HOME Top Market Reports Intelligent Transportation System Market by Offering, System (Advanced Traffic Management System, Advanced Traveler Information System, ITS-Enabled Transportation Pricing System), Application, and Geography - Global Forecast to 2023

Intelligent Transportation System Market by Offering, System (Advanced Traffic Management System, Advanced Traveler Information System, ITS-Enabled Transportation Pricing System), Application, and Geography - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: March 2018
Report Code: SE 2415

 

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The intelligent transportation system (ITS) market in roadways was valued at USD 21.88 Billion in 2017 and is expected to be worth USD 30.74 Billion by 2023, growing at a CAGR of 5.65% during the forecast period. The base year considered for this report is 2017, and the forecast period for the market has been considered between 2018 and 2023.

The objective of this report is to define, describe, and forecast the market size and growth potential of the ITS market in roadways across different segments such as offering, system, application, and geography. It includes the forecast of the market size, in terms of value, with respect to 4 regions North America, Europe, APAC, and RoW. The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and challenges for the market. It also profiles the key players operating in the ITS market. The growth of this market is driven by the factors such as increasing concerns related to public safety, increasing traffic congestion problem, and favorable government initiatives for effective traffic management.

The research methodology used to estimate and forecast the market begins by capturing the revenues of the key players and their shares in the market. A few organizations associated with the market include Intelligent Transportaion Society of America. Calculations based on this led to the overall market size. After arriving at the overall market size, the total market has been split into several segments and subsegments that have then been verified through primary research by conducting extensive interviews with industry experts such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of the primary respondents is depicted in the below figure:

Intelligent Transportation System Market

To know about the assumptions considered for the study, download the pdf brochure

The value chain of the overall ITS market includes various activities and factors that help achieve a high level of performance with respect to a service or a product. The key players operating across the value chain of the ITS market are Thales (France), Siemens (Germany), Garmin (Switzerland), Kapsch TrafficCom (Austria), TomTom (Netherlands), Cubic (US), Q-Free (Norway), EFKON (Austria), FLIR Systems (US), Denso (Japan), and so on.

Key Target Audience:

  • Component and equipment suppliers
  • Original equipment manufacturers (OEMs)
  • Original design manufacturers (ODMs)
  • Installers and maintenance service providers
  • Research organizations
  • Component integrators
  • Technology providers

Scope of the Report:

The ITS market has been covered in detail in this report. To provide a holistic picture, the current market demand and forecasts have also been included in the report. In this report, the market has been segmented as follows:

ITS Market in Roadways, by Offering:

  • Hardware
  • Software
  • Services

ITS Market in Roadways, by System:

  • Advanced Traffic Management System
  • Advanced Traveler Information System
  • ITS-Enabled Transportation Pricing System
  • Advanced Public Transportation System
  • Commercial Vehicle Operation

ITS Market in Roadways, by Application:

  • Fleet Management and Asset Monitoring
  • Intelligent Traffic Control
  • Collision Avoidance
  • Parking Management
  • Passenger Information Management
  • Ticketing Management
  • Emergency Vehicle Notification
  • Automotive Telematics

Geographic Analysis of the Global Intelligent Transportation System Market:

  • North America
  • Europe
  • APAC
  • RoW

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

  • Country-wise breakdown of all the regions by system

Company Information:

  • Detailed analysis and profiling of additional market players (up to 5 companies)

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of Study
    1.2 Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Market Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 List of Major Secondary Sources
                    2.1.1.2 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Interviews With Experts
                    2.1.2.2 Key Data From Primary Sources
                    2.1.2.3 Key Industry Insights
                    2.1.2.4 Breakdown of Primaries
           2.1.3 Secondary and Primary Research
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing Market Share By Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing Market Share By Top-Down Analysis (Supply Side)
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 31)

