Harris Williams：2021年智慧城市和智慧交通技術報告（英文版）（18頁）.pdf

1、Industrial TechnologySmart City & Mobility Tech Update | Q4 2021 Jeff PerkinsManaging DOffice: +49 69 3650638 13AUTOMATION ENGINEERED COMPONENTSTEST & MEASUREMENTCOMMUNICATION &CONNECTIVITY Global team of senior professionals in Richmond and Frankfurt Focus on high technology / engineering content t

2、hat provides mission-critical value relative to broader systemsHarris Williams Industrial Technology Introduction1HARRIS WILLIAMS EFFORTS IN INDUSTRIAL TECHNOLOGY 30 years and more than 1,000 closed transactions 415+ professionals across eight offices globally 175+ closed transactions in the last 24

3、 months 10 industry groups Focused Advisory Services: Mergers and acquisitions (M&A), Capital raises, Corporate divestituresINDUSTRIAL TECHNOLOGY FOCUS SECTORSCONSISTENT RECOGNITION FOR QUALITYINTRODUCTION & MARKET UPDATESMART CITIES OVERVIEW SUBSECTOR DEEP DIVE HW CASE STUDIESFlorian RippergerDOffi

4、ce: +49 69 3650638 15Eric LogueManaging DOffice: +1 804-887-6015Giles TuckerManaging DOffice: +1 804-887-6145John ArendaleManaging DOffice: +1 804-915-0126H W I N D U S T R I A L T E C H N O L O G Y T E A MJenson DunnVice POffice: +1 804-887-6073Chris ToussaintVice POffice: +1 804-887-6167Robert Eng

5、elhardtVice POffice: +49 69 3650638 21Industrial Software Update Industrial IoT Market Dynamics Industrial Technology Update Smart City OpportunitiesINDUSTRIAL TECHNOLOGY CONTENT AND RESOURCESIndustrial Automation Update Data Center GrowthUPDATE FOCUS AREAS Fire & Life Safety Emergency Power Energy

6、Management Smart Meters Smart Water Access Control Smart HVAC/Lighting Controls Leak/Gas Detection Building Information Modeling (BIM)Smart City & Mobility Tech Market at a Glance2Smart Infrastructure Water/Wastewater Waste Management Critical Structural Health Monitoring Communications Technology S

7、mart Grids Public Safety & Security Smart LightingBuilding AutomationGovernment Tech E-government Digital Public Administration Urban Education E-servicesTechnology Enablers Autonomous/Connected Vehicles Edge Computing Network Upgrades (LTE CAT/5G, WLAN, Broadband, Small Cells) Mobile Payments/Billi

8、ng/Ticketing Sensor Networks Biometrics Machine Learning/AIS E LEC T R EC E NT HW S MART C IT Y & MO BILI T Y T EC HNO LO GY E XPE R IE NC EIntelligent Transportation Systems (ITS) Intelligent Traffic Management (ITM) Public Transportation Smart Parking Connected Vehicle Asset Tracking Telematics Fl

9、eet Management Electric Vehicle ChargingMobility Information and ControlMobility as a Service (MaaS) Ride-hailing/P2P Ride-sharing Fleet/P2P Car-sharing Micro-mobilitySERVING THE ENTIRE SMART CITY & MOBILITY TECH MARKET ACROSS HARRIS WILLIAMS GLOBAL FOOTPRINTINTRODUCTION & MARKET UPDATESMART CITIES

10、OVERVIEW HW CASE STUDIESSubsector Deep DiveSUBSECTOR DEEP DIVEhas been acquired by has been acquired by has been acquired by has been acquired byhas been acquired byhas been acquired by has been acquired by has been acquired by has been acquired by has been acquired by has been acquired by has been

11、acquired byLong-Term Smart City & Mobility Tech Market Trends31) Traffic management includes display boards, sensors and cameras. ITS includes advanced traffic management systems, advanced traveler information systems, ITS-enabled transportation pricing systemsSources: Emergen Research, Mordor Intel

12、ligence, GM Insights, Allied Market ResearchINCREASED ADOPTION OF SMART CITY TECHNOLOGY PRESENTS A $2.5 TRILLION MARKET OPPORTUNITY BY 2025Intelligent Transportation Systems (ITS) Increased public spending on intelligent, adaptive ITS solutions over traditional infrastructure expansion to reduce con

13、gestion, economic costs and environmental impacts. Secular trends in urbanization, sustainability, connected vehicle and Mobility as a Service (MaaS) are driving private investment in the ITS sector, leading to a proliferation of early-stage, tech-focused companies. Accelerating build-out of autonom

14、ous/connected vehicle infrastructure that requires robust sensors, wireless communication gateways, and data analytics & visualization capabilities.Mobility Information and Control Global supply disruptions and the rapid growth in e-commerce are requiring advanced telematics and fleet management cap

