Global Intelligent Transportation System Market Size, Share, Growth, Industry Trends, Competitive Analysis and Forecast to 2030

Report ID: RC12524 | Report Format: PDF + Excel | Starting Price: 3600/- USD | Last Updated: June 12th, 2024

The global intelligent transportation system market size is anticipated to register a sustainable CAGR of around 7% during the forecast period 2021 to 2027. The increasing demand for traffic control systems and the rising adoption of smart vehicles around the globe is a primary factor to drive the market growth. Government regulation, supportive initiatives, and the development of smart cities are further expected to boost the market. Moreover, the increasing number of commercial vehicles around the world, lack of transportation infrastructure, and lack of traffic data management are further expected to uplift the market growth over the forecast period. In addition, the rising e-commerce and manufacturing activities are encouraging many logistics players to deploy monitoring and management systems which are expected to boost the market.

Market Drivers:

Increasing urbanization and population growth: Rapid urbanization and population growth in cities around the world have led to increased congestion, traffic problems, and the need for efficient transportation solutions. Intelligent transportation systems offer technologies and solutions to address these challenges, including traffic management, real-time information, and smart mobility options. The growing urban population drives the adoption of ITS to improve transportation efficiency and manage traffic congestion.

Government initiatives and investments: Governments across the globe are implementing initiatives and investing in intelligent transportation systems to enhance mobility, reduce traffic congestion, and improve road safety. These initiatives often include the deployment of advanced traffic management systems, smart traffic signal control, intelligent parking solutions, and integrated transport networks. Government support and investments act as catalysts for the growth of the ITS market.

Focus on sustainability and environmental concerns: There is a growing emphasis on sustainability and reducing carbon emissions in transportation. Intelligent transportation systems play a significant role in promoting sustainable transportation by optimizing traffic flow, reducing congestion, and encouraging the use of public transportation and alternative modes of transportation. The integration of ITS solutions contributes to achieving environmental targets and reducing the ecological footprint of transportation.

Technological advancements and connectivity: Advancements in technologies such as Internet of Things (IoT), artificial intelligence (AI), machine learning, and connectivity solutions have significantly influenced the development of intelligent transportation systems. These technologies enable real-time data collection, analysis, and communication between various components of the transportation system, leading to improved traffic management, enhanced safety, and efficient mobility services. The continuous advancements in technology drive the adoption of ITS solutions.

Need for enhanced road safety: Road safety is a major concern worldwide, and intelligent transportation systems provide solutions to improve safety on roads. ITS technologies include intelligent traffic signal control, vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication, advanced driver assistance systems (ADAS), and predictive analytics for accident detection and prevention. The focus on reducing accidents and enhancing road safety stimulates the demand for intelligent transportation systems.

Growing demand for real-time information and traveler convenience: The increasing demand for real-time information and traveler convenience is a driving factor for the ITS market. Intelligent transportation systems offer features such as real-time traffic updates, public transportation schedules, dynamic route guidance, and smart parking solutions. These services improve the travel experience, reduce travel time, and provide convenience to commuters, contributing to the adoption of ITS.

Integration of autonomous and connected vehicles: The integration of autonomous and connected vehicles with intelligent transportation systems is a significant driving factor. ITS facilitates the communication and coordination between vehicles, infrastructure, and traffic management systems, enabling efficient traffic flow, reducing congestion, and enhancing safety for autonomous and connected vehicles. The development of smart transportation ecosystems that incorporate autonomous and connected vehicles further fuels the demand for intelligent transportation systems.

Demand for efficient freight and logistics management: The efficient movement of goods and logistics is essential for economic growth. Intelligent transportation systems offer solutions for freight management, including real-time tracking, route optimization, and intelligent supply chain management. These solutions help reduce transportation costs, improve delivery efficiency, and optimize logistics operations, driving the adoption of ITS in the freight and logistics sector.

Market Outlook:

Benchmark Year 2022
Market Size lock
Market Growth (CAGR) ~ 7% (2023-2030)
Largest Market Share North America
Analysis Period 2020-2030
Market Players Siemens AG, Thales Group, IBM Corporation, Cubic Corporation, and Denso Corporation

Market Insights:

The global intelligent transportation system market is bifurcated into type, application, and geography. On the basis of type, the market is further segmented into ATIS, ATMS, ATPS, and others. The advanced traffic management system segment dominated the market in 2020 and accounted to hold s major market share of around one-third share of the market. The growing number of vehicles on the road coupled with the traffic congestions is expected to drive the segment growth. On the other hand, the advanced public transportation systems segment is estimated to grow at a significant growth rate over the forecast period.

