The rising traffic on the roads is propelling the growth of the intelligent transport market in the APAC region!
- Himanshu Patni
- July 28, 2023
- AUTOMOTIVE, NEWS
- Bahrain Intelligent Transportation System Market, Kuwait Intelligent Transportation System Market, Middle East Intelligent Transportation System Market, Oman Intelligent Transportation System Market, Qatar Intelligent Transportation System Market, Saudi Arabia Intelligent Transportation System Market, UAE Intelligent Transportation System Market
- 0 Comments
An Intelligent Transportation System(ITS) is a very distributed set of technologies that, when applied to the current transportation system, can help improve safety, decrease congestion, enhance mobility, reduce environmental impact, save energy, and increases economic productivity basically, they are the interconnection of various information systems designed to capture, communicate, compute, and aid decision-making, enabling proper management of vehicle flow and transportation means with the integration of technologies such as the Internet, electronic data exchange, wireless communications, computer technology, programming, and technologies intended to collect and analyze the necessary information.
Access sample report (including graphs, charts, and figures): https://univdatos.com/report/intelligent-transportation-system-market/get-a-free-sample-form.php?product_id=42391
The Intelligent Transportation System market in the Asia Pacific region held the largest market share with countries like Japan, South Korea, Singapore, and Australia leading in ITS. Owing to reasons like an increase in the number of cities due to the urbanization effect the cities are getting densely populated hence traffic management is getting very difficult, hence countries started implementing ITS, which uses data collection to keep road traffic running safely and smoothly with the installation of ITS systems like electronic road pricing(ERP), expressway monitoring and advisory system, etc. Furthermore, with rising per capita income of the consumers in emerging markets like China and India and with governments’ heavy capital expenditures on the infrastructure of roads, railways, and airports are further going to boost the demand for intelligent transport systems like electronic payments and pricing and traveler information which is also currently deployed in Indian railways where passengers get real-time information about their trains in which they are traveling and the technology keeps on getting more and more advanced. For instance, on March 2023, the center of railway information system(CRIS), has announced a project in collaboration with the Indian Space Research Organization(ISRO), which will enable real-time tracking of train movements with the assistance of satellite imagery under real-time train information system(RTIS) project, Real-time tracking of trains prove to be very useful during accidents, floods, and landslides when there is an urgent need to exactly know the location of the train for rapid response and help. Almost, 4,000 locomotives have been installed with the technology, and new locomotives that are being manufactured come pre-installed with the tracking devices.
APAC Intelligent Transportation System Market Revenue (2020-2028)- USD Mn
For a detailed analysis of the Global Intelligent Transportation System Market browse through – https://univdatos.com/report/intelligent-transportation-system-market/
Based on modes of transport, the market is segmented into Roadways, Airways, waterways, and Railways. Out of all, Roadways ITS and Aviation sector ITS are one of the highest growing segments because of the fact that ITS is an array of technologies that connects the vehicle and the infrastructure with a central control system fulfilling the purpose of improving the flow efficiency of the traffic, reduce congestion on the driveways, prevent accidents which in turn prevents the loss of life or economic losses, and provide drivers with real-time pieces of information on road conditions, weather conditions, etc. Additionally, the system also facilitates motorists with information about hazards and incidents, the speed at which they are driving and does it comply with the laws in the province in which they are in, and provides optimal routes. Moreover, ITS plays a very significant role in the aviation sector as well and many advanced technologies such as artificial intelligence, 5G technology, and edge computing are being used and are in huge demand as they can increase the operational efficiency of the aviation sector. For instance, on February 2023, Rome Fiumicino Airport(FCO), announces the installation of smart tech screening equipment, C3-standard Explosive Detection System Cabin Baggage (EDS-CB) screening equipment – designed by Smiths Detection, that performs CT scans which will enable the customers to now carry liquids even more than 100ml in their hand luggage, as well as computers, tablets, and mobile phones without having to remove them from the luggage making faster, more efficient, and convenient boarding experience.
Based on type, the market is segmented into mobility ITS, safety ITS, and environment ITS. Out of all these the safety ITS is going to grow at a significant CAGR owing to the fact that, one of the main features of the ITS is connected vehicles, and its safety application will enhance the driver’s ability to have 360-degree awareness of hazards and situations that’s happening in the blind spot which they cannot even see. Moreover, through in-car warnings, drivers will be alerted to imminent crash situations, such as close approaching trucks at high speeds, cars in the driver’s blind spot, or when a vehicle ahead brakes suddenly, also with the infrastructure also communicating with the vehicle drivers will be alerted when they are approaching any school zone, if workers are on the roadside, or if an upcoming traffic light is about to change.
Global Intelligent Transportation System Market Segmentation
Market Insight, by Modes Of Transport
- Roadways
- Airways
- Waterways
- Railways
Market Insights, by Type
- Mobility ITS
- Safety ITS
- Environment ITS
Market Insights, by Deployment Type
- Intelligent Infrastructure
- Intelligent Vehicle
Market Insight by Application Type
- Application for transportation management
- Application for supply chain execution
- Application for field force automation
- Fleet and Freight management application
Market Insight, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- APAC
- China
- Japan
- India
- South Korea
- Rest of APAC
- Rest of the World
Top Company Profiles
• Intel Corporation
• Siemens
• MITSUBISHI HEAVY INDUSTRIES, LTD
• Johnson Controls
• Drivewyze
• AECOM
• Sumitomo Electric Industries, Ltd.
• Hayden AI Technologies, Inc.
• CGI Inc
• Clever Devices Ltd
