Intelligent Transportation System and Solution

 

Intelligent transportation solution provides real-time traffic statistics that helps in solving problems associated with traffic congestion. The system fetches information from sensors that analyze vehicle speed, pre-emption alarms, traffic signals, and other traffic-related data.  Road safety and surveillance, traffic management, public transport, environment protection, freight management, automotive telematics, and parking management are some of the application areas of intelligent transportation solutions.

Growing concern regarding the public safety and increasing traffic congestion is driving the market growth of the intelligent transportation system. The growing need for effective traffic management in order to reduce the traffic is again fueling market growth. Moreover, the increasing adoption of the intelligent transportation system for real-time traffic information as it helps in resolving growing traffic congestion is also propelling the market growth of the intelligent transportation system. The growing focus of manufacturers to create awareness regarding traffic management will further favor market growth in the near future. For instance, in July 2020, Huawei conducted an online summit of the Intelligent Traffic Management Solution with the theme of "Transform the Way We Move” to address challenges on traffic law enforcement, traffic violation inspection, and traffic control with advanced technologies including big data, AI, cloud, 5G, and more.

From the geographical point of view, North America is expected to gain significant growth over the forecast period and this is attributed to the strong presence of IT & software companies coupled with the rapid adoption of intelligent transportation systems across the region. According to the International Trade Administration, the United States has the most advanced software and information technology (IT) services industry in the world. More than 40 percent of the $5 trillion global IT market is in North America, primarily the United States and there are more than 525,000 software and IT services companies in the United States and around 40,500 tech startups were established in 2018 alone.

Key Developments:

1.      In June 2020, SINTRONES, a provider of computing technology in vehicles, announced the launch of the new ABOX-5210G. The new product is powered by AI GPU computing, Intel Gen 10 Core i9, with NVIDIA GPU technology and incorporates numerous unique features to support AIoT (AI and IoT) on Smart Cities and IIoT (Intelligent IoT) on Transportation.

2.      In July 2020, NEC Technologies India, a wholly-owned subsidiary of Japanese technology company NEC Corporation, has partnered with Urban Mass Transit Company (UMTC) to develop intelligent mobility solutions in rural and urban India.

3.      In April 2020, FITSCO (Shanghai Fuxin Intelligent Transportation Solutions Co.) and Cognitive Pilot, have signed a contract to develop an AI-based computer vision system for urban trams with the possibility of autonomous control and movement.