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

  • Need for real-time traffic information systems on the rise
    March 11, 2015
    New analysis from Frost & Sullivan, Strategic Analysis of Real-time Traffic Information Market in Europe and North America, finds that the number of real-time traffic information subscribers in North America stood at 1.9 million units in 2014 and estimates this to reach 14.2 million in 2021. In Europe, the number is expected to go up from 2.2 million in 2014 to 10.2 million in 2021. With traffic expanding at three times the rate of the economy, the research says the need for intelligent systems like real-ti
    Read More
  • Co-operative infrastructure reduces congestion, increases safety
    January 30, 2012
    ITS Japan's Chairman Hiroyuki Watanabe talks to ITS International about his country's progress with cooperative infrastructures and how the experience gained to date can benefit similar initiatives elsewhere. Japan gave the rest of the world a taste of the cooperative infrastructure future when, in 1996, it went live with the Vehicle Information and Communication System (VICS). Designed to provide real-time traffic information and alerts to in-vehicle navigation systems with the dual aims of increasing safe
    Read More
  • Automotive navigation market to grow due to focus on autonomous cars, says report
    September 30, 2015
    The market for automotive navigation software, data, and location-based services is shifting as OEMs focus on bringing a mix of connected navigation experiences for drivers and using location data for ADAS and enabling self-driving cars, according to Strategy Analytics’ latest report. The report, Navigation Market: Maps for Self-Driving Cars Shift Segment's Focus - 2015 Update, features the service's most up-to-date navigation forecast, which is a combined figure that includes shipments of embedded navig
    Read More
  • Fleet management systems in the Americas ‘will exceed 13 million units by 2019’
    November 10, 2015
    According to a new research report from analyst firm Berg Insight, the number of active fleet management systems deployed in commercial vehicle fleets in North America was 4.7 million in the fourth quarter of 2014. Growing at a compound annual growth rate (CAGR) of 15.5 percent, this number is expected to reach 9.7 million by 2019. In Latin America, the number of active fleet management systems is expected to increase from 2.1 million in the fourth quarter of 2014, growing at a CAGR of 14.6 percent to re
    Read More

Highlighted Content