Dublin, April 23, 2024 (GLOBE NEWSWIRE) — The “Intelligent Transportation Systems (ITS) – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Intelligent Transportation Systems (ITS) Market to Reach $52.6 Billion by 2030
The global market for Intelligent Transportation Systems (ITS) estimated at US$27.4 Billion in the year 2022, is projected to reach a revised size of US$52.6 Billion by 2030, growing at a CAGR of 8.5% over the analysis period 2022-2030. Advanced Traffic Management System (ATMS), one of the segments analyzed in the report, is projected to record a 9.1% CAGR and reach US$19.1 Billion by the end of the analysis period. Growth in the Advanced Traveler Information System (atis) segment is estimated at 7.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $10.7 Billion, While China is Forecast to Grow at 12.3% CAGR
The Intelligent Transportation Systems (ITS) market in the U.S. is estimated at US$10.7 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$6.2 Billion by the year 2030 trailing a CAGR of 12.3% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.3% and 7.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 7.7% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 739 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $27.4 Billion |
| Forecasted Market Value (USD) by 2030 | $52.6 Billion |
| Compound Annual Growth Rate | 8.5% |
| Regions Covered | Global |
MARKET OVERVIEW
- COVID-19 Necessitates Profound Changes in Travel Patterns
- Pandemic Holds Hidden Opportunity for Intelligent Transportation System
- Pandemic Creates Need for Resilient Transportation System
- COVID-19 Brings Forth Need for Intelligent Transportation Systems amid Certain Limitations
- Competitive Scenario
- Select Innovations & Advancements
- Competitive Market Presence – Strong/Active/Niche/Trivial for 162 Players Worldwide in 2023 (E)
- Intelligent Transportation System: A Cornerstone Technology for Smart Transportation
- ITS Empowering the Real Modern Day Transport Infrastructure
- Rationale behind Installation of ITS
- Key ITS Capabilities in a Capsule
- Enhancing Efficiency & Economy of Transport Systems
- Ensuring Safety & Security
- Key Result Areas of ITS in Ensuring Safety
- ‘ITS’ as a Means for Ensuring Better Environment Quality
- Internet, X Ray and DSRC: The Key ITS Enablers
- Global Market Prospects & Outlook
- Developed Markets: Traditional Revenue Contributors for ITS Market
- Developing Markets to Turbo Charge Future Growth in the ITS Market
- Intelligent Transportation Systems (ITS): An Introduction
- Different Phases of ITS Application
- Broad Classification of Intelligent Transportation Systems
- In Vehicle Intelligent Transportation Systems: A Complimentary Review
- Recent Market Activity
- Select Global Brands
MARKET TRENDS & DRIVERS
- Market Scenario in a Nutshell
- As a Novel Platform Capable of Enabling Future-Proof Traffic Management, ITS Set to Widen its Addressable Market
- Continued Rise in Vehicular Traffic and Need to Regulate Traffic Flow: A Business Case for ITS Investments
- Growing Number of Road Accidents and Need to Ensure on-Road Safety to Commuters Drives Business Case for ITS
- Focus on Smart Highways and Smart Roads to Enhance ITS Deployments
- Highways: Global Cumulative Investments in Roadways Vs Actual Need for the Period 2016-2040 (In US$ Billion)
- Growing Investments in Road Infrastructure Development
- Heightened Focus on Integrating Diverse Technologies Set to Streamline ITS Landscape
- Prevailing Technological Trends Fully Support Deployments of Large-Scale ITS
- Rapid Urbanization Triggers Growth in the ITS Market
- Increasing Number of Mega Cities Favors Future Growth
- Major Global Cities Leading the Way in Deployment of Intelligent Transportation Systems
- Growing Smart City Market to Drive Demand for ITS
- How Intelligent Transportation Systems Benefits Smart Cities?
- Capabilities to Improve Logistics Drives Adoption of ITS
- Growing Emphasis on Smart Transportation Widens Prospects
- Smart Parking Technologies Come to the Fore to Address Parking Related Issues
- Transformational Role of IoT Expands ITS Application Areas
- Advanced In-Vehicle Infotainment Systems Render Support to ITS Networks
- Public-Private Collaborations Support ITS Development
- Government Policy Vis-a-vis ITS Projects: Critical for ITS Implementations
- Private Sector Purchases Set to Increase
- The Secret of Success of ITS Projects Lies in “Concept Selling”
- Rapidly Evolving Role of Cellular Networks in ITS: A Major Ongoing Trend
- 5G to Widen the Role of Cellular Connectivity in ITS Ecosystem
- Dynamic Roadside Signs for Providing Information about Truck Parking Space Availability
- Super Intelligent Transport Systems Emerge to Redefine ITS Concept
- Amalgamation of Technologies Key to Success of ITS
- Technology Developers & Authorities Seek to Bring Forward Interoperability Standards
- Key Objective Areas of the Common Standards
- Automated Electronic Toll Collection Makes its Way into the ITS Domain
- Positive Outlook for ETC Systems Market
- Growing Popularity of Road User Charging Brightens Market Prospects for ETC
- Need to Avoid Lengthy Waiting Lines & Environmental Pollution at Toll Plazas Drives Demand
- Innovation & Market Differentiation – Key Determinants for Success of ETC Projects
- Lower Operational Costs of ETC Systems Enable Increased Acceptance
- Smart Cards in Demand for ETC Systems
- Cooperative ITS Promises to Change the Face of Urban Transportation
- Europe Remains at the Forefront of C-ITS Efforts Worldwide
- V2X Gains Notable Attention to Alleviate Traffic Concerns
- Connected Vehicles Pave the Way for Wider Uptake of V2X Technologies
- V2X Technology Improves Vehicle Telematics
- ATMS Witness Greater Adoption
- GSMA Issues Guidelines for Spectrum Considerations in ITS
- Road Safety Cameras Augment ITS Capabilities
- Role of Master Plans and Common Standards
- Growing Data Volumes to Drive Use of Data Analytics in ITS
- Using Open Data & Big Data to Improve ITS Services
- Implications of Open Data in Designing ITS Services
- Big Data Applications Raise Privacy Concerns in ITS
- Protection for ITS Vital to Prevent Cyber Attacks
- Key Issues to Reckon with
- Potential Risks & Threats to Smart Vehicles and ITS Networks
- Regional Differences in ITS Services Adoption Persist
- Privacy Concerns
- Low Awareness Levels on Benefits of ITS
- Myths about Red Light Cameras Limits its Adoption
FOCUS ON SELECT PLAYERS(Total 162 Featured)
- Cisco Systems, Inc.
- Advantech Co., Ltd.
- Axis Communications AB
- Aselsan A.S.
- Applied Information, Inc.
- Activu Corporation
- Bentley Systems, Inc.
- Cellint Traffic Solutions
- Atkins
- China ITS (Holdings) Co., Ltd.
- Aptiv PLC
- Atlantia SpA
- BestMile SA
- Beijing Wanji Technology
- Busmatick Group
For more information about this report visit https://www.researchandmarkets.com/r/5bqo2m
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- Intelligent Transportation Systems (ITS) Market