On the basis of application, the market is segmented into traffic management, road safety and security, freight management, public transport, and others. The traffic management segment dominated the global intelligent transportation system market in 2020 and accounted to hold the largest revenue share of around one-third percent of the market. In contrast, the automotive telematics segment is expected to grow at the fastest growth rate over the forecast period. The increasing demand for driving assistance systems and autonomous driving systems are some major factors expected to drive the segment growth.

Intelligent Transportation System Market Analysis

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The intelligent transportation system comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The intelligent transportation system market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

  • 2018-19 – Historical Year
  • 2020 – Base Year
  • 2021-2027 – Forecast Period

Market Segmentation:

By Type:

  • Advanced Traveler Information System (ATIS)
  • Advanced Traffic Management System (ATMS)
  • Advanced Transportation Pricing System (ATPS)
  • Advanced Public Transportation System (APTS)
  • Emergency Medical System (EMS)

By Application:

  • Traffic Management
  • Road Safety and Security
  • Freight Management
  • Public Transport
  • Environment Protection
  • Automotive Telematics
  • Parking Management
  • Road Tolling Systems

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Geographic Coverage:

Geographically, North America dominated the global intelligent transportation system market in 2020 and is expected to grow at the same trend over the forecast period. The early adoption of new technologies and the increasing adoption of smart vehicles and connected cars are some major factors that have contributed the market growth in the region. Furthermore, the government regulation regarding safety and surveillance is another major factor to fuel the market in North America. With the increasing incidence of vehicle theft and the rising concern of safety, the governments of various countries are mandating the installation of these telematics and safety devices, which is further expected to fuel the market.

Market Competition Assessment:

Some of the major players operating in the global intelligent transportation system market are Siemens AG, Thales Group, IBM Corporation, Cubic Corporation, and Denso Corporation. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

  • Siemens AG
  • Thales Group
  • IBM Corporation
  • Cubic Corporation
  • Denso Corporation
  • Addco
  • Agero, Inc.
  • Hitachi, Ltd.
  • Garmin Ltd.
  • Xerox Corporation

Key Questions Answered by Intelligent Transportation System Market Report

  • Global intelligent transportation system market forecasts from 2021-2027
  • Regional intelligent transportation system market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
  • Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
  • Intelligent transportation system submarket forecasts from 2021-2027 covering the market by type, by application, and geography
  • Various industry models such as SWOT analysis, Value Chain Analysis pertaining to the intelligent transportation system market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level intelligent transportation system markets from 2021-2027
  • Competitive Landscape and market positioning of top 10 players operating in the intelligent transportation system market
Table of Content:

1. Preface


1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

 

2. Executive Summary


2.1. Global Intelligent Transportation System Market Portraiture
2.2. Global Intelligent Transportation System Market, by Type, 2020 (USD Mn)
2.3. Global Intelligent Transportation System Market, by Application, 2020 (USD Mn)
2.4. Global Intelligent Transportation System Market, by Geography, 2020 (USD Mn)

 

3. Global Intelligent Transportation System Market Analysis


3.1. Intelligent Transportation System Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. COVID-19 Impact Analysis

 

4. Global Intelligent Transportation System Market By Type, 2018 – 2027 (USD Mn)


4.1. Overview
4.2. Advanced Traveler Information System (ATIS)
4.3. Advanced Traffic Management System (ATMS)
4.4. Advanced Transportation Pricing System (ATPS)
4.5. Advanced Public Transportation System (APTS)
4.6. Emergency Medical System (EMS)

 

5. Global Intelligent Transportation System Market By Application, 2018 – 2027 (USD Mn)


5.1. Overview
5.2. Traffic Management
5.3. Road Safety and Security
5.4. Freight Management
5.5. Public Transport
5.6. Environment Protection
5.7. Automotive Telematics
5.8. Parking Management
5.9. Road Tolling Systems

 

