The finnish ITS market size and structure - a microeconomic approach

Abstract

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 doing well whereas the weakest performers seem to have a continuous declining trend. The Finnish ITS supply market of approximately € 300 million had around 1700 employees in 2010.