Market Size of Global Intelligent Transportation Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Intelligent Transportation Systems Market Analysis
The Intelligent Transportation Systems Market is expected to register a CAGR of over 5.5% during the forecast period.
The term, 'Intelligent Transportation Systems' was coined over two decades ago to designate applications of information and communication technologies to the operational management of transportation networks. The Intelligent Transportation Systems market growth is currently being hindered by the lack of inter-operability and standardization. The rapidly expanding telematics and vehicle infotainment industry, coupled with continued explosive growth of the commercial connected vehicle will see the emergence of new data streams, provided by the auto industry, and openly accessible to the developer community.
The open data streams will facilitate the development of additional applications and services and represents the industry’s first extensive, real-time and anonymized data set, which is sourced from the traditional passenger vehicles. The major objective of the intelligent transport system market is to reduce traffic congestion, pollution level, and to control the number of road accidents. The major reasons behind the increase in traffic congestion are the growth in the number of vehicles on the roads, increase in population, and migration of the rural areas to the metropolitan cities.
Intelligent Transportation Systems Industry Segmentation
The Intelligent Transportation Systems Market is segmented by Systems (Advanced Traffic Management System, Advanced Traveler Information System, Advanced Public Transportation System, and Commercial Vehicle Operation), by Components (Interface Boards, Sensors, Software, Surveillance Camera, Tele-Communication Networks, Monitoring & Detection Systems, and Others), by Application (Fleet Management & Asset Monitoring, Traffic Monitoring System, Traffic Signal Control Systems, Parking Convenience Systems, Traffic Enforcement Cameras, and Accident Avoidance Systems), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World)
| System | |
| Advanced Traffic Management System | |
| Advanced Traveler Information System | |
| Advanced Public Transportation System | |
| Commercial Vehicle Operation |
| Component | |
| Interface Boards | |
| Sensors | |
| Software | |
| Surveillance Camera | |
| Tele-Communication Networks | |
| Monitoring and Detection System | |
| Others |
| Application | |
| Fleet Management and Asset Monitoring | |
| Traffic Monitoring System | |
| Traffic Signal Control Systems | |
| Parking Convenience Systems | |
| Traffic Enforcement Cameras | |
| Accident Avoidance Systems |
| Geography | ||||||
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Global Intelligent Transportation Systems Market Size Summary
The Intelligent Transportation Systems (ITS) market is poised for significant growth, driven by advancements in information and communication technologies applied to transportation network management. Despite challenges such as lack of interoperability and standardization, the market is benefiting from the rapid expansion of telematics and vehicle infotainment industries. These developments are creating new data streams from connected vehicles, which are accessible to developers and facilitate the creation of innovative applications and services. The primary goals of ITS include reducing traffic congestion, lowering pollution levels, and minimizing road accidents, which are increasingly relevant due to rising vehicle numbers and urban migration. Technological advancements in microchips, RFID, and sensing technologies are enhancing the safety and efficiency of ITS, contributing to its growing adoption, particularly in emerging markets like India, Brazil, and South Africa.
The ITS market is expected to experience robust growth, especially in the Asia-Pacific region, where it helps consumers avoid congested routes, thereby saving travel time. The market's expansion is further supported by stringent regulations and consumer demand for integrated vehicle safety and driver assistance systems. Traditional automotive manufacturers are adapting by incorporating telematics and other intelligent systems into their vehicles. However, the high cost of ITS poses a challenge, as it pressures manufacturers to maintain low profit margins, which can hinder investment in research and development. Key players in the market include TransCore, Kapsch TrafficCom AG, Efkon AG, TomTom NV, DENSO Corporation, and Thales SA, all of which are actively working to overcome these challenges and capitalize on the growing demand for intelligent transportation solutions.
Global Intelligent Transportation Systems Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 System
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2.1.1 Advanced Traffic Management System
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2.1.2 Advanced Traveler Information System
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2.1.3 Advanced Public Transportation System
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2.1.4 Commercial Vehicle Operation
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2.2 Component
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2.2.1 Interface Boards
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2.2.2 Sensors
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2.2.3 Software
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2.2.4 Surveillance Camera
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2.2.5 Tele-Communication Networks
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2.2.6 Monitoring and Detection System
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2.2.7 Others
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2.3 Application
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2.3.1 Fleet Management and Asset Monitoring
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2.3.2 Traffic Monitoring System
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2.3.3 Traffic Signal Control Systems
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2.3.4 Parking Convenience Systems
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2.3.5 Traffic Enforcement Cameras
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2.3.6 Accident Avoidance Systems
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Rest of North America
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Rest of Asia-Pacific
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2.4.4 Rest of the World
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Other Countries
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Global Intelligent Transportation Systems Market Size FAQs
What is the current Global Intelligent Transportation Systems Market size?
The Global Intelligent Transportation Systems Market is projected to register a CAGR of greater than 5.5% during the forecast period (2024-2029)
Who are the key players in Global Intelligent Transportation Systems Market?
DENSO Corporation, TomTom NV, TransCore, Kapsch TrafficCom AG and Thales SA are the major companies operating in the Global Intelligent Transportation Systems Market.
