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 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.
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.