Skip to main content

Ten per cent growth expected in global ITS market

According to the latest research by Research and Markets, the global intelligent transportation systems (ITS) market is poised to grow at CAGR of over 10 per cent during 2015-2020. The report, Global Intelligent Transportation Systems Market by System, by Application and Competition Forecast and Opportunities, 2010-2020, says that, with the market being too fragmented, a large number of players are engaged in offering ITS solutions across the globe.
February 5, 2016 Read time: 2 mins
According to the latest research by 7527 Research and Markets, the global intelligent transportation systems (ITS) market is poised to grow at CAGR of over 10 per cent during 2015-2020.

The report, Global Intelligent Transportation Systems Market by System, by Application and Competition Forecast and Opportunities, 2010-2020, says that, with the market being too fragmented, a large number of players are engaged in offering ITS solutions across the globe.

596 Thales, 4186 Xerox, and 378 Cubic are few of the leading players operating in the market. In 2014, Americas accounted for the largest share in the global ITS market, followed by Europe, Asia-Pacific and Middle East and Africa. However, Asia-Pacific offers huge future growth opportunities for ITS deployments, and consequently, is expected to outperform the broader market. Rising concerns associated with vehicular emissions are also influencing ITS strategic plan of various major economies, and this is expected to have a positive impact on global ITS market during the forecast period.

Increasing vehicle density, need to reduce traffic congestion and increasing investment by various governments is fuelling the deployment of ITS. With continuing innovations in the transportation sector, the global ITS market is expected to witness increasing adoption of various intelligent transportation systems across various application areas such as fleet monitoring, tolling management, ticket management, transportation pricing, traffic monitoring, etc.

However, sluggish growth in global infrastructure, coupled with high installation costs, is a few of the factors restricting the growth of global ITS market. Such limitations can be overcome with public private partnerships focusing on boost development efforts and adoption of this technology.

For more information on companies in this article

Related Content

  • US transportation 'needs political leadership'
    November 9, 2012
    Long-time industry leader John Worthington reflects on where transportation in the US is heading – and where it should be going. Interview with Jason Barnes. The US’s new transportation bill reflects much of what is wrong in the sector in general and in ITS in particular, according to John Worthington. While a decision is welcome, he says, it does little more than provide certainty of funding for anything other than day-to-day operations. Worthington, former Chairman and CEO of TransCore, is back in the ITS
  • Machine vision needs standards to fulfil ITS demands
    May 28, 2014
    No-one should expect the enabling qualities of machine vision to come free of charge but Jason Barnes finds there is still much that ITS stakeholders can do to help reduce costs. After many years of application in high-end solutions for the enforcement and tolling sectors, machine vision is gaining traction in more general areas of traffic management. Nevertheless, those OEMs producing transport-oriented solutions which incorporate machine vision and looking to increase the technology’s share of the ITS mar
  • European public transport market expected to reach US$1.9 billion by 2016
    October 25, 2012
    According to a new research report from analysts Berg Insight, the European market for ITS systems for public transport is in a growth phase which will last for several years to come and by 2016 the market value for ITS systems deployed in public transport operations in Europe is expected to reach US1.9 billion by 2016. The report claims the fluctuating economic climate has in most countries had little effect on the market as the public investments which underpin a major part of the ITS initiatives have rem
  • Norway continues to lead global electric vehicle market
    September 23, 2016
    Norway continues to lead the global market for electric vehicles, according to the most recent plug-in electric vehicle (PEV) index from IHS Automotive, part of business information provider IHS Markit. Plug-in electric vehicles are defined as either a pure Battery Electric Vehicle (BEV) or a Plug-In Hybrid Vehicle (PHEV). Based on analysis of new vehicle registrations during the first quarter 2016, one out of every three vehicles registered in Norway during the quarter was a plug-in electric vehicle, r