Intelligent Transportation Systems (ITS) Market, By Type (ATIS, ATMS, ATPS, APTS and Cooperative systems), By Application (Traffic management, Road safety and surveillance, Freight management, Public transport, Environment protection, Automotive telematics, Parking management and Road user charging), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027
Intelligent transportation system (ITS) is the application of sensing, control, analysis, communication and advanced technologies in order to improve safety, efficiency and mobility. These system can be used in different modes of transport such as roadways, railways, airways. ITS involves a wide range of applications including traffic management, ease congestion, minimizes environmental impact, and also increase the benefits of transportation to commercial users. Moreover, the growing adoption of data analytics techniques such as artificial intelligence and machine learning in order to improve efficiency in the organization is expected to drive market growth during the forecast period.
Growing traffic congestion is expected to drive market growth during forecast period. The deployment of intelligent transportation system (ITS) helps in providing real time traffic statistics and also helps in controlling growing traffic congestion concern. These intelligent signals gather information from sensor that quantify vehicle speed, traffic signal and traffic related information. Data received from sensor run through algorithm and send information back to the controller. The intelligent transportation system (ITS) is used to collect real-time traffic information helps in controlling traffic signals. The increase in the use of real time data helps in resolving traffic congestion issue and reduces chances of accidents. Moreover, increase in the adoption of IoT solutions for smart cities and transportation systems offer real time visibility and accurate data helps organizations to improve efficiency in developing smart cities.
Enhancement in existing performance of transportation networks is expected to drive growth of the global intelligent transportation systems (ITS) market during the forecast period. Transport plays a major role in a country’s economic and social development. Inadequate working of traffic signals and traffic incidents are major causes of all traffic jams and increased carbon emissions in urban and interurban networks. According to various, ITS associations such as ITS Canada, ITS Turkey, etc. advanced traffic management systems (ATMS) reduce the waiting time at a signal by 20% to 30% and the travel time by 25%, which in turn helps in saving a huge chunk of notified congestion. These systems also reduce greenhouse gas emissions such as carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O) etc. For every hour of delay time reduced in traffic, one lightweight vehicle can save 0.7 gallons of fuel and a truck can save 1.93 gallons. Therefore, these factors are expected to drive growth of the global intelligent transportation systems (ITS) market during the forecast period.
This report segments the global intelligent transportation systems (ITS) market on the basis of type, application and region. On the basis of type, the global Intelligent Transportation Systems (ITS) market is segmented o Advanced Traveler Information System (ATIS), Advanced Traffic Management System (ATMS), Advanced Transportation Pricing Systems (ATPS), Advanced Public Transport System (APTS), and Co-operative Vehicle Systems (CVS). on the basis of application, the market is segmented into, traffic management, road safety and surveillance, freight management, public transport, environment protection, automotive telematics, parking management, and road user charging. On the basis of region, the global intelligent transportation systems (ITS) market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
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