The global Intelligent Transportation System market is projected to reach US$ 53.06 billion by 2032, growing at a CAGR of 7.2%
.jpg "The Global Intelligent Transportation System Market 2022-2032 (USD Billion)")
The market of Intelligent Transportation System is growing due to its feature of providing ease to travellers. The growing requirement for integrated smartphone systems in public transportations is growing due to safety issues of travelling people. The growing number of metro cities and overall population in both developing and developed nations have increased the importance of implementing the intelligent transport system (ITS). These systems basically contain all types of public transports systems viz rail and road. With the help of redeveloping the systems like carrier access for land mobiles (CALM), GPS, Dedicate Short Range Communication (DSRC) and so on. Across the globe, government officiation are aware of the importance and benefits of implementation of ITS. This has led to increased recommendation by government officials and resulting in market growth.
To maintain uniformity the government departments are creating specific programs and further taking initiatives for implementation of these systems. Also, an effective transport system normally helps in controlling traffic congestions and improve overall environmental benefits by helping in keeping the pollution under control and these factors act as major market drivers. However, the major restraining factor is the overall slow-paced growth of infrastructure, mainly in developing countries of the world. Another factor is the large installation cost involved in the same. There is no set standard and guideline with respect to implementation of the systems. To help solve these challenges various key players and government organizations are coming with strategic partnerships.
The market is also governed by the development happening across the production of smart vehicles. These would operate on controlled roads and would work with state of art infrastructure with latest technologies.
The global intelligent transportation system is segmented because of application, type and region. Segmentation because of application is done as road safety, public transport, automotive telematics, traffic management, freight Management, environment protection, and others. Among these the freight management and road safety contribute to the maximum of market share. Based on type segmentation is done as Advanced Public Transportation System (APTS), Advanced Traveller Information System, Commercial Vehicle Operation and Vehicle-to-Vehicle Interaction, Advanced Traffic Management System, Vehicle-to-Infrastructure Interaction and ITS ? Enabled Transportation Pricing System. Geographically the market is segmented as Europe, Middle East, Asia-Pacific, Latin America, North America, and (ROW) Rest of the world. Based on region North America is growing at a fast pace and Asia-Pacific is predicted to grow due to increased development in the technology world.
Key players of the market are Siemens, FLIR Systems, Thales, Denso and others. The report discusses all the factors that effect the growth of the global intelligent transportation system market. The report also gives an in-depth study of the strategies adopted by the various key players.
Intelligent Transportation System Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | US$ 53.06 billion |
| Growth Rate | CAGR of 7.2 % during 2022-2032 |
| Segment Covered | By Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Thales Group, Transcore, Siemens AG, Garmin Ltd., Efkon AG, Lanner Electronics Inc., Kapsch Trafficcom, Ricardo Plc, Tomtom International BV, Iteris Inc., Q-Free ASA, Atkins Group, Denso Corporation |
Type Outlook
• ATIS
• ATMS
• ATPS
• APTS
• EMS
Application Outlook
• Traffic Management
• Road Safety and Security
• Freight Management
• Public Transport
• Environment Protection
• Automotive Telematics
• Parking Management
• Road Tolling Systems
Regional Overview,
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Rest of South America
Frequently Asked Questions (FAQ) :
The application of the intelligent transportation system market road safety, public transport, automotive telematics, traffic management, freight Management, environment protection, Parking Management, Road Tolling Systems and other.
Siemens, FLIR Systems, Thales, Denso are a few major players in intelligent transportation system market.
To get latest version of intelligent transportation system market report can be obtained on demand from the website.
Intelligent transportation system (ITS) are systems that sense, analyse, control and communicate technologies among on road transportation, to improve mobility, safety and improve efficiency. ITS has many benefits, some of the main ones being ease of traffic congestion, better traffic management, reduce the harmful environment impact and grow benefits of transportation to everyone.
Transportation in the years has evolved a lot since generations. From hand pulled carts, bullock carts, fuel operated automobiles and battery-operated automobiles. Humans have developed and experienced all of it. In the current Digital-Era, every aspect of our life is governed by digital technologies. Automated driving automobiles is the next thing in the automobile industry. Driverless cars are expected to be the next trend in the automobile industry. Technologies in terms of transportation is being developed to accommodate various consumer demands.
Industry experts predict that new transportation technologies like autonomous vehicles, keyless fleet management and traffic analytics are going to be the market drivers. With the help of Internet of Thinsgs (IoT) technology the intelligent transportation system is likely to transform the transportation system. It is expected to become the dynamic component of every city and would influence the way people travel and would further improve overall lifestyle.
Intelligent transport system work by gathering data that helps various civic leaders make better and informed decisions. These systems help the local transport managers to analyse traffic data and plan further development accordingly. ITS haves an important effect on the transportation system and is used in toll collection, traffic cameras, traffic signal coordination and traveller information systems. Many companies are working towards providing the best fit solutions in terms of intelligent transportation systems.
Siemens is one such organization which is developing various intelligent transport systems for various industry segments. The Atlanta Street car is a method to manage its light rail vehicle operations. Along with the Siemens Digital Rail Service the transit agency has developed a cloud-based platform that generates real-time data in the streetcar performance and to preserve the data to manage various important data. Similarly, there are other systems being developed by the technology giant. These are traffic management systems, innovative vehicle-to infrastructure and so on to help the ever-growing traffic across the globe.
The intelligent transportation system is a powerful system that helps in monitoring the inflight systems and is powered by GPS. Incidents of flights being delayed or loosing track when in air-borne are a cause of concern. This might proof fatal and cause damage to numerous lives. this is the time when the GPS system comes in use and helps the people on the ground monitor the flight progress.
Along with siemens there are various companies investing heavily on research and development in the sector. The intelligent transportation systems are influenced largely by the growing technology. Since technology is currently in the growing phase, the industry is also anticipating major growth in the coming years. Another factor helping the market is the various rules and regulations being set up by companies in favour of the intelligent transportation systems.