In the roadways intelligent transportation system market, the telecommunications network segment is expected to witness the highest growth over the forecast timeline. ITSs uses communication technologies to improve the connection between roadside equipment, vehicles, and stakeholders and also present opportunities to deliver reliable voice & data services to improve traffic flow. Thus, reliable communications systems are critical for monitoring and managing complex transportation infrastructure.
In the railways intelligent transportation system market, the demand for real-time passenger information systems is expected to exhibit accelerated growth from 2019 to 2025. These systems provide real-time information such as news broadcast, entertainment, scheduling, and emergency communication services to passengers through voice or visual, thus increasing the traveling comfort for them. The widespread implementation of smart passenger information systems to provide instant information to commuters will drive the railways intelligent transportation system market growth.
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The information display system in the airways intelligent transportation system market is expected to hold a significant market share of over 20% in 2025. As airport environments are becoming more complex, flight-related & operational information needs to be obtained quickly. Thus, smart display systems are widely used in airports as they store, process, and transfer flight-related information to passengers and airport authorities. With companies rapidly developing these information systems to provide real-time information to keep the passengers updated, the demand for airways ITS will increase in the near future.
The robust proliferation of the Internet of things, big data, analytics, and mobile technology has positively impacted the growth of intelligent transportation system market since the last half a decade or so. The automotive industry in particular, which is expanding at an unprecedented pace, has come up to be a technologically revolutionized industry sphere. With the growing number of vehicles, there has been an immense demand for road safety and traffic management to enhance user travel experience. This rising demand to improve transport efficiency has undeniably influenced the expansion of the global intelligent transport system market.
Traffic management has been a major challenge due to the growing number of vehicles and multimodal transport. The demand for safety, operational performance and transport efficiency is thus majorly driving the demand for intelligent transportation system market. Moreover, rising environmental concerns as a result of pollutant emission and depleting fuel resources is also fueling the growth of ITS market to enable congestion free transport.
The Asia Pacific intelligent transportation system market is expected to witness the highest growth rate of over 6% from 2019 to 2025. The emergence of smart mobility technologies and financial support provided by the government to establish smart transportation infrastructure is expected to bolster the adoption of intelligent transport solutions. For instance, in August 2016, the South Korean government planned to build a network of smart expressways by 2020 to limit traffic congestion. The government planned to invest USD 33.1 billion and raise USD 31.3 billion through private investments to finance its plan of installing a smart toll system.
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The robust implementation of the intelligent transport system in the automotive as well as other transportation sectors such as airways, railways, and maritime, will positively impact the commercialization graph of the overall intelligent transportation system market. The system is not just a software solution, but is indeed a much wider concept. The data collected by the deployment of ITS can be a major asset for the transportation industry, enabling manufacturers to get a detailed insight about their vehicle performance in various environments. Armed with a vision that targets ‘smart transport’, ITS market is all set to experience a remarkable rise in the coming years.
Glimpse of Table of Content (ToC)
Chapter 3. Intelligent Transportation System Market Insights
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
3.8. Regulatory landscape
3.8.1. Automated Driving Systems 2.0: A Vision for Safety (U.S.)
3.8.2. Automated Vehicles 3.0, NHTSA
3.8.3. EU Directive 2010/40/EU for Intelligent Transport Systems (ITS)
3.8.4. EU Regulation No 454/2011 (Rail)
3.8.5. German Road Traffic ACT Amendment 17, 2018
3.8.6. EU Regulations for access to car data
3.8.7. Transport Act 2000
3.8.8. ICV Guidelines, China
3.8.9. Bharat Stage emission standards (India)
3.8.10. Cybersecurity standards for autonomous vehicles (Dubai)
3.8.11. AS 7770 Rail Cyber Security Standard (Australia)
3.9. Industry impact forces
3.9.1. Growth drivers
220.127.116.11. Growing adoption of automotive IoT
18.104.22.168. Need for efficient traffic control
22.214.171.124. Rapid urbanization and government investment in smart transportation
126.96.36.199. Increasing investment in railway infrastructure
188.8.131.52. Health, safety, and environmental benefits
184.108.40.206. Rapidly increasing vehicle demand and production
3.9.2. Industry pitfalls and challenges
220.127.116.11. Safety and security concerns related to connected cars
18.104.22.168. High installation cost
22.214.171.124. Increased data complexity issues
3.10. Porter’s analysis
3.10.1. Threat of new entrants
3.10.2. Threat of substitutes
3.10.3. Bargaining power of buyer
3.10.4. Bargaining power of supplier
3.10.5. Industry rivalry
3.11. PESTEL analysis
3.12. Growth potential analysis
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