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Intelligent Transportation System Market with COVID-19 Impact Analysis by Offering, System (Advanced Traffic Management System, ITS-Enabled Transportation Pricing System, and Others), Application, and Geography - Global Forecast to 2025

July 2020 | 212 pages | ID: IE4AEB74032EN
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“Increasing concern toward public safety to drive market for roadways.”

The Intelligent Transportation System (ITS) market for roadways is expected to grow from USD 17.9 billion in 2020 to USD 36.5 billion by 2025, at a CAGR of 15.3%. The market growth can be attributed to several factors such as increasing concerns toward public safety, growing traffic congestion problems, rising favorable government initiatives for effective traffic management, increasing adoption of eco-friendly automobile technologies, and development of smart cities across the world. However, issues related to high installation cost and slow growing infrastructure sector are expected to hamper the growth of the market.

The recent COVID-19 pandemic is expected to impact the global ITS market. The manufacturing units are highly hampered due to worldwide lockdown and limited availability of labor and raw material. This has resulted in a delay in ongoing transport projects to a greater extent. Some experts argue that the governments may rethink on their recently announced transport project plans to curb traffic congestion.

“Software segment is expected to register the highest CAGR in the ITS market for roadways during the forecast period.”

Based on the offering, the ITS market for roadways has been divided into hardware, software, and services. The high growth rate of the software segment is attributed to the deployment of various advanced software solutions and complex algorithms to strengthen the overall information and communication systems.

“Advanced traffic management system (ATMS) application held the largest share of the ITS market for roadways in 2019.”

The largest market size of the advanced traffic management system is due to the increasing traffic congestion on roads across the world. Moreover, the rising numberof vehicles, due to the availability of favorable deals offered by the automobile manufacturers and changing lifestyles of people, are also leading to the rising traffic congestion. So, it is expected that the advanced traffic management system will be deployed significantly across the globe to address the growing traffic congestion.

“North America is expected to hold the largest share of the market during the forecast period”

The market in North America is expected to hold the largest share during the forecast period. The deployment of ITS to reduce traffic congestion and boost safety on roads is propelling the growth of the ITS market in North America. In addition, the development related to ITS deployment in North American countries—including the US and Canada—is also empowering the market in the region.

Breakdown of primary participants:
  • By Company Type: Tier 1 = 25%, Tier 2 = 35%, and Tier 3 = 40%
  • By Designation: C-Level Executives = 35%, Directors = 25%, and Others = 40%
  • By Region: Europe = 43%, APAC = 29%, North America = 14%, and RoW = 14%
Some of the major players in the ITS market include Thales Group (France), Siemens (Germany), Kapsch TrafficCom (Austria), Garmin (US), TomTom International BV (Netherlands), Cubic Corporation (US), Q-Free ASA (Norway), EFKON GmbH (Austria), FLIR Systems, Inc. (US), Indra Sistemas (Spain), and Denso Corporation (Japan).

Research Coverage:

In this report, the ITS market for roadways has been segmented on the basis of offering, system, application, and geography. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions—North America, Europe, APAC, and RoW. Value chain analysis has been included in the report, along with the key players and their competitive analysis in the ITS ecosystem.

Key Benefits to Buy the Report:
  • This report includes statistics for the ITS market for roadways based on offering, system, application, and geography, along with their respective market sizes.
  • Value chain analysis and key industry trends have been provided for the market.
  • Major drivers, restraints, opportunities, and challenges for the ITS market have been provided in detail in this report.
  • This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the market. The competitive landscape section includes the competitor ecosystem and the recent development strategies adopted by the key players in the market, such as product launches and developments, partnerships, and acquisitions.
1 INTRODUCTION

1.1 STUDY OBJECTIVES
1.2 DEFINITION AND SCOPE
  1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
  1.3.1 MARKETS COVERED
  FIGURE 1 MARKET SEGMENTATION
  1.3.2 YEARS CONSIDERED
1.4 CURRENCY
1.5 PACKAGE SIZE
1.6 MARKET STAKEHOLDERS

2 RESEARCH METHODOLOGY

2.1 RESEARCH DATA
  FIGURE 2 RESEARCH DESIGN
  2.1.1 SECONDARY DATA
    2.1.1.1 Secondary sources
  2.1.2 PRIMARY DATA
    2.1.2.1 Key data from primary sources
    2.1.2.2 Breakdown of primaries
  2.1.3 SECONDARY AND PRIMARY RESEARCH
    2.1.3.1 Key industry insights
2.2 MARKET SIZE ESTIMATION
  FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 1 (SUPPLY SIDE): REVENUE OF MARKET PLAYERS
  FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY—APPROACH 2 (DEMAND SIZE): BOTTOM-UP MARKET ESTIMATION FOR ITS MARKET FOR ROADWAYS
  2.2.1 BOTTOM-UP APPROACH
  FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
    2.2.1.1 Approach for estimating the market size by bottom-up analysis (demand side)
  2.2.2 TOP-DOWN APPROACH
  FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.2.2.1 Approach for estimating the market size by top-down approach (supply side)
2.3 DATA TRIANGULATION
  FIGURE 7 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
  FIGURE 8 ASSUMPTIONS OF RESEARCH STUDY

3 EXECUTIVE SUMMARY

  FIGURE 9 ITS MARKET: OPTIMISTIC, REALISTIC, AND PESSIMISTIC SCENARIO ANALYSIS, 2017–2025
3.1 ITS MARKET: REALISTIC SCENARIO (POST-COVID-19)
3.2 ITS MARKET: OPTIMISTIC SCENARIO (POST-COVID-19)
3.3 ITS MARKET: PESSIMISTIC SCENARIO (POST-COVID-19)
  FIGURE 10 COMMERCIAL VEHICLE OPERATION IN ITS MARKET FOR ROADWAYS IS EXPECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  FIGURE 11 INTELLIGENT TRAFFIC CONTROL APPLICATION TO HOLD LARGEST SIZE OF ITS MARKET FOR ROADWAYS IN 2020
  FIGURE 12 SMART TICKETING IS EXPECTED TO RECORD HIGHEST CAGR IN ITS MARKET FOR RAILWAYS DURING FORECAST PERIOD
  FIGURE 13 AIRCRAFT MANAGEMENT IS EXPECTED TO HOLD LARGEST SHARE OF ITS MARKET FOR AVIATION IN 2020
  FIGURE 14 FREIGHT ARRIVAL & TRANSIT IS EXPECTED TO HOLD HIGHEST SHARE OF ITS MARKET FOR MARITIME IN 2020
  FIGURE 15 NORTH AMERICA HELD LARGEST SHARE OF ITS MARKET FOR ROADWAYS IN 2019