15、abilities to monitor assets and make smarter procurement decisions. Increased utilization of sensors and centralized software platforms to deliver real-time tracking, monitoring and life-cycle management of industrial equipment and processes. Proliferation of edge computing, AI and predictive analyt

16、ics modeling to monitor and enhance driver safety and behavior.Global market size in $ billions1Smart Infrastructure Growing investment in efficient, sustainable, reliable, pedestrian-friendly infrastructure/services across waste, water, power and public spaces. Rollout of 5G coverage and small-cell

17、 networks to deliver necessary connectivity for vehicle-to-infrastructure (V2I) and pedestrian applications across public spaces. Increased need for data privacy and preparedness to protect against cyberattacks as critical infrastructure and government systems increasingly become more connected.CAGR

18、 12.3% CAGR 20.5% Global market size in $ billionsBuilding Automation Marriage of IoT sensors and software with existing building systems and data to create more intelligent, energy-efficient, safer, and connected buildings. Significant investment in technologies that facilitate occupant health, wel

19、lness and safety in the post-COVID work environment. Increasing adoption of predictive maintenance, asset digitization and data-driven services to monitor environmental conditions, equipment and utility usage to reduce maintenance and energy costs.CAGR 11.0% Global market size in $ billionsGlobal ma

20、rket size in $ billionsCAGR 9.0% INTRODUCTION & MARKET UPDATESMART CITIES OVERVIEW HW CASE STUDIES SUBSECTOR DEEP DIVECAGR 26.4% 4044485256622020 2021 2022 2023 2024 2025ITS Market60677483921022020 2021 2022 2023 2024 2025Building Automation8 9 10 11 12 143643526376912020 2021 2022 2023 2024 2025Sma

21、rt Water Management Smart Grid Market811021291632062602020 2021 2022 2023 2024 2025Asset Tracking & TelematicsSubsector Deep Dive: Intelligent Transportation Systems (ITS)4Sources: Markets and Markets, HERE Mobility, McKinsey, HW IntelligenceINTELLIGENT TRAFFIC MANAGEMENTTRANSPORTATIONINFRASTRUCTURE

22、SMART PARKING (Arterial) Traffic Management Systems Traffic Data Services Transportation Planning & Optimization Software Vehicle, Bicycle & Pedestrian Detection Parking Guidance Systems Payment Solutions Enforcement Guidance Data Collection Software Access Control Congestion Pricing Roadside & Onbo

23、ard Units Small-Cell & Backhaul Technologies Collision Avoidance Sensors V2X Hardware & Software Connected Intersections (Controllers) Automated Vehicle Identification Public Transit & Passenger Tracking Tolling Hardware & Systems Fare CollectionINTRODUCTION & MARKET UPDATESMART CITIES OVERVIEW SUBS

24、ECTOR DEEP DIVE HW CASE STUDIESAdaptive Traffic Signal ControlOptimizes arterial traffic signal infrastructure in real time through demand-based adaptive signal controlIntegrated Urban/Interurban SoftwareATMS software that allows for integration of urban / interurban traffic operationsReal-Time Data

25、 Collection & AnalysisProvides ability to dynamically respond to traffic inefficiencies and emergenciesContactless/Open PaymentsIncreases the efficiency, safety and hygiene of public transit operationsDynamic/Congestion PricingDesigned to reduce congestion/emissions and boost revenue in high-traffic

26、 corridorsOpen Payment PlatformsProvides customers access to various mobility services via a single platformParking Enforcement TechnologiesCompliance and violation monitoring solutions increase revenue and ensure adequate parking availabilityTouchless ParkingTouchless access control and payment sys

27、tems enhance lot management efficiencySmart Mobile, Data & Payment AppsSeamlessly improve efficiency in finding, reserving and paying for parkingV2X InfrastructureIncreased demand for V2X systems and sensors to ensure success of autonomous mobilityCommunication InfrastructureSmall-cell technologies

28、offer increased data capacity with lower latencyCybersecurity & Data PrivacySoftware solutions to protect against cyberattacks on vehicles and critical infrastructureEMERGING TRENDS ACROSS THE ITS LANDSCAPECONNECTEDVEHICLESin the marketIncreasing M&A Momentum Across the Smart Mobility and ITS Subsec

29、torSELECT NOTABLE INTELLIGENT TRANSPORTATION SYSTEMS M&A ACTIVITY5Note: Logos are representative of M&A participants and not comprehensiveSources: Pitchbook, Mergermarket, S&P Capital IQINTRODUCTION & MARKET UPDATESMART CITIES OVERVIEW HW CASE STUDIESacquired byacquired byacquired byacquired bycompl

