According to new market research report "Intelligent Transportation System Market by Roadway (Hardware, Software, & Services), Aviation Tool (Kiosk, Multi-User Flight Information Display, and Smart Gate System), Railway, Maritime, Protocol, Application, and Geography - Global Forecast to 2022", the intelligent transportation system (ITS) market size, in terms of value, is expected to grow from USD 36.10 Billion in 2015 to USD 63.66 Billion by 2022, at a CAGR of 8.3% between 2016 and 2022.
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Roadway transportation mode to lead the intelligent transportation system market
Commercial vehicle operation system market in roadway transportation to grow at the highest CAGR
North America held the largest share of the intelligent transportation system market in 2015
The scope of this research report covers the intelligent transportation system market on the basis of various transportation modes such as roadways, railways, aviation, and maritime. The roadways transportation mode is expected to hold the largest market share during the forecast period. The market for aviation is expected to grow at the highest rate during the forecast period.
The growth of the intelligent transportation system market for roadway is propelled by factors such as the increasing concerns towards road safety and demand for solutions to traffic congestion to ensure better mobility. Different hardware components used in the intelligent transportation system for roadway include interface board, sensor, surveillance camera, telecommunication network, and monitoring & detection system along with software components.
The intelligent transportation system market for the aviation industry is also expected to gain momentum during the forecast period. The growing need to offer best and efficient airline transport experiences is fueling the adoption of intelligent transportation system in the aviation industry. In this industry, ITS is focused on the management of aircraft and infrastructure facilities, ensuring the safety and efficiency of the transportation process.
The ITS ecosystem includes electric component providers,; original design manufacturers; solution providers such as Thales Group (France), Siemens AG (Germany), Garmin Ltd. (Switzerland), Kapsch Trafficcom (Austria), Tomtom International BV (the Netherlands), Q-Free ASA (Norway), Denso Corporation (Japan), Efcon AG (Austria), Lanner Electronics (Taiwan), Savari Inc. (U.S.), Transcore Inc. (U.S.), Iteris Inc. (U.S.), Atkins Group (U.K.), and Ricardo plc. (U.K.); distributors; and post-sales service providers.
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