4 Premium Insights (Page No. - 37)
    4.1 Major Opportunities in the Intelligent Transportation System Market
    4.2 Intelligent Transportation System Market for Roadways, By Offering
    4.3 Intelligent Transportation System Market for Roadways in APAC
    4.4 North America Held Largest Share of Intelligent Transportation System Market for Roadways in 2017
    4.5 Intelligent Transportation System Market for Railways, By Application

5 Market Overview (Page No. - 41)
    5.1 Introduction
    5.2 Market Dynamics for ITS in Roadways
           5.2.1 Drivers
                    5.2.1.1 Increasing Concerns Related to Public Safety
                    5.2.1.2 Increasing Traffic Congestion Problem
                    5.2.1.3 Favorable Initiatives Taken By Government for Effective Traffic Management
                    5.2.1.4 Increasing Concerns Toward Protecting Environment With Ecofriendly Automobile Technology
                    5.2.1.5 Development of Smart Cities Across the World
           5.2.2 Restraints
                    5.2.2.1 High Expenses Associated With ITS Installation
                    5.2.2.2 Relatively Slow Growing Infrastructure Sector
           5.2.3 Opportunities
                    5.2.3.1 Designing and Developing Smart Vehicles Compatible With ITS
                    5.2.3.2 Increasing Public–Private Partnerships (PPPs)
                    5.2.3.3 Increasing Number of Economically and Technologically Developing Countries
           5.2.4 Challenges
                    5.2.4.1 Achieving Interoperable and Standard ITS Architecture
    5.3 Market Dynamics for ITS in Railways
           5.3.1 Drivers
                    5.3.1.1 Increasing Concerns Regarding Security and Surveillance
                    5.3.1.2 Increasing Number of Railway Accidents
           5.3.2 Restraints
                    5.3.2.1 Relatively Slow Growing Railway Infrastructure
           5.3.3 Opportunities
                    5.3.3.1 Availability of Diverse Services and Solutions
    5.4 Market Dynamics for ITS in Aviation
           5.4.1 Drivers
                    5.4.1.1 Growing Focus on Efficient Airline Operations
                    5.4.1.2 Increasing Concerns for Conservation of Environment
           5.4.2 Restraints
                    5.4.2.1 Lack of Funding and Synchronization Among Agencies
           5.4.3 Opportunities
                    5.4.3.1 Industry Goals and Initiatives Taken to Reduce Co2 Emission
    5.5 Market Dynamics for ITS in Maritime
           5.5.1 Drivers
                    5.5.1.1 Improving Maritime Logistics Infrastructure
           5.5.2 Restraints
                    5.5.2.1 Inappropriate Coordination Among Authorities for Integration and Information Exchange
           5.5.3 Opportunities
                    5.5.3.1 Enhancement of Information and Communication Technologies
    5.6 Value Chain Analysis

6 ITS Market, By Protocol (Page No. - 53)
    6.1 Introduction
    6.2 Short Range
           6.2.1 Wave (IEEE 802.11)
           6.2.2 Wpan (IEEE 802.15)
    6.3 Long Range
           6.3.1 Wimax (IEEE 802.11)
           6.3.2 Ofdm
    6.4 IEEE 1512
    6.5 Traffic Management Data Dictionary (TMDD)
    6.6 Others

7 ITS Market for Roadways, By Offering (Page No. - 57)
    7.1 Introduction
    7.2 Hardware
           7.2.1 Interface Board
                    7.2.1.1 Multifunctional Board
                    7.2.1.2 Vehicle Detection Board
                    7.2.1.3 Communication Board
           7.2.2 Sensor
                    7.2.2.1 Vehicle Detection Sensor
                    7.2.2.2 Pedestrian Presence Sensor
                    7.2.2.3 Speed Sensor
           7.2.3 Surveillance Camera
                    7.2.3.1 Thermal Camera
                    7.2.3.2 Aid Camera
           7.2.4 Telecommunication Network
                    7.2.4.1 Fiber Optics
                    7.2.4.2 Copper Line
                    7.2.4.3 Wireless Media
           7.2.5 Monitoring and Detection System
                    7.2.5.1 Automatic Number Plate Detection
                    7.2.5.2 Intelligent Traffic Controller
           7.2.6 Others
                    7.2.6.1 Linked Traffic Controller
                    7.2.6.2 Variable Message Sign
    7.3 Software
           7.3.1 Visualization Software
           7.3.2 Video Detection Management Software
           7.3.3 Transit Management System
           7.3.4 Others
    7.4 Services
           7.4.1 Business and Cloud Services
           7.4.2 Support and Maintenance Services