30、etes equityfinancing raiseacquired byacquired byParking Divisioncompletes equityfinancing raiseacquired byacquired byacquired byacquired bycompletes equityfinancing raiseacquired bySUBSECTOR DEEP DIVEacquired byacquired byacquired byacquired byacquired byacquired byacquired byacquired byacquired bya

31、cquired byacquired byacquired byacquired byacquired byacquired byto be acquired bysponsor sells a minority stake toto be acquired byacquired byacquired byacquired bytraffopacquired byacquired byacquired byacquired byacquired bytaken public via SPAC mergeracquired bytaken public via SPAC mergeracquir

32、ed byacquired byto be acquired bysells parking division to the units EVP, renamed as TCS Internationalacquired by2020 2021acquired byacquired byIntelligent Traffic Management Systems Landscape6CONNECTED VEHICLEROADSIDE UNITS & ON-BOARD UNITS SMALL CELL & BACKHAUL TECHNOLOGYARTERIAL TRAFFIC MANAGEMEN

33、T SYSTEMSCENTRAL TRAFFIC MANAGEMENT SOFTWARE & CONTROLLERSADAPTIVE SIGNAL CONTROLSENSORS & DETECTIONSOFTWARE PLATFORMSEMERGENCY RESPONSE & SIGNAL PREEMPTIONTRAFFIC PLANNING & OPTIMIZATIONDATA ANALYTICS & SERVICESINTRODUCTION & MARKET UPDATESMART CITIES OVERVIEW SUBSECTOR DEEP DIVE HW CASE STUDIESSou

34、rces: Pitchbook, Mergermarket, S&P Capital IQTo receive the latest Industrial Technology market maps, please contact Harris Williams at HWIndustrialTechTCABINETS & PERIPHERALSTRAFFIC ENFORCEMENTSmart Parking Landscape7PAYMENT SOLUTIONSACCESS CONTROLHARDWARE SYSTEMS MOBILE APPS, TOUCHLESS & SOFTWARES

35、ENSORS & DETECTION PARKING GUIDANCEENFORCEMENT PARKING DATA SOFTWAREAVAILABILITY & RESERVATION LOT MANAGEMENT & OPTIMIZATIONRFID & PROXIMITY SCANNINGLICENSE PLATE RECOGNITIONINTRODUCTION & MARKET UPDATESMART CITIES OVERVIEW SUBSECTOR DEEP DIVE HW CASE STUDIESSources: Pitchbook, Mergermarket, S&P Cap

36、ital IQTo receive the latest Industrial Technology market maps, please contact Harris Williams at HWIndustrialTechTPublic Transportation Management Landscape8PUBLIC TRANSIT FARE COLLECTIONTOLLINGELECTRONIC TOLL COLLECTION DYNAMIC PRICING / ROAD-USE CHARGINGAUTOMATIC VEHICLE IDENTIFICATIONSOFTWARE &

37、TRACKING PLATFORMSTRANSIT VEHICLE TRACKINGINTRODUCTION & MARKET UPDATESMART CITIES OVERVIEW SUBSECTOR DEEP DIVE HW CASE STUDIESSources: Pitchbook, Mergermarket, S&P Capital IQTo receive the latest Industrial Technology market maps, please contact Harris Williams at HWIndustrialTechTMOBILITY AS A SER

38、VICE & OPEN PAYMENTS PLATFORMS AUTOMATED FARE COLLECTION & TICKETING SOLUTIONSREAL-TIME PASSENGER INFORMATION & ANALYTICS168.9145.993.375.8115.1108.2144.3143.1Intelligent TransportationSystemsMSCI Index - Industrials3-yr Max 3-yr Min3-yr Median Current MedianINTRODUCTION & MARKET UPDATESMART CITIES

39、OVERVIEW HW CASE STUDIESIntelligent Transportation Systems Public Market Observations9As of December 13, 2021Source: S&P Capital IQVerra Mobility, Parsons and Vontier completed initial public offerings in October 2018, May 2019 and September 2020, respectively INTELLIGENT TRANSPORTATION SYSTEMS PUBL

40、IC COMPARABLE MARKET PERFORMANCEIndexed Close Price from June 1, 2017 (Index = 100 on June 1, 2017)INTELLIGENT TRANSPORTATION SYSTEMS PROVIDERSANALYSIS SUMMARYSUBSECTOR DEEP DIVE5060708090100110120130140150160170180Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21Intelligent Tran

41、sportation Systems MSCI Index - IndustrialsIntelligent Transportation Systems Market Valuations1101) As of December 13, 2021Source: Capital IQINTRODUCTION & MARKET UPDATESMART CITIES OVERVIEW HW CASE STUDIES SUBSECTOR DEEP DIVEMarket Current Percent of Enterprise Revenue EBITDA Margin EV / Revenue E

