The global intelligent transport systems market size reached US$ 40.6 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 69.7 Billion by 2028, exhibiting a growth rate (CAGR) of 9.3% during 2023-2028.
The Intelligent Transport System (ITS) refers to a system that utilizes visual, analytical, control and communication technologies to manage different modes of on-road transportation efficiently. It is not only embedded within a vehicle but also in the infrastructure facilities to enhance on-road safety and achieve traffic efficiency by minimizing traffic problems. It uses various equipment such as ramp meters, electronic toll collectors, traffic light cameras, traffic-signal coordinators, transit signal systems and traveler-information systems.
The increasing number of smart cities, along with unprecedented population growth leading to widespread traffic congestion, are the key factors driving the market growth. The ITS significantly aids in the effective management of on-road traffic through Global Positioning System (GPS), Dedicated Short Range Communication (DSRC) and Carrier Access for Land Mobiles (CALM). Additionally, increasing occurrence of deaths due to road accidents have driven the demand for ITS across the globe. Advanced features such as Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) communication is creating a positive outlook for the market. These features provide real-time information to travelers about road conditions and construction zones, along with seat availability and timings of public modes of transport, thus enhancing the overall on-road safety and reducing the chances of fatalities while reducing the travel time. Moreover, increasing focus on research and development (R&D) in both the public and private sectors to incorporate more enhanced features is also contributing to the market growth.
2. What is the expected growth rate of the global intelligent transport systems market during 2023-2028?
3. What has been the impact of COVID-19 on the global intelligent transport systems market?
4. What are the key factors driving the global intelligent transport systems market?
5. What is the breakup of the global intelligent transport systems market based on the mode of transport?
6. What is the breakup of the global intelligent transport systems market based on the product?
7. What is the breakup of the global intelligent transport systems market based on the offering?
8. What is the breakup of the global intelligent transport systems market based on the application?
9. What are the key regions in the global intelligent transport systems market?
10. Who are the key players/companies in the global intelligent transport systems market?
The Intelligent Transport System (ITS) refers to a system that utilizes visual, analytical, control and communication technologies to manage different modes of on-road transportation efficiently. It is not only embedded within a vehicle but also in the infrastructure facilities to enhance on-road safety and achieve traffic efficiency by minimizing traffic problems. It uses various equipment such as ramp meters, electronic toll collectors, traffic light cameras, traffic-signal coordinators, transit signal systems and traveler-information systems.
The increasing number of smart cities, along with unprecedented population growth leading to widespread traffic congestion, are the key factors driving the market growth. The ITS significantly aids in the effective management of on-road traffic through Global Positioning System (GPS), Dedicated Short Range Communication (DSRC) and Carrier Access for Land Mobiles (CALM). Additionally, increasing occurrence of deaths due to road accidents have driven the demand for ITS across the globe. Advanced features such as Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) communication is creating a positive outlook for the market. These features provide real-time information to travelers about road conditions and construction zones, along with seat availability and timings of public modes of transport, thus enhancing the overall on-road safety and reducing the chances of fatalities while reducing the travel time. Moreover, increasing focus on research and development (R&D) in both the public and private sectors to incorporate more enhanced features is also contributing to the market growth.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global intelligent transport systems market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on mode of transport, product, protocol, offering and application.Breakup by Mode of Transport:
- Roadways
- Railways
- Airways
Breakup by Product:
- Network Management Systems
- Advanced Traffic Management Systems (ATMS)
- Road User Charging, Congestion Charging, etc.
- Freight and Commercial Systems
- Public Transport Systems
- Security and Crime Reduction Systems
- Automotive and Infotainment Systems
- Road Safety Systems
- Communications Systems
Breakup by Protocol:
- Short Range
- Wave (IEEE 802.11)
- Wpan (IEEE 802.15)
- Long Range
- Wimax (IEEE 802.11)
- Ofdm
- IEEE 1512
- Traffic Management Data Dictionary (TMDD)
- Others
Breakup by Offering:
- Hardware
- Interface Board
- Sensor
- Surveillance Camera
- Telecommunication Network
- Monitoring and Detection System
- Others
- Software
- Visualization Software
- Video Detection Management Software
- Transit Management System
- Others
- Services
- Business and Cloud Services
- Support and Maintenance Services
Breakup by Application:
- Fleet Management and Asset Monitoring
- Intelligent Traffic Control
- Collision Avoidance
- Parking Management
- Passenger Information Management
- Ticketing Management
- Emergency Vehicle Notification
- Automotive Telematics
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Siemens AG, Thales Group, Garmin Ltd., Cubic Corporation, FLIR Systems, Lanner Electronics, DENSO Corporation, International Business Machines (IBM) Corporation, ADDCO Acquisition, LLC, TomTom N.V., Kapsch TrafficCom AG, Iteris, Inc., Q-Free ASA, Efkon GmbH, GeoToll , Inc., ElectricFeel AG, Doublemap, LLC, BestMile Sarl, Aptiv PLC (nuTonomy), etc.Key Questions Answered in This Report
1. What was the size of the global intelligent transport systems market in 2022?2. What is the expected growth rate of the global intelligent transport systems market during 2023-2028?
3. What has been the impact of COVID-19 on the global intelligent transport systems market?
4. What are the key factors driving the global intelligent transport systems market?
5. What is the breakup of the global intelligent transport systems market based on the mode of transport?
6. What is the breakup of the global intelligent transport systems market based on the product?
7. What is the breakup of the global intelligent transport systems market based on the offering?
8. What is the breakup of the global intelligent transport systems market based on the application?
9. What are the key regions in the global intelligent transport systems market?
10. Who are the key players/companies in the global intelligent transport systems market?
Table of Contents
1 Preface3 Executive Summary13 Value Chain Analysis15 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Intelligent Transport Systems Market
6 Market Breakup by Mode of Transport
7 Market Breakup by Product
8 Market Breakup by Protocol
9 Market Breakup by Offering
10 Market Breakup by Application
11 Market Breakup by Region
12 SWOT Analysis
14 Porters Five Forces Analysis
16 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Siemens AG
- Thales Group
- Garmin Ltd.
- Cubic Corporation
- FLIR Systems
- Lanner Electronics
- DENSO Corporation
- International Business Machines (IBM) Corporation
- ADDCO Acquisition LLC
- TomTom N.V.
- Kapsch TrafficCom AG
- Iteris Inc.
- Q-Free ASA
- Efkon GmbH
- GeoToll Inc.
- ElectricFeel AG
- Doublemap LLC
- BestMile Sarl
- Aptiv PLC (nuTonomy)
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 142 |
Published | July 2023 |
Forecast Period | 2022 - 2028 |
Estimated Market Value ( USD | $ 40.6 Billion |
Forecasted Market Value ( USD | $ 69.7 Billion |
Compound Annual Growth Rate | 9.4% |
Regions Covered | Global |
No. of Companies Mentioned | 19 |