On Thursday November 12th, not only did Siemens release its financial results for the 4th quarter and for fiscal year 2020, but also announced a major change for the Siemens Mobility ITS business unit.
Mobility driving differentiation through digitalization
As a global champion in a leading position from both a business and technology perspective, Siemens Mobility is an integral part of Siemens AG. The business is exceptionally well positioned to differentiate itself from its competitors by merging the real and digital worlds. Siemens Mobility covers the entire value chain and – thanks to the Siemens IoT platform – is a leader in the digital transformation.
In the course of Mobility’s continued development, Intelligent Traffic Systems (ITS) will be carved out by the end of fiscal 2021 to form a separately managed entity. As a separate company, ITS will be able to further pursue its growth strategy, shape the digital transformation of its industry and actively drive market consolidation. In this connection, the unit will leverage its market-leading position in installed systems and drive advances in digitalization.
Offering innovative, smart and comprehensive mobility solutions for roads and cities, ITS is the world’s only supplier of solutions serving all the main regional standards worldwide. Most recently, the unit generated revenue of about €600 million. Since 2013, the compound annual growth rate for orders has totaled eight percent.