Intelligent Transportation System (ITS) market is projected to surpass USD 34 billion by 2025. The market growth is attributed to the various government-led investments for smart city development and rise in the number of vehicles demanding smart mobility solutions. Growing investments in smart city development projects will foster the adoption of smart transportation solutions to regulate the traffic flow in cities. ITS solutions allow users to make better use of transportation systems and also provide ways for the development of smarter infrastructure. Also, the adoption of IoT is transforming the transportation industry by automating airways, roadways, waterways, and railway transportation systems to provide better passenger experience. The IoT platforms facilitate better operation & control, traffic planning, and passenger information management. For instance, rail operators are implementing smart digital platforms and replacing legacy infrastructure with new train control systems powered by IoT and big data analytics. An increase in the adoption of sensors in trains and along tracks facilitate monitoring and data collection in real-time.
In the maritime ITS market, tracking and monitoring systems held a major market share of over 35% in 2018 and are expected to maintain a dominant position in 2025. Tracking and monitoring systems provide marine operators with valuable information for taking marine operational decisions in real-time. They deploy these systems to obtain real-time information on full wave water spectrum, including wind profiling, temperature, pressure, and humidity. As marine companies are widely using them to monitor the ships position, location, and other details, the demand for ITS in marine will increase over the forecast period.
Companies operating in the ITS market are investing in their R&D labs for the development of new ITS. For instance, in March 2018, Huawei opened a new innovation lab at Gurugram to develop smart city solutions including smart lighting, smart metering, and smart parking solutions. Also, these companies are focusing on large-scale ITS deployments in collaboration with governments and municipal authorities to improve roadside safety and traffic management systems. In January 2018, a Chinese company, Didi Chuxing, along with Chinese traffic management authorities, launched a smart city traffic management solution, DiDi Smart Transportation Brain. This product has been adopted by more than 20 Chinese cities, facilitating real-time data through AI and cloud computing technologies.
Roadways ITS is expected to hold a majority share of the ITS market due to a growing number of vehicles, which has resulted in increased road traffic and congestion. A rise in the number of road fatalities has also contributed to the adoption of ITS solutions. According to the Annual Accident Report, 2017, by the European Union (EU), road traffic accidents in EU member states claimed 26,100 lives and left over 1.4 million people injured in 2015.
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Wireless monitoring uses the same Wi-Fi technology as home or business networks. The major growth driver of Wireless Monitoring and Surveillance Market includes growing demand for better & more cost-effective security management, fast-moving growth of network video market and new strict government initiatives on technology compliance among others.
The global Wireless Monitoring and Surveillance market is valued at xx million US$ in 2018 is expected to reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025. This report focuses on Wireless Monitoring and Surveillance volume and value at global level, regional level and company level. From a global perspective, this report represents overall Wireless Monitoring and Surveillance market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan. At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.
The following manufacturers are covered:
Honeywell, Axis communications, Bosch security Systems, Cisco systems, Micropower Technologies, Pelco, Aruba Networks, Panasonic Corporation,