Global Intelligent Transportation Systems (ITS) Market, by Type ((Advanced Transportation Management Systems Market (ATMS), Advanced Traveler Information Systems (ATIS), Advanced Transportation Pricing Systems (ATPS), Co-operative Vehicle Systems, Advanced Public Transportation Systems (APTS), and automatic Number Plate Recognition Systems (ANPR)), by Application (Traffic Management, Road Safety and Surveillance, Freight Management, Public Transport, Automotive Telematics, Automated Vehicles, Environment Protection, Road User Charging, Parking Management)- Global Insights, Trends and Forecast, 2017-2025

Created On: Jun-2018
Report ID: IR109
Format: PDF

Market Introduction

The demand for intelligent transportation systems have surged over the past few years, especially in the populated countries such as the U.S., and China among others owing to the heightened need for proper traffic management. As of 2018, the U.S. is ranked as the world leader in traffic jams with Los Angeles, New York, and San Francisco topping the charts. In 2017, According to Insights and Reports heightened traffic congestion in the U.S. cost the drivers and motorists more than US$ 290 billion, averaging US$ 1,380 per driver. The expense is attributed to the amount of time spent in the traffic, paying for extra fuel, and higher delivery spending for goods among others. These factors are some of the key reasons fuelling market growth of intelligent transportation systems in the country.

Market Dynamics

Rising traffic congestion is one of the key factors aiding to the growth of the intelligent transportation systems market at present. The highly populated countries such as the U.S., China, and India among others are most susceptible to traffic congestions. According to Insights and Reports, India loses more than US$ 15 billion annually to traffic congestion, with New Delhi being the largest contributor to the same. The city lost close to US$ 10 billion to traffic congestion in 2017. The cost is calculated on the basis of fuel burnt, loss of productivity which is inclusive of man-hours, pollution, opportunity costs and accidents. These factors are highly responsible for the high demand for intelligent transportation systems in the country. Other factors fuelling the demand for intelligent transportation systems include rising government initiative regarding public safety, development of smart cities across the globe and various others.

However, high costs associated with the installation of such systems is one of the key factors barring the growth of the intelligent transportation systems market at present. However, the development of smart vehicles compatible with intelligent transportation systems is expected to act as a suitable opportunity for the growth of the market in the future.

Market Segmentation and Analysis

Based on type, the intelligent transportation systems market has been segmented into advanced transportation management systems market (ATMS), advanced traveler information systems (ATIS), advanced transportation pricing systems (ATPS), co-operative vehicle systems, advanced public transportation systems (APTS), and automatic number plate recognition systems (ANPR). Advanced traveler information systems is expected to exhibit a significant growth throughout the forecast period on account of rising demand for traffic control solutions across the highly populated cities.

Based on application, the intelligent transportation systems market has been classified into traffic management, road safety and surveillance, freight management, public transport, automotive telematics, automated vehicles, environment protection, road user charging, and parking management.

Geographical Outlook

On the basis of regions, the intelligent transportation systems market has been classified into North America, Europe, Asia Pacific, Middle East, Africa and Latin America. North America led the market in 2016 and is expected to retain market dominance throughout the forecast period as well.

Asia Pacific is expected to exhibit the fastest growth during the forecast period. India and China are the most populated countries in the region and globally. According to Insights and Reports, in India more than 125,000 people die each year due to road accidents. This major concerning factor has led the government to implement stringent measures to ensure public safety, which in turn is rapidly fuelling the market for intelligent transportation systems market in the country.

Competition Landscape

Some of the key players operating in the field of intelligent transportation systems include Hitachi Ltd., Siemens A.G., Garmin International, TomTom N.V., and Thales Group among others.

Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
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