According to a new market research report "Intelligent Transport Systems (ITS) Market - Trends, Adoption & Worldwide Forecasts (2012 - 2017) published by MarketsandMarkets, the total market is expected to reach US$24.75 billion by 2017, at a CAGR of 12% between 2012 and 2017.
The term ITS refers to the integration of the information and communication technology to improve the transportation...
According to a new market research report "Intelligent Transport Systems (ITS) Market - Trends, Adoption & Worldwide Forecasts (2012 - 2017) published by MarketsandMarkets, the total market is expected to reach US$24.75 billion by 2017, at a CAGR of 12% between 2012 and 2017.
The term ITS refers to the integration of the information and communication technology to improve the transportation network related to the railways, roadways, airways, and marine transport. The major focus of the government is towards the improvement of the road transportation due to the increasing number of road accidents and congestion in almost all the countries.
Increasing mobilization from the rural to urban areas is one of the major reasons behind the increasing number of vehicles on the roads, which causes traffic problems as well as pollution. "ITS" is the best solution to all the problems on the road.
This report describes the various systems of ITS such as advanced traffic management system (ATMS), advanced traveler information system (ATIS), ITS-enabled transportation pricing system (TPS), advanced public transportation system (APTS) and commercial vehicle operation (CVO). Out of all the above types, ATMS, APTS and ITS-enabled TPS are most commonly deployed systems.
This report also covers the major applications of the ITS on the basis of the different functions performed by the various ITS systems. The major applications of ITS described in this report are fleet management and asset monitoring, traffic monitoring, collision avoidance system, traffic signal control system, variable traffic message signs, parking availability system and traffic enforcement cameras. Traffic monitoring, variable traffic message signs and traffic signal control system are the major applications of the ITS market. The application of collision avoidance system is in the niche stage in the present scenario but it is expected to grow at a rapid rate in the coming five years. The major reason behind the growth of collision avoidance system is to improve the communication technology between vehicle to vehicle and vehicle to infrastructure.