4 PREMIUM INSIGHTS

4.1 MAJOR OPPORTUNITIES IN ITS MARKET
  FIGURE 16 APAC IS EXPECTED TO REGISTER HIGHEST CAGR IN ITS MARKET DURING FORECAST PERIOD
4.2 ITS MARKET FOR ROADWAYS, BY OFFERING
  FIGURE 17 ITS MARKET IN ROADWAYS FOR SOFTWARE TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
4.3 ITS MARKET FOR ROADWAYS IN APAC, BY SYSTEM AND COUNTRY
  FIGURE 18 ADVANCED TRAFFIC MANAGEMENT SYSTEM HELD LARGEST SHARE OF ITS MARKET FOR ROADWAYS IN APAC IN 2019
4.4 ITS MARKET FOR ROADWAYS, BY COUNTRY
  FIGURE 19 US DOMINATED ITS MARKET FOR ROADWAYS IN 2019
4.5 ITS MARKET FOR ROADWAYS, BY APPLICATION
  FIGURE 20 MARKET FOR FLEET MANAGEMENT AND ASSET MONITORING IS EXPECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD

5 MARKET OVERVIEW

5.1 INTRODUCTION
5.2 MARKET DYNAMICS FOR ITS IN ROADWAYS
  FIGURE 21 INCREASING CONCERN TOWARD PUBLIC SAFETY TO DRIVE MARKET FOR ROADWAYS
  5.2.1 DRIVERS
    5.2.1.1 Increasing concerns toward public safety
  FIGURE 22 ROAD TRAFFIC DEATH RATES PER 100,000 POPULATION BY WHO, 2016
    5.2.1.2 Growing traffic congestion
    5.2.1.3 Rising favorable government initiatives for effective traffic management
    5.2.1.4 Increasing adoption of ecofriendly automobile technology
    5.2.1.5 Development of smart cities globally
  FIGURE 23 IMPACT ANALYSIS: DRIVERS
  5.2.2 RESTRAINTS
    5.2.2.1 Expensive ITS installation
    5.2.2.2 Slow-growing infrastructure sector
  FIGURE 24 IMPACT ANALYSIS: RESTRAINTS
  5.2.3 OPPORTUNITIES
    5.2.3.1 Designing and developing smart vehicles compatible with ITS
    5.2.3.2 Increasing public–private partnerships (PPPs)
    5.2.3.3 Growing number of economically and technologically advanced countries
  FIGURE 25 IMPACT ANALYSIS: OPPORTUNITIES
  5.2.4 CHALLENGES
    5.2.4.1 Achieving interoperable and standard ITS architecture worldwide
  FIGURE 26 IMPACT ANALYSIS: CHALLENGE
5.3 MARKET DYNAMICS FOR ITS IN RAILWAYS
  FIGURE 27 INCREASING CONCERNS FOR SECURITY AND SURVEILLANCE MAY LEAD TO MARKET GROWTH FOR RAILWAYS
  5.3.1 DRIVERS
    5.3.1.1 Increasing concerns for security and surveillance
  5.3.2 RESTRAINTS
    5.3.2.1 Relatively slow-growing railway infrastructure
  5.3.3 OPPORTUNITIES
    5.3.3.1 Availability of diverse services and solutions
5.4 MARKET DYNAMICS FOR ITS IN AVIATION
  FIGURE 28 GROWING FOCUS ON EFFICIENT AIRLINE OPERATIONS LIKELY TO ENHANCE MARKET GROWTH FOR AVIATION
  5.4.1 DRIVERS
    5.4.1.1 Growing focus on efficient airline operations
    5.4.1.2 Increasing concerns for conservation of environment
  5.4.2 RESTRAINTS
    5.4.2.1 Lack of funding and synchronization among agencies
  5.4.3 OPPORTUNITIES
    5.4.3.1 Industry goals and initiatives taken to reduce CO2 emission
5.5 MARKET DYNAMICS FOR ITS IN MARITIME
  FIGURE 29 IMPROVING MARITIME LOGISTICS INFRASTRUCTURE CREATES DEMAND FOR ITS IN MARITIME
  5.5.1 DRIVERS
    5.5.1.1 Improving maritime logistics infrastructure
  5.5.2 RESTRAINTS
    5.5.2.1 Insufficient coordination among authorities and differing legislation
  5.5.3 OPPORTUNITIES
    5.5.3.1 Enhancement of information and communication technologies
5.6 VALUE CHAIN ANALYSIS
  FIGURE 30 VALUE CHAIN ANALYSIS: ITS MARKET
5.7 IMPACT OF COVID-19
  5.7.1 IMPACT ON ONGOING PROJECTS (OVERVIEW)
  5.7.2 IMPACT DUE TO DEPENDENCY ON 5G INFRASTRUCTURE
  5.7.3 IMPACT ON CONTACTLESS AND DIGITAL PAYMENT SYSTEM

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
  6.3.3 IEEE 1512
6.4 TRAFFIC MANAGEMENT DATA DICTIONARY (TMDD)
6.5 OTHERS

