ITS market expected to reach $33.75 billion by 2020

According to a new market research report by MarketsandMarkets, Intelligent Transportation Systems - Analysis and Forecast to 2014 – 2020, the intelligent transport systems (ITS) market is expected to grow at a CAGR of 11.30 per cent from 2014 to 2020 and reach US$33.75 billion in 2020. The report describes the market trends, drivers and challenges of ITS market and forecasts the ITS market from 2013 to 2020, based on the various systems of ITS, applications, and geography. This report covers geographies
May 15, 2015 Read time: 1 min
According to a new market research report by 6418 MarketsandMarkets, Intelligent Transportation Systems - Analysis and Forecast to 2014 – 2020, the intelligent transport systems (ITS) market is expected to grow at a CAGR of 11.30 per cent from 2014 to 2020 and reach US$33.75 billion in 2020.

The report describes the market trends, drivers and challenges of ITS market and forecasts the ITS market from 2013 to 2020, based on the various systems of ITS, applications, and geography. This report covers geographies such as the Americas, Europe, APAC, and ROW (rest of the world).

The major driving factors for ITS are solutions to traffic congestion and government support; public private partnership is the key to the success in implementing intelligent transportation systems.

The report also discusses various new technologies like V2V and V2I communication systems; it also includes the prominent architecture of ITS and insights of standards used in ITS.

For more information on companies in this article

Related Content

  • UK government to investigate best practice for travel information
    January 30, 2012
    The UK Government has been advised by an internal inquiry that it should investigate examples of best practice in travel information services. So where might it look? Jon Masters reports. Publication of a UK Government report on road congestion this year has highlighted a need to look beyond home borders when searching out answers to pressing problems. With regard to issues of travel information in particular, UK transport professionals would do well to look overseas for solutions they can emulate.
    Read More
  • Telvent relocates and takes a global stance on ITS
    March 12, 2012
    Telvent's Manuel Sanchez Ortega, on relocating the company's headquarters to the US and how that fits in the international scheme of things. The change-of-address cards are in the post; Manuel Sanchez Ortega has just moved homes. The domestic upheaval of Telvent's Chairman and Chief Executive comes as a result of the decision to relocate many of the company's headquarter functions from Madrid to Rockville, Maryland in the US. Viewed in the context of its significant recent acquisitions in North America - am
    Read More
  • Iteris to expand its iPerform data and analytics software solutions
    March 12, 2013
    Intelligent traffic management information solutions provider Iteris is expanding its iPerform traffic and weather-related data and analytics software offering. iPerform was established in 2011 and provides a new generation of intelligent traffic and weather-related information solutions. These solutions bring the power of big data to the prediction of traffic conditions and the delivery of actionable information to both the public and commercial marketplace. The segment’s initial product, IterisPeMS, is a
    Read More
  • Sales of microelectric vehicles will be boosted by 85 per cent by 2013
    May 29, 2012
    Greener agendas, emission-based taxation, parking charge exemptions, and mass-produced electric vehicles are all working together to increase the sales of microelectric vehicles to 0’118,000 units by 2017 within the North American market new analysis from Frost & Sullivan predicts. This represents a compound annual growth rate (CAGR) of 39.30 per cent between 2010 and 2017. By 2013, the total count of microelectric vehicles in North America is likely to increase to 150 types, with the introduction of 34 new
    Read More

Highlighted Content