The Size, Structure and Characteristics of Finland’s ITS Industry
- 1 VTT Technical Research Centre of Finland, Oulu, Finland
- 2 VTT Technical Research Centre of Finland, Oulu, Finland
Abstract
Intelligent transport systems (ITS) are seen as a high-growth segment within the transport sector, as information and communication technologies (ICT) push their way through different industries. ITS products and services has been developed, and its myriad benefits has been introduced which are promising for new business opportunities and investors. Its economic importance has also been recognised as well and many analyst reports show significant growth projections for the ITS market as a whole. This paper attempts to make the first quantitative and empirical analysis of the ITS industry in Finland. The Finnish ITS market had a significant growth in 2007 but has since then been very slowly been turning upwards from the negative growth observed in 2008 and 2009. The fast growing firms have clearly been showing good growth, whereas the weakest performers seem to have a continuous declining trend. The Finnish ITS supply market had an aggregate turnover of approximately € 300 million and around 1700 employees in 2010.
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