7 ITS MARKET FOR ROADWAYS, BY OFFERING

7.1 INTRODUCTION
  FIGURE 31 ITS MARKET FOR ROADWAYS: BY OFFERING
  FIGURE 32 ITS MARKET FOR SOFTWARE IS EXPECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  TABLE 1 ITS MARKET FOR ROADWAYS, BY OFFERING, 2017–2025 (USD BILLION)
7.2 HARDWARE
  FIGURE 33 ITS MARKET: HARDWARE COMPONENTS
  FIGURE 34 ANALYSIS OF HARDWARE SEGMENT: PRE- VS POST-COVID-19
  TABLE 2 ITS MARKET FOR HARDWARE IN ROADWAYS, BY COMPONENT, 2017–2025 (USD MILLION)
  7.2.1 INTERFACE BOARDS
    7.2.1.1 Multifunctional board
    7.2.1.2 Vehicle detection board
    7.2.1.3 Communication board
  TABLE 3 ITS MARKET FOR INTERFACE BOARD IN ROADWAYS, BY SUB-COMPONENT, 2017–2025 (USD MILLION)
  7.2.2 SENSOR
    7.2.2.1 Vehicle detection sensor
    7.2.2.2 Pedestrian presence sensor
    7.2.2.3 Speed sensor
  TABLE 4 ITS MARKET FOR SENSORS IN ROADWAYS, BY SUB-COMPONENT, 2017–2025 (USD MILLION)
  TABLE 5 ITS MARKET FOR SENSORS IN ROADWAYS, BY SUB-COMPONENT, 2017–2025 (MILLION UNITS)
  7.2.3 SURVEILLANCE CAMERA
    7.2.3.1 Thermal camera
    7.2.3.2 AID camera
  TABLE 6 ITS MARKET FOR SURVEILLANCE CAMERAS IN ROADWAYS, BY SUB-COMPONENT, 2017–2025 (USD MILLION)
  TABLE 7 ITS MARKET FOR SURVEILLANCE CAMERAS IN ROADWAYS, BY SUB-COMPONENT, 2017–2025 (MILLION UNITS)
  7.2.4 TELECOMMUNICATION NETWORK
    7.2.4.1 Fiber optics
    7.2.4.2 Copper line
    7.2.4.3 Wireless media
  TABLE 8 ITS MARKET FOR TELE-COMMUNICATION NETWORKS IN ROADWAYS, BY SUB-COMPONENT, 2017–2025 (USD MILLION)
  7.2.5 MONITORING AND DETECTION SYSTEM
    7.2.5.1 Automatic number plate detection
    7.2.5.2 Intelligent traffic controller
  TABLE 9 ITS MARKET FOR MONITORING AND DETECTION SYSTEM IN ROADWAYS, BY SUB-COMPONENT, 2017–2025 (USD MILLION)
  7.2.6 OTHERS
    7.2.6.1 Linked traffic controller
    7.2.6.2 Variable message sign
  TABLE 10 ITS MARKET FOR OTHER HARDWARE COMPONENT IN ROADWAYS, BY SUB-COMPONENT, 2017–2025 (USD MILLION)
7.3 SOFTWARE
  FIGURE 35 ITS MARKET: SOFTWARE COMPONENTS
  TABLE 11 ITS MARKET FOR SOFTWARE IN ROADWAYS, BY COMPONENT, 2017–2025 (USD MILLION)
  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
  FIGURE 36 ITS MARKET: SERVICES
  TABLE 12 ITS MARKET IN ROADWAYS, BY SERVICE, 2017–2025 (USD MILLION)
  7.4.1 BUSINESS AND CLOUD SERVICES
  7.4.2 SUPPORT AND MAINTENANCE SERVICES
7.5 IMPACT OF COVID-19 ON ROADWAYS OFFERINGS

8 ITS MARKET IN ROADWAYS, BY SYSTEM

8.1 INTRODUCTION
  FIGURE 37 ITS MARKET FOR ROADWAYS: BY SYSTEM
  FIGURE 38 ADVANCED TRAFFIC MANAGEMENT SYSTEM SEGMENT TO HOLD LARGEST SHARE OF ITS MARKET FOR ROADWAYS DURING FORECAST PERIOD
  TABLE 13 ITS MARKET FOR ROADWAYS, BY SYSTEM, 2017–2025 (USD BILLION)
8.2 ADVANCED TRAFFIC MANAGEMENT SYSTEM (ATMS)
  8.2.1 ATMS SEGMENT CURRENTLY HOLDS LARGEST SHARE OF ITS MARKET
  TABLE 14 ADVANCED TRAFFIC MANAGEMENT SYSTEM MARKET FOR ROADWAYS, BY APPLICATION, 2017–2025 (USD MILLION)
  TABLE 15 ADVANCED TRAFFIC MANAGEMENT SYSTEM MARKET FOR ROADWAYS, BY REGION, 2017–2025 (USD MILLION)
  FIGURE 39 ANALYSIS OF ATMS SEGMENT: PRE- VS POST-COVID-19
8.3 ADVANCED TRAVELER INFORMATION SYSTEM (ATIS)
  8.3.1 VEHICLE-TO-VEHICLE (V2V), VEHICLE-TO-INFRASTRUCTURE (V2I), VEHICLE-TO-EVERYTHING (V2X) COMMUNICATION
    8.3.1.1 V2V, V2I, and V2X technologies play a vital role when it comes to connected car concept
  TABLE 16 ADVANCED TRAVELER INFORMATION SYSTEM MARKET FOR ROADWAYS, BY APPLICATION, 2017–2025 (USD MILLION)
  TABLE 17 ADVANCED TRAVELER INFORMATION SYSTEM MARKET FOR ROADWAYS, BY REGION, 2017–2025 (USD MILLION)
8.4 ITS-ENABLED TRANSPORTATION PRICING SYSTEM (ITPS)
  8.4.1 ITPS IS EXPECTED TO WITNESS SIGNIFICANT GROWTH DURING FORECAST PERIOD
  TABLE 18 ITS-ENABLED TRANSPORTATION PRICING SYSTEM MARKET FOR ROADWAYS, BY APPLICATION, 2017–2025 (USD MILLION)
  TABLE 19 ITS-ENABLED TRANSPORTATION PRICING SYSTEM MARKET FOR ROADWAYS, BY REGION, 2017–2025 (USD MILLION)
  FIGURE 40 ANALYSIS OF ITPS SEGMENT: PRE- VS POST-COVID-19
8.5 ADVANCED PUBLIC TRANSPORTATION SYSTEM (APTS)
  8.5.1 IMPACT OF COVID-19 ON APTS MAY BE GREATER AS COMPARED TO OTHER SYSTEMS
  TABLE 20 ADVANCED PUBLIC TRANSPORTATION SYSTEM MARKET FOR ROADWAYS, BY APPLICATION, 2017–2025 (USD MILLION)
  TABLE 21 ADVANCED PUBLIC TRANSPORTATION SYSTEM MARKET FOR ROADWAYS, BY REGION, 2017–2025 (USD MILLION)
8.6 COMMERCIAL VEHICLE OPERATION (CVO)
  8.6.1 CVO IS EXPECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  TABLE 22 COMMERCIAL VEHICLE OPERATION MARKET FOR ROADWAYS, BY APPLICATION, 2017–2025 (USD MILLION)
  TABLE 23 COMMERCIAL VEHICLE OPERATION MARKET FOR ROADWAYS, BY REGION, 2017–2025 (USD MILLION)
8.7 IMPACT OF COVID-19 ON ROADWAY SYSTEMS

