18 November 2013
The market value for Intelligent Transport Systems (ITS) deployed in public transport operations in Europe was EUR 0.94 billion in 2012. Growing at a compound annual growth rate of 9 percent, this number is expected to reach EUR 1.44 billion by 2017, according to a research report from Berg Insight. The European market for ITS for public transport is in a growth phase which will continue throughout the forecasted period. The local markets in southern Europe which have been affected to a greater extent by decreasing investments are expected to recuperate in the near term.
The companies Trapeze Group, INIT 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 in France and Vix in the UK. Other notable providers on the European market offering broad portfolios include the Spanish groups GMV, Indra and Grupo Etra, Swarco’s subsidiary Swarco Mizar in Italy, the Norwegian provider FARA and the Belgium-based company Prodata Mobility Systems.
Another group of vendors are focused on specific parts of complete ITS such as specialised hardware devices or software applications. The European market for public transport ITS is expected to develop favourably in the upcoming years, spurred by developments on both national and EU level. Public investments in ITS are set to grow in many regions at the same time as international initiatives such as the EBSF EU project and EBSFsought-after doubling of the public transport ridership are anticipated to boost industry activity.
The global trend of smart city initiatives is furthermore a major driver as intelligent transport systems in general and public transport ITS in particular are key elements to enable smart mobility. Third-party developers are in the future expected to contribute greatly to new services for passengers by leveraging the data sets generated by public transport ITS.
Priginal Article: http://www.telecompaper.com/news/european-market-for-its-to-exceed-eur-14-bln-by-2017–980267