Rapid Unit Sales of Intelligent Transportation System (ITS) Market to Generate Incremental Revenues

Recently, industry players have been adopting various strategic initiatives to expand their presence in leading regions, which has been favorable for the global business landscape. For instance, in July 2021, Velodyne Lidar, the Silicon Valley lidar tech company, announced that it had joined the NVIDIA Metropolis program, wherein it would leverage its intelligent infrastructure solution for traffic monitoring and analytics.
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NVIDIA Metropolis has been devised to bring a new generation of solutions and applications to improve the safety and efficiency of the world's most crucial spaces and operations through advancements in AI vision. Velodyne's solution would integrate the potent capabilities of NVIDIA's Jetson AGX Xavier embedded module into its edge AI computing system.
This would allow Velodyne to operate the solution's 3D perception software to detect all road users, including automobiles, cyclists, and pedestrians, in real time. The company's intelligent infrastructure solution pilot project is slated to deploy in Austin, Texas, where it would evaluate traffic conditions and identify proactive safety measures that could save lives.
Furthermore, governments are increasingly investing in modernization of regions, thereby facilitating business expansion. To cite an instance, in July 2021, Cary, North Carolina, introduced a £2 million (~USD 2.7 million) project to support the upgradation of its traffic control system with the latest IoT and smart cities technology to enhance safety and optimize efficacy and responsiveness of traffic for all users. One of the technology providers in the project is Applied Information, a developer of smart cities, intelligent transportation system (ITS), and connected vehicle solutions that are designed to save lives, drive commerce, improve traffic, and help the environment.
The intelligent transportation system (ITS) market has been categorized in terms of mode of transport and region. With respect to mode of transport, the market has further been categorized into roadways, railway, marine, and airways.
The intelligent transportation system (ITS) market from the marine sub-segment is estimated to grow at a considerable pace to reach a sizable valuation by the end of 2027. Mounting demand for connected solutions that help in obtaining the precise location of vessels to avoid collisions is projected to contribute to segmental growth over the following years.
In the regional landscape, the Europe intelligent transportation system (ITS) market garnered a notable revenue in 2020 and is calculated to expand at a steady pace over 2021-2027. The modernizing railway infrastructure in Europe is speculated to foster regional market growth in the coming years.
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In 2020, Middle East & Africa held a significant share in the overall market revenue and is anticipated to progress at a substantial pace through the assessment timeframe. Surging prevalence of transportation infrastructure development projects is promoting the adoption of smart solutions in the region, which is likely to boost MEA intelligent transportation system (ITS) market expansion in the future.
Report Content
Chapter 1   Methodology & Scope
1.1    Scope & definitions
1.2    Methodology & forecast parameters
1.3    COVID-19 impact
1.3.1    North America
1.3.2    Europe
1.3.3    Asia Pacific
1.3.4    Latin America
1.3.5    MEA
1.4    Data sources
1.4.1    Secondary
1.4.2    Primary
Chapter 2   Executive Summary
2.1    ITS industry 360º synopsis, 2017 - 2027
2.1.1    Business trends
2.1.2    Regional trends
2.1.3    Mode of transport trends
Chapter 3   ITS Industry Insights
3.1    Industry segmentation
3.2    Impact of coronavirus (COVID-19) pandemic
3.2.1    Global outlook
3.2.2    Regional outlook
3.2.2.1    North America
3.2.2.2    Europe
3.2.2.3    Asia Pacific
3.2.2.4    Latin America
3.2.2.5    MEA
3.2.3    Industry value chain
3.2.3.1    Raw material suppliers
3.2.3.2    Manufacturers
3.2.3.3    System integrators
3.2.4    Competitive landscape
3.2.4.1    Strategy
3.2.4.2    Marketing
3.2.4.3    Distribution channel
3.3    Industry ecosystem analysis
3.3.1    Raw material suppliers
3.3.2    Component suppliers
3.3.3    Manufacturers
3.3.4    Technology/software providers
3.3.5    System integrators
3.3.6    Service providers
3.3.7    Government agencies
3.3.8    Financial authorities
3.3.9    Vendor matrix
3.3.9.1    Raw material suppliers
3.3.9.2    Component suppliers
3.3.9.3    Manufacturers
3.3.9.4    Technology/software providers
3.3.9.5    System integrators
3.3.9.6    Service providers
3.3.9.7    Government agencies
3.3.9.8    Financial authorities
3.4    Architecture analysis
3.5    Technology & innovation landscape
3.5.1    Impact of Blockchain
3.5.2    Cloud computing and IoT
3.5.3    RFID
3.5.4    Wi-Fi connectivity
3.6    Regulatory landscape
3.6.1    North America
3.6.2    Europe
3.6.3    Asia Pacific
3.6.4    Latin America
3.6.5    MEA
3.7    Industry impact forces
3.7.1    Growth drivers
3.7.1.1    Government funding and PPP models
3.7.1.2    Demand for Pay-as-you-go ticketing service among commuters in Europe and North America
3.7.1.3    Rise in favorable government initiatives for effective traffic management in North America and Asia Pacific
3.7.1.4    Growing investment in railway infrastructure in Europe
3.7.1.5    Rapidly growing urbanization and rising smart city projects in Asia Pacific
3.7.1.6    High adoption of wireless technologies in transportation industry in MEA
3.7.1.7    Expansion of transportation industry in Latin America
3.7.2    Industry pitfalls & challenges
3.7.2.1    High installation cost and data complexity issues
3.7.2.2    Integration complexities with legacy systems
3.7.2.3    High cost of maritime equipment
3.8    Growth potential analysis
3.9    Porter’s analysis
3.9.1    Supplier power
3.9.2    Buyer power
3.9.3    Threat of new entrants
3.9.4    Threat of substitutes
3.9.5    Internal rivalry
3.10    PESTEL analysis
3.10.1    Political
3.10.2    Economical
3.10.3    Social
3.10.4    Technological
3.10.5    Environmental
3.10.6    Legal
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