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Intelligent Transportation System Market - New Revenue Pockets
The Intelligent transportation system is the integration of information technology, communication systems and transport infrastructure. This system is implemented in order to have safe transportation, mobility and improve productivity of the transportation sector. In current scenario, Americas hold the largest share in the intelligent transportation system market which is mainly contributed by the U.S., followed by Canada and Mexico. APAC is expected to grow at a faster rate owing to the populationgrowth in urban areas which causes traffic congestion, rising income, and economic growth prevailing in the countries, in this region. In order, to reduce the traffic congestion problems and accidents,countries have started deploying intelligent transportation systems in the infrastructure.
The Advanced Transport Management System(AMTS) and ITS-Enabled Transport Pricing System(ETPS) are witnessing high demand among all other intelligent transportation systems. The advanced transport management system is basically useful to provide information to the drivers and traffic management centers to carry out traffic control, which helps in controlling the signals, speed control, high occupancy vehicle control and for incident management purposes. ITS-Enabled transportation pricing system is mainly used for electronic toll collection purpose, through which the drivers can pay tolls automatically through the on-board device. Other applications which are included in this segment are: congestion charging, fee high-occupancy toll lanes and vehicle-miles traveled usage fees.
Apart from, ATMS and (ETPS), the advanced public transportation system and advanced traveler information system is also witnessing significant growth in intelligent transportation system. Advanced public transportation system is used to retrieve real time status of public transit system, automatic vehicle location and monitoring, for electronic fare payment purposes for example: e-tickets. Advanced traveler information system have huge demand due to its features which includes; parking information, route guidance or navigation systems, weather information systems, and real time traffic information. Commercial vehicle operation presently generates the lowest revenue and has less demand as compared to the other four systems, but is estimated to grow at a higher growth rate. Commercial vehicle operation includes the operations related to moving freight and passengers in commercial vehicles and activities to regulate these operations in accordance with safety assurance, efficient fleet management, tax administration and smooth vehicle operations. This system is estimated to grow further because of huge technological changes, increase in goods and services with increase in population and thereby, increase in passengers.
Intelligent Transportation Systems Market by Component, Application, System (ATMS, ATIS, ITS- Enabled Transportation, Pricing System, APTS and CVO), by Component, Application and Geography (Americas, Europe, APAC, ROW) Analysis and Forecast to 2014 - 2020
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