The growing traffic congestion, increasing environmental pollution, and growing need to improve road safety are the key growth drivers in the global intelligent transportation system market. Ozone, nitrogen, particulate matter, and sulphur are some of the major substances causing environmental pollution. The advanced in-vehicle intelligent transportation system technologies, such as on-board diagnostics, intelligent speed adaptation, and advanced cruise control offers substantial environmental benefits in terms of fuel efficiency, which is further reducing the local air pollutants and carbon emissions.
The steps for making public transportation more effective and convenient with the deployment of dedicated bus lanes and prioritizing bus passages at traffic signals, encourages most of the consumers to shift from their private car to public transport. The solutions provided by ITS, such as management information systems, improved bus patronage, and passenger information systems provides environmental benefits. ITS also supports the increasing adoption of low polluting vehicles and reduces emissions through low emission zones and congestion charging.
North America dominates the global ITS market, due to various research and development activities carried out within intelligent transportation by the Intelligent Transportation Society of America. The organization is also active in the deployment of intelligent transportation system, in order to improve the surface transportation system across the U.S. The intelligent transportation system market in Asia-Pacific is expected to grow with the highest rate in the coming years, due to supportive government initiative towards the implementation of ITS across several developing countries.
According to a report published by the China Intelligent Transportation Systems Association, the country is expected to build its own ITS by the end of 2015. With the considerable improvement of the transportation infrastructure in China, the government is focusing on efficient, effective, and environmental friendly transportation programs. For this, intelligent transportation systems are their first choice, as it fulfills the requirements of such transportation programs.
The intelligent transportation system uses wireless communication for providing network connectivity to the vehicles. The improving standardization in wireless communication technologies is supporting the growth of the global intelligent transportation system market. The corporate and academic institutions are guided to develop standards for wireless systems, due to the rapid increase in adoption of wireless communications for the intelligent transportation system.
The lack of interoperability and standardization is restraining the growth of the ITS market. Standardization is essential for addressing interoperability at various levels in the intelligent transportation system infrastructure. The integration of ITS require interoperability and compatibility of systems, in order to maintain effectiveness of the system. Globally, there are several intelligent transportation system applications, but the market is still fragmented due to lack of coordinated framework for their deployment. Thus, ITS applications fail to yield maximum benefits to the end users. In Europe, developments such as e-Safety have led to the i2010 Intelligent Car Initiative. The i2010 aims to ensure interoperability across different European countries, and increase awareness among decision makers and consumers about the potential benefits of information and communications technology based solutions.
The major companies operating in the global ITS market include Thales SA, Kapsch TrafficCom AG, TomTom International BV, Nuance Communications Inc., Q-Free ASA, Denso Corporation, Efkon AG, TransCore LP, and Savari Inc.
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