Advanced technologies in transportation are not new—ITS (intelligent transport systems) can be traced back to the 1960s and 1970s when more basic traffic management systems were first introduced. In the 1980s and 1990s, we began to see more large-scale ITS efforts, integrating GPS, data collection, and more. But, today, ITS is booming around the world.
Berg Insight suggests the estimated market value for ITS deployed in public transport operations shakes out like this:
Europe:
- €2.6 billion in 2025
- €3.3 billion by 2030
- A 5.3% growth rate
North America
- €1.2 billion in 2025
- €1.6 billion in 2030
- A 5% growth rate
Berg Insight is of the opinion that the market for ITS in public transport is in a growth phase, with investment in several areas including
- Electrification of public transport fleet
- Increasing demands from travelers for convenience and realtime information
- Advanced ITS
- Ticketing solutions
- Cybersecurity
The value here is the technologies can monitor and manage city and transportation systems such as traffic flow to reduce congestion, minimize travel time, and lower environmental impact, just to name a few. It will certainly be a trend to watch in the days ahead. #factoftheweek