9 ITS MARKET FOR ROADWAYS, BY APPLICATION

9.1 INTRODUCTION
  FIGURE 41 ITS MARKET FOR ROADWAYS: BY APPLICATION
  FIGURE 42 INTELLIGENT TRAFFIC CONTROL APPLICATION TO HOLD LARGEST SHARE OF ITS MARKET FOR ROADWAYS IN 2020
  TABLE 24 ITS MARKET FOR ROADWAYS, BY APPLICATION, 2017–2025 (USD BILLION)
9.2 FLEET MANAGEMENT AND ASSET MONITORING
  9.2.1 VEHICLE TRACKING THROUGH GPS IS ONE OF THE KEY FEATURES IN THIS APPLICATION
  TABLE 25 FLEET MANAGEMENT AND ASSET MONITORING MARKET FOR ROADWAYS, BY SYSTEM, 2017–2025 (USD MILLION)
  TABLE 26 FLEET MANAGEMENT AND ASSET MONITORING MARKET FOR ROADWAYS, BY REGION, 2017–2025 (USD MILLION)
  FIGURE 43 ANALYSIS OF FLEET MANAGEMENT AND ASSET MONITORING SEGMENT:
PRE- VS POST-COVID-19
9.3 INTELLIGENT TRAFFIC CONTROL
  FIGURE 44 TYPES OF INTELLIGENT TRAFFIC CONTROL
  9.3.1 TRAFFIC MONITORING
    9.3.1.1 Traffic monitoring system helps to monitor real-time traffic
  9.3.2 TRAFFIC SIGNAL CONTROL
    9.3.2.1 Traffic signal control system serves as an effective measure for relieving urban traffic congestion
  9.3.3 TRAFFIC ENFORCEMENT CAMERAS
    9.3.3.1 Traffic enforcement cameras help to monitor violation of traffic laws
  9.3.4 VARIABLE TRAFFIC MESSAGE SIGN
    9.3.4.1 Variable traffic message sign is an electronic and intelligent display panel for road traffic management
  TABLE 27 INTELLIGENT TRAFFIC CONTROL MARKET FOR ROADWAYS, BY SUB-SYSTEM, 2017–2025 (USD MILLION)
  TABLE 28 INTELLIGENT TRAFFIC CONTROL MARKET FOR ROADWAYS, BY SYSTEM, 2017–2025 (USD MILLION)
  TABLE 29 INTELLIGENT TRAFFIC CONTROL MARKET FOR ROADWAYS, BY REGION, 2017–2025 (USD MILLION)
9.4 COLLISION AVOIDANCE
  9.4.1 COLLISION AVOIDANCE IS A SMALL MARKET BUT TO GROW SIGNIFICANTLY DURING FORECAST PERIOD
  TABLE 30 COLLISION AVOIDANCE MARKET FOR ROADWAYS, BY SYSTEM, 2017–2025 (USD MILLION)
  TABLE 31 COLLISION AVOIDANCE MARKET FOR ROADWAYS, BY REGION, 2017–2025 (USD MILLION)
9.5 PARKING MANAGEMENT
  9.5.1 PARKING MANAGEMENT SYSTEM PROVIDES ELECTRONIC MONITORING AND MANAGEMENT OF PARKING FACILITIES
  TABLE 32 PARKING MANAGEMENT MARKET FOR ROADWAYS, BY SYSTEM, 2017–2025 (USD MILLION)
  TABLE 33 PARKING MANAGEMENT MARKET FOR ROADWAYS, BY REGION, 2017–2025 (USD MILLION)
  FIGURE 45 ANALYSIS OF PARKING MANAGEMENT SEGMENT: PRE- VS POST-COVID-19
9.6 PASSENGER INFORMATION MANAGEMENT
  9.6.1 INCREASING DEMAND FOR INTERACTIVE DISPLAYS TO DRIVE THE MARKET FOR PASSENGER INFORMATION MANAGEMENT
  TABLE 34 PASSENGER INFORMATION MANAGEMENT MARKET FOR ROADWAYS, BY SYSTEM, 2017–2025 (USD MILLION)
  TABLE 35 PASSENGER INFORMATION MANAGEMENT MARKET FOR ROADWAYS, BY REGION, 2017–2025 (USD MILLION)
9.7 TICKETING MANAGEMENT
  9.7.1 INCREASING USAGE OF E-TICKETING, INTEGRATED PAYMENT SYSTEMS, AND SMARTCARDS IS EXPECTED TO DRIVE MARKET FOR TICKETING MANAGEMENT
  TABLE 36 TICKETING MANAGEMENT MARKET FOR ROADWAYS, BY SYSTEM, 2017–2025 (USD MILLION)
  TABLE 37 TICKETING MANAGEMENT MARKET FOR ROADWAYS, BY REGION, 2017–2025 (USD MILLION)
  FIGURE 46 ANALYSIS OF TICKETING MANAGEMENT SEGMENT: PRE- VS POST-COVID-19
9.8 EMERGENCY VEHICLE NOTIFICATION
  9.8.1 EMERGENCE OF COMMERCIAL VEHICLES IS MAJOR GROWTH DRIVER FOR THIS MARKET
  TABLE 38 EMERGENCY VEHICLE NOTIFICATION MARKET FOR ROADWAYS, BY SYSTEM, 2017–2025 (USD MILLION)
  TABLE 39 EMERGENCY VEHICLE NOTIFICATION MARKET FOR ROADWAYS, BY REGION, 2017–2025 (USD MILLION)
9.9 AUTOMOTIVE TELEMATICS
  9.9.1 AUTOMOTIVE TELEMATICS IS EXPECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  TABLE 40 AUTOMOTIVE TELEMATICS MARKET FOR ROADWAYS, BY SYSTEM, 2017–2025 (USD MILLION)
  TABLE 41 AUTOMOTIVE TELEMATICS MARKET FOR ROADWAYS, BY REGION, 2017–2025 (USD MILLION)
9.10 IMPACT OF COVID-19 ON ROADWAYS APPLICATIONS

