Intelligent Transport Systems (ITS) find a wide range of applications, especially in the public sector domain and government organizations, all over the world. They have helped many countries to efficiently manage their traffic systems, achieve emission targets and save money. Out of all the applications, listed below are the top three, which are highly beneficial for sustainable development:
1. Traffic Management
ITS deployment is key to exploiting efficiency in traffic management. The effectiveness of the system that is helpful in the alleviation of congestion and consequent shortening of travel durations by offering real-time traffic information to drivers on the road has improved traffic outcomes in several areas of deployment. South Korea, one of the most prominent users of ITS for traffic management, reported that ITS services had helped them to increase their average speed of traffic by 15 to 20% in the recent years. Such outcomes are benefiting the governments through rising trust in citizens to make use of public transport for a convenient commute. The improved traffic efficiency can also enable transportation authorities to respond promptly to traffic incidents and ensure safety round the clock by keeping the citizens informed about potential dangers along the route.
2. Carbon Emission
ITS deployment conveys traffic efficiency, flexibility to grow, and encourages the use of public transport. This is very helpful in reducing in CO2 emission and other airborne pollutants. It is estimated that transportation is the primary cause of CO2 emissions. Data from 2017, CO2 Emission from Fuel Combustion report by the International Energy Agency (IEA) suggests that transportation accounts for more than 24% of energy consumption related to CO2 emission, with a huge share of total CO2 emissions in the sector coming from road traffic. With global initiatives taken by several international bodies and technological innovations to improve fuel consumption, the carbon emissions from transport are expected to decline by at least by 12% by 2020. To achieve this target, IoT technologies, like ITS, are expected to play a vital role. It is estimated that an Integrated ITS system that supports individual vehicles can yield an estimated 15% reduction in carbon emissions. Such applications are highly helpful for sustainable development.
3. Economic Value
ITS deployment improves the productivity in utilizing the transport infrastructure. It plays a crucial role in optimizing the use of existing infrastructure and transportation systems. It is a critical component for refining efficiency in moving both people and freight, which tends to benefit overall economic activity and productivity. ITS technologies make use of cargo tracking systems in coordination with the global positioning system (GPS) in order to eliminate unnecessary mileage. Hence, integrated co-operation between logistics and road traffic management can enhance the productivity of logistics and transport businesses.
Reportedly, the usage of ITS in such combination has yielded Scandinavian logistics industry a reduction of 15% in freight movement. ITS systems, also require skilled labor for seamless functioning. This makes ITS systems a key component in the generation of jobs in any given economy. In case of the United States, the Department of Transportation has forecasted that more than 60,000 jobs will be created with respect to ITS over the next 20 years. Such colossal job creation, in case of developing countries, can also contribute to poverty reduction and help sustainable development in a particular country.
The report also examines the role of the leading market players involved in the industry.
Some of the key players listed in the study are:
Garmin International Inc.
Lanner Electronics Inc.
About the Market
As per Mordor Intelligence’s analysis, the global intelligent transport systems market was valued at USD 20.47 billion in 2017 and is estimated to reach USD 27.80 billion by 2023, registering a CAGR of 5.02% over the forecast period of 2018-2023.