Market Overview
The Intelligent Transportation System market is predicted to develop at a compound annual growth rate (CAGR) of 7.1% from 2024 to 2034, when it is projected to reach USD 66.24 Billion, based on an average growth pattern. The market is estimated to reach a value of USD 35.10 Billion in 2024.
SOURCE: We Market Research
An intelligent
transportation system (ITS) is a technological network that aims to improve the
efficacy, security, and sustainability of transportation networks. Intelligent
Transportation Systems (ITS) uses communication, sensor, control, and
information technologies to govern traffic flow, reduce congestion, improve
mobility, and increase road safety. This system incorporates a variety of
components, including dynamic message signs, electronic toll collection,
vehicle-to-infrastructure (V2I) communication, traffic monitoring cameras, and
sophisticated traffic signal controllers. ITS improves the overall
transportation infrastructure and allows for more intelligent traffic
management decision-making by collecting and analyzing real-time data. The
ultimate goal of ITS is to make cities' transportation networks more reliable,
accessible, and environmentally friendly.
A number of important factors are driving the market for intelligent transportation systems (ITS). Mainly the adoption of ITS systems is driven by the growing need to control the growing traffic congestion and improve road safety. To increase the effectiveness of traffic flow and lower accident rates, governments and transportation authorities throughout the world are investing in ITS. Another, increasingly complex and networked transportation systems are made possible by developments in communication and sensor technologies, such as IoT and AI. The need for ITS applications is also fueled by the emphasis on environmentally friendly transportation options and the growth of smart cities. The ITS market is also growing as a result of encouraging government policies and financing programs for smart transportation infrastructure.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 35.10 Billion |
|
Market Forecast in 2034 |
USD 66.24Billion |
|
CAGR % 2024-2034 |
7.1% |
|
Base Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast Period |
2024-2034 |
|
Report USP
|
Production, Consumption, company share, company
heatmap, company production capacity, growth factors and more |
|
Segments Covered |
By Component, by System, by Application and By Region |
|
Regional Scope |
North America, Europe, APAC, South America and
Middle East and Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic
Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia;
Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa;
Nigeria |
Intelligent Transportation System Industry: Dynamics & Restrains
We Market Research: Intelligent Transportation System Dashboard
Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.
Intelligent Transportation System Segmentation
Market- By System Analysis
By System, the Intelligent Transportation System Market is Categories into ATMS, ITPS, CVO, ATIS, APTS. The ATMS segment accounts for the largest share of around 36% in 2024.
The primary reason for this is that ATMS
aids in the detection of traffic dangers, hazardous weather conditions,
accidents, and a comprehensive integrated view of the traffic. This facilitates
the quick movement of traffic. Furthermore, traffic signals that greatly add to
traffic congestion are also managed by ATMS, which further shortens travel
times for vehicles and passengers.
The
following segments are part of an in-depth analysis of the global Intelligent
Transportation System market:
|
Market Segments |
|
|
By Component |
·
Hardware ·
Software ·
Services |
|
By Application |
·
Traffic Monitoring ·
Fleet Management & Asset
Monitoring ·
Collision Avoidance Systems ·
Parking Availability Systems ·
Traffic Enforcement Cameras ·
Variable Enforcement Cameras ·
Roadways ·
Railways ·
Aviation ·
Maritime |
Intelligent Transportation System Industry: Regional Analysis
North America Market Forecast
North America dominate the Intelligent Transportation System Market with the highest revenue generating market with share of more than 46%. The ITS market in North America is driven by rising road safety concerns, government initiatives supporting advanced transportation technology, and expanding expenditures in smart city projects. This region's market is growing because of the existence of important businesses and a well-developed infrastructure for the implementation of ITS.
Europe Market Statistics
The ITS market
in Europe is expanding rapidly as a result of strict laws pertaining to
environmental sustainability and traffic safety. Investments in intelligent
infrastructure and initiatives like the ITS Directive from the European Union
make a big difference. Furthermore, the market is expanding due to the
implementation of smart transportation solutions and connected car technology.
Asia Pacific Market Forecasts
Asia Pacific is
expected to be the fastest-growing regional segment of the Intelligent
Transportation System market during the forecast period. In the Asia Pacific
region, where demand for effective transportation systems is rising along with
rapid urbanization and traffic congestion. To solve the issues of traffic
management, nations such as China and India are making significant investments
in ITS. Important factors in this region are also the incorporation of
cutting-edge technology like IoT and AI, as well as supportive government
regulations.
