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)
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.
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.
Insights are provided for each region and major countries within the regions
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. |
Available Customization |
In addition to the market data for Intelligent Transportation System Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Intelligent Transportation System Market is segmented into material, system, application (roadways, railways, aviation, maritime) and region.