Market Revenue Intelligent Transportation System (ITS) Market | Page 2

Investment across the intelligent transport system is expected to increase on account of high benefit cost ratio
that strongly influences vehicle owners and government authorities to invest in this technology that includes
vehicle to Infrastructure (V2I) communication, Vehicle to Vehicle (V2V) communication, mobility application and
environment application. However, slow growth in infrastructure sector can act as a challenge to the market.
Interoperability and standardization pose a major challenge for the market growth. Development of connection
assurance systems is expected to be the top agenda of various nations. Achieving interoperability ensures that
transport systems are not simply interconnected but that the boundaries between different networks are
effective. Technical interoperability is achieved when different transport systems are linked in ways which
effectively extend the network of services. Technical interoperability requires the various systems of physical
infrastructure in different transport systems to interface efficiently. High cost of these systems can also be
attributed as a major restraint to the market growth.
On the basis of product, intelligent transportation system can be segmented into Advanced Transportation
Management Systems (ATMS), Advanced Transportation Pricing Systems (ATPS), Advanced Public
Transportation Systems (APTS) and Advanced Traveler Information Systems (ATIS). ATMS is expected to be the
largest market product segment since it provides enhanced management services which help in alleviation
traffic congestion, pollution and also increases the efficiency of transportation operations.
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These systems are coupled with communications and sensors to ensure real time management. ATPS is
estimated to witness high growth rate over the forecast period owing to its increased operations efficiency and
overall transportation safety. These systems are widely used in automatic vehicle location systems, passenger
information, and real time bus arrival notification systems.
On the basis of applications, the intelligent transportation system can be classified into, environment protection,
traffic management, public transport, freight management, automotive telematics, road safety and security,
parking management and road user charging. Traffic management is expected to be the largest application
segment in the market. ATMS is used in traffic management to enhance road network by reducing financial
burden on regulatory authorities thereby decreasing the cost of investment in traffic congestion control.
Environmental protection is anticipated to witness significant growth in the market over the forecast period
owing to increase in environmental awareness coupled with various government initiatives to curb vehicle
pollutant emissions.
Globally, North America is expected to have the largest market over the forecast period. Increasing demand for
efficient transporting systems across various sectors including public, private and government regulations