6. North America Intelligent Transportation System Market Analysis and Forecast, 2018 – 2027 (USD Mn)


6.1.1. Overview
6.1.2. North America Intelligent Transportation System Market by Type (2018-2027 USD Mn)
6.1.3. North America Intelligent Transportation System Market by Application (2018-2027 USD Mn)
6.1.4. North America Intelligent Transportation System Market by Country (2018-2027 USD Mn)
6.1.4.1. U.S.
6.1.4.1.1. U.S. Intelligent Transportation System Market by Type (2018-2027 USD Mn)
6.1.4.1.2. U.S. Intelligent Transportation System Market by Application (2018-2027 USD Mn)
6.1.4.2. Canada
6.1.4.2.1. Canada Intelligent Transportation System Market by Type (2018-2027 USD Mn)
6.1.4.2.2. Canada Intelligent Transportation System Market by Application (2018-2027 USD Mn)

 

7. Europe Intelligent Transportation System Market Analysis and Forecast, 2018 – 2027 (USD Mn)


7.1.1. Overview
7.1.2. Europe Intelligent Transportation System Market by Type (2018-2027 USD Mn)
7.1.3. Europe Intelligent Transportation System Market by Application (2018-2027 USD Mn)
7.1.4. Europe Intelligent Transportation System Market by Country (2018-2027 USD Mn)
7.1.4.1. Germany
7.1.4.1.1. Germany Intelligent Transportation System Market by Type (2018-2027 USD Mn)
7.1.4.1.2. Germany Intelligent Transportation System Market by Application (2018-2027 USD Mn)
7.1.4.2. U.K.
7.1.4.2.1. U.K. Intelligent Transportation System Market by Type (2018-2027 USD Mn)
7.1.4.2.2. U.K. Intelligent Transportation System Market by Application (2018-2027 USD Mn)
7.1.4.3. France
7.1.4.3.1. France Intelligent Transportation System Market by Type (2018-2027 USD Mn)
7.1.4.3.2. France Intelligent Transportation System Market by Application (2018-2027 USD Mn)
7.1.4.4. Italy
7.1.4.4.1. Italy Intelligent Transportation System Market by Type (2018-2027 USD Mn)
7.1.4.4.2. Italy Intelligent Transportation System Market by Application (2018-2027 USD Mn)
7.1.4.5. Rest of Europe
7.1.4.5.1. Rest of Europe Intelligent Transportation System Market by Type (2018-2027 USD Mn)
7.1.4.5.2. Rest of Europe Intelligent Transportation System Market by Application (2018-2027 USD Mn)

 

8. Asia Pacific Intelligent Transportation System Market Analysis and Forecast, 2018 – 2027 (USD Mn)


8.1.1. Overview
8.1.2. Asia Pacific Intelligent Transportation System Market by Type (2018-2027 USD Mn)
8.1.3. Asia Pacific Intelligent Transportation System Market by Application (2018-2027 USD Mn)
8.1.4. Asia Pacific Intelligent Transportation System Market by Country (2018-2027 USD Mn)
8.1.4.1. China
8.1.4.1.1. China Intelligent Transportation System Market by Type (2018-2027 USD Mn)
8.1.4.1.2. China Intelligent Transportation System Market by Application (2018-2027 USD Mn)
8.1.4.2. Japan
8.1.4.2.1. Japan Intelligent Transportation System Market by Type (2018-2027 USD Mn)
8.1.4.2.2. Japan Intelligent Transportation System Market by Application (2018-2027 USD Mn)
8.1.4.3. Rest of Asia Pacific
8.1.4.3.1. Rest of Asia Pacific Intelligent Transportation System Market by Type (2018-2027 USD Mn)
8.1.4.3.2. Rest of Asia Pacific Intelligent Transportation System Market by Application (2018-2027 USD Mn)

 

