Integrated Traffic System Market: Global Market Size and Forecast 2019-2025

Posted by pranshu@95 on September 10th, 2019

Integrated Traffic System (ITS) is the combination of IT along with communication technology to provide a suitable transportation structure, which is supportive in enhancing the competence of the collective transportation process along with the passenger’s safety. With the increase in the adoption of new transportation management, it is assumed that the new system will likely to reduce the time required to move from one location to another and the overall number of accidents will likely to reduce considerably. Improvement in the mobility of customers and freight will be enhanced by using the ITS. ITS helps to facilitate vehicular movement efficiently along with improvement in the overall safety. Moreover, the ITS collects the data from the CCTV cameras and compiles it to provide more efficiency in traffic management solutions. The information provided is transferred to the traffic controlling agencies, police station, passengers and so on. However, the cost of the overall setup including the installation of CCTV cameras and the cost of traffic management solutions amongst other components might hinder the growth of the ITS industry.

A full report of the Integrated Traffic System market is available athttps://www.omrglobal.com/industry-reports/integrated-traffic-systems-market/

There is significant adoption of an advanced ITS attributing to an increasing number of vehicles on the roads in the urban areas. The increasing number of vehicles on the road has led the demand for smooth and better roads, and congestion-free travel across the globe. Additionally, the number of vehicles per person has increased the problem of traffic congestions due to limited availability of current roads. Traffic monitoring is the very first step to get an idea of the pattern of road traffic. The various attributes of the traffic monitoring system include vehicle detection, automatic number plate detection, over speeding detection, the wrong side moving detection and so on. Emerging economies including India, China, Brazil, and South Africa are in the state of rapid urbanization that has resulted in a continuous increase in the traffic jams, congestions, and other traffic problems. To avoid these traffic jams, congestions and to estimate traffic pattern there is a huge demand for the integrated traffic monitoring system.

Europe currently holds a significant global integrated traffic systems market share followed by North America. This is attributed to the huge increase in the number of passenger and commercial vehicles in this region. For instance, according to the International Organization of Motor Vehicle Manufacturer, in 2018, the sale of passenger vehicles in Europe was around 20 million and the sale of the commercial vehicle was around 3 million. In the European market, Germany and UK have a significant market share in the economy owing to its huge spending capacity in the vehicle segment. Thus, ultimately fueling the demand for the ITS market. For instance, in November 2018, UK government improved the integrated traffic management by introducing 50 new devices to improve the signaling and road safety measures.

Additionally, ITS market in Asia-Pacific is expected to show considerable growth rate owing to the increase in the urban population and increase in the per capita income in economies such as in India and China. For instance, in February 2019, Indian Ministry of Road Transportation and Highway mandated the fitting of vehicle location tracker along with the emergency button for all new public services automobiles registered on or after 1st January 2020 under the rule of 125H of the Central Motor Vehicle Act, 1989. This creates enormous opportunities for the ITS market.

Current Market Trends covered in the Market Report:

  • Europe currently holds the largest market share in the ITS market.
  • ITS market in Asia-Pacific is expected to show the highest growth rate owing to the growth in the urban population.
  • Government of India has made it mandatory to install tracking devices in the new vehicles and these devices can drive the ITS market.

The Report Global ITS Market Segmentation

By Function

  • Traffic Control
  • Traffic Monitoring
  • Information Provisions

By region

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

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pranshu@95
Joined: June 17th, 2019
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