Intelligent Transportation Systems Market is expected to grow at a CAGR of 11.30% from 2014 to 2020

The five major ITS systems are mostly in demand and deployed in all across the globe; they are Advanced Traffic Management System (ATMS), Advanced Traveller Information System (ATIS), ITS Enabled Transportation Pricing System, Advanced Public Transportation System (APTS), and Commercial Vehicle Operation (CVO). In coming years, most of the toll collection booths on the newly developed highways and expressways will be installed with the ITS-enabled transportation pricing system. The Government of developed countries like the U.S., Germany, and developing countries like India, China,and so on are also taking various initiatives towards the deployment of the systems provided by the intelligent transport system market.

According to a new market research report of "Intelligent Transport Systems Market by 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" published by MarketsandMarkets, is expected to grow at a CAGR of 11.30% from 2014 to 2020 and reach $33.75 Billion in 2020.

Q-Free ASA (Norway) is one of the leaders in intelligent transportation systems. The company’s prime business is to develop and supply intelligent transportation systems-related products and solutions and has 30 years of experience in the ITS industry. The company has a specialty of covering the entire value chain of ITS market by providing products and integrating them with the solutions for commercial operation of the systems. It is a supplier of products and solutions for the applications like Electronic tolling system, Traffic management system, and Transportation management system and also provides some of the equipmentrelated to the intelligent transportation systems which includes on board units, optical character recognition and so on. The company is a leading international supplier of ITS products and gets many contracts from the companies and also acquires many companies such as Elcom (Serbian) and TCS International Inc. (U.S.) in order to increase its product portfolio by making expansions.

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TomTom NV (the Netherlands),is a prominent player in ITS industry. The company has a wide geographic reach and has its presence in Europe, North America, as well as in Australia, Brazil, Argentine, Morocco, New Zealand, South Africa, and Taiwan. The company’s business segments constitutes of automotive segment which comprise; high speed cameras, 3D navigation and advanced driver assistance system. The other segment is consumer segment which includes navigation products and renders real time services to end consumers through navigation devices, mobile phones or internet. The business solution segment of the company provides fleet management services, navigation products and solutions and also service related to telematics. The licensing segment involves selling of real time traffic services and navigation system to the smart phone manufacturers, enterprisesas well asgovernment. The company invests a huge amount in technologies like navigating devices and thereby, planning to stay competitive in the ITS industry.

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The America holds the major market share, followed by the Europe owing to the rapid development in their infrastructure. APAC market also constitutes a substantial market share in ITS. From these factors, it is believed that these markets will grow at a significant growth rate for the forecast period of 2014 to 2020.

The overall Global Intelligent Transport System is segmented into four major segments; namely components, system, application and geography. All the major segments are further segmented into sub segments. All the segments and sub segments are separately classified in the report. The Global Intelligent Transport System is expected to reach up to $33.75 billion by 2020, at an estimated CAGR of 11.30% from 2014 to 2020.

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.Download 

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.

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The major driving factors for the Intelligent Transport System are solution to traffic congestion and government support; public private partnership is the key to the success in implementing intelligent transportation system. In this report various new technologies like V2V and V2I communication system are discussed and it also include the prominent Architecture of ITS and insights of Standards used in Intelligent Transport System Market. The report forecasts the growth from 2014 to 2020, along with market size, list of leading players, the latest technology adoption, M&A s, and JV s of key players.

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