8 ITS Market in Roadways, By System (Page No. - 72)
    8.1 Introduction
    8.2 Advanced Traffic Management System (ATMS)
    8.3 Advanced Traveler Information System (ATIS)
           8.3.1 Vehicle-To-Vehicle (V2V) and Vehicle-To-Infrastructure (V2I) Communication
    8.4 ITS-Enabled Transportation Pricing System
    8.5 Advanced Public Transportation System (APTS)
    8.6 Commercial Vehicle Operation

9 ITS Market for Roadways, By Application (Page No. - 80)
    9.1 Introduction
    9.2 Fleet Management and Asset Monitoring
    9.3 Intelligent Traffic Control
           9.3.1 Traffic Monitoring
           9.3.2 Traffic Signal Control
           9.3.3 Traffic Enforcement Cameras
           9.3.4 Variable Traffic Message Sign
    9.4 Collision Avoidance
    9.5 Parking Management
    9.6 Passenger Information Management
    9.7 Ticketing Management
    9.8 Emergency Vehicle Notification
    9.9 Automotive Telematics

10 ITS Market for Railways, By Application (Page No. - 92)
     10.1 Introduction
     10.2 Rail-Running Operation and Collision Avoidance
     10.3 Passenger Information Management
     10.4 Smart Ticketing
     10.5 Security and Surveillance
     10.6 Emergency Notification
     10.7 Others

11 ITS Market for Aviation, By Application (Page No. - 100)
     11.1 Introduction
     11.2 Security and Surveillance
     11.3 Shuttle Bus Tracking
     11.4 Traveler Information
     11.5 Smart Ticketing
     11.6 Aircraft Management
     11.7 Emergency Notification
     11.8 Others

12 ITS Market in Maritime, By Application (Page No. - 108)
     12.1 Introduction
     12.2 Freight Arrival and Transit
     12.3 Real-Time Weather Information
     12.4 Scheduling of Container Movement
     12.5 Emergency Notification
     12.6 Others

13 Geographic Analysis (Page No. - 116)
     13.1 Introduction
     13.2 North America
             13.2.1 US
             13.2.2 Canada
             13.2.3 Mexico
     13.3 Europe
             13.3.1 UK
             13.3.2 Germany
             13.3.3 France
             13.3.4 Italy
             13.3.5 Spain
             13.3.6 Belgium
             13.3.7 Poland
             13.3.8 Denmark
             13.3.9 Austria
             13.3.10 Sweden
             13.3.11 Rest of Europe
     13.4 APAC
             13.4.1 China
             13.4.2 Japan
             13.4.3 South Korea
             13.4.4 India
             13.4.5 Australia
             13.4.6 Rest of APAC
     13.5 Rest of World (RoW)
             13.5.1 South America
             13.5.2 Africa
             13.5.3 Middle East

14 Competitive Landscape (Page No. - 135)
     14.1 Overview
     14.2 Market Ranking Analysis of Players, 2017
     14.3 Competitive Scenario
             14.3.1 Product Developments and Launches
             14.3.2 Partnerships, Contracts, Agreements, and Collaborations
             14.3.3 Acquisitions

