Intelligent Transport Systems (ITS) Market in North America 2015-2019
About Intelligent Transport Systems (ITS)
An ITS is a sophisticated application, which provides solutions related to various modes of transport and traffic management. It allows commuters to be informed about the traffic situation, and enhances road safety. The traffic management process is also streamlined with the optimization of quality, and the reduction in time required for implementation of decisions as well as in costs incurred. The various types of ITS include ATMS, road user charging, ETC, public transport ITS, freight and commercial ITS, security and crime reduction ITS, road safety systems, ITS communications, and automotive and infotainment telematics. These solutions are mostly used by governments, municipal authorities, and the construction sector, to handle congestion, prevent accidents, detect the location of vehicles, and also to check vehicle emission levels.
Technavio analysts forecast the ITS Market in North America to grow at a CAGR of 6.49%, in terms of revenue, during 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the ITS Market in North America for the period 2015-2019. The market covered in the report includes roadway transportation only. To calculate the market size, we consider revenue generated from the sales of ITS products. We also present the vendor landscape and a corresponding detailed analysis of the top five vendors in the ITS Market in North America.
The Technavio report, namely ITS Market in North America 2015-2019, is based on an in-depth market analysis, with inputs from industry experts. We discuss the major drivers influencing market growth and also the challenges facing the vendors and the market as a whole. We evaluate the key trends emerging in the market as well.
The ITS Market in North America is segmented on the basis of its product type:
Technavio Announces the Publication of its Research Report – Intelligent Transport Systems (ITS) Market in North America 2015-2019
Technavio recognizes the following companies as the key players in the Intelligent Transport Systems Market in North America: Denso, KAPSCH, Q-Free, Thales and TransCore
Other Prominent Vendors in the market are: 3M, Addco, Agero, Grenobloise d'Electronique et d'Automatismes, Hitachi, International Road Dynamics, Lanner, Metro Infrasys , Mitsubishi Heavy Industries, Omron, Perceptics, SAIC, Savari, Sensys, TRMI Systems Integration, Watchdata and Xerox
Commenting on the report, an analyst from Technavio’s team said: “One of the key trends emerging in this market is the adoption of hybrid technology systems, which involve the combination of advanced technologies to produce an improved state-of-the-art application. GPS is coupled with DSRC, where GPS tracks the vehicle and DSRC accounts for the charges from the user's account. This helps in distance-based road charging. The adoption of these technologies can make toll collection systems, bridge and tunnel management systems, and public transport ITS more efficient.”
According to the report, the increasing need to reduce traffic congestion in metropolitan areas has led to the need to implement ITS solutions in North America. Congestion leads to slower vehicle speed, longer trip time, and increased vehicle queuing. Congestion charging through electronic road pricing can be done without stopping the vehicle and without any manual interference. The vehicle is fitted with a sensor that automatically collects and records the road use charge electronically. This helps in streamlining the flow of traffic. ALPR coupled with DSRC technologies are widely used for this.
Further, the report states that the ITS market in North America is capital-intensive in nature, which acts as a challenge to market growth.
Denso, KAPSCH, Q-Free, Thales, TransCore, 3M, Addco, Agero, Grenobloise d'Electronique et d'Automatismes, Hitachi, International Road Dynamics, Lanner, Metro Infrasys , Mitsubishi Heavy Industries, Omron, Perceptics, SAIC, Savari, Sensys, TRMI Systems Integration, Watchdata, Xerox
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