Intelligent Transportation System (ITS) Market Trends 2021 | Segmentation, Outlook, Industry Report to 2027

Intelligent Transportation System (ITS) is a software which aids in analyzing, controlling, detecting, and communicating with ground-level transport in order to improve safety, efficiency, and mobility. It includes a broad range of applications that help in sharing and processing information to ease congestion, minimize the impact on the environment and improve traffic management which increases the benefits of business users and the general public. In addition, it is a part of the Internet of Things that includes Vehicle-to-Infrastructure (V2I) and Vehicle-to-Vehicle (V2V) technology which incorporates both wireline and wireless communication-based information. The global ITS market is segmented on the basis of system type, and application. On the basis of system type, the market is sub-segmented into the advanced public transportation system, advanced traveler information system, advanced traffic management system, commercial vehicle operation, and ITS enabled transportation pricing system.

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Furthermore, ITS has a significant impact on transportation management such as traffic-signal coordination, traffic light cameras, electronic toll collection, transit signal priority, and traveler information systems. Moreover, growing concerns related to public safety and favorable initiatives taken by the government for effective traffic management are some of the factors which drive the ITS market. However, high costs associated with the installation of ITS is one of the factors which hinders market growth. The global ITS market is further expected to grow attributed to the implementation of various heterogeneous devices such as cameras, intelligent traffic management systems and sensors across the ITS infrastructure.

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Geographically, the market is segmented on the basis of major regions including North America, Europe, Asia-pacific and Rest of the world (RoW). North American is expected to have significant market value in the global ITS market due to availability of advanced infrastructure and increasing adoption of IoT sensor in various road transport applications such as smart parking, car navigation, and traffic management. For instance, in January 2017, Los Angeles installed a parking system to expand LA Express Park which is an application powered by the smart parking program to cover the city. This app will help in minimizing city traffic by providing real-time information to drivers about the availability of parking spaces. There are various companies operating in ITS market including FLIR Systems, Inc., Hitachi, Ltd., IBM Corp., Iteris, Inc., Advantech Co., Ltd., AECOM, Clever Devices Ltd., Cubic Corp., and Denso Corp. among others.

Market Segmentation

Global ITS Market by System Type
• Advanced Public Transportation System
• Advanced Traveller Information System
• Advanced Traffic Management System
• Commercial vehicle Operation
• ITS Enabled Transportation Pricing System

Global ITS Market by Application
• Freight Management
• Public Transport Management
• Automotive Telematics Management
• Parking Management
• Road Tolling Management
• Other (Ticket Management, Emergency vehicle Notification)

Regional Analysis
North America
• US
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World

Company Profiles
• Advantech Co., Ltd.
• AECOM
• Clever Devices Ltd.
• Cubic Corp.
• Denso Corp.
• Efkon GmbH
• ETA Transit
• FLIR Systems, Inc.
• Hitachi, Ltd.
• IBM Corp.
• Iteris, Inc.

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