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Intelligent transport systems could earn $1.5 billion a year

Intelligent transport systems could earn $1.5 billion a year

Intelligent transport systems could be a sunrise tech industry for New Zealand, earning up to $1.5 billion a year, a new industry report has found.

Unlocking commercial opportunities from intelligent transport systems is a call to action for both business and the Government, recognising the enormous potential for developing and manufacturing intelligent transport systems such as self-driving cars and drones in New Zealand.

The report calls for greater collaboration between the Government and business to unlock innovation and export growth around ITS technology and services. Data sharing greater R&D, the upskilling of regulators, and aligning education and skills training with our future needs are also recommended.

Chair of the Intelligent Transport Systems Advisory Group David Prentice says New Zealand is a good location for the new industry because of our growing high tech manufacturing sector, experience in manufacturing niche component parts, and reputation as a test bed for new technologies and world class connectivity.

"We want to grow business out of providing solutions to global problems - there is growing demand worldwide to solve problems such as congestion and emissions which intelligent transport systems can help address."

Products already produced in New Zealand include GPS systems, drones, robotic port cranes, airport baggage handling systems and wireless charging technology, and there is emerging export potential for this sector.

Mr Prentice says the report highlights the potential for New Zealand to respond to global demand and become a first mover in an innovative, high-growth industry that is set to transform transport throughout the world.

"Intelligent transport systems have the potential to significantly improve traffic flows, reduce road congestion, increase logistics productivity, lower transport emissions and improve the safety and efficiency of personal travel.

"Businesses already operating in the tech sector and new businesses looking for growth opportunities should consider the economic and social benefits to be gained from moving into this new area.

"And the business community wants to continue working with Government to develop policies that will allow an ITS ecosystem to flourish and help business and transport system users address our local transport challenges and compete on the world stage."

-Unlocking commercial opportunities from intelligent transport systems Deloitte Access Economics 2018 was commissioned by Airways, Amazon Web Services, , BusinessNZ, Ericsson, Foodstuffs, Fujitsu, Fulton Hogan, HMI Technologies, KiwiRail, Microsoft, Ministry of Business, Innovation and Employment, the Ministry of Transport, NZ Transport Agency, Spark, NZ Tech Futures and WSP Opus.
ENDS

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