Intelligent Transportation Systems Market, By Type, By Application, and by Region - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Intelligent transportation system (ITS) is the application of sensing, control, analysis, communication and advanced technologies in order to improve safety, efficiency and mobility. These system can be used in different modes of transport such as roadways, railways, airways. ITS involves a wide range of applications including traffic management, ease congestion, minimizes environmental impact, and also increase the benefits of transportation to commercial users. Moreover, the growing adoption of data analytics techniques such as artificial intelligence and machine learning in order to improve efficiency in the organization is expected to drive market growth during the forecast period.

Market Dynamics

Growing traffic congestion is expected to drive market growth during forecast period. The deployment of intelligent transportation system (ITS) helps in providing real time traffic statistics and also helps in controlling growing traffic congestion concern. These intelligent signals gather information from sensor that quantify vehicle speed, traffic signal and traffic related information. Data received from sensor run through algorithm and send information back to the controller. The intelligent transportation system (ITS) is used to collect real-time traffic information helps in controlling traffic signals. The increase in the use of real time data helps in resolving traffic congestion issue and reduces chances of accidents. Moreover, increase in the adoption of IoT solutions for smart cities and transportation systems offer real time visibility and accurate data helps organizations to improve efficiency in developing smart cities.

Enhancement in existing performance of transportation networks is expected to drive growth of the global intelligent transportation systems (ITS) market during the forecast period. Transport plays a major role in a country's economic and social development. Inadequate working of traffic signals and traffic incidents are major causes of all traffic jams and increased carbon emissions in urban and interurban networks. According to various, ITS associations such as ITS Canada, ITS Turkey, etc. advanced traffic management systems (ATMS) reduce the waiting time at a signal by 20% to 30% and the travel time by 25%, which in turn helps in saving a huge chunk of notified congestion. These systems also reduce greenhouse gas emissions such as carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O) etc. For every hour of delay time reduced in traffic, one lightweight vehicle can save 0.7 gallons of fuel and a truck can save 1.93 gallons. Therefore, these factors are expected to drive growth of the global intelligent transportation systems (ITS) market during the forecast period.

Market Taxonomy

This report segments the global intelligent transportation systems (ITS) market on the basis of type, application and region. On the basis of type, the global Intelligent Transportation Systems (ITS) market is segmented o Advanced Traveler Information System (ATIS), Advanced Traffic Management System (ATMS), Advanced Transportation Pricing Systems (ATPS), Advanced Public Transport System (APTS), and Co-operative Vehicle Systems (CVS). on the basis of application, the market is segmented into, traffic management, road safety and surveillance, freight management, public transport, environment protection, automotive telematics, parking management, and road user charging. On the basis of region, the global intelligent transportation systems (ITS) market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

Key features of the study:

• This report provides an in-depth analysis of the global intelligent transportation systems (ITS) market and provides market size (US$ billion) and compound annual growth rate (CAGR %) for the forecast period (2022-2028), considering 2021 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the global intelligent transportation systems (ITS) market based on the following parameters - regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered in the global intelligent transportation systems (ITS) market are Continental AG, Garmin, Ltd., Denso Corporation, Robert Bosch GmbH, Visteon Corporation, Delphi Automotive plc, Harman International Industries, Inc., Panasonic Corporation, Alpine Electronics, Inc., and Clarion Company, Ltd.
• The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
• The global intelligent transportation systems (ITS) market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global intelligent transportation systems (ITS) market.

Detailed Segmentation:

• Global Intelligent Transportation Systems (ITS) Market, By Type:
  • Advanced Traveler Information System (ATIS)
  • Advanced Traffic Management System (ATMS)
  • Advanced Transportation Pricing Systems (ATPS)
  • Advanced Public Transport System (APTS)
  • Co-operative Vehicle Systems (CVS)
• Global Intelligent Transportation Systems (ITS) Market, By Application:
  • Traffic Management
  • Road Safety And Surveillance
  • Freight Management
  • Public Transport
  • Environment Protection
  • Automotive Telematics
  • Parking Management
  • Road User Charging
• Global Intelligent Transportation Systems (ITS) Market, By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
• Company Profiles
  • Siemens AG *
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Key Strategies
    • Recent Developments
    • Future Plans
  • TomTom NV
  • Hitachi Ltd
  • Thales Group
  • WS Atkins PLC
  • Telenav, Inc.
  • Nuance Communications Incorporation
  • Kapsch TrafficCom AG
  • EFKON AG
  • Iteris, Inc.
  • Garmin International Inc.

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