Intelligent Transportation Systems Market, by Systems (Advanced Traffic Management System, Advanced Traveler Information System, Advanced Public Transportation System, and Commercial Vehicle Operation), Components (Interface Boards, Sensors, Monitoring & Detection Systems, Software, Surveillance Camera, Tele-Communication Networks, Others), Application (Traffic Monitoring System, Fleet Management & Asset Monitoring, Traffic Signal Control Systems, Traffic Enforcement Cameras, Parking Convenience Systems, and Accident Avoidance Systems), Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) – Industry Trends and Forecast To 2030

The Global Intelligent Transportation Systems Market was valued USD 20.7 billion in 2021 and is projected to grow at a CAGR of 15.5% during the projected time frame.

Intelligent transportation systems (ITS) is an innovative application, which aims to offer advanced services involving diverse modes of traffic management and transport and allows users to be better informed and make more coordinated, safer, and smarter use of transport networks.

Some of these technologies involve calling for emergency facilities when an accident occurs, using cameras to execute traffic laws or signs that mark speed boundary changes dependent on situations.

The increasing demand for traffic control solutions and smart vehicles integrated with the newest telecommunications technology is expected to drive the demand for intelligent transportation systems market. The enhanced safety and surveillance offered by license plate recognitions (LPRs) and modern cameras are expected to propel market growth.

The increasing number of vehicles on road, a lack of traffic data management, and aging infrastructure are some of the other factors that are expected to contribute to the development of the market.

The increasing necessity to competently manage the traffic flow across city highways and corridors has generated the requirement for a substitute for the intelligent transportation systems market.

Furthermore, an effective transport system would help in controlling traffic congestions and surge environmental advantages by decreasing pollution, and these factors act as another key driver for the market.

On the other hand, the key restraint for the market is the slow development of infrastructure, mainly in the emerging regions of the world on account of the high price of installation.

Another major restraint of the development of the market is the negligible interoperability between numerous modes of technologies and transport and lack of standards. However, the key opportunity for the market lies in the growth of smart vehicles that would operate on intelligently controlled roads by the newest technologies.

TABLE 1: GLOBAL INTELLIGENT TRANSPORTATION SYSTEMS MARKET OVERALL SNAPSHOT

TABLE 1: GLOBAL INTELLIGENT TRANSPORTATION SYSTEMS MARKET OVERALL SNAPSHOT

 Market Segmentation

The intelligent transportation systems market is segmented by system, component, application, and region.

FIGURE 2: GLOBAL INTELLIGENT TRANSPORTATION SYSTEMS MARKET SEGMENTATION

FIGURE 2: GLOBAL INTELLIGENT TRANSPORTATION SYSTEMS MARKET SEGMENTATION

Global Intelligent Transportation Systems Market, by Systems

Based on systems, the market is segmented into advanced traffic management systems, advanced traveler information systems, advanced public transportation systems, and commercial vehicle operations.

The advanced traffic management system holds the largest market share in 2021 and is expected to remain the largest during the forecast period. The solutions offered by the major market companies can combine data processing technology with telecommunications and sensing to confirm real-time management of transportation networks and share the processed with travelers and drivers, and information gathered.

The surging number of vehicles on the road and the subsequent frequent traffic congestions have also required the deployment of advanced traffic management systems. These systems can possibly support dropping the travel time while confirming effective traffic management. It can also allow public safety agencies and authorities to respond to accidents and emergencies efficiently and rapidly.

Global Intelligent Transportation Systems Market, by Component:

Based on components, the market is segmented into sensors, software, interface boards, surveillance camera, monitoring & detection systems, telecommunication networks, and others.

The sensors segment holds the largest market share in 2021 and is anticipated to remain largest during the forecast period. The growth is attributed to technological developments in information technology and telecommunications. Additionally, the state-of-the-art microchip/ ultramodern, inexpensive intelligent beacon sensing technologies, and radio frequency identification (RFID), have improved the technical proficiencies that will facilitate driver safety welfares for market across the globe.

Additionally, the sensing or sensors systems for intelligent transportation systems are infrastructure and vehicle-based systems, i.e., intelligent vehicle technologies, which are expected to drive the demand in near future.

Global Intelligent Transportation Systems Market, by Application:

Based on application, the market is segmented into fleet management & asset monitoring, traffic monitoring system, traffic signal control systems, parking convenience systems, traffic enforcement cameras, and accident avoidance systems.

Among these applications, the traffic monitoring system segment holds the largest market share in 2021 and is expected to remain largest during the forecast period. The traffic management systems improve the operational performance and reliability of the road networks. These systems mainly comprise ramp metering systems, bridge traffic monitoring systems, and vehicle detection systems, among other systems.

Additionally, frequent traffic congestions often culminate in substantial monetary losses stopping from the surge in travel time and the development in fuel consumption. Traffic congestions also take a severe toll on the socio-economic and economic development of a country.

Therefore, government bodies across different parts of the globe are putting a robust emphasis on executing traffic monitoring systems as part of the efforts to decrease the financial load on governments. These factors will boost the traffic monitoring system segment growth.

Global Intelligent Transportation Systems Market, by Region:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. Among all, North America is expected to hold the largest market during the forecast period. The factors attributed to the growth include development and aggressive execution of the advanced and new technologies, such as cloud computing, machine learning (ML), internet of things (IoT), and big data.

Additionally, the region also includes key market companies, which will boost the growth of the market in North America. The governments in this region are focusing on improving transport infrastructure, which is propelling the adoption of intelligent transportation systems.

Numerous public-private association efforts to launch intelligent transportation systems are developing in several cities across North America in the wake of the subsequent traffic congestions and increasing traffic.

TABLE 2: GLOBAL INTELLIGENT TRANSPORTATION SYSTEMS MARKET OVERVIEW   

TABLE 2: GLOBAL INTELLIGENT TRANSPORTATION SYSTEMS MARKET OVERVIEW

FIGURE 2: GLOBAL INTELLIGENT TRANSPORTATION SYSTEMS MARKET (USD BILLION), 2021–2030

 FIGURE 2: GLOBAL INTELLIGENT TRANSPORTATION SYSTEMS MARKET (USD BILLION), 2021–2030

Recent Developments of Global Intelligent Transportation Systems Market:

  • January 2021, DENSO CORPORATION in association with Aeva, a developer of perception systems and LiDAR for autonomous vehicles, to progress perception and sensing systems. The association with envisages the two companies evolving Frequency Modulated Continuous Wave (FMCW) LiDAR that can possibly assist in measuring the reflectivity and velocity of vehicles.
  • October 2020, Hitachi, Ltd. Introduced a heavy-duty automated parking brake (APB HD) perfectly planned for vans, pickup trucks, SUVs, and light commercial vehicles. The new system enables APB safety and system management and permits extending the use of this technology to a wider extent.
  • January 2019, Northern Ireland’s, Department for Infrastructure (DFI) has been awarded Siemens a four-year agreement. The contract of this companies comprises both the growth and maintenance of the traffic management systems at present, which are mostly located in Belfast.

What Does This Report Provide?

This report provides a detailed understanding of the global intelligent transportation systems market from qualitative and quantitative perspectives during the forecast period. The major market drivers, challenges, and opportunities for the global intelligent transportation systems market have been covered in the report. This report further comprises the market shares of the top firms operating in the global intelligent transportation systems market, along with their production capacities and the growth policies accepted by them.

Market Segmentation:

By Systems:

  • Advanced Traffic Management System
  • Advanced Traveler Information System
  • Advanced Public Transportation System
  • Commercial Vehicle Operation

By Components:

  • Interface Boards
  • Sensors
  • Software
  • Surveillance Camera
  • Tele-Communication Networks
  • Monitoring & Detection Systems
  • Others

By Application:

  • Fleet Management & Asset Monitoring
  • Traffic Monitoring System
  • Traffic Signal Control Systems
  • Parking Convenience Systems
  • Traffic Enforcement Cameras
  • Accident Avoidance Systems

By Region:

North America Global Intelligent Transportation Systems Market

  • North America, by Country
    • U.S.
    • Canada
    • Mexico
  • North America, by System
  • North America, by Component
  • North America, by Application

Europe Global Intelligent Transportation Systems Market

  • Europe, by Country
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe 
  • Europe, by System
  • Europe, by Component
  • Europe, by Application

Asia Pacific Global Intelligent Transportation Systems Market

  • Asia Pacific, by Country
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia Pacific 
  • Asia Pacific, by System
  • Asia Pacific, by Component
  • Asia Pacific, by Application

Middle East and Africa Intelligent Transportation Systems Market

  • Middle East and Africa, by Country 
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of Middle East and Africa
  • Middle East and Africa, by System
  • Middle East and Africa, by Component
  • Middle East and Africa, by Application

South America Global Intelligent Transportation Systems Market

  • South America, by Country 
    • Brazil
    • Argentina
    • Rest of South America
  • South America, by System
  • South America, by Component
  • South America, by Application

Major Companies: The major companies included in the report are: Transcore Inc. (U.S.), Kapsch Trafficcom AG (Austria), Efkon AG (Austria), Q-Free (Norway), Thales Group (France).

Objectives of this Report:

  • To estimation the market size for the global intelligent transportation systems market on a global basis
  • To identify major segments in global intelligent transportation systems market and evaluate their market shares and demand
  • To offer an economical scenario for the market with key developments observed by the major companies in the historic years
  • To evaluate key factors governing the dynamics of the global intelligent transportation systems market with their potential gravity during the forecast period
  • To evaluate the top company-wise estimating analysis for the stated applications

Key Questioned Answered in the Study:

  • What are major growth drivers and market trends that are impacting the global intelligent transportation systems market?
  • What is the market size both in terms of value and volume for the global intelligent transportation systems market?
  • Who are the leading market players and who are the new market players that operate in the global intelligent transportation systems market with an estimated market share?
  • What are the future investment pockets and opportunities in the global intelligent transportation systems market?
  • Major list of clients and potential futuristic customer list along with an projected buying volume
  • Impact of COVID-19 pandemic on the global intelligent transportation systems market

Customization:

  • This study is personalized to meet your detailed requirements:
  • By sub-segment
  • By client-specific country, application, type, end use industry, and market analysis
  • Pricing analysis along with the possible list of clients
  • Product-specific competitive investigation

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