Intelligent Transportation System Market (By Type: ATIS, ATPS, ATMS, EMS, and APTS; By Application: Road Safety & Security, Traffic Management, Public Transport, Freight Management, Environment Protection, Parking Management, Automotive Telematics, Road Tolling Systems) - Global Industry Analysis, Size, Share, Growth, Trends Analysis, Regional Outlook and Forecasts, 2021 - 2030

The global intelligent transportation system (ITS) market size was valued at USD 29.69 billion in 2020 and is expected to reach US$ 47.89 Bn by 2030, growing at a compound annual growth rate (CAGR) of 6.3% from 2020 to 2030.

Growth Factors

Increasing adoption of smart transport systems in order to reduce traffic congestion along with favorable government initiatives that support intelligent transport infrastructure cater the growth global intelligent transportation system market. In addition, the rising necessity for obtaining real-time information for improving the traffic management system by sharing required data with drivers and passengers also aid the growth of the ITS market.

Meanwhile, the ageing infrastructure, increasing number of vehicles on road, lack of proper traffic management system are some of the factors that contribute to the spontaneous growth of the market. A need to update the traffic management system has led to the rapid adoption of alternative technologies for managing traffic. Advanced and innovative data analytics technologies help transportation authorities to monitoring the rising traffic issue. This also helps in speedy response to emergencies and accidents with higher efficiency.

The sudden outbreak of COVID-19 has badly impacted several industries including automobile and transportation business too. This has slowed down the rate of automobile production. Further, by the preventive measures adopted by the government of various nations for controlling the spread of the deadly virus public transportation sector have suffered a lot. Thus, the rate of intelligent transportation system estimated to exhibit a decelerating rate during the COVID-19 times.

Type Insights

Advanced Traffic Management System (ATMS) captured majority of market share nearly 31.8% in the year 2020. This is mainly because ATMS helps in detecting roadway hazards, dangerous weather condition, picturizes a complete integrated view of the traffic, and accidents. This allows speedy flow of the traffic. Additionally, ATMS also controls the traffic signals that contribute significantly in the congestion and also reduce the travelling time for passengers and drivers.

On the other hand, Advanced Public Transportation System (APTS) anticipated to exhibit the fastest growth over the projected timeframe. Some of the prime factors contributing towards the flourishing growth of the segment are enhanced visibility, rising number of passengers in public transports, increasing investment in real-time security and information system in order to provide real-time status to the drivers.

Application Insights

Traffic management segment captured the largest revenue share of the global intelligent transportation system market around 32% in the year 2020. This is mainly attributed to the benefits offered by the application. Traffic management systems comprises of bridge traffic management systems, vehicle detection system, and ramp metering systems among others. Increasing traffic congestion impact adversely on the development and socio-economic growth of a nation as it resulted in higher fuel consumption, more traffic time, and monetary losses. Henceforth, traffic management systems help governments to reduce financial burden.

On the other hand, automotive telematics anticipated to grow at the highest rate during the upcoming years owing to various regulations pertaining to security and safety of vehicle as well as passengers. Telematics tracking systems include activating and accessing of remote vehicles using radio frequency identification.

Moreover, a surge in the road traffic has significantly triggered the demand for parking management systems. Advanced parking management solution reduces the wastage of time as well as provides high convenience for vehicle owner. Further, the rapid transformation in the city life culture and increasing importance of smart city expected to propel the acceptance of parking management solutions.

Regional Insights

North America is the front-runner in the global intelligent transportation system market capturing nearly 41% of the total market revenue share in year 2020. This is mainly attributed to the significant investment done by the government in the region on research and development. Advancement in communication technology in the U.S. expected to boost the revolution in the transportation industry. Technologies such as advanced driver assistance, adaptive cruise control, parking management, advanced vehicle tracking system, and many others are facilitating drivers, freight operators, transit passengers, and transport authorities for communication between two vehicles.

However, continuous development in the communication sector along with rapid expansion in the transportation sector anticipated to flourish the market growth for intelligent transportation systems in the Asia Pacific region. China, Japan, India, and South Africa are some of the notable countries where intelligent transportation system adoption rate is very fast.

Key Companies & Market Share Insights

Intelligent Transportation System Market is consolidated because of the presence of some major market players such as Hitachi Ltd., Siemens AG, Kapsch TrafficCom, and Lanner Electronics among others. These companies are benefited by their diverse product offering and technological advancement in the intelligent transportation systems industry that help them to capture large customer base. In addition, these companies invest significantly in their product enhancement and regional expansion to gain a competitive edge on the global level.

Some of the prominent players in the Intelligent Transportation System Market include:

  • Lanner Electronics
  • Hitachi Ltd.
  • Kapsch TrafficCom
  • Denso Corporation
  • TomTom International BV
  • Siemens AG
  • Garmin International
  • Clever Devices Ltd.
  • Nuance Communications
  • Lanner Electronics
  • Thales Group

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Precedence Research has segmented the global Intelligent Transportation System Market report on the basis of type, application, and region:

  • Type Outlook
    • ATIS
    • ATPS
    • ATMS
    • EMS
    • APTS
  • Application Outlook
    • Road Safety & Security
    • Traffic Management
    • Public Transport
    • Freight Management
    • Environment Protection
    • Parking Management
    • Automotive Telematics
    • Road Tolling Systems
  • Regional Outlook
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
    • Rest of the World
Request for Customize Report
Precedence offers custom market research services that help clients to get information on their business scenario required.

FAQ's

What is intelligent transportation system?
Intelligent transportation system is a combination of various advanced information and communication technologies that helps in managing the traffic as well as changes the way consumers, government, and businesses deal with the transports. It provides various types of services such as fleet management, parking management system, smart ticketing solution, intelligent traffic management, security & surveillance, passenger information solution, and mobility services.
The global intelligent transportation system market size was valued at USD 29.69 billion in 2020 and is predicted to be worth around US$ 47.89 Bn by 2030.
The intelligent transportation system market is growing at a CAGR of 6.3% between forecast period 2021 to 2030.
The Asia Pacific estimated to exhibit the fastest CAGR over the forecast period because of rapid transformation in the automotive and transportation sector.
North America led the global intelligent transportation system market with a revenue share of nearly 41% in the year 2020 due to technological advancement and rapid transformation in the automotive sector.
Automotive telematics segment estimated to witness the highest growth rate of nearly 7.3% during the forecast period due to its positive impact on increasing the safety and security of a vehicle.
Some of the key players in the global intelligent transportation system market are Lanner Electronics, Hitachi Ltd., Kapsch TrafficCom, Denso Corporation, TomTom International BV, Siemens AG, Garmin International, Clever Devices Ltd., Nuance Communications, Lanner Electronics, and Thales Group among others.

PROCEED TO BUY

   USD 4999
   USD 7999

ASK FOR SAMPLE

No cookie-cutter, only authentic analysis – take the 1st step to become an Precedence client

Get a Sample
Address: Apt 1408 1785 Riverside Drive Ottawa, ON, K1G 3T7, Canada
Call: +1 9197 992 333
Email: sales@precedenceresearch.com