGR of 19.4 per cent in the next five years, rising from about US$5 billion in 2011 to exceed $12 billion in 2016. ABI Research Telematics and Navigation Group Director Dominique Bonte comments: "While commercial telematics in developed markets such as North America and Western Europe is reaching maturity, especially in the trucking segment, the major growth in future is expected to come from developing regions where safety and security r
    Read More
  • The growth of ITS service solutions providers
    July 26, 2012
    Econolite's new subsidiary Aegis ITS has been set up to address the increasingly complex and exacting needs of agencies in the ITS sector. Chief Operating Officer Doug Terry talks about the evolution to service solution provider. A few very notable and honourable exceptions notwithstanding, it is these days becoming increasingly rare to find a public agency which develops its own traffic management systems. Indeed, most now rely on specialist manufacturers and suppliers to fulfil their needs. This has the h
    Read More
  • Need for real-time traffic information systems on the rise
    March 11, 2015
    New analysis from Frost & Sullivan, Strategic Analysis of Real-time Traffic Information Market in Europe and North America, finds that the number of real-time traffic information subscribers in North America stood at 1.9 million units in 2014 and estimates this to reach 14.2 million in 2021. In Europe, the number is expected to go up from 2.2 million in 2014 to 10.2 million in 2021. With traffic expanding at three times the rate of the economy, the research says the need for intelligent systems like real-ti
    Read More
  • Global toll revenues $8.5bn while technology ‘battles’ continue
    April 9, 2014
    ABI Research’s Dominique Bonte talks to Jason Barnes about trends in tolling and how a wider appreciation of technology options is sorely needed. Global Electronic Toll Collection (ETC) solution revenues will grow to $8.5bn by 2018, with ETC becoming a main source of funding for both Intelligent Transport Systems (ITS) and Vehicle-to-X (V2X) cooperative infrastructures, according to a new report from ABI Research (Chart 1). But, says the report’s author, ABI Research vice president and practice director Dom
    Read More

Highlighted Content