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MARKET OVERVIEW Who are the biggest players in Intelligent Transportation Systems?
While it’s not entirely a new industry, the prevalence of intelligent transportation systems is only set to grow as the number of market players increases and demand grows to connect vehicles to infrastructure.
While autonomous vehicles tend to receive the lion’s share of press when it comes to media coverage of future mobility hardware, less publicized are the infrastructure systems that vehicles will end up communicating with in order to travel faster, smarter, and more efficiently. To many people, the phrase “Intelligent Transportation Systems” (ITS) sounds vague enough that it could mean almost anything. But to those who follow transit technology, ITS is an integral component of the future of mobility.
For now, ITS devices can do things like collect road use data and process toll payments, but in coming years, they’ll be able to intelligently re-route entire flows of traffic, coordinating everything from speed limits to traffic lights to when and where road construction takes place in order to optimize roadway use. ITS has the potential to greatly reduce traffic congestion, decrease road accidents and fatalities, and cut down carbon pollution from vehicle exhaust.