Key Market Players
The Intelligent Transportation System Market is
dominated by a few large companies, such as
·
Lanner Electronics
·
Hitachi Ltd.
·
Kapsch TrafficCom
·
Denso Corporation
·
TomTom International BV
·
Siemens AG
·
Garmin International
·
Clever Devices Ltd.
·
Nuance Communications
·
Lanner Electronics
· Thales Group
· Other
1.
Global
Intelligent Transportation System Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Intelligent
Transportation System Market Scope and Market Estimation
1.2.1. Global Intelligent
Transportation System Overall Market Size, Revenue (US$ Mn), Market CAGR (%),
Market forecast (2023 - 2034)
1.2.2. Global Intelligent
Transportation System Market Revenue Share (%) and Growth Rate (Y-o-Y) from
2019 - 2034
1.3. Market Segmentation
1.3.1. Component of Global Intelligent
Transportation System Market
1.3.2. Technology of Global Intelligent
Transportation System Market
1.3.3. Application of Global Intelligent
Transportation System Market
1.3.4. Region of Global Intelligent
Transportation System Market
2.
Executive Summary
2.1. Global Intelligent Transportation System Market Industry Trends under
COVID-19 Outbreak
2.1.1. Global COVID-19 Status Overview
2.1.2. Influence of COVID-19 Outbreak
on Global Intelligent Transportation
System Market Industry Development
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Limitations
2.2.3. Opportunities
2.2.4. Impact Analysis of Drivers and
Restraints
2.3. Pricing Trends Analysis &
Average Selling Prices (ASPs)
2.4. Key Mergers & Acquisitions,
Expansions, JVs, Funding / VCs, etc.
2.5. Porter’s Five Forces Analysis
2.5.1. Bargaining Power of Suppliers
2.5.2. Bargaining Power of Buyers
2.5.3. Threat of Substitutes
2.5.4. Threat of New Entrants
2.5.5. Competitive Rivalry
2.6. Value Chain / Ecosystem Analysis
2.7. Russia-Ukraine War Impacts
Analysis
2.8. Economic Downturn Analysis
2.9. Market Investment Opportunity
Analysis (Top Investment Pockets), By Segments & By Region
3.
Global Intelligent Transportation
System Market Estimates &
Historical Trend Analysis (2019 - 2023)
4.
Global Intelligent
Transportation System Market Estimates &
Forecast Trend Analysis, by COMPONENT
4.1. Global Intelligent
Transportation System Market Revenue (US$ Mn) Estimates and Forecasts, by COMPONENT,
2019 to 2034
4.1.1. Hardware
4.1.2. Software
4.1.3. Services
5.
Global Intelligent
Transportation System Market Estimates &
Forecast Trend Analysis, by System
5.1. Global Intelligent
Transportation System Market Revenue (US$ Mn) Estimates and Forecasts, by System,
2019 to 2034
5.1.1. ATMS
5.1.2. ITPS
5.1.3. CVO
5.1.4. ATIS
5.1.5. APTS
6.
Global Intelligent
Transportation System Market Estimates &
Forecast Trend Analysis, by Application
6.1. Global Intelligent
Transportation System Market Revenue (US$ Mn) Estimates and Forecasts, by Application, 2019 to 2034
6.1.1. Traffic Monitoring
6.1.2. Fleet Management & Asset
Monitoring
6.1.3. Collision Avoidance Systems
6.1.4. Parking Availability Systems
6.1.5. Traffic Enforcement Cameras
6.1.6. Variable Enforcement Cameras
6.1.7. Roadways
6.1.8. Railways
6.1.9. Aviation
6.1.10. Maritime
7.
Global Intelligent
Transportation System Market Estimates &
Forecast Trend Analysis, by Region
7.1. Global Intelligent
Transportation System Market Revenue (US$ Mn) Estimates and Forecasts, by Region,
2019 to 2034
7.1.1. North America
7.1.2. Europe
7.1.3. Asia Pacific
7.1.4. Middle East & Africa
7.1.5. South America
8.
North
America Intelligent Transportation System Market: Estimates & Forecast Trend Analysis
8.1.
North
America Intelligent Transportation System Market Assessments & Key Findings
8.1.1. North America Intelligent
Transportation System Market Introduction
8.1.2. North America Intelligent
Transportation System Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
8.1.2.1. By COMPONENT
8.1.2.2. By System
8.1.2.3. By Application
8.1.2.4. By Country
8.1.2.4.1. The U.S.
8.1.2.4.2. Canada
8.1.2.4.3. Mexico
9.
