The value of the global ITS business is set to grow by $90 billion over the next four years, according to a new industry sector market analysis from Argonaut International Consulting.
The report - 2022 Market Analysis: Global Intelligent Transportation Systems and Equipment Sector by System, Type, Detection Technology, Application, Leading Customer and Industry Forecast 2022-2025 - says that the industry was valued at $30 billion last December and is expected to grow to $120 billion by December 2025.
This represents a four-year compound annual growth rate (CAGR) of 24.5%.
Diving down into the figures, the report says the worldwide traffic control electronics manufacturer’s market was valued at $3 billion at the end of 2021 - but is expected to grow to $5 billion by the end of 2025 - a four-year CAGR of 13.6%.
The new $1.2 trillion surface transportation infrastructure funding bill will be a key driver of this in the US, with an estimated $89.9 billion earmarked for the construction of new signalised intersections and the upgrade of existing ones.
Aimed at private equity, venture capitalists and other strategic investors, the 100-page Argonaut report, authored by industry veterans Dr. Bill Sowell and William Russell, contains 50 pages of industry orientation and analysis plus 50 pages of detailed PowerPoint presentations.
It also includes data on firms as Siemens Mobility/ Yunex Traffic, Singapore (ST) Engineering, Kapsch, Swarco, Econolite Group, Cubic ITS, Oriux and Iteris.
For more information on the report, which is available for download, click here