10 ITS MARKET FOR RAILWAYS, BY APPLICATION

10.1 INTRODUCTION
  FIGURE 47 ITS MARKET FOR RAILWAYS, BY APPLICATION
  FIGURE 48 ITS MARKET FOR SMART TICKETING APPLICATION IN RAILWAYS IS EXPECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  TABLE 42 ITS MARKET FOR RAILWAYS, BY APPLICATION, 2017–2025 (USD BILLION)
10.2 RAIL-RUNNING OPERATION AND COLLISION AVOIDANCE
  10.2.1 RAIL-RUNNING OPERATION AND COLLISION AVOIDANCE TO HOLD LARGEST SHARE OF ITS MARKET FOR RAILWAYS
  TABLE 43 ITS MARKET FOR RAILWAYS IN RAIL-RUNNING OPERATION & COLLISION AVOIDANCE APPLICATION, BY REGION, 2017–2025 (USD MILLION)
  FIGURE 49 ANALYSIS OF RAIL-RUNNING OPERATION & COLLISION AVOIDANCE SEGMENT: PRE- VS POST-COVID-19
10.3 PASSENGER INFORMATION MANAGEMENT
  10.3.1 PASSENGER INFORMATION MANAGEMENT SERVES AS A TOOL TO PROVIDE PRE-TRIP AND REAL-TIME INFORMATION
  TABLE 44 ITS MARKET FOR RAILWAYS IN PASSENGER INFORMATION MANAGEMENT APPLICATION, BY REGION, 2017–2025 (USD MILLION)
10.4 SMART TICKETING
  10.4.1 SMART TICKETING IS EXPECTED TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
  TABLE 45 ITS MARKET FOR RAILWAYS IN SMART TICKETING APPLICATION, BY REGION, 2017–2025 (USD MILLION)
  FIGURE 50 ANALYSIS OF SMART TICKETING SEGMENT: PRE- VS POST-COVID-19
10.5 SECURITY AND SURVEILLANCE
  10.5.1 VULNERABILITY TO SECURITY THREATS HAS INCREASED NEED FOR SECURITY AND SURVEILLANCE IN RAILWAYS
  TABLE 46 ITS MARKET FOR RAILWAYS IN SECURITY & SURVEILLANCE APPLICATION, BY REGION, 2017–2025 (USD MILLION)
10.6 EMERGENCY NOTIFICATION
  10.6.1 EMERGENCY NOTIFICATION PLAYS A KEY ROLE IN HELPING REDUCE CHANCES OF ACCIDENTS IN RAILWAYS
  TABLE 47 ITS MARKET FOR RAILWAYS IN EMERGENCY NOTIFICATION APPLICATION, BY REGION, 2017–2025 (USD MILLION)
10.7 OTHERS
  TABLE 48 ITS MARKET FOR RAILWAYS IN OTHERS APPLICATIONS, BY REGION, 2017–2025 (USD MILLION)
10.8 IMPACT OF COVID-19 ON RAILWAYS APPLICATIONS

11 ITS MARKET FOR AVIATION, BY APPLICATION

11.1 INTRODUCTION
  FIGURE 51 ITS MARKET FOR AVIATION: BY APPLICATION
  FIGURE 52 ITS MARKET FOR SMART TICKETING APPLICATION TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
  TABLE 49 ITS MARKET FOR AVIATION, BY APPLICATION, 2017–2025 (USD MILLION)
11.2 SECURITY AND SURVEILLANCE
  11.2.1 SECURITY AND SURVEILLANCE HELPS TO AVOID UNETHICAL AND UNLAWFUL ACTIVITIES
  TABLE 50 ITS MARKET FOR AVIATION IN SECURITY & SURVEILLANCE APPLICATION, BY REGION, 2017–2025 (USD MILLION)
  FIGURE 53 ANALYSIS OF SECURITY & SURVEILLANCE SEGMENT: PRE- VS POST-COVID-19
11.3 SHUTTLE BUS TRACKING
  11.3.1 SHUTTLE BUS TRACKING IS CURRENTLY HAVING LESS FOCUS AS COMPARED TO OTHER AVIATION APPLICATIONS
  TABLE 51 ITS MARKET FOR AVIATION IN SHUTTLE BUS TRACKING APPLICATION, BY REGION, 2017–2025 (USD MILLION)
11.4 TRAVELER INFORMATION
  11.4.1 INCREASING DEMAND FOR INTERACTIVE DISPLAYS TO DRIVE MARKET FOR TRAVELLER INFORMATION
  TABLE 52 ITS MARKET FOR AVIATION IN TRAVELER INFORMATION APPLICATION, BY REGION, 2017–2025 (USD MILLION)
11.5 SMART TICKETING
  11.5.1 SMART TICKETING APPLICATION TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
  TABLE 53 ITS MARKET FOR AVIATION IN SMART TICKETING APPLICATION, BY REGION, 2017–2025 (USD MILLION)
11.6 AIRCRAFT MANAGEMENT
  11.6.1 AIRCRAFT MANAGEMENT HOLDS LARGEST SHARE OF ITS MARKET FOR AVIATION
  TABLE 54 ITS MARKET FOR AVIATION IN AIRCRAFT MANAGEMENT APPLICATION, BY REGION, 2017–2025 (USD MILLION)
  FIGURE 54 ANALYSIS OF AIRCRAFT MANAGEMENT SEGMENT: PRE- VS POST-COVID-19
11.7 EMERGENCY NOTIFICATION
  11.7.1 DEPLOYMENT OF SURVEILLANCE CAMERAS IS EXPECTED TO DRIVE MARKET FOR EMERGENCY NOTIFICATION
  TABLE 55 ITS MARKET FOR AVIATION IN EMERGENCY NOTIFICATION APPLICATION, BY REGION, 2017–2025 (USD MILLION)
11.8 OTHERS
  TABLE 56 ITS MARKET FOR AVIATION IN OTHER APPLICATIONS, BY REGION, 2017–2025 (USD MILLION)
11.9 IMPACT OF COVID-19 ON AVIATION APPLICATIONS

