Global Intelligent Transportation Systems Products MarketSBI
February 1, 2011
140 Pages - SKU: SB2496797
Additional InformationIn the News
SOTU Lays Framework for Advances in American Transportation Infrastructure,
Transportation Systems toward a $14 Billion Industry by 2015
New York, January 31, 2011 — U.S. President Barack Obama’s January 25th State of the Union Address (SOTU) delivered a strong message about rebuilding America’s transportation network. "To attract new businesses to our shores, we need the fastest, most reliable ways to move people, goods, and information-from high-speed rail to high-speed Internet," the President remarked.
Over the past two years, the United States has implemented new construction projects for its roads and bridges, due in part to American Recovery and Reinvestment Act (ARRA) benefits, and has created thousands of jobs. In Tuesday’s speech, the President proposed to redouble these efforts.
"While the U.S. government support for Intelligent Transportation Systems (ITS), via federal funding and legislation, has been lagging, government involvement seems to be making a U-turn," reports analyst Darren Bosik, author of ‘Global Intelligent Transportation Systems Products Market,’ an SBI Energy publication.
The market research firm analyzed the opportunities and challenges facing the industry and forecasted double-digit growth in all facets of ITS manufacturing sectors in the U.S., particularly commercial vehicle screening and emergency response centers, through 2015. "With 2010 as the spending benchmark point, total cumulative spending on ITS technologies in the U.S. will grow to more than $14.5 billion through 2015," noted Shelley Carr, publisher for SBI Energy.
Through 2015, SBI Energy expects costs of ITS components to increase globally at a compound annual growth rate (CAGR) of 10%. The market research publisher attributes the moderate growth estimate in ITS product prices to a gradual rise in demand for ITS systems in regions that have committed to ITS deployment. In the U.S., for example, prices will rise considerably in roadside detection and control products as many states begin to assertively roll out ITS-enabled traffic management devices. The U.S. will continue to depend on imports of ITS products from Asia, and pay a premium for technology-heavy devices, such as sensors.
"Within 25 years, our goal is to give 80 percent of Americans access to high-speed rail. This could allow you to go places in half the time it takes to travel by car," President Obama projected in his speech. "For some trips, it will be faster than flying-without the pat-down. As we speak, routes in California and the Midwest are already underway."
The U.S., which has spent a sum total of $3.7 billion on ITS since 2006, has several ongoing ITS investment initiatives that have contributed to the accumulated outlay. Among the more notable are the following:
Dallas Area Rapid Transit is contributing $3 million and receiving $5.3 million from the U.S. Department of Transportation for using a transportation management model to predict travel conditions 30 minutes into the future. Travelers will be able to access real-time information about traffic, public transit and expected travel times, through wireless and Web-based alerts.
The San Diego Association of Governments will contribute $2.2 million and receive $8.7 million from the federal government for a project along Interstate 15 using a "smart" traffic management system combining road sensors, video and traveler information to take steps to reduce congestion. The system will deliver information to commuters via the Internet and message signs along the road. It will also enable managers to adjust traffic signals and ramp meters to direct travelers to high occupancy vehicle and high-occupancy toll lanes, bus rapid transit and other options.
Tennessee’s multimillion-dollar, eight-year expansion of Nashville’s traffic monitoring system, scheduled for completion this fall, seeks to double the number of overhead message boards and traffic cameras that warn motorists of problems ahead on the interstate.
A year ago the country’s Department of Transportation’s Research and Innovative Technology Administration’s (RITA) ITS Joint Program Office (JPO) unveiled a new, five-year ‘ITS Strategic Research Plan, 2010-2014.’ While the Strategic Plan represents an important step forward, the U.S. is still mired in ITS "research mode," rather than full-scale investment, construction, and deployment of ITS applications. With the additional push from the U.S. government, investments in ITS technologies will continue growth-speeding up job creation and economic recovery.
Global Intelligent Transportation Systems Products Market examines at length ITS applications, trends, technologies, product manufacturing and costs associated with this expansive industry-both domestically and internationally. The report forecasts market value through 2020, separating out spending on deployment, emergency response, and product and technology manufacturing. Further, the report divulges the competitive profiles of industry leaders including IBM, Efkon, Scania, Vitronic, Iteris, Moru Industrial, Sumitomo Electric, Traffic Data Systems, Telvent, Denso, Image Sensing Systems, and Kapsch.
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