According to a new research report from the analyst firm Berg Insight, the market value for Intelligent Transport Systems (ITS) deployed in public transport operations in Europe was € 1.03 billion in 2014. Growing at a compound annual growth rate of 7.2 percent, this number is expected to reach € 1.46 billion by 2019.
Berg Insight is of the opinion that the European market for ITS for public transport is in a growth phase which will continue throughout the forecasted period. The fluctuating economic climate has in most countries had limited effect on this market as the public investments which underpin a major part of the ITS initiatives have remained stable throughout the periods of crisis in most countries. A group of international aftermarket solution providers have emerged as the leaders on the European market for public transport ITS. Among the dominant providers stand a few ERTICO Partners, including Swarco and Volvo Group.
Original source: Berg Insight
Image source: Andrew Nash (Flickr)
