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The Global ITS Market Comes To The Rescue Of Modern Day’s Traffic Woes

30 Mar 2017
Global ITS Market, ITS Market, ITS,Global Intelligent Transportation Systems Market

With day to day increasing traffic congestion and high rate of migration from rural to urban areas has triggered the global intelligent transportation system market. The market is keeping at par with the latest technology and expanding its reach to developing economies as the problem of congestion is rising exponentially in such regions. Recently, one of the key market players, Kapsch TrafficCom announced its partnership with Fluidtime Data Services GmbH (Fluidtime), for integrated mobility solutions, with Kapsch buying a 75% stake in Fluidtime. According to Kapsch, “the Fluidtime mobility platform provides urban travellers with real-time information about transport options and multimodal route alternatives including booking and payment services.  This includes information of train, underground, bus and tram as well as car or bike sharing services, taxi and on-demand vehicle fleets,” as reported by Smarthighways.net. 

In another move, Kapsch acquired a four-year, $8.8M contract to install an Agency-Wide Transportation Management Software (ATMS). Other players in the market are also looking for opportunities to expand their business. In a similar move, Q-Free launched its cutting-edge ticketless parking system in Australia. This system provides better accuracy with the help of Q-Free Intrada ALPR software installed at the entrances and exits of the car park. 

Acknowledging the growing demand for intelligent transportation system (ITS) to control the congestion issue of the cities, BIS Research has analyzed the global market for ITS and has compiled a report titled ‘Global Intelligent Transportation Systems Market, Analysis and Forecast: 2016 – 2022’. According to the analysis the global ITS Market is estimated to reach $72.32 billion by 2022, growing at a CAGR of 7.9% over the period of 2016 to 2022.

The report identifies the global ITS market in different segments based on its application for roadways, namely traffic management, public transportation, road safety & security, tolling, parking management, freight management, tunnel management & safety, environmental monitoring, and road–user charging. The report also categorises the market by type of ITS systems available in the market, viz. Advanced Traffic Management System (ATMS), Advanced Transportation Pricing System (ATPS), Advanced Traveler Information System (ATIS), Advanced Public Transportation System (APTS), Commercial Vehicle Operations (CVO), and Advanced Rural Transportation System (ARTS). 

The market study is a detailed examination of the key driving and restraining forces of the global market. The report aso includes application of ITS in different mode of transportation beside roadways, viz. railways and airways. The ITS application for railway includes  railway crossing management, freight services, cost management, passenger services, and infotainment. Similarly, for airways, it includes  air traffic management, security & surveillance, shuttle bus tracking, traveler information, smart ticketing, and emergency notification.

The report on global ITS market focuses mainly on Advanced Traffic Management, Electronic Tolling, Smart Parking, Revenue Collection, Railway Crossing Management, Freight Management, & Tunnel Management. Besides these classifications, the report includes a detailed analysis of the key players of the market with individual SWOT analysis. Some of the key players covered in the report are Thales S.A (France), Siemens AG (Germany), Cubic Corporation (U.S) Garmin Ltd. (Switzerland), Kapsch TrafficCom (Austria), Q-Free ASA (Norway), Denso Corporation (Japan), EfKon AG (Austria), and TomTom NV (The Netherlands).

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