Market Size of Intelligent Transport Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.11 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Intelligent Transportation System Market Analysis
The intelligent transport systems market was valued at USD 22.88 billion in 2020, and is expected to reach a value of USD 30.65 billion by 2026, at a CAGR of 5.11% over the forecast period (2021 - 2026).
- Intelligent transport systems refer to the advanced technologies that are being applied to vehicles, infrastructure, and operating systems, which make the vehicles intelligent. As ITS technologies are being used in various industries beyond transportation and logistics, the demand for such systems is increasing rapidly.
- Government regulations and initiatives are the most important drivers for the growth and development of the intelligent transportation system market. With growing road safety concerns and increasing vehicle theft, governments across the world, especially in the United States, Europe, China, and Brazil among others are mandating the installation of factory-fitted telematics and safety devices in vehicles.
- Although such applications are increasing the demand for ITS across the world, the high cost of these systems is making it difficult for many manufacturers to keep the prices of the end-product low, leading to slow market penetration.
Intelligent Transportation System Industry Segmentation
Intelligent transportation system (ITS) is the application of sensing, analysis, control, and communications technologies in transportation in order to improve safety, mobility, and efficiency. They can be applied to different modes of transport like roadways, railways, airways.
| By Mode of Transport | |
| Roadways | |
| Railways | |
| Airways |
| By Type | |
| Advanced Traffic Management Systems (ATMS) | |
| Advanced Transportation Pricing System (ATPS) | |
| Advanced Traveler Information System (ATIS) | |
| Advanced Public Transportation System (APTS) | |
| Other Types |
| By Deployment Mode | |
| On-Premise | |
| Cloud |
| Geography | ||||||||
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Intelligent Transport Systems Market Size Summary
The intelligent transportation system (ITS) market is experiencing significant growth, driven by the integration of advanced technologies into vehicles, infrastructure, and operating systems. This sector is expanding rapidly as ITS technologies find applications beyond traditional transportation and logistics, spurred by government regulations and initiatives aimed at enhancing road safety and reducing vehicle theft. Countries such as the United States, Europe, China, and Brazil are leading the charge by mandating the installation of telematics and safety devices in vehicles. However, the high cost of these systems poses a challenge for manufacturers, hindering broader market penetration despite the increasing demand.
The roadways sector is the fastest-growing area within the ITS market, fueled by the rise in commercial fleets due to e-commerce and manufacturing activities. Companies like GE Capital and AT&T are leveraging telematics solutions for fleet monitoring and management, which enhances operational efficiency. North America stands out as the most advanced market, with substantial investments in ITS and stringent regulations promoting telematics installations. The region is also witnessing growth in commercial drone sales, creating demand for ITS in the airways sector. The market is highly competitive, with numerous players focusing on technological innovation and strategic collaborations to enhance their market presence. Key players include Siemens AG, Thales Group, IBM Corporation, and Cubic Corporation, among others.
Intelligent Transport Systems Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Introduction to Market Drivers and Restraints
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1.3 Market Drivers
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1.3.1 Increasing Demand for Efficient Traffic Management
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1.3.2 Growing Adoption of Smart Parking Management Systems
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1.4 Market Restraints
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1.4.1 Complexity Regarding Interoperability between User & Control Unit
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1.5 Value Chain Analysis
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1.6 Industry Attractiveness - Porter's Five Forces Analysis
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1.6.1 Threat of New Entrants
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1.6.2 Bargaining Power of Buyers/Consumers
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1.6.3 Bargaining Power of Suppliers
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1.6.4 Threat of Substitute Products
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1.6.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Mode of Transport
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2.1.1 Roadways
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2.1.2 Railways
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2.1.3 Airways
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2.2 By Type
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2.2.1 Advanced Traffic Management Systems (ATMS)
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2.2.2 Advanced Transportation Pricing System (ATPS)
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2.2.3 Advanced Traveler Information System (ATIS)
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2.2.4 Advanced Public Transportation System (APTS)
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2.2.5 Other Types
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2.3 By Deployment Mode
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2.3.1 On-Premise
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2.3.2 Cloud
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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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2.4.2 Europe
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2.4.2.1 United Kingdom
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2.4.2.2 Germany
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 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 South Korea
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2.4.3.4 India
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2.4.3.5 Australia
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Rest of the World
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2.4.4.1 Latin America
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2.4.4.2 Middle-East & Africa
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Intelligent Transport Systems Market Size FAQs
What is the current Intelligent Transport Systems Market size?
The Intelligent Transport Systems Market is projected to register a CAGR of 5.11% during the forecast period (2024-2029)
Who are the key players in Intelligent Transport Systems Market?
Siemens AG, Thales Group, IBM Corporation, Cubic Corporation and Denso Corporation are the major companies operating in the Intelligent Transport Systems Market.
