| Status : Published | Published On : Mar, 2024 | Report Code : VRSME9102 | Industry : Semiconductor & Electronics | Available Format :
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Page : 350 |
Global Intelligent Transportation System Market – Analysis and Forecast (2025-2030)
Industry Insight by Offerings (Hardware, Software, and Services), by System (Advanced Traveler Information System (ATIS), Advanced Public Transportation System (APTS), Advanced Traffic Management System (ATMS), Advanced Transportation Pricing System (ATPS), Commercial Vehicle Operation System (CVO), and ITS-Enabled Transportation Pricing System), by, Application - Roadways (Intelligent Traffic Control, Collision Avoidance, Parking Management, Passenger Information Management, Ticketing Management, Emergency Vehicle Notification, Automotive Telematics, and Fleet Management and Asset Monitoring), by Application – Railways (Rail-Running Operation and Collision Avoidance, Smart Ticketing, Security and Surveillance, Passenger Information Management, Emergency Notification, and Others), by Application- Aviation (Security & Surveillance, Shuttle Bus Tracking, Traveler Information Management, Smart Ticketing, Aircraft Management, Emergency Notification, and Others), by Application - Maritime (Freight Arrival & Transit, Real-time Weather Information Tracking, Container Movement Scheduling, Emergency Notification, and Others), and Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)
Industry Overview
The Global Intelligent Transportation Systems (ITS) Market is poised to reach USD 70.2 billion by 2030, experiencing a robust CAGR of 10.3% from 2025 to 2030. ITS refers to the application of advanced sensing, analysis, control, and communications technology in the field of transportation, aiming to enhance safety, mobility, and efficiency. This technology finds applicability across various transportation modes such as roads, trains, and airplanes. The anticipated growth of the global ITS market is heavily influenced by technological advancements expected during the forecast period. As new innovations continue to optimize and automate connected car infrastructure, pedestrian environments, and other aspects, intelligent transportation systems are anticipated to witness widespread acceptance in the coming years.
Furthermore, Big Data's advancements have enabled cost-effective and efficient data analysis, storage, and usage, resulting in the entry of flexible and innovative intelligent transportation systems into the worldwide intelligent transportation systems market in the forecasted years. In the future years, the intelligent transportation system market is expected to be driven by the introduction of 4G and 5G connectivity, falling prices of smart devices, and consistent developments in information and communication technology.
The COVID-19 outbreak has put several restrictions on the industry players functioning in the intelligent transportation system (ITS) market. Owing to strict lockdowns, increased emphasis to prevent the transmission of a novel coronavirus, and restrictions on cross-border trade are anticipated to interrupt the supply chain of raw materials and various other components that are required to develop ITS. However, local governments in various regions are taking this as an opportunity to test and install different intelligent transportation systems.
Market Segmentation
Insight by Offerings
According to the offering, the global intelligent transportation system (ITS) market is divided into hardware, software, and services segments. Out of these segments, the hardware segment will dominate the market during the forecast period due to the growing adoption of various heterogeneous devices such as sensors, cameras, intelligent traffic management systems, and sophisticated traffic information systems.
Insight by System
The global intelligent transportation system (ITS) market is also divided by systems into advanced traveler information systems, advanced public transportation systems, advanced traffic management systems, advanced transportation pricing systems, commercial vehicle operation Systems, and ITS-enabled transportation pricing system segments. Out of these segments, the advanced traffic management system will contribute a larger share due to growing traffic congestion. On the other hand, the commercial vehicle operation system segment will also grow during the forecast period due to higher acceptance of connected vehicles and digital technologies.
Insight by Application - Roadways
The global intelligent transportation system (ITS) market is divided by application in roadways into collision avoidance, intelligent traffic control, parking management, ticketing management, passenger information management, emergency vehicle notification, automotive telematics, fleet management, and asset monitoring. Out of these segments, the parking management section is expected to grow more due to growing vehicle ownership and scarcity of parking spaces.
Insight by Application - Railways
Based on the applications in railways, the global intelligent transportation system (ITS) market is divided into rail-running operation and collision avoidance, smart ticketing, security and surveillance, passenger information management, emergency notification, and other segments. Out of these segments, the passenger information management segment is expected to grow more due to a higher need for real-time information on passengers, locations, baggage, nature of the journey, distance traveled, upcoming stations, delay time, and more.
Insight by Application - Aviation
According to aviation application, the global intelligent transportation systems market is divided into security & surveillance, smart ticketing, shuttle bus tracking, aircraft management, traveler information management, emergency notification, and other segments. Out of these segmentations, the aircraft management segment will contribute higher revenue to the market during the forecast period due to more effective traffic handling due to integrated gate-to-gate solutions.
Insight by Application - Maritime
The global intelligent transportation system (ITS) market is also divided by maritime applications into freight arrival & transit, real-time weather information tracking, container movement scheduling, emergency notification, and other segments. Among them, the real-time weather information tracking segment will grow at a higher rate during the forecast period due to greater efficiency in monitoring weather conditions by using water level sensors, satellites, and environmental sensor stations.
Global Intelligent Transportation System Market Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018 - 2023 |
|
Base Year Considered |
2024 |
|
Forecast Period |
2025 - 2030 |
|
Market Size in 2023 |
U.S.D. 42.5 Billion |
|
Revenue Forecast in 2030 |
U.S.D. 70.2 Billion |
|
Growth Rate |
10.3% |
|
Segments Covered in the Report |
By Offerings, By System, and By Application (Railways, Aviation, and Maritime) |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Industry Trends
There is an increased awareness of the importance of ITS due to the growing events by the major industry players. Also, the growing focus on quality of transportation propels the demand for and the market growth of ITS. The favorable government initiatives to develop transportation infrastructure have resulted in significant economic development.
