PUBLISHER: TechSci Research | PRODUCT CODE: 1355098
PUBLISHER: TechSci Research | PRODUCT CODE: 1355098
India Intelligent Transportation System Market By Type, By Applications, By Deployment, By Region, Competition Forecast & Opportunities, 2028
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India Intelligent Transportation System Market is anticipated to grow at a high CAGR in the forecast period of 2024-2028. An Intelligent Transportation System (ITS) is a technical application that strives to deliver novel services related to various forms of transportation and traffic management. These technologies let users to obtain information ahead of time and make safer, more coordinated, and 'smarter' use of transportation networks. ITS implementation for cities, in essence, provides a highly competent and automated transit management platform that might open the way for such technologies to be used to improve service delivery standards and operational efficiency.
The term "ITS" refers to a broad variety of wireless and traditional communications-based information and electronic technologies that include fundamental components such as sensors, a processing unit, GPS notification, a communication channel, and traffic priority signals. The need for transportation systems is increasing as the country's transportation system expands.
The market is being propelled by the rapid improvement in people's economic situations and their preference for private car ownership, which is becoming a major factor in the growing number of road accidents. As a result, the need for Intelligent Transportation Systems (ITS) to mitigate such risks is increasing.
| Market Overview | |
|---|---|
| Forecast Period | 2024-2028 |
| Market Size 2022 | USD 2.1 Billion |
| Market Size 2028 | USD 7.1 Billion |
| CAGR 2023-2028 | 22.34% |
| Fastest Growing Segment | Cloud |
| Largest Market | South India |
Rising Government Investment in Intelligent Transportation Systems Will Drive Market
The government's support and financing for intelligent transportation system planning, design, and implementation are expected to boost the market for intelligent transportation systems (ITS). Many state governments are collaborating with commercial partners and investing in ITS infrastructure to relieve traffic congestion. Intelligent transportation service companies also help the government by providing guidance on how to integrate ITS into the transportation system.
The government is also providing significant financing for ITS initiatives, identifying it as an important area for R&D investment. Furthermore, with the rapid expansion of the tourist industry, the need for ITS to demonstrate the potential of IoT would contribute to the growth of the India Intelligent Transportation System System Market in the future.
Rising traffic congestion would propel market growth.
In India, road traffic congestion is a significant problem that results in considerable economic losses. The country has witnessed a rapid increase in the number of vehicles on the road, while infrastructure expansion has not kept pace. This has resulted in severe traffic congestion, particularly in urban areas, leading to delays and decreased productivity. To address this issue, India has implemented several intelligent transportation systems, such as electronic toll collection, traffic management systems, and intelligent traffic signals. These systems aim to improve traffic flow and minimize congestion by using advanced technologies like wireless communication, real-time traffic monitoring, and predictive analytics.
The Indian government has also launched several initiatives to encourage the adoption of electric vehicles and public transportation systems, such as metro rail and bus rapid transit systems, to reduce the number of vehicles on the road.
Despite these efforts, traffic congestion remains a significant challenge in India. The country needs to continue investing in its transportation infrastructure and adopt innovative technologies to reduce traffic congestion and improve road safety.
The first hurdle is the developing digital and data culture in the sector. Regardless of the dangers, organizations that do not innovate will fail. This will impede Indian Intelligent Transportation System firms from growing and succeeding. As a result, growth and productivity in the industry will continue to suffer. Because of the increased entry of venture capital and entrepreneurs into this industry, innovators and entrepreneurs will shift to other industries, restricting the growth of the Intelligent Transportation System market.
Market Segments
India Intelligent Transportation System Market is divided into Type, Applications, Deployment, Region and Competitive Landscape. Based on Type, the market is divided into Advanced Traffic Management System (ATMS), Advanced Traveler Information System (ATIS), Advanced Public Transportation System (APTS), Advanced Transportation Pricing System (ATPS), Others. Based on Applications, the market is divided into Traffic Monitoring & Management, Freight Management, Public Transport Management, Road Tolling System, Parking Management, Others Based on Deployment, the market is divided into On-Premises and Cloud.
Market Players
Major market players in the India Intelligent Transportation System Market are: Tata Group, Schneider Electric India Pvt. Ltd, Mobisoft Infotech LLC, AUM Infotech Pvt Ltd, Urban Mass Transit Company Limited, Siemens India, Kent Intelligent Transportation Systems India Pvt Ltd, Urban Mass Transit Company Limited, Proptiger.com and Infra.Market.