12 ITS MARKET IN MARITIME, BY APPLICATION

12.1 INTRODUCTION
  FIGURE 55 ITS MARKET FOR MARITIME: BY APPLICATION
  FIGURE 56 FREIGHT ARRIVAL & TRANSIT APPLICATION SEGMENT TO HOLD LARGEST SHARE OF ITS MARKET FOR MARITIME DURING FORECAST PERIOD
  TABLE 57 ITS MARKET FOR MARITIME, BY APPLICATION, 2017–2025 (USD MILLION)
12.2 FREIGHT ARRIVAL & TRANSIT
  12.2.1 FREIGHT ARRIVAL & TRANSIT APPLICATION TO HOLD LARGEST SHARE OF ITS MARKET IN MARITIME
  TABLE 58 ITS MARKET FOR MARITIME IN FREIGHT ARRIVAL & TRANSIT APPLICATION, BY REGION, 2017–2025 (USD MILLION)
  FIGURE 57 ANALYSIS OF FREIGHT ARRIVAL & TRANSIT SEGMENT: PRE- VS POST-COVID-19
12.3 REAL-TIME WEATHER INFORMATION
  12.3.1 REAL-TIME WEATHER INFORMATION HOLDS LESS SHARE OF ITS MARKET FOR MARITIME
  TABLE 59 ITS MARKET FOR MARITIME IN REAL-TIME WEATHER INFORMATION APPLICATION, BY REGION, 2017–2025 (USD MILLION)
12.4 SCHEDULING OF CONTAINER MOVEMENT
  12.4.1 SCHEDULING OF CONTAINER MOVEMENT APPLICATION SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  TABLE 60 ITS MARKET FOR MARITIME IN SCHEDULING OF CONTAINER MOVEMENT APPLICATION, BY REGION, 2017–2025 (USD MILLION)
  FIGURE 58 ANALYSIS OF SCHEDULING OF CONTAINER MOVEMENT SEGMENT: PRE- VS POST-COVID-19
12.5 EMERGENCY NOTIFICATION
  12.5.1 EMERGENCY NOTIFICATION APPLICATION PLAYS A VITAL ROLE IN MONITORING AND REDUCING CHANCES OF MARINE ACCIDENTS
  TABLE 61 ITS MARKET FOR MARITIME IN EMERGENCY NOTIFICATION APPLICATION, BY REGION, 2017–2025 (USD MILLION)
12.6 OTHERS
  TABLE 62 ITS MARKET FOR MARITIME IN OTHER APPLICATIONS, BY REGION, 2017–2025 (USD MILLION)
12.7 IMPACT OF COVID-19 ON MARITIME APPLICATIONS

