Investorideas.com

Call 800 665 0411 to learn about our services for your stock

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS




Share on StockTwits

The public transport ITS market in Europe and North America to reach € 4.3 billion by 2027

 

Gothenburg, Sweden - March 15, 2024 (Investorideas.com Newswire) Berg Insight, the world's leading IoT market research provider, today released new findings about the market for Intelligent Transport Systems (ITS). The estimated market value for ITS deployed in public transport operations in Europe was € 2.15 billion in 2022. Growing at a compound annual growth rate (CAGR) of 6.3 percent, this number is expected to reach € 2.92 billion by 2027. The North American market for public transport ITS is similarly forecasted to grow at a CAGR of 8.8 percent from € 0.88 billion in 2022 to reach € 1.34 billion in 2027. Berg Insight is of the opinion that the market for ITS in public transport is in a growth phase which will continue throughout the forecast period. Considerable investment is going toward electrification of the public transport fleet, which will require more sophisticated ITS solutions to operate smoothly. In addition, the increasing demands from travellers for convenience and accessible real-time information contribute to a positive market situation. Governments in both Europe and North America view public transport as a prioritised area for investment. The Canadian government has for example announced a CAD 2.75 billion (€ 2.0 billion) investment toward electric buses, school buses and related charging infrastructure between 2021-2026.

A group of international aftermarket solution providers has emerged as leaders on the market for public transport ITS. Major providers across Europe and North America include Canada-based Trapeze Group and Germany-based INIT, which have significant installed bases in both regions. Clever Devices and Conduent hold leading positions on the North American public transport ITS market. The former has expanded into Europe with an acquisition and the latter is an international provider of fare collection systems. Additional companies with notable market shares in North America include Cubic Transportation Systems and Avail Technologies. Siemens Mobility is a prominent vendor of software in both Europe and North America. Examples of major vendors on national markets in Europe include EQUANS and RATP Smart Systems, which hold leading positions in France. IVU is an important player primarily in the German-speaking part of Europe. Vix Technology, Flowbird and Ticketer are moreover major providers on the UK market. Other significant players include the Spanish groups GMV, Indra and Grupo ETRA; French Thales; Atron in Germany; Scandinavian FARA, Pilotfish and Consat Telematics; and Austria-based Swarco and Kontron Transportation. Volvo Group and Daimler are moreover notable players from the vehicle OEM segment, while companies such as Scania, Iveco, Gillig and New Flyer also offer some conventional OEM telematics features for their buses.

"We are increasingly seeing that solutions are developed with standardisation and interoperability in mind. ITS solution providers are now for example commonly requesting labels of compliance from standard organisations" said Caspar Jansson, IoT Analyst at Berg Insight. Interoperability opens up many new possibilities for various stakeholders in the ITS ecosystem. "The standardisation efforts enable public transport agencies to combine competitive solutions from multiple vendors in their networks. The first tenders explicitly requiring equipment to be compliant with the ITxPT standard have now been issued", concluded Mr. Jansson.

Download report brochure: Public Transport ITS in Europe and North America

About Berg Insight

Berg Insight is a dedicated M2M/IoT market research firm based in Sweden. We have been specialising in all major M2M/IoT verticals such as fleet management, car telematics, smart metering, smart homes, mHealth and industrial M2M since 2004. Our vision is to be the most valuable source of intelligence for our customers. Berg Insight offers numerous market reports, detailed market forecast databases and advisory services. We provide custom research tailored to your requirements including focussed research papers, business case analysis, go-to-market strategies and bespoke market forecasting. We have provided analytical services to 1500 clients in 72 countries on six continents to date. Our customers range from many of the world's largest mobile operators, IT companies and telecom vendors, to venture capitalists, technology start-ups and specialist consultants.

For additional information, please contact:

Johan Fagerberg, CEO
E-mail: johan.fagerberg@berginsight.com
Phone: +46 31 711 30 91
Twitter: www.twitter.com/berginsight

More Info:


Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp


That's all it takes to get an article published on Investor Ideas - Learn More





Tech Stocks - Tech Stocks Directory, Tech Stocks News, Research and Resources

Get more Technology stock investor ideas - news, articles, podcasts and stock directories