Report Scope
In this report, India Intelligent Transportation System Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
India Intelligent Transportation System Market, By Type:
- Advanced Traffic Management System (ATMS)
- Advanced Traveler Information System (ATIS)
- Advanced Public Transportation System (APTS)
- Advanced Transportation Pricing System (ATPS)
- Others
India Intelligent Transportation System Market, By Applications:
- Traffic Monitoring & Management
- Freight Management
- Public Transport Management
- Road Tolling System
- Parking Management
- Others
India Intelligent Transportation System Market, By Deployment:
- On-Premises
- Cloud
India Intelligent Transportation System Market, By Region:
- North India
- South India
- West India
- East India
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in India Intelligent Transportation System Market
Available Customizations
India Intelligent Transportation System TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Service Overview
- 1.1. Market Definition
- 1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations
2. Research Methodology
- 2.1. Objective of the Study
- 2.2. Baseline Methodology
- 2.3. Key Industry Partners
- 2.4. Major Association and Secondary Sources
- 2.5. Forecasting Methodology
- 2.6. Data Triangulation & Validation
- 2.7. Assumptions and Limitations
3. Impact of COVID-19 on India Intelligent Transportation System Market
4. Executive Summary
5. Voice of Customers
6. India Intelligent Transportation System Market Outlook
- 6.1. Market Size & Forecast
- 6.1.1. By Value
- 6.2. Market Share & Forecast
- 6.2.1. By Type (Advanced Traffic Management System (ATMS), Advanced Traveler Information System (ATIS), Advanced Public Transportation System (APTS), Advanced Transportation Pricing System (ATPS), Others)
- 6.2.2. By Applications (Traffic Monitoring & Management, Freight Management, Public Transport Management, Road Tolling System, Parking Management, Others)
- 6.2.3. By Deployment (On-Premises, Cloud)
- 6.2.4. By Region (North India, South India, West India, East India)
- 6.3. By Company (2022)
- 6.4. Market Map
7. North India Intelligent Transportation System Market Outlook
- 7.1. Market Size & Forecast
- 7.1.1. By Value
- 7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Applications
- 7.2.3. By Deployment
8. South India Intelligent Transportation System Market Outlook
- 8.1. Market Size & Forecast
- 8.1.1. By Value
- 8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Applications
- 8.2.3. By Deployment
9. West India Intelligent Transportation System Market Outlook
- 9.1. Market Size & Forecast
- 9.1.1. By Value
- 9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Applications
- 9.2.3. By Deployment
10. East India Intelligent Transportation System Market Outlook
- 10.1. Market Size & Forecast
- 10.1.1. By Value
- 10.2. Market Share & Forecast
- 10.2.1. By Type
- 10.2.2. By Applications
- 10.2.3. By Deployment
11. Market Dynamics
- 11.1. Drivers
- 11.1.1. Opportunities for Government Investment Providing Increased Mobility.
- 11.1.2. AI and VR advancements will usher in revolutionary changes in ITS technologies.
- 11.1.3. The increased value of long-term assets Intelligent Transportation System is a solution Rising traffic congestion would propel market growth.
- 11.2. Challenges
- 11.2.1. Some emerging economies' financial crises would limit technology adoption.
- 11.2.2. Numerous initiatives related to smart cities, transportation, and logistics are included.
12. Market Trends & Developments
- 12.1. Construction of Expressways and Smart highways in the state.
- 12.2. Due to opportunities, significant internet penetration, and a surge in middle- and upper-income families.
- 12.3. Due to favorable government laws, promoting ITS will provide safe and secure roads in the region.
- 12.4. Enhancing driver assistance and warning system.
- 12.5. Utilization of technology by private firm.
13. Policy & Regulatory Landscape
14. India Economic Profile
15. Company Profiles
- 15.1. Tata Group
- 15.1.1. Business Overview
- 15.1.2. Key Revenue and Financials (If available)
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. Key Product/Services
- 15.2. Schneider Electric India Pvt. Ltd
- 15.2.1. Business Overview
- 15.2.2. Key Revenue and Financials (If available)
- 15.2.3. Recent Developments
- 15.2.4. Key Personnel
- 15.2.5. Key Product/Services
- 15.3. Mobisoft Infotech LLC
- 15.3.1. Business Overview
- 15.3.2. Key Revenue and Financials (If available)
- 15.3.3. Recent Developments
- 15.3.4. Key Personnel
- 15.3.5. Key Product/Services
- 15.4. Kent Intelligent Transportation Systems India Pvt Ltd
- 15.4.1. Business Overview
- 15.4.2. Key Revenue and Financials (If available)
- 15.4.3. Recent Developments
- 15.4.4. Key Personnel
- 15.4.5. Key Product/Services
- 15.5. NEC Corporation India Pvt. Ltd
- 15.5.1. Business Overview
- 15.5.2. Key Revenue and Financials (If available)
- 15.5.3. Recent Developments
- 15.5.4. Key Personnel
- 15.5.5. Key Product/Services
- 15.6. Proptiger.com
- 15.6.1. Business Overview
- 15.6.2. Key Revenue and Financials (If available)
- 15.6.3. Recent Developments
- 15.6.4. Key Personnel
- 15.6.5. Key Product/Services
- 15.7. Siemens India
- 15.7.1. Business Overview
- 15.7.2. Key Revenue and Financials (If available)
- 15.7.3. Recent Developments
- 15.7.4. Key Personnel
- 15.7.5. Key Product/Services
- 15.8. Urban Mass Transit Company Limited
- 15.8.1. Business Overview
- 15.8.2. Key Revenue and Financials (If available)
- 15.8.3. Recent Developments
- 15.8.4. Key Personnel
- 15.8.5. Key Product/Services
- 15.9. AUM Infotech Pvt Ltd
- 15.9.1. Business Overview
- 15.9.2. Key Revenue and Financials (If available)
- 15.9.3. Recent Developments
- 15.9.4. Key Personnel
- 15.9.5. Key Product/Services
- 15.10. Urban Mass Transit Company Limited
- 15.10.1. Business Overview
- 15.10.2. Key Revenue and Financials (If available)
- 15.10.3. Recent Developments
- 15.10.4. Key Personnel
- 15.10.5. Key Product/Service
16. Strategic Recommendations
17. About Us & Disclaimer
Note: India Intelligent Transportation System Market for any year represents the market during the period i.e., 1st April of the previous year to 31st March of that year. eg: For 2023E, the data represents the period, 1st April 2022 to 31st March 2023.