13 GEOGRAPHIC ANALYSIS

13.1 INTRODUCTION
  FIGURE 59 ITS MARKET: BY REGION
  TABLE 63 ITS MARKET FOR ROADWAYS, BY REGION, 2017–2025 (USD BILLION)
  TABLE 64 ITS MARKET FOR RAILWAYS, BY REGION, 2017–2025 (USD BILLION)
  TABLE 65 ITS MARKET FOR AVIATION, BY REGION, 2017–2025 (USD MILLION)
  TABLE 66 ITS MARKET FOR MARITIME, BY REGION, 2017–2025 (USD MILLION)
13.2 NORTH AMERICA
  FIGURE 60 ITS MARKET SEGMENTATION: NORTH AMERICA
  FIGURE 61 MARKET SNAPSHOT FOR ROADWAYS IN NORTH AMERICA
  TABLE 67 ITS MARKET FOR ROADWAYS IN NORTH AMERICA, BY COUNTRY, 2017–2025 (USD MILLION)
  TABLE 68 ITS MARKET FOR ROADWAYS IN NORTH AMERICA, BY SYSTEM, 2017–2025 (USD MILLION)
  TABLE 69 ITS MARKET FOR ROADWAYS IN NORTH AMERICA, BY APPLICATION, 2017–2025 (USD MILLION)
  13.2.1 IMPACT OF COVID-19 ON NORTH AMERICA
  FIGURE 62 ANALYSIS OF MARKET FOR NORTH AMERICA: PRE- VS POST-COVID-19
  13.2.2 US
    13.2.2.1 US is currently holding first rank in ITS market in North America
  TABLE 70 ITS MARKET FOR ROADWAYS IN THE US, BY SYSTEM, 2017–2025 (USD MILLION)
  13.2.3 CANADA
    13.2.3.1 Canada is holding second rank in ITS ecosystem in North America
  TABLE 71 ITS MARKET FOR ROADWAYS IN CANADA, BY SYSTEM, 2017–2025 (USD MILLION)
  13.2.4 MEXICO
    13.2.4.1 Mexico is witnessing significant growth in North America ITS market
  TABLE 72 ITS MARKET FOR ROADWAYS IN MEXICO, BY SYSTEM, 2017–2025 (USD MILLION)
13.3 EUROPE
  FIGURE 63 ITS MARKET SEGMENTATION: EUROPE
  FIGURE 64 MARKET SNAPSHOT FOR ROADWAYS IN EUROPE
  TABLE 73 I ITS MARKET FOR ROADWAYS IN EUROPE, BY COUNTRY, 2017–2025 (USD MILLION)
  TABLE 74 ITS MARKET FOR ROADWAYS IN EUROPE, BY SYSTEM, 2017–2025 (USD MILLION)
  TABLE 75 ITS MARKET FOR ROADWAYS IN EUROPE, BY APPLICATION, 2017–2025 (USD MILLION)
  13.3.1 IMPACT OF COVID-19 ON EUROPE
  FIGURE 65 ANALYSIS OF MARKET FOR EUROPE: PRE- VS POST-COVID-19
  13.3.2 UK
    13.3.2.1 UK holds largest share of ITS market in Europe
  TABLE 76 ITS MARKET FOR ROADWAYS IN UK, BY SYSTEM, 2017–2025 (USD MILLION)
  13.3.3 GERMANY
    13.3.3.1 Germany holds second position in ITS market in Europe
  TABLE 77 ITS MARKET FOR ROADWAYS IN GERMANY, BY SYSTEM, 2017–2025 (USD MILLION)
  13.3.4 FRANCE
    13.3.4.1 ITS plays a vital role in the French Transport Policy
  TABLE 78 ITS MARKET FOR ROADWAYS IN FRANCE, BY SYSTEM, 2017–2025 (USD MILLION)
  13.3.5 ITALY
    13.3.5.1 Italy to hold significant market share in ITS ecosystem
  TABLE 79 ITS MARKET FOR ROADWAYS IN ITALY, BY SYSTEM, 2017–2025 (USD MILLION)
  13.3.6 SPAIN
    13.3.6.1 High traffic density in Spain to drive the market growth
  TABLE 80 ITS MARKET FOR ROADWAYS IN SPAIN, BY SYSTEM, 2017–2025 (USD MILLION)
  13.3.7 BELGIUM
    13.3.7.1 Developments in the transport sector to drive ITS market in Belgium
  TABLE 81 ITS MARKET FOR ROADWAYS IN BELGIUM, BY SYSTEM, 2017–2025 (USD MILLION)
  13.3.8 DENMARK
    13.3.8.1 Innovation in technology to drive ITS market in Denmark
  TABLE 82 ITS MARKET FOR ROADWAYS IN DENMARK, BY SYSTEM, 2017–2025 (USD MILLION)
  13.3.9 AUSTRIA
    13.3.9.1 Well-established transport sector to boost the market growth
  TABLE 83 ITS MARKET FOR ROADWAYS IN AUSTRIA, BY SYSTEM, 2017–2025 (USD MILLION)
  13.3.10 SWEDEN
    13.3.10.1 Frequent usage of public transit systems to boost the deployment of ITS
  TABLE 84 ITS MARKET FOR ROADWAYS IN SWEDEN, BY SYSTEM, 2017–2025 (USD MILLION)
  13.3.11 REST OF EUROPE
  TABLE 85 ITS MARKET FOR ROADWAYS IN REST OF EUROPE, BY SYSTEM, 2017–2025 (USD MILLION)
13.4 APAC
  FIGURE 66 ITS MARKET SEGMENTATION: APAC
  FIGURE 67 MARKET SNAPSHOT FOR ROADWAYS IN APAC
  TABLE 86 ITS MARKET FOR ROADWAYS IN APAC, BY COUNTRY, 2017–2025 (USD MILLION)
  TABLE 87 ITS MARKET FOR ROADWAYS IN APAC, BY SYSTEM, 2017–2025 (USD MILLION)
  TABLE 88 ITS MARKET FOR ROADWAYS IN APAC, BY APPLICATION, 2017–2025 (USD MILLION)
  13.4.1 IMPACT OF COVID-19 ON APAC
  FIGURE 68 ANALYSIS OF MARKET FOR APAC: PRE- VS POST-COVID-19
  13.4.2 CHINA
    13.4.2.1 China is one of major markets for ITS in APAC
  TABLE 89 ITS MARKET FOR ROADWAYS IN CHINA, BY SYSTEM, 2017–2025 (USD MILLION)
  13.4.3 JAPAN
    13.4.3.1 Japan is holding first rank in ITS market in APAC
  TABLE 90 ITS MARKET FOR ROADWAYS IN JAPAN, BY SYSTEM, 2017–2025 (USD MILLION)
  13.4.4 SOUTH KOREA
    13.4.4.1 South Korea is a significant contributor to ITS market in APAC
  TABLE 91 ITS MARKET FOR ROADWAYS IN SOUTH KOREA, BY SYSTEM, 2017–2025 (USD MILLION)
  13.4.5 INDIA
    13.4.5.1 India is in a nascent stage in ITS deployment in APAC
  TABLE 92 ITS MARKET FOR ROADWAYS IN INDIA, BY SYSTEM, 2017–2025 (USD MILLION)
  13.4.6 AUSTRALIA
    13.4.6.1 Australia is expected to register highest CAGR in APAC ITS market
  TABLE 93 ITS MARKET FOR ROADWAYS IN AUSTRALIA, BY SYSTEM, 2017–2025 (USD MILLION)
  13.4.7 REST OF APAC
  TABLE 94 ITS MARKET FOR ROADWAYS IN REST OF APAC, BY SYSTEM, 2017–2025 (USD MILLION)
13.5 REST OF WORLD (ROW)
  FIGURE 69 ITS MARKET SEGMENTATION: REST OF WORLD
  FIGURE 70 MARKET SNAPSHOT FOR ROADWAYS IN ROW
  TABLE 95 ITS MARKET FOR ROADWAYS IN ROW, BY COUNTRY, 2017–2025 (USD MILLION)
  TABLE 96 ITS MARKET FOR ROADWAYS IN ROW, BY SYSTEM, 2017–2025 (USD MILLION)
  TABLE 97 ITS MARKET FOR ROADWAYS IN ROW, BY APPLICATION, 2017–2025 (USD MILLION)
  13.5.1 IMPACT OF COVID-19 ON ROW
  FIGURE 71 ANALYSIS OF MARKET FOR ROW: PRE- VS POST-COVID-19
  13.5.2 SOUTH AMERICA
    13.5.2.1 South America is dominating the ITS market in RoW
  TABLE 98 ITS MARKET FOR ROADWAYS IN SOUTH AMERICA, BY SYSTEM, 2017–2025 (USD MILLION)
  13.5.3 AFRICA
    13.5.3.1 Traffic congestion and increasing pollution to drive the growth of ITS market in Africa
  TABLE 99 ITS MARKET FOR ROADWAYS IN AFRICA, BY SYSTEM, 2017–2025 (USD MILLION)
  13.5.4 MIDDLE EAST
    13.5.4.1 Middle East to record significant growth during forecast period
  TABLE 100 ITS MARKET FOR ROADWAYS IN MIDDLE EAST, BY SYSTEM, 2017–2025 (USD MILLION)

