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

  • Ho Chi Minh City ‘must invest in transportation system’
    November 21, 2014
    Ho Chi Minh City (HCMC) could generate economic benefits of US$1.4 billion by investing in making its transportation system more resilient in extreme weather conditions, a study released by Siemens and consulting firm Arup today shows. Siemens and the Arup prepared the study, to show how intelligent infrastructure can assist cities in addressing the increased demand and at the same time offer better protection of their transport networks against extreme weather events. Calculations based on a review o
    Read More
  • In-vehicle intersection violation Warning system
    January 31, 2012
    Mike Schagrin, ITS Joint Program Office, RITA, and John Harding, NHTSA, describe US progress towards an in-vehicle Intersection Violation Warning system. In 2008, there were 37,261 fatalities on US roadways. Of these, 7,772, some 20.8 per cent of the total, were defined as intersection crashes or intersection-related crashes. Through a multi-agency research initiative led by the Research and Innovative Technology Administration (RITA), the US Department of Transportation (USDOT) has developed a prototype In
    Read More
  • Authorities switch on to all electric buses as costs tumble
    January 9, 2018
    Alan Dron looks at changes in bus propulsion as cities look to improve air quality and seek to reduce maintenance costs. Despite the ending of various incentives to adopt alternative fuels, the introduction of electric buses by US transit authorities is picking up speed as performance improves, costs drop and air quality considerations become increasingly significant. More US bus manufacturers are introducing zero-emission models and some recent contracts will see many more passengers getting their first
    Read More
  • Transportation safety and security markets worth US$62.96 billion by 2018
    December 2, 2013
    The latest report from MarketsandMarkets forecasts the global transportation safety and transportation security market to grow from US$37.80 billion in 2013 to US$62.96 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 10.7 per cent from 2013 to 2018. North America (NA) is expected to be the biggest contributor in terms of revenue contribution, while the growing markets Asia Pacific (APAC), Middle East and Africa (MEA) and Latin America (LA), are expected to experience increased market traction
    Read More

Highlighted Content