Intelligent transportation system is an
advanced form of transportation system designed for improving safety,
security and efficiency in transportation network. Intelligent
transportation system is an integration of communication system along
with information technologies in transportation system. Reducing
transportation network expansion space and increasing number of
vehicles in metropolitan areas increases pressure on transportation
authorities for improving performance of existing transportation
network.
Intelligent
transportation system market in expanding rapidly. Increasing
concern about traffic congestion, increasing need of road safety
improvements and increasing government support are the major factors
driving the growth of global intelligent transportation system
market. On the other hand, high cost of installation, lack of
interoperability among intelligent transportation system and existing
infrastructure are some of the factors restraining the growth of
global intelligent transportation system market.
Global intelligent transportation system
market is segmented on the basis of components, types, and
application. On the basis of components, the global intelligent
transportation system market can be segmented into surveillance
camera, interface board, monitoring & detecting system,
telecommunication network, software and others.
On the basis of types, the global
intelligent transportation system market can be segmented into
advanced traveller information system (ATIS), advanced traffic
management system (ATMS), advanced transportation pricing system
(ATPS), advanced public transportation system (APTS) and commercial
vehicle operations. Out of all these types, present intelligent
transportation system market is dominated by advanced traffic
management system and expected to remain dominant throughout the
forecast period. Rising demand of traffic control solution specially,
the adaptive signalling system across world expected to drive this
market growth. On the other hand advanced public transportation
system segmented expected to grow rapidly during the forecast period
due to increasing investment in electric toll collection and dynamic
display system by public transportation operators.
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On the basis of application, global
intelligent transportation system market can be segmented into
traffic management, freight management, traffic signal control
system, parking management system, automotive telematics and others.
Out of all these applications, present global intelligent
transportation system market is dominated by traffic management
applications due to increasing investment from governments across
world in traffic reducing solutions. However automotive telematics
segment expected to witness high growth potential during the period
of forecast. Increasing adoption of vehicle manufacturers for
competitive product offering expected to boost this market growth.
Furthermore, automotive telematics is also installed in vehicles by
vehicle manufacturers for real time travelling information.
On the basis of region, the global
intelligent transportation system market can be segmented into seven
regions which includes, North America, Latin America, Western Europe,
Asia-Pacific (excluding Japan), Eastern Europe, Japan and Middle East
& Africa region. At present, North America held the largest share
of global intelligent transportation system market. However,
Asia-Pacific is expected to be the fastest growing region during the
period of forecast.
Developed countries such as U.S., U.K.
and Japan market have invested heavily of intelligent transportation
system. Interoperability is a major challenging factor for deployment
of intelligent transportation system hence, North America, Western
Europe, Japan and several countries from Asia-Pacific region are
focusing more on developing mandatory standards for improving
interoperability of intelligent transportation system. In future,
developing countries such as India and Brazil have expected to
increase their investment in intelligent transportation management
system.
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