A new report by Global Industry Analysts predicts that the World ITS market is forecast to maintain a high CAGR of 11.6 per cent over 2000-2010 and reach US$12.5 billion in 2010. The US constitutes the largest market for ITS, with an estimated share of about 40 per cent in 2007, while Europe had sales of about US$2.5 billion in 2006. In terms of segment, the advanced traffic management systems (ATMS) market, expected to account for an estimated 41.3 per cent share in 2007, represents the largest segment, while electronic toll collection systems (ETC)Â is the fastest growing segment, with a CAGR of 17 per cent over 2000-2010.
Rising impetus for enhancing road safety and escalating socio-environmental and economic implications of traffic congestion worldwide are the key rationale for investments in intelligent transportation systems. These are likely to remain strong growth propellants for the sector in the forthcoming years.
With a broad market vertical encompassing numerous technology and application developing companies innovating a diverse range of complementary products and integration platforms, Global Industry Analysts believes the industry is likely to witness a wealth of strategic technological and product development alliances attempting to buck up the mushrooming popularity of intelligent transportation worldwide. Given the overwhelmingly shrunk development cycles, enormous costs of research and design, and evolving multiplicity of complementary technologies, alliances are emerging as the only way to cash in on the fast rising opportunity, without entailing big-ticket investments, both in terms of time and money.
Global Industry Analystsâ€™ research report titled Intelligent Transportation Systems: A Global Strategic Business Report, analyses market trends for key regions such as the United States, Europe, Japan, and Rest of World (Canada, Asia-Pacific, Latin America, and the Middle East). Product segments analysed by value include; ATMS, ETC, systems, public vehicle transportation management systems (PVTMS), commercial vehicle operations (CVO) systems and other intelligent transportation systems (including advanced vehicle information systems).
The report discusses the prevailing trends, new product developments, consumption patterns, demand forecasts, mergers, acquisitions, and other strategic industry activities affecting the ITS industry, and is an easy guide to What, Why, When, How, Where, and Who of the industry.
DATED: 4th December 2007