Navigant Research Expects Global Revenue for Advanced Intelligent Transportation System Solutions to Reach $17.5 Billion by 2026

Solutions such as real-time traffic management and multimodal
systems integration provide a more comprehensive approach to planning
and managing city transportation, report finds

BOULDER, Colo.–(BUSINESS WIRE)–#Cities–A new report from Navigant
Research analyzes the state of the global market for advanced
intelligent transportation system (ITS) solutions, providing market
forecasts, broken out by segment and region, through 2026.

Innovative and forward-looking cities, particularly those in Europe and
Asia Pacific, are looking toward ITSs for a more sophisticated and
comprehensive method for planning and managing transportation. The
concept of Internet of Things (IoT), as well as the advent of near
ubiquitous connectivity and embedded intelligence, is enabling cities to
implement active traffic management, more sophisticated traveler
information services, and solutions that provide single access to a
range of transportation modes. Click
to tweet: According to a new report from @NavigantRSRCH,
the global market for advanced ITS solutions is expected to grow from
$6.6 billion in 2017 to $17.5 billion in revenue by 2026.

“Cities increasingly have access to multiple data streams across the
entire transportation ecosystem,” says Lisa Jerram, principal research
analyst with Navigant Research. “This is creating opportunities for much
more sophisticated transportation planning and management services that
can optimize travel in and around cities.”

Though ITS benefits are apparent, the deployment of such systems can
prove challenging for public agencies because it requires integrating
the systems with legacy infrastructure. Service providers face
challenges, as well, as they need to be able to aggregate and analyze
data from a wide range of devices, according to the report.

The report, Intelligent
Transportation Systems, examines the state of the global market
for advanced ITS solutions such as real-time traffic management,
multimodal systems integration, traveler information systems and road
pricing schemes. The study analyzes the key drivers and barriers to
adoption, examining the key advanced ITS applications, as well as the
competitive landscape. Global market forecasts, broken out by region,
extend through 2026. Forecasts are also segmented by infrastructure and
software and services. An Executive Summary of the report is available
for free download on the Navigant
Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
report, Intelligent Transportation Systems, is a summary and
reflects Navigant Research’s current expectations based on market data
and trend analysis. Market predictions and expectations are inherently
uncertain and actual results may differ materially from those contained
in this press release or the report. Please refer to the full report for
a complete understanding of the assumptions underlying the report’s
conclusions and the methodologies used to create the report. Neither
Navigant Research nor Navigant undertakes any obligation to update any
of the information contained in this press release or the report.

Contacts

Navigant Research
Lindsay Funicello-Paul, +1-781-270-8456
[email protected]