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Intelligent Transportation System Market Analysis by Component (Hardware, Software, Services), by System (ATMS, ITPS, CVO, ATIS, APTS), by Application (Traffic Monitoring, Fleet Management & Asset Monitoring, Collision Avoidance Systems, Parking Availability Systems, Traffic Enforcement Cameras, Variable Enforcement Cameras, Roadways, Railways, Aviation, Maritime) and by Region: Global Forecast, 2024 - 2034

  • PUBLISHED ON
  • 2024-08-03
  • NO OF PAGES
  • 267
  • CATEGORY
  • Information Communication & Technology

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


 Market opportunity:


 

 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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We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




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To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Frequently Asked Questions

What is the market size of Intelligent Transportation System Market in 2024?

Intelligent Transportation System Market was valued at USD 35.10 Billion in 2024.

What is the growth rate for the Intelligent Transportation System Market?

Intelligent Transportation System Market size will increase at approximate CAGR of 7.1% during the forecasted period.

Which are the top companies operating within the market?

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.

Which region dominates the Intelligent Transportation System Market?

North America dominates the market with an active share of 46%.

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