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Global Intelligent Transportation System Market
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Intelligent Transportation System is referred to an application that is used to provide passengers with an innovative travel experience with the help of technology. It is aimed at facilitating safe, comfortable and hassle free travel through the smarter use of transportation channel or networks. Furthermore, intelligent transport technologies have also shown efficacy during mass evacuations in case of natural or man- made disasters.
The global demand for intelligent transport system market was estimated at approximately USD 42.2 billion in 2021 and is forecasted to generate a revenue of USD 88.79 billion by the end of 2032, recording a CAGR of 10.0% during the forecast duration of 2022-2030.
| Attribute | Key Insights |
| Estimated Market Value (2021) | 42.2 USD Billion |
| Forecasted Market Value (2032) | 88.79 USD Billion |
| CAGR % 2023-2028 | 10%` |
| Leading Region | North America |
Key Trends
The primary factors fueling the growth of global intelligent transportation system market is rising government efforts to ensure road and public safety, growing requirements to control traffic congestion along with effective measures by concerned authorities to ensure the same. Citing an instance, in 2020, the government of UK made an investment of around USD 1.9 million for three projects involving the trail of innovative technology to enhance driving conditions, control traffic congestion, and reduce traffic jam times.
Alongside, increasing adoption of environment friendly automobile technology, prompt development of smart cities across the world, and rising public private partnerships for road and transportation projects are positively swaying the market dynamics.
On the contrary, high costs associated with the installation of intelligent transport system applications or devices is impacting the overall market progression. As a sophisticated traffic management center is a must for intelligent transport system which turns out to be quite costly. Apart from that CCTV cameras, mobile data terminals, microwave detectors, dynamic message signboards, along with such other systems and components are primarily required for an effective ITS system.
Also, the lack of proper infrastructure is proving as a hindrance when it comes to the installation of intelligent transport systems in various countries especially the developing ones.
By Component
- Hardware
- Software
- Services
The hardware segment is anticipated to capture a substantial market size ascribing to the installation of various ITS components and devices like intelligent traffic management systems, camera sensors, cameras, and traveler information systems across the worldwide intelligent transport system vertical.
By System
- ATMS
- ATIS
- ITPS
- APTS
- CVO
The advanced traffic management systems application is expected to account for a major market share during the forecast duration. This is credited to the factors like rising road traffic congestions across the globe mainly driven by the cost effectiveness of vehicles resulting in higher purchase and usage by the masses.
By Application
- Traffic Monitoring
- Fleet Management & Asset Monitoring
- Collision Avoidance Systems
- Parking Availability Systems
- Traffic Enforcement Cameras
- Variable Enforcement Cameras
- Roadways
o Parking Management
o Ticketing Management
o Passenger Information Management
o Emergency Vehicle Notification
o Fleet Management and Monitoring
o Intelligent Traffic Control
o Collision Avoidance
o Emergency Vehicle Notification
- Railways
o Smart Ticketing
o Emergency Notification
o Passenger Information Management
o Security & Surveillance
o Rail-running operation and Collision avoidance
o Others
- Aviation
o Smart Ticketing
o Shuttle Bus Tracking
o Emergency Notification
o Aircraft Management
o Traveler Information Management
o Security & Surveillance
o Others
- Maritime
o Security & Surveillance
o Passenger Information Management
o Emergency Notification
o Smart Ticketing
o Rail-running operation and collision avoidance
o Others
The report on global intelligent transportation system market further analyses the abovementioned segments and sub segments to accurately identify the size and scope of this market domain with the stipulated timeline.
Regional Analysis
The major regions constituting the geographical landscape of global intelligent transportation system market are North America, Europe, APAC , and RoW. Among these, Asia Pacific market is projected to record notable growth over the stipulated timeline owing to the rise in the number of megacities and population expansion in nations like China, India , Japan, among others have resulted in the deployment of intelligent transport systems to regulate traffic and ensure road safety. Also, strong economic development in various countries in the region is fueling the expansion of the APAC intelligent transportation system market.
Major players operating in global intelligent transportation system market are Thlaes Group (France), Siemens AG (Germany), Kapsch TrafficCom AG (Austria) , Conduent, Inc. (US), and Cubic Corporation (US), among others.
Notably, Siemens AG in September 2021 inked a contract with National Authority for Tunnels (NAT) which is intended at delivering a high speed, electrified main, and freight rail line which will be first of its kind in Egypt.
Also, Kapsch TrafficCom AG in June 2021 announced to have received a project from Plenary Infrastructure Group (Australia) aimed at the installation of a new toll collection system at Louisiana highway for the Louisiana Department of Transportation and Development.
Similarly, many other market players are taking several strategic decisions involving collaboration deals, partnerships, acquisitions, etc. to expand their reach and generate significant revenues.
- Global Intelligent Transportation System Market: Forecast Years- 2023-2032
- Global Intelligent Transportation System Market: Historical Years- 2018-2021
- Global Intelligent Transportation System Market: 2022- USD 42.1 Billion
- Global Intelligent Transportation System Projected Market 2032- USD 88.79 Billion
- Global Intelligent Transportation System Market CAGR- 10.0%
- Key Segments Reported- Offering (hardware, software, and services), by System (ATMS, ATIS, ITPS, APTS, and CVO), by Application (roadways, railways, aviation, and maritime)
- Key regions reported- North America, APAC, Europe, and RoW
- Key Players Profiled- Thlaes Group (France), Siemens AG (Germany), Kapsch TrafficCom AG (Austria) , Conduent, Inc.(US), and Cubic Corporation (US), among others.”
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