How Will Burgeoning Demand For Real-Time Traffic Information Influence The Intelligent Transportation System (ITS) Market Outlook?

Higher funding for projects related to smart city development will create extensive acceptance of smart transportation solutions with the purpose of regulating city traffic flow. These solutions will facilitate better user access to transportation systems and will also accelerate the advancement of smart infrastructure.

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The burgeoning prevalence of IoT is supporting the automation of several transport sectors including airways, railways, roadways and maritime to enhance the commute experience through improved controls and operations, efficient traffic and passenger information management.

As per reports by Global Market Insights, Inc, the global intelligent transportation system (ITS) market is anticipated to exceed $34 billion by 2025.

Worsening road traffic conditions and the ensuing demand for innovations in traffic management are the key driving forces behind the intelligent transportation system market expansion. Emerging road accident cases across the globe are creating severe concerns for government authorities regarding road safety. The International Transport Forum’s Road Safety Annual report in 2017, stated that there was a 6.3% increase in U.S road fatalities from 2010 to 2016.

Likewise, the EU’s Annual Accident Report in 2017, claims that over 26,100 lives were lost and over 1.4 million left injured due to road traffic accidents in 2015.

To counteract these risks, government agencies across the globe are taking strong initiatives to improve road safety and reduce mishaps by implementing ITS networks across all major roadways.

With regards to the roadways intelligent transportation systems landscape, ATMS (Advanced Traffic Management Systems) accounted for over 34% of the market share in 2018, owing to the rising demand for better traffic management in major urban localities. ATMS systems work by receiving real-time data from traffic sensors deployed along the roadways and help develop efficient tactics for traffic management. Furthermore, the adoption of ATMS across the world is significantly escalated by the development of adaptive solutions for traffic control.

The operations and collision avoidance segment is estimated to account for an appreciable 30% of the railways intelligent transportation systems market share by 2025. The implementation of precursory safety measures can mitigate the threat of accidents caused due to various factors like signal jumping and over-speeding by train loco pilots, among others.

Collision incidents in cargo or passenger vehicles can cause large numbers of fatalities and severe economic losses. Installing automated systems for collision avoidance helps avoid the risk of human errors, resulting in better safety and preventing loss of lives.

The communication and networking systems segment is set to witness sizeable growth, depicting a CAGR of over 7% over 2019-2025.

The demand from air passengers for in-flight connectivity solutions like Wi-Fi is on the rise, driving airline companies to adopt cutting-edge technologies for better communication and networking infrastructure in their flights.

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Meanwhile, the information display system segment of the airways ITS market is projected to account for over 20% of the Intelligent Transportation System (ITS) Market share in 2025. The rising complexity of airport environments, quick access to operational and flight-related data becomes paramount. Smart display systems help to store, analyze and relay relevant real-time flight information to passengers and airport authorities alike through vast implementation throughout the airports.

Table of Contents (ToC) of the report:

Chapter 1. Methodology & Scope

1.1. Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope

1.1.5. Definition

1.1.6. Methodology and forecast parameters

1.2. Data Sources

1.2.1. Primary

1.2.2. Secondary Paid sources Public sources

Chapter 2. Intelligent Transportation System (ITS) Market Summary

2.1. ITS industry 360º synopsis, 2014 - 2025

2.2. Business trends

2.3. Regional trends

2.4. Mode of transport trends

2.4.1. Roadways trends System trends Component trends Application trends

2.4.2. Railways trends Component trends Application trends

2.4.3. Airways trends System trends Application trends

2.4.4. Maritime trends System trends Application trends

Chapter 3. Intelligent Transportation System (ITS) Market Insights

3.1. Introduction

3.2. Industry segmentation

3.3. Industry landscape, 2014-2025

3.4. ITS ecosystem analysis

3.4.1. Hardware component/ device providers

3.4.2. ITS solution providers

3.4.3. Network service providers

3.4.4. IT security service providers

3.4.5. Cloud service providers

3.4.6. System integrators

3.4.7. End users

3.5. ITS architecture

3.6. ITS evolution

3.7. Technology & innovation landscape

3.7.1. Artificial Intelligence

3.7.2. Connected vehicles

3.7.3. GPS

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