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

  • Europe ‘accounted for largest share in global TCMS market in 2015’
    October 14, 2016
    According to the latest research by P&S Market Research, the global train control and management system (TCMS) market was valued at US$2,031.6 million in 2015, and it is expected to grow at a CAGR of 8.2 per cent during 2016-2022. Researchers indicate that increasing population and urbanisation, growing demand for safe and comfortable rapid transit solutions in developed as well as developing regions, and stringent emission control norms are expected to drive the demand for TCMS over the forecast period.
    Read More
  • WiM market to reach $1.8bn by 2027: report
    February 2, 2023
    Research and Markets predicts CAGR of 10% in sector over the next five years
    Read More
  • Global fleet management system market 2012-2016
    March 12, 2014
    TechNavio's Global Fleet Management System Market 2012-2016 report forecasts that the fleet management system market will grow at a CAGR of 26.66 per cent over the period 2012 to 2016. One of the key factors contributing to this market growth is the expansion of fleet size of commercial vehicles. The global fleet management system market has also been witnessing an increasing number of in-vehicle technologies. However, the increasing operating cost of vehicles could pose a challenge to the growth of thi
    Read More
  • Smart sensor technology predicted to drive global smart communities market until 2020
    April 12, 2016
    According to the latest research study released by Technavio, the global smart communities market is expected to grow at a CAGR of over 18 per cent until 2020. The report, Global Smart Communities Market 2016-2020, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments, including smart grids, smart community buildings, smart community transportation, and smart c
    Read More

Highlighted Content