The intelligent transportation system (ITS) market in roadways is expected to be worth USD 23.35 Billion in 2018 and USD 30.74 Billion by 2023, growing at a CAGR of 5.65% between 2018 and 2023.
The major drivers for the market include increasing concerns related to public safety, increasing traffic congestion problem, and favorable government initiatives for effective traffic management.
Hardware offering is expected to lead the overall ITS market in roadways. The large market size for hardware is owing to the implementation of numerous heterogeneous devices, including cameras, sensors, intelligent traffic management systems, and advanced traveler information systems across the ITS infrastructure of any region. In addition, these high-end systems are synchronized to respond in real time; hence, these are likely to need frequent software updates, thereby increasing the operational cost.
The market for commercial vehicle operation (CVO) systems is expected to grow at the highest CAGR during the forecast period. The increasing demand for the expansion of transportation networks and growth in the logistics sector are the key reasons for the growth of the commercial vehicle operation system market.
On the basis of application, the intelligent traffic control application held the largest share in 2017. This involves a much closer interaction between all of its constituents: drivers, pedestrians, public transportation, and traffic management systems. Adaptive signal systems, driver advisory and route planning, and automated vehicles are some of the goals set up to increase the efficiency of actual systems.
The intelligent transportation system market is largely dominated by North America and Europe because of the strong presence of key players offering ITS products in these regions. North America held the largest share of the global ITS market in 2017, while APAC is the most promising region for the ITS market, and the market in APAC is expected to witness the highest CAGR because of the increasing number of megacities and the growing population in developed and developing countries.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Major Opportunities in the Intelligent Transportation System Market 4.2 Intelligent Transportation System Market for Roadways, By Offering 4.3 Intelligent Transportation System Market for Roadways in APAC 4.4 North America Held Largest Share of Intelligent Transportation System Market for Roadways in 2017 4.5 Intelligent Transportation System Market for Railways, By Application
5 Market Overview 5.1 Introduction 5.2 Market Dynamics for ITS in Roadways 5.2.1 Drivers 188.8.131.52 Increasing Concerns Related to Public Safety 184.108.40.206 Increasing Traffic Congestion Problem 220.127.116.11 Favorable Initiatives Taken By Government for Effective Traffic Management 18.104.22.168 Increasing Concerns Toward Protecting Environment With Ecofriendly Automobile Technology 22.214.171.124 Development of Smart Cities Across the World 5.2.2 Restraints 126.96.36.199 High Expenses Associated With ITS Installation 188.8.131.52 Relatively Slow Growing Infrastructure Sector 5.2.3 Opportunities 184.108.40.206 Designing and Developing Smart Vehicles Compatible With ITS 220.127.116.11 Increasing Public-Private Partnerships (PPPs) 18.104.22.168 Increasing Number of Economically and Technologically Developing Countries 5.2.4 Challenges 22.214.171.124 Achieving Interoperable and Standard ITS Architecture 5.3 Market Dynamics for ITS in Railways 5.3.1 Drivers 126.96.36.199 Increasing Concerns Regarding Security and Surveillance 188.8.131.52 Increasing Number of Railway Accidents 5.3.2 Restraints 184.108.40.206 Relatively Slow Growing Railway Infrastructure 5.3.3 Opportunities 220.127.116.11 Availability of Diverse Services and Solutions 5.4 Market Dynamics for ITS in Aviation 5.4.1 Drivers 18.104.22.168 Growing Focus on Efficient Airline Operations 22.214.171.124 Increasing Concerns for Conservation of Environment 5.4.2 Restraints 126.96.36.199 Lack of Funding and Synchronization Among Agencies 5.4.3 Opportunities 188.8.131.52 Industry Goals and Initiatives Taken to Reduce Co2 Emission 5.5 Market Dynamics for ITS in Maritime 5.5.1 Drivers 184.108.40.206 Improving Maritime Logistics Infrastructure 5.5.2 Restraints 220.127.116.11 Inappropriate Coordination Among Authorities for Integration and Information Exchange 5.5.3 Opportunities 18.104.22.168 Enhancement of Information and Communication Technologies 5.6 Value Chain Analysis
6 ITS Market, By Protocol 6.1 Introduction 6.2 Short Range 6.2.1 Wave (IEEE 802.11) 6.2.2 Wpan (IEEE 802.15) 6.3 Long Range 6.3.1 Wimax (IEEE 802.11) 6.3.2 Ofdm 6.4 IEEE 1512 6.5 Traffic Management Data Dictionary (TMDD) 6.6 Others
7 ITS Market for Roadways, By Offering 7.1 Introduction 7.2 Hardware 7.2.1 Interface Board 22.214.171.124 Multifunctional Board 126.96.36.199 Vehicle Detection Board 188.8.131.52 Communication Board 7.2.2 Sensor 184.108.40.206 Vehicle Detection Sensor 220.127.116.11 Pedestrian Presence Sensor 18.104.22.168 Speed Sensor 7.2.3 Surveillance Camera 22.214.171.124 Thermal Camera 126.96.36.199 Aid Camera 7.2.4 Telecommunication Network 188.8.131.52 Fiber Optics 184.108.40.206 Copper Line 220.127.116.11 Wireless Media 7.2.5 Monitoring and Detection System 18.104.22.168 Automatic Number Plate Detection 22.214.171.124 Intelligent Traffic Controller 7.2.6 Others 126.96.36.199 Linked Traffic Controller 188.8.131.52 Variable Message Sign 7.3 Software 7.3.1 Visualization Software 7.3.2 Video Detection Management Software 7.3.3 Transit Management System 7.3.4 Others 7.4 Services 7.4.1 Business and Cloud Services 7.4.2 Support and Maintenance Services
8 ITS Market in Roadways, By System 8.1 Introduction 8.2 Advanced Traffic Management System (ATMS) 8.3 Advanced Traveler Information System (ATIS) 8.3.1 Vehicle-To-Vehicle (V2V) and Vehicle-To-Infrastructure (V2I) Communication 8.4 ITS-Enabled Transportation Pricing System 8.5 Advanced Public Transportation System (APTS) 8.6 Commercial Vehicle Operation
9 ITS Market for Roadways, By Application 9.1 Introduction 9.2 Fleet Management and Asset Monitoring 9.3 Intelligent Traffic Control 9.3.1 Traffic Monitoring 9.3.2 Traffic Signal Control 9.3.3 Traffic Enforcement Cameras 9.3.4 Variable Traffic Message Sign 9.4 Collision Avoidance 9.5 Parking Management 9.6 Passenger Information Management 9.7 Ticketing Management 9.8 Emergency Vehicle Notification 9.9 Automotive Telematics
10 ITS Market for Railways, By Application 10.1 Introduction 10.2 Rail-Running Operation and Collision Avoidance 10.3 Passenger Information Management 10.4 Smart Ticketing 10.5 Security and Surveillance 10.6 Emergency Notification 10.7 Others
11 ITS Market for Aviation, By Application 11.1 Introduction 11.2 Security and Surveillance 11.3 Shuttle Bus Tracking 11.4 Traveler Information 11.5 Smart Ticketing 11.6 Aircraft Management 11.7 Emergency Notification 11.8 Others
12 ITS Market in Maritime, By Application 12.1 Introduction 12.2 Freight Arrival and Transit 12.3 Real-Time Weather Information 12.4 Scheduling of Container Movement 12.5 Emergency Notification 12.6 Others