14 COMPETITIVE LANDSCAPE

14.1 INTRODUCTION
  FIGURE 72 ITS MARKET: KEY GROWTH STRATEGY ADOPTED BY COMPANIES FROM 2017 T0 2020
14.2 RANKING ANALYSIS OF KEY PLAYERS IN ITS MARKET
  FIGURE 73 ITS MARKET: RANKING OF KEY COMPANIES
14.3 COMPETITIVE SITUATIONS AND TRENDS
  14.3.1 NEW PRODUCT LAUNCHES
  TABLE 101 NEW PRODUCT LAUNCHES, 2019–2020
  14.3.2 CONTRACTS, COLLABORATIONS, AND PARTNERSHIPS
  TABLE 102 CONTRACTS, COLLABORATIONS, AND PARTNERSHIP, 2019–2020
  14.3.3 ACQUISITIONS
  TABLE 103 ACQUISITIONS, 2018–2020
14.4 COMPETITIVE LEADERSHIP MAPPING, 2019
  14.4.1 VISIONARY LEADERS
  14.4.2 DYNAMIC DIFFERENTIATORS
  14.4.3 INNOVATORS
  14.4.4 EMERGING COMPANIES
  FIGURE 74 ITS MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019

15 COMPANY PROFILE

15.1 INTRODUCTION
(Business Overview, Products/solutions/services offered, Recent Developments, COVID-19-related developments, SWOT Analysis, and MnM View)*
15.2 KEY PLAYERS
  15.2.1 THALES GROUP
  FIGURE 75 THALES GROUP: COMPANY SNAPSHOT
  15.2.2 SIEMENS
  FIGURE 76 SIEMENS: COMPANY SNAPSHOT
  15.2.3 KAPSCH TRAFFICCOM
  FIGURE 77 KAPSCH TRAFFICCOM: COMPANY SNAPSHOT
  15.2.4 GARMIN
  FIGURE 78 GARMIN: COMPANY SNAPSHOT
  15.2.5 TOMTOM INTERNATIONAL BV
  FIGURE 79 TOMTOM INTERNATIONAL BV: COMPANY SNAPSHOT
  15.2.6 CUBIC CORPORATION
  FIGURE 80 CUBIC CORPORATION: COMPANY SNAPSHOT
  15.2.7 CISCO SYSTEMS
  FIGURE 81 CISCO SYSTEMS: COMPANY SNAPSHOT
  15.2.8 FLIR SYSTEMS, INC.
  FIGURE 82 FLIR SYSTEMS, INC.: COMPANY SNAPSHOT
  15.2.9 INDRA SISTEMAS, S.A.
  FIGURE 83 INDRA SISTEMAS, S.A.: COMPANY SNAPSHOT
  15.2.10 EFKON GMBH
15.3 RIGHT TO WIN
15.4 OTHER IMPORTANT PLAYERS
  15.4.1 Q-FREE
  15.4.2 DENSO CORPORATION
  15.4.3 ITERIS
  15.4.4 TRANSCORE
  15.4.5 SAVARI
  15.4.6 RICARDO
  15.4.7 LANNER ELECTRONICS
  15.4.8 GEOTOLL
  15.4.9 CITILOG
  15.4.10 CELLINT
*Details Business Overview, Products/solutions/services offered, Recent Developments, COVID-19-related developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.

16 APPENDIX

16.1 DISCUSSION GUIDE
16.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
16.3 AVAILABLE CUSTOMIZATIONS
16.4 RELATED REPORTS
16.5 AUTHOR DETAILS

According to the new research report "Intelligent Transportation System Market by Offering, System (Advanced Traffic Management System, Advanced Traveler Information System, ITS-Enabled Transportation Pricing System), Application, and Geography - Global Forecast to 2023", The Intelligent Transportation System (ITS) market in roadways is estimated to be worth USD 23.35 Billion in 2018 and projected to reach USD 30.74 Billion by 2023, at a CAGR of 5.65% between 2018 and 2023.

Some of the key companies operating in the ITS market are:

 

  • Thales (France)
  • Siemens (Germany)
  • Garmin (Switzerland)
  • Kapsch TrafficCom (Austria)
  • TomTom (Netherlands)
  • Cubic (US)
  • Q-Free (Norway)
  • EFKON (Austria)
  • FLIR Systems (US)
  • Denso (Japan)

 

The growth of this market is driven by increasing concerns related to public safety, increasing traffic congestion problem, and favorable government initiatives for effective traffic management.

The commercial vehicle operation system market in roadways to grow at the highest CAGR

Commercial vehicle operation (CVO) encompasses a range of industries including service and repair vehicle, private buses and taxis, and trucks. The monitoring and information system in CVO helps a driver find safe routes and track the total travel time, as well as enables the owner to monitor the vehicle. CVO includes operations associated with moving freight and passengers in commercial vehicle and activities necessary to regulate these operations, as well as activities related to safety assurance, commercial vehicle credentials, and tax administration. The increasing demand for the expansion of transportation networks and growth in the logistics sector are key reasons for the growing demand for commercial vehicle operation systems.

Hardware offering is expected to lead the overall ITS market in roadways

Hardware offering includes interface boards, sensors, surveillance camera, telecommunication network, monitoring and detection systems, and other hardware components such as linked traffic controller and variable message sign. 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.

North America held the largest share of the intelligent transportation system market in 2017

The highest market size in North America is attributed to the adoption of ITS to counter traffic congestion and boost safety on roads is propelling the growth of the ITS market in this region. Government funding and support toward the implementation of ITS in North America is another major driver for this market.



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