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 America, Global Automakers respond to NHTSA's connected car ANPRM
    August 19, 2014
    ITS America and international motor vehicle manufacturers’ representative the Association of Global Automakers (Global Automakers) have responded to the US Department of Transportation's (DOT) National Highway Traffic Safety Administration (NHTSA) advance notice of proposed rulemaking (ANPRM) and a supporting comprehensive research report on vehicle-to-vehicle (V2V) communications technology. The report will include analysis of the Department's research findings in several key areas including technical
    Read More
  • Global intelligent transportation systems market forecasts to 2016
    March 14, 2014
    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
    Read More
  • Europe lagging behind on standard ESC deployment
    February 18, 2014
    According to Frost & Sullivan, the European Electronic Stability Control (ESC) market is expected to reach a market value of close to US$2.7 billion by 2020. Among the various original equipment manufacturers (OEMs), it is the upper tiers in the pyramid that attract maximum fitment rates, with the German big three claiming close to 100 per cent fitment across the eight segments they cater to. ESC is the most dominant enabler for active and passive safety technologies. Built into a car, it is crucial to a
    Read More
  • Russia invests in ITS technology
    May 11, 2012
    Russia’s transport systems are developing on a grand scale with ITS central to the plans, thanks in no small part to a recently relaunched ITS Russia. Jon Masters interviews the organisation’s chief executive officer Vladimir Kryuchkov Over coming years many of the biggest deployments of new technology for transport are likely to be seen in Russia. For a political and economic superpower, the world’s biggest country has only recently started to harness ITS for the good of its transport networks. But the sca
    Read More

Highlighted Content