The Australia Intelligent Transport System Market is estimated to reach $1,130.2 Million by 2020 at a CAGR of 14.41% between 2015 and 2020.
The report also identifies drivers, restraints,
opportunities, and current trends for the ITS Australia market. Apart from the
market segmentation, the report includes the critical market data and
qualitative information for each technology type along with qualitative
analyses such as the Porter’s five force analysis, industry breakdown analysis,
and value chain analysis.
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ITS Australia market refers to information and
communication technologies applied in transport infrastructure and vehicles for
improved mobility, safety, and sustainability. It improves transport outcomes
and traffic management such as transport productivity, transport safety, travel
reliability, and reduced traffic congestion. Australia Intelligent
transportation systems market report is segregated based on systems,
applications, and territorial regions. Applications in fleet management and
asset monitoring, collision avoidance systems and parking availability systems
are expected to drive the market. This is due to investments by central and
local governments to improve transportation systems and reduce congestion by
adopting new technologies. This report is based on system types such as
advanced traffic management system, advanced traveler information system, ITS-enabled
transportation pricing system, advanced public transportation system, and
commercial vehicle operation.
Major players in the ITS Australia
market include the Thales Group (France), Redflex Holding Ltd. (Australia), Vix
Technology (Australia), Kapsch TrafficCom AG (Austria), and Sigtec Pty Ltd.
(Australia). Several recent expansions and acquisitions, new product launches,
and contracts among other strategies are discussed in the report.
Intelligent transportation systems have successfully
been applied in transportation and traffic management systems. With the demand
for continuous improvement in transportation systems, the ITS Australia
market is expected to have a wide scope of applications in areas such as
fleet management and asset monitoring, traffic monitoring systems, collision
avoidance systems, variable traffic management signs, parking availability
systems and traffic enforcement cameras. Budget allocations by central and
local governments for the same are expected to be one of the drivers for the
growth of the ITS Australia market during the forecast period.
Territory wise, the market has been segmented into
New South Wales, Victoria, Queensland, Western Australia, and the Rest of
Australia. New South Wales accounts for a large market share followed by
Victoria and Queensland. The market in Western Australia is expected to grow at
the highest rate during the forecast period. The Rest of Australia region which
includes cities such as Adelaide and Hobart accounts for a small market share
at present; however, it is expected to grow during the forecast period due to
the increasing requirement of ITS in this region. Hence, the subsequent need
for ITS is expected to rise in Australia.
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Key drivers for the intelligent transportation
systems ecosystem in Australia are increasing government funding and support
and the need to reduce congestion and increase road safety. This market, in
spite of its exceptional demand, has some restraints in terms of its growth;
the key restraints are the lack of interoperability and standardization, and
high installation cost. The demand for smart vehicles and driverless cars can
be a major opportunity for this market.
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