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

  • Five million fleet management systems in Europe by 2015
    April 23, 2012
    According to a new research report from the analyst firm Berg Insight, the number of active fleet management systems deployed in commercial vehicle fleets in Europe was two million in Q4-2010. Growing at a compound annual growth rate (CAGR) of 20.7 per cent, this number is expected to reach five million by 2015.
    Read More
  • Do we need a new approach to ITS and traffic management?
    January 31, 2012
    In an article which has implications for the European Electronic Toll Service, ASECAP's Kallistratos Dionelis asks whether the approach we currently take to major ITS system implementations is always the best or healthiest. I was asked recently to write a paper on the technology-oriented future of transport. To paraphrase, I started with: "The goal of European policy-makers is to establish a transport system which meets society's economic, social and environmental needs, satisfying in parallel a rising dema
    Read More
  • Around 420 million connected cars expected on the road in 2018
    May 9, 2014
    According to French think tank IDATE, there will be 420 million connected cars on the road by 2018, compared to 45 million in 2013, an annual growth of 57 per cent. IDATE attributes the development of the market to European safety regulations and manufacturers looking to identify new sources of revenue.
    Read More
  • Eurosmart and Orange set the tone for CARTES Opening Summit
    October 28, 2014
    Industry leaders will explore the macro trends behind tomorrow’s innovations in the payment, identification and mobility ecosystems during the prestigious Opening Summit, which will launch CARTES SECURE CONNEXIONS
    Read More

Highlighted Content