Intelligent transportation system (ITS) are systems that sense, analyse, control and communicate technologies among on road transportation, to improve mobility, safety and improve efficiency. ITS has many benefits, some of the main ones being ease of traffic congestion, better traffic management, reduce the harmful environment impact and grow benefits of transportation to everyone.
The market of Intelligent Transportation System is growing due to its feature of providing ease to travellers. The growing requirement for integrated smartphone systems in public transportations is growing due to safety issues of travelling people. The growing number of metro cities and overall population in both developing and developed nations have increased the importance of implementing the intelligent transport system (ITS). These systems basically contain all types of public transports systems viz rail and road. With the help of redeveloping the systems like carrier access for land mobiles (CALM), GPS, Dedicate Short Range Communication (DSRC) and so on. Across the globe, government officiation are aware of the importance and benefits of implementation of ITS. This has led to increased recommendation by government officials and resulting in market growth.
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To maintain uniformity the government departments are creating specific programs and further taking initiatives for implementation of these systems. Also, an effective transport system normally helps in controlling traffic congestions and improve overall environmental benefits by helping in keeping the pollution under control and these factors act as major market drivers. However, the major restraining factor is the overall slow-paced growth of infrastructure, mainly in developing countries of the world. Another factor is the large installation cost involved in the same. There is no set standard and guideline with respect to implementation of the systems. To help solve these challenges various key players and government organizations are coming with strategic partnerships.
The market is also governed by the development happening across the production of smart vehicles. These would operate on controlled roads and would work with state of art infrastructure with latest technologies.
The global intelligent transportation system is segmented because of application, type and region. Segmentation because of application is done as road safety, public transport, automotive telematics, traffic management, freight Management, environment protection, and others. Among these the freight management and road safety contribute to the maximum of market share. Based on type segmentation is done as Advanced Public Transportation System (APTS), Advanced Traveller Information System, Commercial Vehicle Operation and Vehicle-to-Vehicle Interaction, Advanced Traffic Management System, Vehicle-to-Infrastructure Interaction and ITS ? Enabled Transportation Pricing System. Geographically the market is segmented as Europe, Middle East, Asia-Pacific, Latin America, North America, and (ROW) Rest of the world. Based on region North America is growing at a fast pace and Asia-Pacific is predicted to grow due to increased development in the technology world.
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Key players of the market are Siemens, FLIR Systems, Thales, Denso and others. The report discusses all the factors that affect the growth of the global intelligent transportation system market. The report also gives an in-depth study of the strategies adopted by the various key players.