Making a Business Case for Intelligent Transport Systems: A Holistic Business Model Framework

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Making a Business Case for Intelligent Transport Systems: A Holistic Business Model Framework

Giannoutakis, Konstantinos N. / Li, Feng

Intelligent transport systems (ITS) are technologies, applications and systems for accident warnings, reduction of driving workload, congestion avoidance and traffic management. The infrastructure also opens up opportunities for new digital services to users and for new ways of managing and maintaining transport infrastructure. Despite the significant potential benefits identified by previous research since the 1980s, the market for ITS has so far failed to take off, and a robust business case for the full-scale development of ITS remains absent. This is important because the potential benefits of ITS can only be realized if the technologies and services are widely used. Today, many ITS are still too expensive to purchase and install, often requiring substantial upfront investment, but the returns could take many years to materialize. This paper will provide a systematic overview of previous research on ITS and propose a holistic business model framework to help make a business case. This is still a rapidly evolving area, and a new research agenda will be discussed.