Intelligent Transportation Systems Market

Introduction of the Global Intelligent Transportation Systems Market Report

Intelligent Transportation System (ITS) is an application that applies advanced technologies of electronics, communications, computers, control and sensing and detects different types of transportation system to improve the safety, efficiency, and sustainability of transportation networks, reduce traffic congestion, and to enhance drivers’ experiences through real-time information transmission.

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Market Dynamic

Key Drivers and Emerging Trends

The global intelligent transportation systems market is expected to grow at a significant rate during the forecast period. The increasing number of mega cities and the increasing concern about traffic congestion, coupled with the growing need for road safety improvements are certain factors that are expected to drive the growth of the intelligent transportation system market during the forecast period. In addition, the increasing sales of vehicles, growing adoption of eco-friendly automobile technology, and the introduction of smart vehicles enabled with intelligent transportation system is further augmenting the growth of the market. Moreover, intelligent transportation system provides several advantages that includes reduction in travel time, decreased congestion, effective management of parking spaces, reduced infrastructure damage, improved traffic safety, and less risk of collisions, and improved air quality. This is likely to stimulate the importance of deploying an intelligent transport system (ITS). Furthermore, increasing public private partnerships (PPP) for advanced traffic management, vehicle to infrastructure (V2I), and vehicle to vehicle (V2V) communication are expected to propel the global intelligent transportation system market size in the coming years.

Restraints in the Global Intelligent Transportation Systems Market

The major factor that is likely to hamper the growth of the market is the high installation cost for monitoring and controlling devices of intelligent transportation system. Moreover, the development of an Intelligent Transportation System infrastructure includes the integration of several heterogeneous device. The synchronization of these heterogeneous devices require standardization in the implementation of several ITS systems. Thus, the lack of a standard ITS infrastructure is another factor that is likely to hinder the market’s growth.

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Mode of Transport – Segment Analysis

Based on mode of transport, the roadways segment is predicted to grow at a significant CAGR during the forecast period. The roadways segment is anticipated to grow at a notable rate during the forecast period. This is mainly due to the growing production and sales volume of vehicles along with the increasing number of road fatalities and auto thefts. The rising concerns for road safety concerns and increasing government initiatives for enhancing road transportation system globally is further supporting the growth of the segment. 

Type – Segment Analysis

On the basis of the type, the advanced traffic management system (ATMS) segment is anticipated to dominate the market during the forecast period. This can be attributed to the several benefits offered by the ATMS including real time information and guidance to users, emergency assistance, alerts for abnormal road and dangerous weather conditions, and reduced journey time assistance. Additionally, the increasing adoption of advanced traffic management system in smart cities for a complete integrated view of overall traffic flow and to manage the mobility ecosystem is expected to boost the market growth.

Application – Segment Analysis

On the basis of application, the automotive telematics segment are expected to lead the market during the forecast period. The strong demand for driving assistance systems and automatic congestion, followed by the rising amount of funding by several governments for the implementation of ITS, especially in the automobile telematics are certain factors that are driving the segment growth.

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Regional – Segment Analysis:

Based on the Region, the North America is anticipated to dominate the market during the forecast period. This is primarily due to the growing adoption of advance communication technologies to counter traffic congestion and boost safety in the region. Rising demand of electric cars and autonomous cars is further expected to support the growth of the market in the coming years. On the other hand, the Asia-Pacific is expected to grow at a higher CAGR over the forecast period. This can be attributed to the rising number of motor vehicles, increasing government funding to support the implementation of ITS for managing public transportation system in Asian countries such as Singapore, India, Malaysia, and China. Moreover, the increasing number of road accidents and vehicle theft is further escalating the demand for intelligent transport system.

Top Market Players

Various notable players operating in the market include Thales Group, Siemens AG, International Business Machines Corp., Cubic Corporation, Denso Corporation, Garmin Ltd., TomTom International BV., Flir Systems Inc., Lanner Electronics Inc., and EFKON GmbH, among others.

Key Developments:

• • In 2020, TomTom International BV, the location technology specialist, in collaboration with Toyota Research Institute – Advanced Development, Inc. (TRI-AD) and one of the leading automotive components manufacturers, DENSO Corporation, announced a successful proof of concept demonstrating a fast high definition (HD) map-building method for roads, essential for safer autonomous driving.
  • In 2019, Cubic Transportation Systems (CTS), business division of Cubic Corporation signed an agreement with Google to integrate contactless transit cards with Google Pay. Through this agreement, the company aims to make fast and easy transaction for travellers by using their mobile phones to pay for their journeys.

Segments covered in the Report:

The global Intelligent Transportation Systems market has been segmented on the basis of mode of transport, type, application, and regions. Based on the mode of transport, the market is segmented into roadways, railways, and airways. Based on type, the market is segmented into advanced traffic management system, advanced traveller information system, ITS-enabled transportation pricing system, advanced public transportation system, and commercial vehicle operation. Based on application, the market is segmented into fleet management and asset monitoring, intelligent traffic control, collision avoidance, parking management, passenger information management, ticketing management, emergency vehicle notification, and automotive telematics. 

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Key questions answered in this research report:

• • At what pace is global Intelligent Transportation Systems market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Intelligent Transportation Systems market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Intelligent Transportation Systems market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various application areas of global Intelligent Transportation Systems market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Mode of Transport, By Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Thales Group, Siemens AG, International Business Machines Corp., Cubic Corporation, Denso Corporation, Garmin Ltd., TomTom International BV., Flir Systems Inc., Lanner Electronics Inc., and EFKON GmbH, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Intelligent Transportation Systems Market by Mode of Transport

• • Roadways
  • Railways
  • Airways

Global Intelligent Transportation Systems Market by Type

• • Advanced Traffic Management System
  • Advanced Traveller Information System
  • ITS-Enabled Transportation Pricing System
  • Advanced Public Transportation System
  • Commercial Vehicle Operation

Global Intelligent Transportation Systems Market by Application

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

Global Intelligent Transportation Systems Market by Region

• • North America Intelligent Transportation Systems Market (Option 1: As a part of the free 25% customization)
    • North America Market by Mode of Transport
    • North America Market by Type
    • North America Market by Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Intelligent Transportation Systems Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Mode of Transport
    • Europe Market by Type
    • Europe Market by Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Intelligent Transportation Systems Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Mode of Transport
    • Asia-Pacific Market by Type
    • Asia-Pacific Market by Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Intelligent Transportation Systems Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Mode of Transport
    • RoW Market by Type
    • RoW Market by Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Intelligent Transportation Systems (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Thales Group
  • Siemens AG
  • International Business Machines Corp.
  • Cubic Corporation
  • Denso Corporation
  • Garmin Ltd.
  • TomTom International BV.
  • Flir Systems Inc.
  • Lanner Electronics Inc.
  • EFKON GmbH