Intelligent Transportation Systems Market - Growth, Trends, and Forecast (2020 - 2025)

The Intelligent Transportation Systems Market is segmented by System (Advanced Traffic Management System, Advanced Traveller Information System, Advanced Public Transportation System, and Commercial Vehicle Operation), Component (Interface Boards, Sensors, Software, Surveillance Camera, Telecommunication Networks, Monitoring and Detection Systems, and Others), Application (Fleet Management and Asset Monitoring, Traffic Monitoring System, Traffic Signal Control Systems, Parking Convenience Systems, Traffic Enforcement Cameras, and Accident Avoidance Systems), and Geography.

Market Snapshot

Study Period:

2019-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

Greater Than 5.5 %

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Market Overview

The Intelligent Transportation Systems Market is expected to register a CAGR of over 5.5% during the forecast period.

The term, 'Intelligent Transportation Systems' was coined over two decades ago to designate applications of information and communication technologies to the operational management of transportation networks. The Intelligent Transportation Systems market growth is currently being hindered by the lack of inter-operability and standardization. The rapidly expanding telematics and vehicle infotainment industry, coupled with continued explosive growth of the commercial connected vehicle will see the emergence of new data streams, provided by the auto industry, and openly accessible to the developer community.

The open data streams will facilitate the development of additional applications and services and represents the industry’s first extensive, real-time and anonymized data set, which is sourced from the traditional passenger vehicles. The major objective of the intelligent transport system market is to reduce traffic congestion, pollution level, and to control the number of road accidents. The major reasons behind the increase in traffic congestion are the growth in the number of vehicles on the roads, increase in population, and migration of the rural areas to the metropolitan cities.

Scope of the Report

The Intelligent Transportation Systems Market is segmented by Systems (Advanced Traffic Management System, Advanced Traveler Information System, Advanced Public Transportation System, and Commercial Vehicle Operation), by Components (Interface Boards, Sensors, Software, Surveillance Camera, Tele-Communication Networks, Monitoring & Detection Systems, and Others), by Application (Fleet Management & Asset Monitoring, Traffic Monitoring System, Traffic Signal Control Systems, Parking Convenience Systems, Traffic Enforcement Cameras, and Accident Avoidance Systems), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World)              

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Key Market Trends

Increased Adoption of Sensors in Transportation Systems

Technological advances in information technology, coupled with ultramodern/state-of-the-art microchip, improvements in RFID technologies and inexpensive intelligent and advanced sensing technologies, have enhanced the technical capabilities that would facilitate safety benefits for intelligent transportation systems in the global market.

This segment would account to a larger market share of the overall component type of ITS as of 2018. Infrastructure sensors are indestructible devices that are embedded in the road or surrounding the road (e.g., on buildings, posts, and signs), as required, and are manually or automatically operated.  Vehicle-sensing systems include deployment of infrastructure-to-vehicle and vehicle-to-infrastructure electronic intelligent sensors for identification communications and may also employ video automatic number plate recognition technologies or vehicle magnetic signature detection technologies at desired intervals to increase monitoring of vehicles operating in critical zones.

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Emerging Countries such as Russia, India, Brazil, and South Africa Growing Rapidly

ITS include telematics and all types communication in vehicles, between other vehicles and other connected devices. Intelligent Transportation Systems are not restricted to land transport, but also include all type of navigation and communication system in rail, water and air transport.

Increase in adoption of intelligent transportation system in emerging countries such as Russia, India, Brazil, and South Africa would be a key factor in driving the intelligent transportation system market. The ITS market would grow significantly at a higher rate in Asia-Pacific countries during the forecasted period since ITS helps the consumers significantly in reducing travel time by avoiding overcrowded routes or traffics, which are more relevant with the APAC countries. ITS industry has grown at an average rate of 15% annually over the past 10 years.

With CAFÉ standards and EU regulations becoming increasingly stringent, automobile manufacturers are forced to seek for better ways to increase vehicle safety and driver assistance systems. In addition, consumers are also demanding new innovative features and services that seamlessly integrate into their digitized and mobile lifestyles. To meet these requirements, traditional automotive players are reinventing their business models and are increasingly involved in integrating intelligent transportation systems by adding telematics for various vehicle, driver safety assistance measures, and other in-vehicle infotainment services.

The growth of the Intelligent Transportation Systems market is currently being hindered by the lack of inter-operability and standardization. The rapidly expanding telematics and vehicle infotainment industry, coupled with explosive growth of the commercial connected vehicle across different type of vehicles will see the emergence of improved data streams, and would viciously help to augment the global Intelligent Transportation System market.

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Competitive Landscape

TransCore, Kapsch TrafficCom AG, Efkon AG, TomTom NV, DENSO Corporation, Thales SA are active players in the market. The high cost of intelligent transportation system makes it difficult for manufacturers to keep the product prices low. Automobile manufacturers have to either keep their profit margins low or shift the pressure onto the customers. However, in the current price-sensitive market, in which customers are looking for products that offer them the maximum value for money, it has become difficult for manufacturers to shift the pricing pressure completely onto customers. Consequently, manufacturers are compelled to keep their margins low. This in turn affects the financial status of the manufacturers and restricts them from spending on other activities, including R&D, which further affects the development of automobile-embedded telematics.

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 System

      1. 5.1.1 Advanced Traffic Management System

      2. 5.1.2 Advanced Traveler Information System

      3. 5.1.3 Advanced Public Transportation System

      4. 5.1.4 Commercial Vehicle Operation

    2. 5.2 Component

      1. 5.2.1 Interface Boards

      2. 5.2.2 Sensors

      3. 5.2.3 Software

      4. 5.2.4 Surveillance Camera

      5. 5.2.5 Tele-Communication Networks

      6. 5.2.6 Monitoring and Detection System

      7. 5.2.7 Others

    3. 5.3 Application

      1. 5.3.1 Fleet Management and Asset Monitoring

      2. 5.3.2 Traffic Monitoring System

      3. 5.3.3 Traffic Signal Control Systems

      4. 5.3.4 Parking Convenience Systems

      5. 5.3.5 Traffic Enforcement Cameras

      6. 5.3.6 Accident Avoidance Systems

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Rest of Asia-Pacific

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Denso Corporation

      2. 6.2.2 EFKON GmbH

      3. 6.2.3 Garmin Ltd.

      4. 6.2.4 Kapsch TrafficCom AG

      5. 6.2.5 Search Results Finance results Nuance Communications Inc.

      6. 6.2.6 Savari, Inc.

      7. 6.2.7 Thales SA

      8. 6.2.8 TomTom NV

      9. 6.2.9 TransCore

      10. 6.2.10 Q-Free ASA

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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