Growth Drivers
The growing initiatives of the government to improve road and public safety, traffic and parking management, and freight management are boosting the growth of the global intelligent transportation system (ITS) market. It is also attributed to the higher need to decrease traffic bottleneck, extensive adoption of eco-friendly automotive technologies, rapid development of smart cities, developments in big data analytics and technologies such as AI and machine learning, the increase in demand for smart vehicles with latest telecommunications technologies, improved surveillance due to modern advanced cameras and License Plate Recognition, growing number of on-road vehicles, lack of effective solutions for traffic data management, old infrastructure, growing concern and need to protect the environment, minimize carbon footprint, compliance with regulatory norms, usage of 4G and 5G connectivity, reducing prices of smart devices, and ongoing progress in information and communication technology, and improvement in big data analytics that offer effective and cost-efficient analysis, storage, and usage of data.
Challenges
The growth of the global intelligent transportation system (ITS) market is hindered by the growing need for standardization and interoperability. Lack of proper infrastructure is also a significant setback, especially in emerging economies, along with the high cost of implementation.
Opportunities
The growing public-private partnerships and higher prospects in emerging economies offer the growth opportunities of the market. Also, advancements in driverless vehicles and the growing demand for wireless applications and Vehicle-to-vehicle (V2V) and Vehicle-to-infrastructure (V2I) communication to ensure higher safety are creating significant growth opportunities in the global intelligent transportation system (ITS) market.
Geographic Overview
North America leads the global intelligent transportation system (ITS) market due to higher investments in these solutions by both the public and private sectors. Moreover, the presence of major players offering ITS solutions, higher research and development activities, and progress in technologies like ML, big data, cloud computing, and IoT propels the growth of the market in this region.
On the other hand, the Asia-Pacific market is also expected to grow at a higher CAGR during the forecast period due to higher investments to improve infrastructure facilities, growing concern over traffic congestion, increase in the number of megacities, and continual extension of transportation networks.
Competitive Insight
The industry players in the intelligent transportation system market are emphasizing the quality of transport services and providing clean, smart safe, sustainable, and intelligent transportation systems. The market players are launching differentiated solutions and concentrating on the advent of 5G to provide solutions that provide real-time information instantaneously with zero delays, thus aiming to strengthen their position in the ITS market. Agreements, collaborations, partnerships, and other techniques are being used by industry players to get a competitive advantage in the market.
Siemens has the skills and experience to provide entire end-to-end intelligent transportation solutions to the providers. Siemens has created a variety of communication solutions and technologies that are specifically designed to support ITS applications and provide operators with the tools they need to keep their systems operating.
Cubic Transportation Systems has attempted to reinvent and modernize the transportation business. In the transportation market, they are one of the major integrators of payment and information solutions, as well as related services for intelligent travel applications. Cubic provides integrated transportation and traffic management systems that allow transportation authorities and agencies to manage demand across the entire transportation network in real time while still allowing travelers to choose the most efficient and convenient mode of transportation and payment.
Some of the key players in the intelligent transportation system market include Thales Group, Siemens, IBM Corporation, Cubic Corporation, DENSO CORPORATION, Kapsch TrafficCom AG, Conduent Business Services, LLC., Xerox Corporation, TomTom International BV., and Sensys Networks, Inc.
Recent Developments by Key Players
Thales Belgium (the European leader in 70-mm rocket systems) has inaugurated a new production line at its Herstal site. The higher production rates will make it possible to respond faster to the ammunition requirements of the armed forces. The rocket is the NATO-standard 70-mm (2.75 inch) calibre currently being used in Ukraine.
Thales Group (France) has collaborated with Adani Defence and Aerospace to manufacture 70 mm rockets in India. This strategic collaboration aims to bolster India’s defence capabilities by producing locally manufactured rockets for the Advanced Light Helicopter (ALH) - Rudra and the Light Combat Helicopter (LCH) - Prachand. The initiative aligns with India’s broader goal of enhancing its defence manufacturing sector and creating employment opportunities.
The Intelligent Transportation System Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Offerings
- Hardware
- Software
- Services
- By System
- Advanced Traveler Information System (ATIS)
- Advanced Public Transportation System (APTS)
- Advanced Traffic Management System (ATMS)
- Advanced Transportation Pricing System (ATPS
- Commercial Vehicle Operation System (CVO)
- ITS-Enabled Transportation Pricing System
- By Application - Roadways
- Intelligent Traffic Control
- Collision Avoidance
- Parking Management
- Passenger Information Management
- Ticketing Management
- Emergency Vehicle Notification
- Automotive Telematics
- Fleet Management and Asset Monitoring
- By Application - Railways
- Rail-Running Operation and Collision Avoidance
- Smart Ticketing
- Security and Surveillance
- Passenger Information Management
- Emergency Notification
- Others
- By Application- Aviation
- Security & Surveillance
- Shuttle Bus Tracking
- Traveler Information Management
- Smart Ticketing
- Aircraft Management
- Emergency Notification
- Others
- By Application - Maritime
- Freight Arrival & Transit
- Real-time Weather Information Tracking
- Container Movement Scheduling
- Emergency Notification
- Others
Region Covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Intelligent Transportation System Market