42、V / EBITDACompany Capitalization Stock Price 52-wk High Value CY2020A CY2021E CY2020A CY2021E CY2020A CY2021E CY2022E CY2020A CY2021E CY2022EIntelligent Transportation SystemsVontier Corporation 5,209 30.50 82.3% 7,390 $2,705 $3,011 23.5% 24.6% 2.7x 2.5x 2.4x 11.6x 10.0 x 9.4xParsons Corporation 3,5

43、01 33.56 74.6% 4,062 $3,919 $3,659 7.2% 8.3% 1.0 x 1.1x 1.0 x 14.4x 13.3x 11.7xVerra Mobility Corporation 2,288 14.66 83.8% 3,163 $394 $538 39.0% 48.2% 8.0 x 5.9x 5.1x 20.6x 12.2x 10.5xINIT innovation in traffic systems SE 409 40.82 72.3% 434 $221 $204 14.0% 13.9% 2.0 x 2.1x 1.9x 14.0 x 15.3x 11.8xI

44、VU Traffic Technologies AG 398 22.76 91.8% 371 $113 N/A 8.9% N/A 3.3x N/A N/A 37.1x N/A N/AIteris, Inc. 183 3.99 51.1% 168 $114 $132 4.5% 5.9% 1.5x 1.3x 1.2x 33.0 x 21.5x 13.9xMedian $1,349 $26.63 78.4% $1,799 $307 $538 11.4% 13.9% 2.3x 2.1x 1.9x 17.5x 13.3x 11.7xAverage $1,998 $24.38 76.0% $2,598 $

45、1,244 $1,508 16.2% 20.2% 3.1x 2.6x 2.3x 21.8x 14.5x 11.5xDiversified Companies with ITS CapabilitiesMotorola Solutions, Inc. 44,744 263.29 99.2% 49,245 $7,414 $8,181 26.1% 29.2% 6.6x 6.0 x 5.6x 25.5x 20.6x 18.8xThales S.A. 17,597 80.99 77.5% 20,667 $20,782 $19,212 10.9% 14.9% 1.0 x 1.1x 1.0 x 9.1x 7

46、.2x 6.5xTeledyne Technologies Incorporated 20,312 432.54 92.9% 24,364 $3,086 $4,598 20.4% 21.6% 7.9x 5.3x 4.4x 38.7x 24.5x 18.4xSingapore Technologies Engineering Ltd 8,636 2.76 91.6% 9,894 $5,416 $5,555 12.3% 13.3% 1.8x 1.8x 1.7x 14.8x 13.4x 12.8xTKH Group N.V. 2,363 57.82 89.0% 2,760 $1,577 $1,666

47、 11.0% 15.0% 1.7x 1.7x 1.5x 15.9x 11.0 x 9.7xJenoptik AG 2,349 40.75 95.4% 2,600 $938 $1,006 15.0% 19.5% 2.8x 2.6x 2.3x 18.5x 13.3x 12.3xConduent Incorporated 1,130 5.15 60.6% 2,549 $4,163 $4,132 10.2% 11.7% 0.6x 0.6x 0.6x 6.0 x 5.3x 5.4xSP Plus Corporation 619 25.46 69.4% 1,216 $549 $596 9.3% 15.8%

48、 2.2x 2.0 x 1.8x 23.7x 12.9x 11.0 xMedian $5,500 $49.28 90.3% $6,327 $3,625 $4,365 11.7% 15.4% 2.0 x 1.9x 1.7x 17.2x 13.1x 11.7xAverage $12,219 $113.59 84.4% $14,162 $5,491 $5,618 14.4% 17.6% 3.1x 2.6x 2.4x 19.0 x 13.5x 11.9xSmall-Cap / Growth Stage ITS CompaniesRekor Systems, Inc. 281 6.23 24.5% 25

49、8 $9 $14 N/M N/M 27.9x 18.6x 18.6x N/M N/M N/MIBI Group Inc. 336 10.41 94.2% 428 $396 $341 N/M 14.6% 1.1x 1.3x 1.3x 11.0 x 8.6x 7.9xQuarterhill Inc. 235 2.15 88.1% 272 $113 $106 N/M 10.4% 2.4x 2.6x 2.6x N/M 24.9x 9.5xKapsch TrafficCom AG 217 16.28 84.2% 407 $697 N/A N/M N/A 0.6x N/A 0.7x N/M 33.5x 7

50、.6xLACROIX Group SA 197 41.90 69.9% 278 $554 N/A 5.5% N/A 0.5x N/A 0.5x 9.2x 8.3x 7.1xQ-Free ASA 103 0.89 67.7% 126 $104 N/A 3.7% N/A 1.2x N/A N/A 33.0 x N/A N/ASensys Gatso Group AB (publ) 92 0.10 53.3% 97 $55 $53 8.4% 15.1% 1.7x 1.8x 1.8x 20.8x 12.1x 7.2xTagMaster AB (publ) 43 2.95 76.2% 46 $35 $0