Intelligent Transportation System (ITS) Market, By Type (ATIS, ATPS, APTS, ATMS, EMS),) By Application (Road Safety & Security, Traffic Management, Freight Management, Public Transport) opportunities and forecast 2020-2026. The need for presenting the real-time traffic info to passengers and drivers is one of the main factors driving the demand for the market. Development in emergency services and traffic management empowers the authorities to quickly respond to the accidents and emergencies with more efficiency. Usage of such systems maximizes efficacy in shortens the travel duration and traffic management. The use of various public transportation results in reduction of airborne pollutants and the carbon dioxide emissions.
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Based on application, the ITS market can be categorised into traffic management, , freight management, environment protection, public transport, automotive telematics, road safety and security, road user charging, and parking management.
The U.S. traffic management segment is likely to command maximum market share from 2019 to 2025. ITS deployment is mainly driven by the government regulations in North America and Europe. Traffic Management Systems (TMS) operation performance and enhance reliability of road networks. They include the vehicle detection systems, ramp metering systems bridge traffic management systems, among others. Growing traffic jams result in traffic time, fuel wastage, and monetary losses. They adversely impact socio-economic development and growth of a country. Hence, traffic management systems are installed to minimize financial burden on transport authorities and governments.
Regional Overview
The U.S. Department of Transportation has been investing heavily in R and D, adoption, and the deployment of ITS across region. DOT and University of Michigan Transportation Research Institute directed a Safety Pilot Model Deployment in Michigan from the year 2015 to 2013 using DSRC-enabled apparatus in real world environment. Furthermore, in 2015, DOT declared that push towards mandating theV2V technology in U.S. for all the light vehicles based on the SPMD.
The economic benefits of various IT deployment are mainly notable in developing markets such as Russia, Brazil, India, South Africa, China, and (BRICS) nations. Cooperative and In-vehicle systems not only provide monetary benefits to the car owners but also assistance in avoiding jammed routes and reducing overall fuel consumption and the travel time. Car manufacturers in various established and emerging economies are fitting the systems in car models to discriminate their products from the competitors.
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Competitor overview
Key players in the market include Kapsch TrafficCom, Siemens AG, and Hitachi Ltd. This is largely on account of the diversified customer base and wide range of technologically advanced types employed in intelligent transportation system industry. Other noticeable vendors include Denso Corporation, Garmin International, Efkon Ag, and Lanner Electronics among others.
Key Players
- Agero, Inc.
- ADCCO LLC
- DENSO Corporation
- EFKON AG
- Hitachi Ltd.
- Garmin International, Inc.
- Iteris, Inc.
- Lanner Electronics, Inc.
- Nuance Communications, Inc.
- Ricardo PLC
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