Intelligent Transportation Systems (ITS) Market for Railways to grow at over 6% CAGR over the forecast period

The information display system in the airways intelligent transportation systems (ITS) 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.

In the roadways intelligent transportation systems (ITS) 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 systems (ITS) 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 systems (ITS) market growth.

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In the maritime intelligent transportation systems (ITS) market, tracking and monitoring systems held a major market share of over 35% in 2018 and are expected to maintain a dominant position in 2025. Tracking and monitoring systems provide marine operators with valuable information for taking marine operational decisions in real-time. They deploy these systems to obtain real-time information on full wave water spectrum, including wind profiling, temperature, pressure, and humidity. As marine companies are widely using them to monitor the ship’s position, location, and other details, the demand for ITS in marine will increase over the forecast period.

The Asia Pacific intelligent transportation systems 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. 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. Some of the companies operating in intelligent transportation systems market are partnering with regional authorities for the implementation of smart transport solutions. The airport has deployed SmartGuide solutions with more than 450 vehicle sensors installed to sense the presence of cars.

Roadways ITS is expected to hold a majority share of the ITS market due to a growing number of vehicles, which has resulted in increased road traffic and congestion. A rise in the number of road fatalities has also contributed to the adoption of ITS solutions. According to the Annual Accident Report, 2017, by the European Union (EU), road traffic accidents in EU member states claimed 26,100 lives and left over 1.4 million people injured in 2015.

Some of the key vendors operating in the intelligent transportation systems (ITS) market include Advantech Co., Ltd., Bestmile SA, Clever Devices Ltd., Denso Corporation, EFKON AG, ETA Transit Systems, GMV Group, Hitachi, Ltd., Kapsch Trafficcom, Lanner Electronics, Moxa Inc., Nuance Communications, PTV Group, Q-Free ASA, Rhythm Engineering, Telegroup, Thales Group, TomTom N.V., Transmax Pty Ltd., Trapeze Group, WS Atkins PLC, and Xerox Corporation.