Skip to main content

Europe fastest growing region for ITS, says report

According to Technavio’s latest report, the global intelligent transport systems (ITS) market is expected to exceed US$58 billion by 2020, growing at a CAGR of over eight per cent during the forecast period. The global ITS market is expected to grow moderately during the forecast period. The major customer segments of ITSs are public departments, municipal corporations, government organizations, car and truck leasing companies, and construction firms. “These systems help make traffic and fleet manag
April 15, 2016 Read time: 3 mins
According to Technavio’s latest report, the global intelligent transport systems (ITS) market is expected to exceed US$58 billion by 2020, growing at a CAGR of over eight per cent during the forecast period.

The global ITS market is expected to grow moderately during the forecast period. The major customer segments of ITSs are public departments, municipal corporations, government organizations, car and truck leasing companies, and construction firms.

“These systems help make traffic and fleet management much more streamlined and cost-effective in the long run. In addition, the use of these systems can eliminate inefficiencies caused by manual operations,” says Sharan Raj, lead analyst for transportation and distribution research at Technavio.

The report covers the present scenario and growth prospects of the Global Intelligent Transport Systems Market 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top six vendors operating in the market. The market is segmented into four regions: North America; Europe; APAC; ROW.

The ITS market in North America is expected to exceed US$26 billion by 2020, growing at a CAGR of over seven per cent. In North America, the market is expected to grow at a steady rate during the forecast period. The US and Canada are the key contributors to this market.

North America accounted for the highest market share in 2015 due to the high demand for network management, freight and commercial ITS, public transport ITS and security and crime reduction ITS in this region. However, North America is expected to show slower growth than Europe because the market in this region is becoming saturated and is headed towards maturity.

The intelligent transport systems market in Europe is expected to exceed US$10 billion by 2020, growing at a CAGR of over nine per cent.

The market in the region is experiencing rapid growth and is expected to show the fastest growth over the forecast period. Countries such as Austria and Germany are the key contributors to the market in Europe. One of the major factors for the growth of the market in this region, is the growth of the ITS communications market. The ITS communications market in Europe was valued at US$988 million in 2015.

In APAC, the market is expected to exceed US$12 billion by 2020, growing at a CAGR of over eight per cent and is expected to grow moderately during the forecast period.

Night vision systems and adaptive cruise control systems are highly popular in countries such as Japan and South Korea. The market in this region is presently concentrated in a few countries, and so, the scope for growth has pushed the demand in this region. “Emerging countries such as India and China are expected to boost the market during the forecast period, due to developments in roads and infrastructure in these countries,” says Sharan.

The intelligent transport systems market in ROW is expected to exceed US$8 billion by 2020, growing at a CAGR of over nine per cent and is expected to grow at a fast pace during the forecast period.

The ROW includes countries in Latin America and MEA. Some of the major factors for the growth of the market in ROW, are the growth of the ITS communications, and the freight and commercial ITS markets in this region.

Related Content

  • January 3, 2017
    Public transport ITS market in Europe and North America to grow 7 per cent by 2020
    The latest research from Berg Insight indicates that the market for intelligent transport systems (ITS) in public transport operations in Europe was US$1.4 billion (€1.35 billion) in 2015. Growing at a compound annual growth rate (CAGR) of 7.2 per cent, it is expected to reach US$2 billion (€1.91 billion) by 2020. The North American market for public transport ITS is similarly forecast to grow at a CAGR of 8.1 per cent from US$0.6 billion (€0.59 billion) in 2015 to reach US$0.9 billion (€0.87 billion) in
  • December 9, 2015
    Growth of global collision avoidance system market to 2020
    The latest report from Reports and Reports indicates that the global market for collision avoidance systems is expected to grow at a CAGR of 7.74 per cent between 2015 and 2020. This report segments the collision avoidance system market comprehensively and provides a close approximation of the size of the overall market and its sub-segments across verticals and regions. The worldwide collision avoidance systems market is expected to be driven by the growing focus of consumers and OEMs on safety features
  • October 21, 2016
    Alternative fuel and hybrid vehicle ‘to grow at 12.9 per cent to 2022’
    A new report published by Allied Market Research, Alternative Fuel and Hybrid Vehicle (AFHV) Market by Alternative Fuel Type, Vehicle Type, and Geography: Global Opportunity Analysis and Industry Forecast, 2014-2022, projects that the world AFHV market is expected to reach US$614 billion by 2022, growing at a CAGR of 12.9 per cent during the forecast period. The passenger vehicle segment is estimated to dominate the market from 2016 to 2022. Asia-Pacific dominated the global market accounting for a market s
  • December 7, 2012
    Europe to become the fastest growing market for ADAS
    The latest report from independent technical consultancy SBD finds that, despite their huge potential to save lives, Advanced Driver Assistance Systems (ADAS) have so far failed to contribute significantly to the drop in road fatalities, due primarily to stubbornly low penetration rates over the last decade. However, this is poised to change, as costs begin to fall, consumer interest continues to grow, and most importantly, independent vehicle safety assessor EuroNCAP includes some ADAS applications within