15 Company Profile (Page No. - 141)
(Business Overview, Products and Solutions & Services Offered, Recent Developments, SWOT Analysis, and MnM View)*
     15.1 Key Players
             15.1.1 Thales
             15.1.2 Siemens
             15.1.3 Garmin
             15.1.4 Kapsch Trafficcom
             15.1.5 Tomtom International
             15.1.6 Cubic
             15.1.7 Q-Free
             15.1.8 Efkon
             15.1.9 Flir Systems
             15.1.10 Denso
     15.2 Key Innovators
             15.2.1 Geotoll
             15.2.2 Electricfeel
             15.2.3 Doublemap
             15.2.4 Bestmile
             15.2.5 Nutonomy
     15.3 Other Companies in ITS Market
             15.3.1 Iteris
             15.3.2 Ricardo
             15.3.3 Savari
             15.3.4 Transcore
             15.3.5 Lanner Electronics

*Details on Business Overview, Products and Solutions & Services Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

16 Appendix (Page No. - 181)
     16.1 Discussion Guide
     16.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     16.3 Introducing RT: Real-Time Market Intelligence
     16.4 Available Customizations
     16.5 Related Reports
     16.6 Author Details


List of Tables (65 Tables)

Table 1 ITS Market for Roadways, By Offering, 2015–2023 (USD Billion)
Table 2 ITS Market for Hardware in Roadways, By Component, 2015–2023 (USD Billion)
Table 3 ITS Market for Interface Boards in Roadways, By Subcomponent, 2015–2023 (USD Billion)
Table 4 ITS Market for Sensors in Roadways, By Subcomponent, 2015–2023 (USD Billion)
Table 5 ITS Market for Sensors in Roadways, By Subcomponent, 2015–2023 (Million Units)
Table 6 ITS Market for Surveillance Cameras in Roadways, By Subcomponent, 2015–2023 (USD Billion)
Table 7 ITS Market for Surveillance Cameras in Roadways, By Subcomponent, 2015–2023 (Million Units)
Table 8 ITS Market for Telecommunication Networks in Roadways, By Subcomponent, 2015–2023 (USD Billion)
Table 9 ITS Market for Monitoring and Detection Systems in Roadways, By Subcomponent, 2015–2023 (USD Billion)
Table 10 ITS Market for Other Hardware Components in Roadways, By Subcomponent, 2015–2023 (USD Billion)
Table 11 ITS Market for Software in Roadways, By Component, 2015–2023 (USD Billion)
Table 12 ITS Market in Roadways, By Service, 2015–2023 (USD Billion)
Table 13 ITS Market for Roadways, By System, 2015–2023 (USD Billion)
Table 14 ITS Market for Advanced Traffic Management Systems, By Region, 2015–2023 (USD Billion)
Table 15 ITS Market for Advanced Traveler Information Systems, By Region, 2015–2023 (USD Billion)
Table 16 ITS Market for ITS-Enabled Transportation Pricing Systems, By Region, 2015–2023 (USD Billion)
Table 17 ITS Market for Advanced Public Transportation Systems, By Region, 2015–2023 (USD Billion)
Table 18 ITS Market for Commercial Vehicle Operations, By Region, 2015–2023 (USD Billion)
Table 19 ITS Market for Roadways, By Application, 2015–2023 (USD Billion)
Table 20 ITS Market for Fleet Management and Asset Monitoring Applications, By Region, 2015–2023 (USD Million)
Table 21 ITS Market for Intelligent Traffic Control Applications, By Subsystem, 2015–2023 (USD Billion)
Table 22 ITS Market for Intelligent Traffic Control, By Region, 2015–2023 (USD Million)
Table 23 ITS Market for Collision Avoidance Applications, By Region, 2015–2023 (USD Million)
Table 24 ITS Market for Parking Management Applications, By Region, 2015–2023 (USD Million)
