The developments taking
place in the field of transportation and technology, coupled with the rising
incidents of traffic congestions and road accidents, has given rise to the
demand for an intelligent transport system (ITS). The purpose of an ITS is to
integrate real time information and provide it to the users, who can then make
careful decisions and make their travel plans accordingly.
The global market for ITS,
with demand coming from all countries worldwide, is estimated to grow with a
double digit CAGR estimated around 12.4% during 2012 – 2018. The application of
ITS is not limited to just road transport, but has widespread applications
across verticals such as military, rail, and air transport as well. Currently,
the demand of ITS is majorly driven by the road transport sector, due to
growing population and consequent sharp rise in number of vehicles
plying.
Also, the rising incidents
of accidents across all modes of transport, especially road and air transport,
is contributing to the need of immediate implementation of ITS. The populous
economies of China and India, which are also the fastest growing regions, are
some of the key markets for ITS.
Currently, ITS
applications are limited to developed countries, such as the UK, the U.S,
France, Australia, and Canada. Use of intelligent transport systems in military
has however been in existence for a long time and can be seen in many
countries, and is seeing gradual adoption across other transport mediums too.
The global market for ITS can be segmented based on parameters such as
technologies used and applications.
According to the different
technologies used in an ITS, the global market can be segmented into – CALM
(Continuous Air interface Long and Medium range) based ITS, DSRC (Dedicated
Short-Range Communications) based ITS, GPS (Global Positioning System) based
ITS, and others. The vehicle to vehicle (V2V) and vehicle to infrastructure
(V2I) communication is an improvisation of the existing technologies.
The applications of ITS is
vast and has further scope of development, depending on the technological
advancements made. Currently, the applications of ITS are as follows – parking,
traffic signal control system, advance collision warning system, advanced
traffic information system, advanced cameras for traffic enforcement, dynamic
traffic light systems, fleet management systems, and many more. All these
systems and applications are used for varying functions such as – for providing
traveler information, traffic management and monitoring, public transport
management and monitoring, commercial vehicle operations, transport pricing
system, parking management, and for emergency rescue operations.
The scope of market growth
for ITS is, however, high across all regions, developed or developing, as both
are still looking for solutions to address their growing transport networks.
The global ITS market has many manufacturers across different verticals. Among
key technology software and hardware providers, the renowned names are – Cisco,
Siemens, Intel, Worldsensing, IBM, Iteris, and many more.
This research report
analyzes this market depending on its market segments, major geographies, and
current market trends. Geographies analyzed under this research report
include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides
comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming
years
This report is a complete
study of current trends in the market, industry growth drivers, and restraints.
It provides market projections for the coming years. It includes analysis of
recent developments in technology, Porter’s five force model analysis and
detailed profiles of top industry players. The report also includes a review of
micro and macro factors essential for the existing market players and new
entrants along with detailed value chain analysis.
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