Intelligent Transportation System Market - Trends Forecast Till 2028

Intelligent Transportation System Market with COVID-19 Impact Analysis, by Offering, System (Advanced Traffic Management Systems, ITS-enabled Transportation Pricing Systems, and Others), Application, and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: November, 2021

Base Year Estimate: 2020

Report ID: D-AU-ITSM-500

Format:  

Number of Pages: 344

Domain: Automotive

Intelligent Transportation System Market – Trends Forecast Till 2028

The global ITS market is expected to grow from USD 42.2 billion in 2021 to USD 68.0 billion by 2026, at a CAGR of 10.0% from 2021 to 2028.

The intelligent transportation system market refers to the application of innovative communication and information technologies in traffic and transportation system operations to enhance driver experience in a myriad of different ways. In other words, the ITS market is essentially any mode of transportation that involves intelligent communication technologies. ITS is part of the Internet of Things and includes both wireless and wireline communication-based information.

Government efforts to ensure road and public safety, increased need to reduce traffic congestion, favourable government initiatives for effective traffic management, high adoption of eco-friendly automobile technology, and rapid development of smart cities globally are some of the factors that have supported long-term expansion for Intelligent Transportation System Market.

The ITS market includes major Tier I and II suppliers such as Thales Group (France), Siemens (Germany), Kapsch TrafficCom (Austria), Conduent, Inc. (US), Cubic Corporation (US), and so on. These suppliers have their manufacturing facilities spread across various countries across North America, Europe, APAC, and RoW. COVID-19 has impacted their businesses as well.

Intelligent Transportation System Market Report

APAC is expected to register the highest growth in the ITS market during the forecast period. The increasing number of megacities and growing population in developing countries have increased the deployment of ITS in countries such as China, Japan, Australia, and Rest of APAC.

Intelligent Transportation System Market is segmented into material, system, application (roadways, railways, aviation, maritime) and region.

On the basis of Material Offering

  • hardware
  • software
  • services

On the basis of System

  • ATMS
  • ATIS
  • ITPS
  • APTS
  • CVO

On the basis of Application – Roadways  

  • Intelligent Traffic Control
  • Collision Avoidance
  • Parking Management
  • Passenger Information Management
  • Ticketing Management
  • Emergency Vehicle Notification
  • Automotive Telematics
  • Fleet Management and Asset Monitoring

On the basis of Application – Railways

  • Rail-running Operation and Collision Avoidance
  • Passenger Information Management
  • Smart Ticketing
  • Security & Surveillance
  • Emergency Notification

On the basis of Application – Aviation

  • Security & Surveillance
  • Shuttle Bus Tracking
  • Traveler Information Management
  • Smart Ticketing
  • Aircraft Management
  • Emergency Notification

On the basis of Application – Maritime

  • Freight Arrival & Transit
  • Real-time Wheather Information Tracking
  • Container Movement Scheduling
  • Emergency Notification

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Intelligent Transportation System Market Primary Respondent

 

Key Players

  • Thales Group
  • Siemens
  • Kapsch TrafficCom
  • Conduent, Inc.
  • Cubic Corporation

Recent Developments

  • In September 2021, Siemens has signed a contract with the National Authority for Tunnels (NAT) to deliver a comprehensive rail system that will feature the first-ever high-speed, electrified main, and freight rail line transforming Egypt’s transportation. Siemens Mobility will provide its comprehensive turnkey services to design, install, commission, and maintain the systems for 15 years. The total contract value is approximately USD 4.5 billion, of which Siemens Mobility’s share is around USD 3 billion.
  • In June 2021, Kapsch TrafficCom announced that it had received a project from Plenary Infrastructure Group (Australia) to install a new toll collection system at the Louisiana Highway (LA-1) for the Louisiana Department of Transportation and Development (LADOTD). The project is an amendment to Kapsch’s existing contract with Plenary, where Kapsch is providing an end-to-end all-electronic tolling system and related maintenance services for a major bridge and tunnel replacement in Belle Chasse, Louisiana.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Intelligent Transportation System Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Market Revenue In 2021

USD 42.2 billion

Growth Rate

CAGR of 10.0% during the forecasting period, 2021-2026

Historical Data

2018-2019

Forecast Years

2021-2026

Base Year

2020

Units Considered

Revenue in USD billion and CAGR from 2021 to 2026

Report Segmentation

material, system, application (roadways, railways, aviation, maritime) and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Thales Group, Siemens, Kapsch TrafficCom, Conduent, Inc.  and Cubic Corporation.

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