Table 25 ITS Market for Passenger Information Management Applications, By Region, 2015–2023 (USD Million)
Table 26 ITS Market for Ticketing Management Application, By Region, 2015–2023 (USD Million)
Table 27 ITS Market for Emergency Vehicle Notification Applications, By Region, 2015–2023 (USD Million)
Table 28 ITS Market for Automotive Telematics Applications, By Region, 2015–2023 (USD Million)
Table 29 ITS Market for Railways, By Application, 2015–2023 (USD Billion)
Table 30 ITS Market for Rail-Running Operation & Collision Avoidance Applications, By Region, 2015–2023 (USD Million)
Table 31 ITS Market for Passenger Information Management Applications, By Region, 2015–2023 (USD Million)
Table 32 ITS Market for Smart Ticketing Applications, By Region, 2015–2023 (USD Million)
Table 33 ITS Market for Security and Surveillance Applications, By Region, 2015–2023 (USD Million)
Table 34 ITS Market for Emergency Notification Applications, By Region, 2015–2023 (USD Million)
Table 35 ITS Market for Other Applications, By Region, 2015–2023 (USD Million)
Table 36 ITS Market for Aviation, By Application, 2015–2023 (USD Million)
Table 37 ITS Market for Security and Surveillance Applications, By Region, 2015–2023 (USD Million)
Table 38 ITS Market for Shuttle Bus Tracking Applications, By Region, 2015–2023 (USD Million)
Table 39 ITS Market for Traveler Information Applications, By Region, 2015–2023 (USD Million)
Table 40 ITS Market for Smart Ticketing Applications, By Region, 2015–2023 (USD Million)
Table 41 ITS Market for Aircraft Management Applications, By Region, 2015–2023 (USD Million)
Table 42 ITS Market for Emergency Notification Applications, By Region, 2015–2023 (USD Million)
Table 43 ITS Market for Other Applications, By Region, 2015–2023 (USD Million)
Table 44 ITS Market for Maritime, By Application, 2015–2023 (USD Billion)
Table 45 ITS Market for Freight Arrival and Transit Applications, By Region, 2015–2023 (USD Million)
Table 46 ITS Market for Real-Time Weather Information Applications, By Region, 2015–2023 (USD Million)
Table 47 ITS Market for Scheduling of Container Movement Applications, By Region, 2015–2023 (USD Million)
Table 48 ITS Market for Emergency Notification Applications, By Region, 2015–2023 (USD Million)
Table 49 ITS Market for Other Applications, By Region, 2015–2023 (USD Million)
Table 50 ITS Market for Roadways, By Region, 2015–2023 (USD Billion)
Table 51 ITS Market for Railways, By Region, 2015–2023 (USD Billion)
Table 52 ITS Market for Aviation, By Region, 2015–2023 (USD Billion)
Table 53 ITS Market for Maritime, By Region, 2015–2023 (USD Billion)
Table 54 ITS Market for Roadways in North America, By Country, 2015–2023 (USD Billion)
Table 55 ITS Market for Roadways in North America, By System, 2015–2023 (USD Billion)
Table 56 ITS Market for Roadways in Europe, By Country, 2015–2023 (USD Billion)
Table 57 ITS Market for Roadways in Europe, By System, 2015–2023 (USD Billion)
Table 58 ITS Market for Roadways in APAC, By Country, 2015–2023 (USD Billion)
Table 59 ITS Market for Roadways in APAC, By System, 2015–2023 (USD Billion)
Table 60 ITS Market for Roadways in RoW, By Country, 2015–2023 (USD Billion)
Table 61 ITS Market for Roadways in RoW, By System, 2015–2023 (USD Billion)
Table 62 Market Ranking for Intelligent Transportation System (ITS) Market, 2017
Table 63 Product Developments and Launches, 2015–2017
Table 64 Partnerships, Contracts, Agreements, and Collaborations, 2017
Table 65 Acquisitions, 2016-2017


List of Figures (70 Figures)