Europe
Intelligent Transportation System Market: Estimates & Forecast Trend Analysis
9.1. Europe Intelligent
Transportation System Market Assessments & Key Findings
9.1.1. Europe Intelligent
Transportation System Market Introduction
9.1.2. Europe Intelligent
Transportation System Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
9.1.2.1. By COMPONENT
9.1.2.2. By System
9.1.2.3. By Application
9.1.2.4.
By
Country
9.1.2.4.1. Germany
9.1.2.4.2. U.K.
9.1.2.4.3. France
9.1.2.4.4. Italy
9.1.2.4.5. Spain
9.1.2.4.6. Russia
9.1.2.4.7. Rest of Europe
10. Asia Pacific Intelligent
Transportation System Market: Estimates
& Forecast Trend Analysis
10.1. Asia Pacific Market Assessments
& Key Findings
10.1.1. Asia Pacific Intelligent
Transportation System Market Introduction
10.1.2. Asia Pacific Intelligent
Transportation System Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
10.1.2.1. By COMPONENT
10.1.2.2. By System
10.1.2.3. By Application
10.1.2.4. By Country
10.1.2.4.1. China
10.1.2.4.2. Japan
10.1.2.4.3. India
10.1.2.4.4. Australia
10.1.2.4.5. South Korea
10.1.2.4.6. ASEAN
10.1.2.4.7. Rest of Asia Pacific
11. Middle East & Africa Intelligent
Transportation System Market: Estimates
& Forecast Trend Analysis
11.1. Middle East & Africa Market
Assessments & Key Findings
11.1.1. Middle
East & Africa Intelligent
Transportation System Market Introduction
11.1.2. Middle
East & Africa Intelligent
Transportation System Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
11.1.2.1. By COMPONENT
11.1.2.2. By System
11.1.2.3. By Application
11.1.2.4. By Country
11.1.2.4.1. U.A.E.
11.1.2.4.2. Saudi Arabia
11.1.2.4.3. Egypt
11.1.2.4.4. South Africa
11.1.2.4.5. Rest of Middle East & Africa
12. South America
Intelligent Transportation System Market:
Estimates & Forecast Trend Analysis
12.1. South America Market Assessments
& Key Findings
12.1.1. South America Intelligent
Transportation System Market Introduction
12.1.2. South America Intelligent Transportation
System Market Size Estimates and Forecast (US$ Million) (2019 – 2034)
12.1.2.1. By COMPONENT
12.1.2.2. By System
12.1.2.3. By Application
12.1.2.4. By Country
12.1.2.4.1. Brazil
12.1.2.4.2. Argentina
12.1.2.4.3. Colombia
12.1.2.4.4. Rest of South America
13. Competition Landscape
13.1. Global Intelligent
Transportation System Market Competition Matrix & Benchmarking, by Leading
Players / Innovators / Emerging Players / New Entrants
13.2. Global Intelligent
Transportation System Market Competition White Space Analysis, By Application
13.3. Global Intelligent
Transportation System Market Competition Heat Map Analysis, By Application
13.4. Global Intelligent
Transportation System Market Concentration & Company Market Shares (%)
Analysis, 2022
14. Company Profiles
14.1.
Lanner Electronics.
14.1.1. Company Overview & Key Stats
14.1.2. Financial Performance & KPIs
14.1.3. Product Portfolio
14.1.4. Business Strategy & Recent
Developments
* Similar details would be provided
for all the players mentioned below
14.2. Hitachi Ltd.
14.3. Kapsch
TrafficCom
14.4. Denso
Corporation
14.5. TomTom
International BV
14.6. Siemens AG
14.7. Garmin
International
14.8. Clever Devices
Ltd.
14.9. Nuance
Communications
14.10. Lanner
Electronics
14.11. Thales Group
14.12. Others
15. Research
Methodology
15.1. External Transportations /
Databases
15.2. Internal Proprietary Database
15.3. Primary Research
15.4. Secondary Research
15.5. Assumptions
15.6. Limitations
15.7. Report FAQs
16. Research Findings & Conclusion
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Conclusion
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Intelligent Transportation System Market was valued at USD 35.10 Billion in 2024.
Intelligent Transportation System Market size will increase at approximate CAGR of 7.1% during the forecasted period.
Major companies operating within the Intelligent Transportation System Market Are Lanner Electronics, Hitachi Ltd., Kapsch TrafficCom, Denso Corporation, TomTom International BV, Siemens AG, Garmin International, Clever Devices Ltd., Nuance Communications and Other.
North America dominates the market with an active share of 46%.
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