Radio modems for intelligent transportation to see 8.9% CAGR
Intelligent transportation systems have been constantly evolving over the decades due to rapid technological advancements. ITS encompass a broad range of wireless and wireline communications-based information and electronics technologies.
ITS technology-based systems are intended to facilitate the realization of optimized, efficient, smooth, and comfortable transport systems to improve traffic flow and reduce bottlenecks of traffic congestion. These systems integrate modern information and communication technology into existing transportation systems.
The demand for radio modems in ITS is increasing because radio modems require minimal infrastructure for facilitating communication and ensuring delivery of data, voice, and video in the most cost-effective and reliable manner.
Radio modems are also useful in data communication within a large geographic area, where wired data communication is not viable due to high costs involved. Radio modems are also required to facilitate ITS for implementing wireless networks that are cost-effective and flexible.
The government and defense vertical is expected to contribute the largest market share to the radio modem market. Banking, financial services and insurance (BFSI) sector is expected to grow with the highest rate from 2015 to 2020, in the radio modem market for ITS applications. The market is also projected to witness growth in healthcare and IT and telecom sectors during the forecast period.
The regulatory-driven activities and initiatives taken by the government of the U.S. and Canada have enabled the ITS market for advanced traffic management system applications in North America to be the highest revenue generator as of 2015. Some of the major organizations such as the U.S. Department of Transportation, Research and Innovative Technology Administration (RITA), ITS America, and others are focusing towards new research and development initiatives in the field of ITS.
North America is expected to have the largest market share and dominate the market from 2015 to 2020. The U.S. is the major driving factor for the growth of this regional market. Use of four wheeler and heavy vehicles is very high in North America. Thus, the requirement of an effective transportation system is very high in North American countries.
In 2014, North America ranked first in the deployment of various ITS systems such as advanced transportation management system, advanced traveler information system, ITS-enabled pricing system, and commercial vehicle operation, among others. APAC is the fastest-growing market in terms of deployment of intelligent transportation systems. Factors such as economic growth, rising incomes, and growth of population in urban areas, are expected to cause alterations with respect to transport issues.
Some of the key players in the radio modem market for ITS application covered in this report are Adeunis RF (France), Arada Systems, Inc. (U.S.), ATIM Radiocommunications (France), Autotalks Ltd. (Israel), B&B Electronics Manufacturing Co. (U.S.), Campbell Scientific Inc. (U.S.), Cohda Wireless (Australia), Kapsch TrafficCom AG (Austria), Motorola Solutions, Inc. (U.S.) Q Free ASA (Norway), Satel Oy (Finland), Schneider Electric SE (France), Wood & Douglas Limited (U.K.), among others.