Intelligent Transport System (ITS) Global Market Report 2024

Description

“Intelligent Transport System Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on intelligent transport system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for intelligent transport system? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The intelligent transport system market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Component: Hardware; Software; Services
2) By System: Advanced Traffic Management Systems (ATMS); Advanced Traveler Information Systems (ATIS); Advanced Transportation Pricing Systems (ATPS); Advanced Public Transportation Systems (APTS); Emergency Medical Systems (EMS)
3) By Mode of Transport: Roadways; Railways; Airways
4) By Application: Intelligent Traffic Control; Collision Avoidance; Parking Management; Ticketing Management; Automotive Telematics; Fleet Management And Asset Monitoring; Other Applications
Companies Mentioned: Thales Group; Siemens AG; Garmin International Inc.; Kapsch TrafficCom AG; TomTom International BV
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

An Intelligent Transport System (ITS) is an integration of advanced technologies and communication systems aimed at enhancing the efficiency, safety, and sustainability of transportation systems. ITS endeavors to improve traffic efficiency and alleviate transportation challenges by providing users with access to historical traffic data, nearby amenities, real-time scheduling information, and seat availability.

The primary components of an intelligent transport system include hardware, software, and services. Hardware refers to the physical components of a computer or other electronic equipment. Various system types encompass Advanced Traffic Management Systems (ATMS), Advanced Traveler Information Systems (ATIS), Advanced Transportation Pricing Systems (ATPS), Advanced Public Transportation Systems (APTS), and Emergency Medical Systems (EMS) implemented in roadways, railways, and airways. Diverse applications of ITS include intelligent traffic control, collision avoidance, parking management, ticketing management, automotive telematics, fleet management and asset monitoring, among others.

The intelligent transport system market research report is one of a series of new reports from The Business Research Company that provides intelligent transport system market statistics, including intelligent transport system industry global market size, regional shares, competitors with a intelligent transport system market share, detailed intelligent transport system market segments, market trends and opportunities, and any further data you may need to thrive in the intelligent transport system industry. This intelligent transport system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The intelligent transport system market size has grown rapidly in recent years. It will grow from $33.18 billion in 2023 to $37.15 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The expansion observed in the historical period can be attributed to government initiatives, heightened safety concerns, environmental sustainability efforts, the increase in vehicle ownership, and prevailing urbanization trends.

The intelligent transport system market size is expected to see rapid growth in the next few years. It will grow to $55.64 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The anticipated growth in the forecast period can be attributed to the emergence of autonomous vehicles, integration of IoT, smart city initiatives, adherence to environmental regulations, and the fostering of public-private partnerships. Key trends expected in the forecast period encompass the integration of AI and machine learning, connected vehicle technologies, electrification, and the promotion of sustainable mobility, heightened focus on cybersecurity in transportation, and the utilization of data analytics for traffic optimization.

The anticipated rise in the number of road accidents is poised to drive the growth of the intelligent transport system market in the future. Road accidents, involving collisions on public roads resulting in injuries or fatalities, have prompted the adoption of Intelligent Transport System (ITS) applications. These applications, including traffic signal control systems, speed cameras, and road safety cameras, contribute to monitoring and enforcing traffic rules, ensuring adherence to road safety regulations. For instance, as of September 2022, the National Highway Traffic Safety Administration reported an estimated 20,175 fatalities in on-road car accidents during the first half of 2022 in the U.S., indicating a 0.5% increase from 2021. Therefore, the increasing incidence of road accidents is a driving force for the intelligent transport system market.

The growing volume of vehicles on the road is expected to further propel the growth of the intelligent transport systems market. Factors such as population growth, urbanization, economic development, and increased accessibility to personal transportation contribute to the rising numbers of vehicles on the road, leading to potential traffic issues. The application of intelligent transportation systems becomes crucial in enhancing traffic efficiency and mitigating congestion. For example, in March 2023, Hedges & Company, an automotive digital marketing company based in the U.S., reported a 0.9% increase in registered cars in the U.S., rising from 286.9 million cars in 2020 to 289.5 million cars in 2021. Hence, the growing number of vehicles on the road fuels the demand for the intelligent transport systems market.

Major companies in the intelligent transport systems sector are innovating by developing products such as the Onboard Driver Assistance and Warning System (ODAWS) to enhance highway infrastructure and road safety. ODAWS, part of the Intelligent Transportation System (ITS) developed under the InTranSE-II program by the Ministry of Electronics and Information Technology (MeitY) in India, provides real-time notifications to drivers. For instance, in April 2022, MeitY launched ITS solutions, including ODAWS, Bus Signal Priority System, and Common SMart IoT Connectivity (CoSMiC) software, aiming to boost road safety and improve public transport efficiency.

Technological advancements emerge as a significant trend in the intelligent transport systems market, with companies adopting new technologies to maintain their market positions. For example, in November 2021, the City of Vienna government and Kapsch TrafficCom, an Austria-based provider of transportation solutions, introduced Traffic Management 2.0 for smart transportation and traffic management. This solution enhances traffic conditions and reduces CO2 emissions by up to 15%, contributing to improved air quality.