Figure 1 Research Design
Figure 2 Process Flow of Market Size Estimation
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Intelligent Transportation System Market, 2015–2023
Figure 7 Commercial Vehicle Operation in Intelligent Transportation System Market for Roadways Expected to Grow at Highest CAGR During Forecast Period
Figure 8 Intelligent Traffic Control Application Expected to Hold Largest Size of Intelligent Transportation System Market for Roadways in 2018
Figure 9 Aircraft Management Expected to Hold Largest Size of Intelligent Transportation System Market for Aviation in 2018
Figure 10 Freight Arrival & Transit Expected to Hold Largest Size of Intelligent Transportation System Market for Maritime in 2018
Figure 11 North America Held Largest Share of Intelligent Transportation System Market for Roadways in 2017
Figure 12 Lucrative Growth Prospects of Intelligent Transportation System Market
Figure 13 ITS Market for Software Expected to Witness Highest Growth CAGR During Forecast Period
Figure 14 Advanced Traffic Management System Held Largest Share of Intelligent Transportation System Market in APAC in 2017
Figure 15 US Dominated Intelligent Transportation System Market for Roadways in 2017
Figure 16 Intelligent Transportation System Market for Smart Ticketing Application to Grow at Highest CAGR During Forecast Period
Figure 17 Intelligent Transportation System: Market Dynamics for Roadways
Figure 18 Road Traffic Death Rates in Low-, Medium-, and High-Income Countries, in 2015
Figure 19 Intelligent Transportation System: Market Dynamics for Railway
Figure 20 Intelligent Transportation System: Market Dynamics for Aviation
Figure 21 Intelligent Transportation System: Market Dynamics for Maritime
Figure 22 Value Chain Analysis : Intelligent Transportation System Market
Figure 23 ITS Market: By Protocol
Figure 24 ITS Market for Roadways: By Offering
Figure 25 ITS Market for Software Expected to Grow at Highest CAGR During Forecast Period
Figure 26 ITS Market: Hardware Types
Figure 27 ITS Market for Communication Boards Expected to Grow at Highest CAGR During Forecast Period
Figure 28 ITS Market for Wireless Media Expected to Grow at Highest CAGR During Forecast Period
Figure 29 Intelligent Transportation System Market: Software Types
Figure 30 Video Detection Management Software to Hold the Largest Size in the Software Market During the Forecast Period
Figure 31 Intelligent Transportation System Market: By Services
Figure 32 ITS Market for Roadways: By System
Figure 33 Advanced Traffic Management System Expected to Hold Largest Size of ITS Market for Roadways During Forecast Period
Figure 34 North America Estimated to Hold Largest Size of ITS Market for Advanced Traffic Management Systems in 2018
Figure 35 ITS Market for ITS-Enabled Transportation Pricing Systems in APAC Expected to Grow at Highest CAGR Between 2018 and 2023
Figure 36 ITS Market for Roadways: By Application
Figure 37 Intelligent Traffic Control Application Expected to Hold Largest Size of ITS Market for Roadways and Expected to Continue During Forecast Period
Figure 38 ITS Market for Fleet Management and Asset Monitoring Applications in APAC Expected to Grow at Highest CAGR During Forecast Period
Figure 39 Types of Intelligent Traffic Control
Figure 40 Traffic Monitoring Application Expected to Hold Largest Size of ITS Market for Intelligent Traffic Control in 2018
Figure 41 North America Expected to Hold Largest Size of ITS Market for Ticketing Management in 2018
Figure 42 ITS Market for Railways: By Application
Figure 43 ITS Market for Smart Ticketing Applications Expected to Grow at Highest CAGR During Forecast Period
Figure 44 ITS Market for Rail-Running Operation and Collision Avoidance Applications in APAC is Expected to Grow at Highest CAGR During Forecast Period
Figure 45 ITS Market for Security and Surveillance Applications in APAC Expected to Grow at Highest CAGR During Forecast Period
Figure 46 ITS Market for Aviation: By Application
Figure 47 ITS Market for Smart Ticketing Applications Expected to Grow at Highest CAGR During Forecast Period
Figure 48 ITS Market for Smart Ticketing Applications in APAC Expected to Grow at Highest CAGR During Forecast Period
Figure 49 ITS Market for Maritime: By Application
Figure 50 Freight Arrival and Transit Application Expected to Hold the Largest Size of ITS Market for Maritime By 2023
Figure 51 ITS Market for Freight Arrival and Transit Applications in APAC Expected to Grow at Highest CAGR During Forecast Period
Figure 52 North America Expected to Hold Largest Size of ITS Market for Real-Time Weather Information Applications in 2018
Figure 53 North America to Hold Largest Size of ITS Market for Emergency Notification Applications During Forecast Period
Figure 54 ITS Market: By Region
Figure 55 Geographic Snapshot of ITS Market for Roadways (2018–2023)
Figure 56 North America: Snapshot of ITS Market for Roadways
Figure 57 Market Snapshot for Roadways: Europe
Figure 58 APAC: Snapshot of ITS Market for Roadways
Figure 59 RoW: Snapshot of ITS Market for Roadways
Figure 60 Growth Strategies Adopted By the Companies Over the Past Three Years (2015–2017)
Figure 61 Market Evaluation Framework: Contracts, Agreements, and Partnerships Fuelled Growth and Innovation Between 2015 and 2017
Figure 62 Thales: Company Snapshot
Figure 63 Siemens: Company Snapshot
Figure 64 Garmin: Company Snapshot
Figure 65 Kapsch Trafficcom: Company Snapshot
Figure 66 Tomtom International: Company Snapshot
Figure 67 Cubic: Company Snapshot
Figure 68 Q-Free: Company Snapshot
Figure 69 Flir Systems: Company Snapshot
Figure 70 Denso: Company Snapshot

