Intelligent Transportation System (ITS) Market by Top Key Players: Thales, Kapsch TrafficCom AG, TomTom, Nuance Communications, Q-Free ASA, Denso, TransCore and Savari Inc.

The global intelligent transportation system (ITS) market is expected to increase from $18,210.2 million in 2014, and reach $38,013.2 million in 2020, with a CAGR of 13.1% during 2015-2020. The global ITS market is mainly driven by increasing traffic congestion. As the traffic congestion is increasing, people are facing more problems. Traffic congestion wastes time of passengers and leads to delay in reaching the workplace. The most effective solution to reduce traffic congestion is adopting intelligent transportation systems that manage the traffic system more effectively and efficiently. The intelligent transportation system market in Asia-Pacific is expected to witness the fastest growth with a CAGR of 14.1% during 2015 – 2020. This is due to supportive government initiative, towards the implementation of ITS across several developing countries in Asia-Pacific.

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The increasing environmental pollution is also supporting the growth of the global intelligent transportation system market. The intelligent transportation system is able to minimize the adverse environmental impacts on human health. The implementation of intelligent transportation system also leads to improvement in air quality. The environmental burden of new road infrastructure can be minimized with the help of intelligent transportation system, which manages the existing road network. Vehicle emissions can be reduced to a great extent by improving the traffic flow with the use of improved network management techniques, offered through the intelligent transportation system.

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The cooperative vehicle system accounts for the smallest share in the system segment of the global ITS market, however the category is expected to grow with the highest rate (13.7% CAGR) during the forecasted period. The highest growth rate of cooperative vehicle system is due to increasing need for improving energy efficiency of road transportation. During the previous years, the activities related to enhancement in cooperative vehicle system have increased considerably in Europe and Japan. This is because the trucks and automobiles in Europe and Japan are equipped with enhanced technologies.

MARKET SEGMENTATION

By System
Advanced Traffic Management System
Cooperative Vehicle System
Advanced Public Transportation System
Advanced Traveller Information System
Advanced Transportation Pricing Systems

By Application
Environment Protection
Public Transportation
Traffic Management
Road User Charging
Others

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The major companies operating in the intelligent transportation system market include Thales SA, Kapsch TrafficCom AG, TomTom International BV, Nuance Communications Inc., Q-Free ASA, Denso Corporation, Efkon AG, TransCore LP, and Savari Inc.

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