Intelligent Transportation System Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.11 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Intelligent Transportation System Market Analysis
The intelligent transport systems market was valued at USD 22.88 billion in 2020, and is expected to reach a value of USD 30.65 billion by 2026, at a CAGR of 5.11% over the forecast period (2021 - 2026).
- Intelligent transport systems refer to the advanced technologies that are being applied to vehicles, infrastructure, and operating systems, which make the vehicles intelligent. As ITS technologies are being used in various industries beyond transportation and logistics, the demand for such systems is increasing rapidly.
- Government regulations and initiatives are the most important drivers for the growth and development of the intelligent transportation system market. With growing road safety concerns and increasing vehicle theft, governments across the world, especially in the United States, Europe, China, and Brazil among others are mandating the installation of factory-fitted telematics and safety devices in vehicles.
- Although such applications are increasing the demand for ITS across the world, the high cost of these systems is making it difficult for many manufacturers to keep the prices of the end-product low, leading to slow market penetration.
Intelligent Transportation System Market Trends
This section covers the major market trends shaping the Intelligent Transport Systems Market according to our research experts:
Applications in Roadways are Becoming very Popular
- Roadways is the fastest-growing sector in the intelligent transport systems market. The increasing number of commercial fleets all over the world due to the increasing e-commerce activities and manufacturing activities is encouraging many logistics players to deploy proper asset monitoring and management systems.
- Companies, like GE Capital and AT&T have adopted telematics fleet solutions for continuous monitoring of fleet and real-time location status, which helps these companies schedule trips that would reduce the cost of maintenance and increase the driver’s productivity.
- Countries like the United States, Germany, and India, have increased their investments in the intelligent transport systems and have established laws that make telematics installations mandatory in many of the vehicle segment. The major concern for road safety, as these countries face high accident mortality rates, is driving the growth of the ITS market.
North America Holds the Largest Market Share
- North America is the most advanced market for ITS. The region is equipped with several ITS systems in place, in order to manage the increasing traffic and public transportation system.
- The region is witnessing exponential growth in the sales of commercial drones, along with countries like the United States imposing strong laws on drone pilots and registrations. Hence it is expected to create a huge demand for ITS systems in the airways sector over the forecast period.
- In the case of passenger and commercial road vehicles, North America has a strong demand for dedicated short-range communication devices that prevent traffic jams, which is ultimately driving the demand for ITS systems in the region.
Intelligent Transportation System Industry Overview
The intelligent transport systems marketis highly competitive and moving toward a fragmented stage dueto the presence of many large and small players in themarket. Players in the market are focusing on technological innovationand compatibility of their products and servicesas well as using strategies, such as acquisitions and collaborations to strengthen their presence in the market. Some of the players in the market are Siemens AG, Thales Group, IBM Corporation, Cubic Corporation, among others.
- January 2019 -The Department for Infrastructure (DfI) in Northern Ireland awarded Siemens a four-year contract. The contract covers both the maintenance and development of the existing traffic management systems, which are largely located in Belfast.
Intelligent Transportation System Market Leaders
Siemens AG
Thales Group
IBM Corporation
Cubic Corporation
Denso Corporation
*Disclaimer: Major Players sorted in no particular order
Intelligent Transportation System Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Introduction to Market Drivers and Restraints
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4.3 Market Drivers
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4.3.1 Increasing Demand for Efficient Traffic Management
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4.3.2 Growing Adoption of Smart Parking Management Systems
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4.4 Market Restraints
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4.4.1 Complexity Regarding Interoperability between User & Control Unit
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4.5 Value Chain Analysis
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4.6 Industry Attractiveness - Porter's Five Forces Analysis
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4.6.1 Threat of New Entrants
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4.6.2 Bargaining Power of Buyers/Consumers
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4.6.3 Bargaining Power of Suppliers
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4.6.4 Threat of Substitute Products
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4.6.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Mode of Transport
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5.1.1 Roadways
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5.1.2 Railways
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5.1.3 Airways
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5.2 By Type
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5.2.1 Advanced Traffic Management Systems (ATMS)
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5.2.2 Advanced Transportation Pricing System (ATPS)
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5.2.3 Advanced Traveler Information System (ATIS)
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5.2.4 Advanced Public Transportation System (APTS)
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5.2.5 Other Types
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5.3 By Deployment Mode
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5.3.1 On-Premise
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5.3.2 Cloud
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5.4 Geography
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5.4.1 North America
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5.4.1.1 United States
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5.4.1.2 Canada
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5.4.2 Europe
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5.4.2.1 United Kingdom
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5.4.2.2 Germany
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5.4.2.3 France
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5.4.2.4 Italy
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5.4.2.5 Rest of Europe
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5.4.3 Asia-Pacific
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5.4.3.1 China
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5.4.3.2 Japan
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5.4.3.3 South Korea
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5.4.3.4 India
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5.4.3.5 Australia
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5.4.3.6 Rest of Asia-Pacific
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5.4.4 Rest of the World
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5.4.4.1 Latin America
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5.4.4.2 Middle-East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Siemens AG
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6.1.2 Thales Group
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6.1.3 IBM Corporation
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6.1.4 Garmin International Inc
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6.1.5 Addco LLC
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6.1.6 TomTom NV
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6.1.7 Cubic Corporation
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6.1.8 FLIR Systems
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6.1.9 Lanner Electronics Inc.
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6.1.10 Denso Corporation
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- *List Not Exhaustive
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7. INVESTMENT ANALYSIS
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8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Intelligent Transportation System Industry Segmentation
Intelligent transportation system (ITS) is the application of sensing, analysis, control, and communications technologies in transportation in order to improve safety, mobility, and efficiency. They can be applied to different modes of transport like roadways, railways, airways.
| By Mode of Transport | |
| Roadways | |
| Railways | |
| Airways |
| By Type | |
| Advanced Traffic Management Systems (ATMS) | |
| Advanced Transportation Pricing System (ATPS) | |
| Advanced Traveler Information System (ATIS) | |
| Advanced Public Transportation System (APTS) | |
| Other Types |
| By Deployment Mode | |
| On-Premise | |
| Cloud |
| Geography | ||||||||
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Intelligent Transportation System Market Research FAQs
What is the current Intelligent Transport Systems Market size?
The Intelligent Transport Systems Market is projected to register a CAGR of 5.11% during the forecast period (2024-2029)
Who are the key players in Intelligent Transport Systems Market?
Siemens AG, Thales Group, IBM Corporation, Cubic Corporation and Denso Corporation are the major companies operating in the Intelligent Transport Systems Market.
Which is the fastest growing region in Intelligent Transport Systems Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Intelligent Transport Systems Market?
In 2024, the North America accounts for the largest market share in Intelligent Transport Systems Market.
What years does this Intelligent Transport Systems Market cover?
The report covers the Intelligent Transport Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Intelligent Transport Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Intelligent Transportation System Industry Report
Statistics for the 2024 Intelligent Transportation System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Intelligent Transportation System analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