9. Latin America (LATAM) Intelligent Transportation System Market Analysis and Forecast, 2018 – 2027 (USD Mn)


9.1.1. Overview
9.1.2. Latin America Intelligent Transportation System Market by Type (2018-2027 USD Mn)
9.1.3. Latin America Intelligent Transportation System Market by Application (2018-2027 USD Mn)
9.1.4. Latin America Intelligent Transportation System Market by Country (2018-2027 USD Mn)
9.1.4.1. Brazil
9.1.4.1.1. Brazil Intelligent Transportation System Market by Type (2018-2027 USD Mn)
9.1.4.1.2. Brazil Intelligent Transportation System Market by Application (2018-2027 USD Mn)
9.1.4.2. Mexico
9.1.4.2.1. Mexico Intelligent Transportation System Market by Type (2018-2027 USD Mn)
9.1.4.2.2. Mexico Intelligent Transportation System Market by Application (2018-2027 USD Mn)
9.1.4.3. Rest of Latin America
9.1.4.3.1. Rest of Latin America Intelligent Transportation System Market by Type (2018-2027 USD Mn)
9.1.4.3.2. Rest of Latin America Intelligent Transportation System Market by Application (2018-2027 USD Mn)

 

10. Middle East and Africa Intelligent Transportation System Market Analysis and Forecast, 2018 – 2027 (USD Mn)


10.1.1. Overview
10.1.2. MEA Intelligent Transportation System Market by Type (2018-2027 USD Mn)
10.1.3. MEA Intelligent Transportation System Market by Application (2018-2027 USD Mn)
10.1.4. Middle East and Africa Intelligent Transportation System Market, by Country (2018-2027 USD Mn)
10.1.4.1. GCC
10.1.4.1.1. GCC Intelligent Transportation System Market by Type (2018-2027 USD Mn)
10.1.4.1.2. GCC Intelligent Transportation System Market by Application (2018-2027 USD Mn)
10.1.4.2. South Africa
10.1.4.2.1. South Africa Intelligent Transportation System Market by Type (2018-2027 USD Mn)
10.1.4.2.2. South Africa Intelligent Transportation System Market by Application (2018-2027 USD Mn)
10.1.4.3. Rest of MEA
10.1.4.3.1. Rest of MEA Intelligent Transportation System Market by Type (2018-2027 USD Mn)
10.1.4.3.2. Rest of MEA Intelligent Transportation System Market by Application (2018-2027 USD Mn)

 

11. Company Profiles


11.1. Siemens AG
11.1.1. Business Description
11.1.2. Financial Health and Budget Allocation
11.1.3. Product Positions/Portfolio
11.1.4. Recent Development
11.1.5. SWOT Analysis
11.2. Thales Group
11.2.1. Business Description
11.2.2. Financial Health and Budget Allocation
11.2.3. Product Positions/Portfolio
11.2.4. Recent Development
11.2.5. SWOT Analysis
11.3. IBM Corporation
11.3.1. Business Description
11.3.2. Financial Health and Budget Allocation
11.3.3. Product Positions/Portfolio
11.3.4. Recent Development
11.3.5. SWOT Analysis
11.4. Cubic Corporation
11.4.1. Business Description
11.4.2. Financial Health and Budget Allocation
11.4.3. Product Positions/Portfolio
11.4.4. Recent Development
11.4.5. SWOT Analysis
11.5. Denso Corporation
11.5.1. Business Description
11.5.2. Financial Health and Budget Allocation
11.5.3. Product Positions/Portfolio
11.5.4. Recent Development
11.5.5. SWOT Analysis
11.6. Addco
11.6.1. Business Description
11.6.2. Financial Health and Budget Allocation
11.6.3. Product Positions/Portfolio
11.6.4. Recent Development
11.6.5. SWOT Analysis
11.7. Agero, Inc.
11.7.1. Business Description
11.7.2. Financial Health and Budget Allocation
11.7.3. Product Positions/Portfolio
11.7.4. Recent Development
11.7.5. SWOT Analysis
11.8. Hitachi, Ltd.
11.8.1. Business Description
11.8.2. Financial Health and Budget Allocation
11.8.3. Product Positions/Portfolio
11.8.4. Recent Development
11.8.5. SWOT Analysis
11.9. Garmin Ltd.
11.9.1. Business Description
11.9.2. Financial Health and Budget Allocation
11.9.3. Product Positions/Portfolio
11.9.4. Recent Development
11.9.5. SWOT Analysis
11.10. Xerox Corporation
11.10.1. Business Description
11.10.2. Financial Health and Budget Allocation
11.10.3. Product Positions/Portfolio
11.10.4. Recent Development
11.10.5. SWOT Analysis
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