Economic Value of ITS Study

ITS UK has published a new economic study setting out the size and impact of the intelligent transport sector in the UK.

ITS is a vital industry for the country. It provides seamless travel for millions, supports the decarbonisation of the network, improves safety for those using the transport system and improves efficiency. And now, following a new report by Capital Economics, we know its economic impact too.

The Findings

The report reveals that the sector:

Delivers £3.2 billion in economic value (GVA), more than double ITS UK’s previous estimate of £1.5 billion;
Supports 45,000 jobs with roles being highly productive. The average ITS job contributes £73,600 in GVA, compared to the UK average of £67k per year.
Provides £510 million in in tax revenue

As well as estimating the economic contribution of the sector, the report highlights how the sector has wider catalytic impacts on transport including by improving safety, enhancing network efficiency and delivering environmental benefits.

Download the report

In the first-of-its-kind report based on an industry survey, Capital Economics used a range of official statistics to model the direct, indirect and induced effects of the operations of ITS businesses. These translate into quantitative estimates of the number of jobs, economic activity (gross value added) and tax revenue directly and indirectly supported by the sector

The Report