According to the MarketsandMarkets forecast, intelligent transportation system (ITS) market in roadways is expected to be worth USD 23.35 Billion in 2018 and USD 30.74 Billion by 2023, growing at a CAGR of 5.65% between 2018 and 2023. The major drivers for the market include increasing concerns related to public safety, increasing traffic congestion problem, and favorable government initiatives for effective traffic management.

The report covers the ITS market in roadways on the basis of offering, system, application, and geography.

Hardware offering is expected to lead the overall ITS market in roadways. The large market size for hardware is owing to the implementation of numerous heterogeneous devices, including cameras, sensors, intelligent traffic management systems, and advanced traveler information systems across the ITS infrastructure of any region. In addition, these high-end systems are synchronized to respond in real time; hence, these are likely to need frequent software updates, thereby increasing the operational cost.

The market for commercial vehicle operation (CVO) systems is expected to grow at the highest CAGR during the forecast period. The increasing demand for the expansion of transportation networks and growth in the logistics sector are the key reasons for the growth of the commercial vehicle operation system market.

On the basis of application, the intelligent traffic control application held the largest share in 2017. This involves a much closer interaction between all of its constituents: drivers, pedestrians, public transportation, and traffic management systems. Adaptive signal systems, driver advisory and route planning, and automated vehicles are some of the goals set up to increase the efficiency of actual systems.

Intelligent Transportation System Market

The intelligent transportation system market is largely dominated by North America and Europe because of the strong presence of key players offering ITS products in these regions. North America held the largest share of the global ITS market in 2017, while APAC is the most promising region for the ITS market, and the market in APAC is expected to witness the highest CAGR because of the increasing number of megacities and the growing population in developed and developing countries.

Achieving interoperable and standard ITS architecture may appear as a challenge for manufacturers in ITS market. The major vendors in ITS Thales (France), Siemens (Germany), Garmin (Switzerland), Kapsch TrafficCom (Austria), TomTom (Netherlands), Cubic (US), Q-Free (Norway), EFKON (Austria), FLIR Systems (US), Denso (Japan), and so on. These players adopted various strategies such as product launches and developments, contracts, acquisitions, partnerships, and business expansions to cater to the needs of the market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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