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

  • ITS sector jumps to $120bn by 2025: report
    March 7, 2022
    New research from Argonaut International Consulting predicts four-year CAGR of 24.5%
    Read More
  • Automotive vehicle to everything (V2X) communications market 2016-2026
    June 20, 2016
    Research by Visiongain claims that the worldwide demand for connected cars is increasing at a rapid pace. Last year, the amount of customers willing to change the car brand for better connectivity has almost doubled. The willingness to pay the subscription for connected services went up by 10% in the same period. Chinese consumers are especially excited about car connectivity; more than half are willing to change their car for better connectivity. Visiongain assesses that sales of new passenger cars equi
    Read More
  • Europe to become the fastest growing market for ADAS
    December 7, 2012
    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
    Read More
  • The Asia-Pacific poses a multitude of ITS challenges
    May 30, 2014
    The Asia-Pacific ITS Forum and Exhibition in Auckland, New Zealand, provided a focus for the region’s ITS Associations. Mary Bell reports. In late April, ITS New Zealand hosted the 13th Asia-Pacific ITS Forum and Exhibition in Auckland. Around 350 delegates from 24 nations gathered to share and advance ITS applications on both strategic and technical levels and to discuss the differing and various challenges faced in the region.
    Read More

Highlighted Content