European ITS market to reach EUR 1.5 bn by 2016, says study

European ITS market to reach EUR 1.5 bn by 2016, says study

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Sweden: The market value for Intelligent Transport Systems (ITS) deployed in public transport operations in Europe was EUR 0.76 billion in 2011. Growing at a compound annual growth rate of 15 per cent, this number is expected to reach EUR 1.5 billion by 2016, according to a new research report from the analyst firm Berg Insight.

Berg Insight is of the opinion that the European market for ITS for public transport is in a growth phase which will last for several years to come. The fluctuating economic climate has in most countries had little effect on the market as public investments that underpin a major part of the ITS initiatives have remained stable throughout the periods of crisis. The vendor landscape for public transport ITS consists of a variety of actors.

The companies INIT, Trapeze Group and IVU have emerged as leaders in Europe, having broad product portfolios and large numbers of installed systems in many countries. There are also local players with considerable market shares on regional markets in Europe, including Ineo Systrans and Vix. Another group of vendors are focused on specific parts of complete ITS such as specialised hardware units or software applications.

”The public transport ITS market in Europe is favoured by several concurrent developments, including UITP’s sought-after doubling of the public transport ridership, the EBSF EU project, and generally higher expectations among travellers”, said Rickard Andersson, telecom analyst, Berg Insight. “Increasingly sophisticated solutions for traffic management and passenger information are available which – if implemented correctly – eventually can put public transport on par with private transportation modes in terms of travelling times and flexibility,” he added.

Source: Berg Insight