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

  • ID: 4491149
  • Report
  • Region: Global
  • 191 Pages
  • Markets and Markets
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The ITS Market in Roadways is Expected to Be Worth USD 23.35 Billion in 2018 and USD 30.74 Billion By 2023, at a CAGR of 5.65% Between 2018 and 2023.

FEATURED COMPANIES

  • Bestmile
  • Doublemap
  • Flir Systems
  • Iteris
  • Nutonomy
  • Savari
  • MORE

“Intelligent transportation system (ITS) market in roadways is projected to grow at a CAGR of 5.65% between 2018 and 2023”

The growth of the overall market can be attributed to driving factors such as increasing concerns related to public safety, increasing traffic congestion problem, and favorable government initiatives for effective traffic management. However, high expenses associated with ITS installation and relatively slow growing infrastructure sector restrain the growth of the ITS market.

“Intelligent traffic control is the major application of ITS in roadways”

The intelligent traffic control application in roadways accounted for the largest share of the overall ITS market in 2017.  An intelligent traffic control 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.

“Advanced traffic management system accounted for the largest market size in 2017”

The advanced traffic management system accounted for the largest market size in 2017.  Advanced traffic management systems (ATMS) include ITS applications that focus on traffic control devices, such as traffic signals, ramp metering, and dynamic message signs on highways that provide drivers real-time messaging about traffic or highway status.

“ITS market in APAC to grow at the highest CAGR”

The demand for ITS in roadways is expected to highly increase in APAC in the near future, and the market in this region is estimated to grow at the highest CAGR during the forecast period. Increasing number of mega cities and growing population in developed and developing countries has increased the need for ITS. ITS involves the revamp of overall technological aspects such as GPS, carrier access for land mobiles, and dedicated short-range communication (DSRC).

In the process of determining and verifying the market size for several segments and subsegments obtained through secondary research, extensive primary interviews have been conducted with officials from the key players. The breakup of the profile of primaries has been given below:

  • By Company Type: Tier 1 = 25%, Tier 2 = 35%, and Tier 3 = 40%
  • By Designation: C-Level Executives = 35%, Directors = 25%, and Others = 40%
  • By Region: North America = 43%, Europe = 29%, APAC = 14%, and RoW = 14%

Companies that provide a range of customized solutions are expected to emerge as the game changers in this market.

The key players in the ITS market in roadways profiled in the report are as follows:
1. Thales (France)
2. Siemens (Germany)
3. Garmin (Switzerland)
4. Kapsch TrafficCom (Austria)
5. TomTom (Netherlands)
6. Q-Free (Norway)
7. Denso (Japan)
8. EFKON (Austria)
9. FLIR Systems (US)
10. Cubic (US)

Research Coverage:

In this report, segments such as offering, system, application, and geography have been covered. The report also discusses drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across 4 main regions: North America, Europe, APAC, and RoW. Value chain analysis have also been included in the report.

Reasons to Buy the Report:

  • This report includes statistics pertaining to the ITS market in roadways, by offering, system, application, and geography, along with market size of each subsegment.
  • Major drivers, restraints, opportunities, and challenges for the market have been provided in detail in this report.
  • This report would help stakeholders to understand their competitors better and gain more insights to enhance their company’s position in the market. The competitive landscape section includes competitor ecosystem and recent development strategies adopted by the key players in the market such as product launches and developments, partnerships, and mergers and acquisitions.
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FEATURED COMPANIES

  • Bestmile
  • Doublemap
  • Flir Systems
  • Iteris
  • Nutonomy
  • Savari
  • MORE

1 Introduction
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
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

4 Premium Insights
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
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
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
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
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
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
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
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
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
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
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
(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
16.1 Discussion Guide
16.2 Knowledge Store: 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

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Bestmile
  • Doublemap
  • Flir Systems
  • Iteris
  • Nutonomy
  • Savari
  • MORE

The 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.

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.

Note: Product cover images may vary from those shown
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  • Bestmile
  • Cubic
  • Denso
  • Doublemap
  • Efkon
  • Electricfeel
  • Flir Systems
  • Garmin
  • Geotoll
  • Iteris
  • Kapsch Trafficcom
  • Lanner Electronics
  • Nutonomy
  • Q-Free
  • Ricardo
  • Savari
  • Siemens
  • Thales
  • Tomtom International
  • Transcore
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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