In June 2021, Verra Mobility, a U.S.-based smart mobility technology company, acquired Redflex Holdings Limited for an undisclosed amount. This strategic acquisition is expected to enhance Verra Mobility's portfolio of smart transportation solutions, providing opportunities to enhance mobility safety. Redflex Holdings Limited is an Australia-based company specializing in intelligent transport solutions.

Major companies operating in the intelligent transport system market report are Thales Group, Siemens AG, Garmin International Inc., Kapsch TrafficCom AG, TomTom International BV, Denso Corporation, Efkon GmbH, Ricardo plc, Lanner Inc., Q-Free ASA, TransCore, Atkins Group, Iteris Inc., Savari Inc., Teledyne FLIR LLC, IBM Corporation, Addco LLC, Cubic Corporation, Alstom SA, Hitachi Ltd., Indra Sistemas S.A., Advantech Co. Ltd., Nuance Communications Inc., Conduent Incorporate, Cohda Wireless, Sensys Networks Inc., Rapid Flow Technologies Inc., Verra Mobility, Xerox Corporation, Traffex Technologies Inc.

North America was the largest region in the intelligent transport system market in 2023. The regions covered in the intelligent transport system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the intelligent transport system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The intelligent transport system market consists of revenues earned by entities by providing fleet management, public transport management, emergency management and intelligent traffic management. The market value includes the value of related goods sold by the service provider or included within the service offering. The intelligent transport system market also includes sales of automatic vehicle identifiers, GPS based automatic vehicle locators, sensors, and cameras which are used in providing intelligent transport system services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11835

1. Executive Summary

2. Intelligent Transport System Market Characteristics

3. Intelligent Transport System Market Trends And Strategies

4. Intelligent Transport System Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Intelligent Transport System Market Size and Growth

5.1. Global Intelligent Transport System Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Intelligent Transport System Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Intelligent Transport System Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Intelligent Transport System Market Segmentation

6.1. Global Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hardware
Software
Services
6.2. Global Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Advanced Traffic Management Systems (ATMS)
Advanced Traveler Information Systems (ATIS)
Advanced Transportation Pricing Systems (ATPS)
Advanced Public Transportation Systems (APTS)
Emergency Medical Systems (EMS)
6.3. Global Intelligent Transport System Market, Segmentation By Mode of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Roadways
Railways
Airways
6.4. Global Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Intelligent Traffic Control
Collision Avoidance
Parking Management
Ticketing Management
Automotive Telematics
Fleet Management And Asset Monitoring
Other Applications

7. Intelligent Transport System Market Regional And Country Analysis

7.1. Global Intelligent Transport System Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Intelligent Transport System Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Intelligent Transport System Market

8.1. Asia-Pacific Intelligent Transport System Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Intelligent Transport System Market

9.1. China Intelligent Transport System Market Overview
9.2. China Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Intelligent Transport System Market

10.1. India Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Intelligent Transport System Market

11.1. Japan Intelligent Transport System Market Overview
11.2. Japan Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Intelligent Transport System Market

12.1. Australia Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Intelligent Transport System Market

13.1. Indonesia Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Intelligent Transport System Market

14.1. South Korea Intelligent Transport System Market Overview
14.2. South Korea Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Intelligent Transport System Market

15.1. Western Europe Intelligent Transport System Market Overview
15.2. Western Europe Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Intelligent Transport System Market

16.1. UK Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Intelligent Transport System Market

17.1. Germany Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Intelligent Transport System Market

18.1. France Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Intelligent Transport System Market

19.1. Italy Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Intelligent Transport System Market

20.1. Spain Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Intelligent Transport System Market

21.1. Eastern Europe Intelligent Transport System Market Overview
21.2. Eastern Europe Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Intelligent Transport System Market

22.1. Russia Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Intelligent Transport System Market

23.1. North America Intelligent Transport System Market Overview
23.2. North America Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Intelligent Transport System Market

24.1. USA Intelligent Transport System Market Overview
24.2. USA Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Intelligent Transport System Market

25.1. Canada Intelligent Transport System Market Overview
25.2. Canada Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Intelligent Transport System Market

26.1. South America Intelligent Transport System Market Overview
26.2. South America Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Intelligent Transport System Market

27.1. Brazil Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Intelligent Transport System Market

28.1. Middle East Intelligent Transport System Market Overview
28.2. Middle East Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Intelligent Transport System Market

29.1. Africa Intelligent Transport System Market Overview
29.2. Africa Intelligent Transport System Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Intelligent Transport System Market, Segmentation By System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Intelligent Transport System Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Intelligent Transport System Market Competitive Landscape And Company Profiles

30.1. Intelligent Transport System Market Competitive Landscape
30.2. Intelligent Transport System Market Company Profiles
- 30.2.1. Thales Group
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Siemens AG
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Garmin International Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Kapsch TrafficCom AG
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. TomTom International BV
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Intelligent Transport System Market Competitive Benchmarking

32. Global Intelligent Transport System Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Intelligent Transport System Market

34. Intelligent Transport System Market Future Outlook and Potential Analysis

34.1 Intelligent Transport System Market In 2028 - Countries Offering Most New Opportunities
34.2 Intelligent Transport System Market In 2028 - Segments Offering Most New Opportunities
34.3 Intelligent Transport System Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer