Global Market for Intelligent Transportation System is Anticipated to grow at a Significant Pace i.e., USD 28.55 Billion during the Forecast Period 2021-2027

Published Date: Mar, 2022

Intelligent transportation systems have gained prominence and are anticipated to grow at a 10.3% CAGR during 2021-2027. The considerable development in information technology increased the adoption of cost-effective smart devices, and increase gain by sensing technologies. Also, the rising population especially in urban cities has driven governments, local governments, and urban planners to innovate and implement new intelligent transportation systems. Moreover, the rising demand for efficient parking management, traffic management, freight management, automotive telematics, efforts to enhance the quality of mobility, and efficacy in public transport along with investments by the government to build smart cities will project to spearhead the growth in the future. Furthermore, technological development and adoption of state-of-art technologies such as Artificial Intelligence, Machine Learning, and Big Data, mounting stringent emission norms, increased awareness among consumers, will proliferate the growth of the global ITS market. Nevertheless, stakeholders in the information technology (IT) and electronics domains are increasingly engaging with government agencies and other participants in the intelligent transportation system market environment to look for opportunities.

With an expenditure of USD 87.5 billion by 2030, the Russian government wants to modernize the country's railroads, motorways, airports, ports, and other transportation infrastructure. A total of USD 66.6 billion has been set aside by the government for the construction of a safe and high-quality highway. The project would strengthen city connectivity and construct strategic road routes in Russia.

In January 2021, Cubic Corporation announced that Omaha Metro Transit has granted its Cubic Transportation Systems (CTS) business division a multi-year contract to supply its Umo Pass system. Umo Pass will allow riders of Omaha Metro Transit to plan and pay for their trips using a single ticket payment system.

The COVID-19 pandemic has impacted the business of the intelligent transportation system market. Various Tier I and Tier II suppliers like Thales Group, Siemens, Kapsch TrafficCom, Conduent, Inc. Cubic Corporation, etc. which have their manufacturing facilities globally were having an impact on their businesses during a pandemic. Travel limitations have caused delays in the development of new transportation infrastructure projects. The industry will see strong growth post-COVID-19 pandemic. In the aftermath of the epidemic, intelligent transportation technology such as contactless access control and smart ticketing systems will become more widely used across public transit hubs.

Browse 82 market data Tables and 50 Figures spread through 350 Pages and in-depth TOC on " Intelligent Transportation System (ITS) Market 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 Region - Global Forecast to 2027"

By system, ATMS segment to have a largest share during the forecast period.

The advanced traffic management system dominates the market. The industry players are integrating data processing with sensing and telecommunications technologies to enable real-time transportation network management and communicate the information gathered and processed with drivers and travelers. The growing number of vehicles on the road, and the frequently occurring traffic jams, necessitate the implementation of advanced traffic management technologies. These solutions have the ability to shorten travel times while also assuring improved traffic management. Authorities and public safety agencies can also use advanced traffic management systems to respond quickly and effectively to accidents and emergencies.

Global Intelligent Transportation System (ITS) Market Segmentation Analysis

Segment

Categorization

Leading Category

Offerings

Hardware, Software, and Services

Hardware (Largest)

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

Advanced Traffic Management System (ATMS) (Largest)

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

Parking Management (Fastest)

Application – Railways

Rail-Running Operation and Collision Avoidance, Smart Ticketing, Security and Surveillance, Passenger Information Management, Emergency Notification, and Others

Passenger Information Management (Fastest)

 

Application- Aviation

Security & Surveillance, Shuttle Bus Tracking, Traveler Information Management, Smart Ticketing, Aircraft Management, Emergency Notification, and Others

Aircraft Management (Largest)

Application - Maritime

Freight Arrival & Transit, Real-time Weather Information Tracking, Container Movement Scheduling, Emergency Notification, and Others

Real-time Weather Information (Fastest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

Asia-Pacific (Fastest)

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“Asia-Pacific is anticipated to have significant growth in the Intelligent Transportation System (ITS) market during 2021-2027.”

APAC is anticipated to have significant growth during the projected period owing to the rising number of smart cities, growing population has led to the deployment of ITS in several countries like China, Australia, Japan, and others. These countries see ITS as a great way to address challenges including traffic congestion, air pollution, and greenhouse gas emissions. Due to strong economic growth, population increase, and increasing urbanisation, the area is predicted to have a significant growth potential for the ITS market throughout the forecast period.

Some of the major players in the global Intelligent Transportation System (ITS) 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.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Offerings, System, Application – Roadways, Application- Railways, Application – Aviation, Application - Maritime, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

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.

Global Intelligent Transportation System (ITS) Market Coverage

Offerings Insight and Forecast 2015-2027

  • Hardware
  • Software
  • Services

System Insight and Forecast 2015-2027

  • 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

Application - Roadways Insight and Forecast 2015-2027

  • Intelligent Traffic Control
  • Collision Avoidance
  • Parking Management
  • Passenger Information Management
  • Ticketing Management
  • Emergency Vehicle Notification
  • Automotive Telematics
  • Fleet Management and Asset Monitoring

Application - Railways Insight and Forecast 2015-2027

  • Rail-Running Operation and Collision Avoidance
  • Smart Ticketing
  • Security and Surveillance
  • Passenger Information Management
  • Emergency Notification
  • Others

Application- Aviation Insight and Forecast 2015-2027

  • Security & Surveillance
  • Shuttle Bus Tracking
  • Traveler Information Management
  • Smart Ticketing
  • Aircraft Management
  • Emergency Notification
  • Others

Application - Maritime Insight and Forecast 2015-2027

  • Freight Arrival & Transit
  • Real-time Weather Information Tracking
  • Container Movement Scheduling
  • Emergency Notification
  • Others

Geographical Segmentation

Intelligent Transportation System (ITS) Market by Region

North America

  • By Offerings
  • By System
  • By Application - Roadways
  • By Application - Railways
  • By Application – Aviation
  • By Application – Maritime
  • By Country – U.S., Canada, and Mexico

Europe

  • By Offerings
  • By System
  • By Application - Roadways
  • By Application - Railways
  • By Application – Aviation
  • By Application – Maritime
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Offerings
  • By System
  • By Application - Roadways
  • By Application - Railways
  • By Application – Aviation
  • By Application – Maritime
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Offerings
  • By System
  • By Application - Roadways
  • By Application - Railways
  • By Application – Aviation
  • By Application – Maritime
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries