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Intelligent Transportation System (ITS) Market Size to Touch US$ 47.89 billion by the end of the year 2030

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The intelligent transportation system (ITS) market size is projected to reach over US$ 47.89 billion by the end of the year 2030 from US$ 29.69 billion in 2020 at a steady CAGR of 6.3% from 2021 to 2030, according to Precedence Research.

Latest Research Study on ” intelligent transportation system (ITS) Market – Global Industry Analysis, Market Size, Share, Growth, Trends, Region Outlook, And Segment Forecasts, 2021 – 2030″.

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This research report evaluates the intelligent transportation system (ITS) market on a global and regional level. It offers a thorough analysis of the market revenue status, growth, future trends, and forecast of the global intelligent transportation system (ITS) market for the period from 2017 to 2030.

Growth Factors

Numerous government initiatives for the development of smart cities along with increasing adoption of smart transportation modes in order to reduce the traffic congestion are some of the major factors that drive the global intelligent transportation systems market. In respect to speed up the mobility of the traffic and reduce congestion governments of various regions significantly developing or investing heavily to develop the smart transport infrastructure.

Besides this, smart transportation system also helps to reduce the total number of deaths from road accidents by smartly assisting the drivers through GPS system, radio frequency, radars, and other mode of communication systems. As per the report published by NHSTA, there were nearly 52,190 vehicles in the United States that were involved in serious crashes occurred in 2016, among them 40,908 were passenger cars.

Further, rapid adoption of Internet of Things (IoT), Artificial Intelligence (AI), big data, and blockchain along with their significant penetration in automotive sector is another major factor that drives the growth of intelligent transportation system market. These solutions facilitate rapid exchange of information and data between service providers and consumers. In addition, the above mentioned solutions also offer accurate data and real-time visibility over shipment coupled with higher level of customer satisfaction and increased efficiency.

However, the sudden outbreak of corona virus in the early 2020 has disrupted several industries including transportation. New regulations and policies directed by the government in order to control the spread of corona virus have interrupted the supply chain. New laws for maintaining social distance impact badly on the growth of public transportation sector. Although, private mode of transportation such as self-owned vehicles expected to seek consequent growth in pandemic times.

Market Report Scope

Report Highlights Details
Market Size US$ 47.89 Bn by 2030
Growth Rate CAGR of 6.3% from 2020 to 2030
Base Year 2020
Forecast Year 2021 to 2030
Segments Covered Type, Application
Regional Scope North America, Europe, Asia Pacific, Rest of the World

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This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global intelligent transportation system (ITS) market for the forecast period of 2021–2030. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.

The report analyzes the historical and present-day scenario of the global intelligent transportation system (ITS) market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.

Key Highlights

  • North America led the global intelligent transportation system market with a revenue share of nearly 41% in the year 2020 due to technological advancement and rapid transformation in the automotive sector
  • The Asia Pacific anticipated to flourish at the fastest growth rate in the upcoming years because of fast penetration of advanced technologies in the automotive sector such as big data, IoT, AI, and blockchain
  • On the basis of type segment, Advanced Traffic Management System (ATMS) held the major revenue share on the global level accounting for more than 31.8% in 2020
  • Public transportation system segment expected to grow at the fastest rate during the forthcoming years owing to increasing number of passengers and investment for real-time information in public transportation
  • By application, traffic management segment captured majority of market share in the global intelligent transportation system market in the year 2020
  • Automotive telematics segment estimated to witness the highest growth rate of nearly 7.3% during the forecast period due to its positive impact on increasing the safety and security of a vehicle
  • North America dominated the global intelligent transportation system market because of significant penetration of major market participants in the region.
  • the Asia Pacific estimated to exhibit the fastest CAGR over the forecast period because of rapid transformation in the automotive and transportation sector.

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Competition Landscape

In the final section of the research report, Precedence Research provided the global intelligent transportation system (ITS) market structure and a detailed competition landscape to provide a dashboard view of key players operating in the global market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the market.

Some of the major players in the intelligent transportation system (ITS) market include:

  • Lanner Electronics
  • Hitachi Ltd.
  • Kapsch TrafficCom
  • Denso Corporation
  • TomTom International BV
  • Siemens AG
  • Garmin International
  • Clever Devices Ltd.
  • Nuance Communications
  • Lanner Electronics
  • Thales Group

Market Segmentation

  • Type Outlook
    • ATIS
    • ATPS
    • ATMS
    • EMS
    • APTS
  • Application Outlook
    • Road Safety & Security
    • Traffic Management
    • Public Transport
    • Freight Management
    • Environment Protection
    • Parking Management
    • Automotive Telematics
    • Road Tolling Systems

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Research Methodology

  • Market estimate for 2020
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Most Asked Questions –

What was the market size value of the intelligent transportation system (ITS) in 2020?

What is the expected market size by 2030?

What is the intelligent transportation system (ITS) market growth?

What are the key factors that positively influence market growth?

Who are the prominent players in the intelligent transportation system (ITS) market?

Why Buy this Report?

The purpose of Precedence Research’s intelligent transportation system (ITS) market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

TABLE OF CONTENT

Chapter 1.    Introduction

1.1.    Research Objective
1.2.    Scope of the Study
1.3.    Definition

Chapter 2.    Research Methodology

2.1.    Research Approach
2.2.    Data Sources
2.3.    Assumptions & Limitations

Chapter 3.    Executive Summary

3.1.    Market Snapshot

Chapter 4.    Market Variables and Scope 

4.1.    Introduction
4.2.    Market Classification and Scope
4.3.    Industry Value Chain Analysis
4.3.1.    Raw Material Procurement Analysis
4.3.2.    Sales and Distribution Channel Analysis
4.3.3.    Downstream Buyer Analysis

Chapter 5.    Market Dynamics Analysis and Trends

5.1.    Market Dynamics
5.1.1.    Market Drivers
5.1.2.    Market Restraints
5.1.3.    Market Opportunities
5.2.    Porter’s Five Forces Analysis
5.2.1.    Bargaining power of suppliers
5.2.2.    Bargaining power of buyers
5.2.3.    Threat of substitute
5.2.4.    Threat of new entrants
5.2.5.    Degree of competition

Chapter 6.    Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis
6.1.2.    Key Strategies Adopted by Players
6.1.3.    Vendor Landscape
6.1.3.1.    List of Suppliers
6.1.3.2.    List of Buyers

Chapter 7.    Global Intelligent Transportation System Market, By Product

7.1.    Intelligent Transportation System Market, by Product Type, 2021-2030
7.1.1.    ATIS
7.1.1.1.    Market Revenue and Forecast (2017-2030)
7.1.2.    ATPS
7.1.2.1.    Market Revenue and Forecast (2017-2030)
7.1.3.    ATMS
7.1.3.1.    Market Revenue and Forecast (2017-2030)
7.1.4.    EMS
7.1.4.1.    Market Revenue and Forecast (2017-2030)
7.1.5.    APTS
7.1.5.1.    Market Revenue and Forecast (2017-2030)

Chapter 8.    Global Intelligent Transportation System Market, By Application

8.1.    Intelligent Transportation System Market, by Application, 2021-2030
8.1.1.    Road Safety & Security
8.1.1.1.    Market Revenue and Forecast (2017-2030)
8.1.2.    Traffic Management
8.1.2.1.    Market Revenue and Forecast (2017-2030)
8.1.3.    Public Transport
8.1.3.1.    Market Revenue and Forecast (2017-2030)
8.1.4.    Freight Management
8.1.4.1.    Market Revenue and Forecast (2017-2030)
8.1.5.    Environment Protection
8.1.5.1.    Market Revenue and Forecast (2017-2030)
8.1.6.    Parking Management
8.1.6.1.    Market Revenue and Forecast (2017-2030)
8.1.7.    Automotive Telematics
8.1.7.1.    Market Revenue and Forecast (2017-2030)
8.1.8.    Road Tolling Systems
8.1.8.1.    Market Revenue and Forecast (2017-2030)
8.1.9.    Others
8.1.9.1.    Market Revenue and Forecast (2017-2030)

Chapter 9.    Global Intelligent Transportation System Market, Regional Estimates and Trend Forecast

9.1.    North America
9.1.1.    Market Revenue and Forecast, by Product (2017-2030)
9.1.2.    Market Revenue and Forecast, by Application (2017-2030)
9.1.3.    U.S.
9.1.3.1.    Market Revenue and Forecast, by Product (2017-2030)
9.1.3.2.    Market Revenue and Forecast, by Application (2017-2030)
9.1.4.    Rest of North America
9.1.4.1.    Market Revenue and Forecast, by Product (2017-2030)
9.1.4.2.    Market Revenue and Forecast, by Application (2017-2030)
9.2.    Europe
9.2.1.    Market Revenue and Forecast, by Product (2017-2030)
9.2.2.    Market Revenue and Forecast, by Application (2017-2030)
9.2.3.    UK
9.2.3.1.    Market Revenue and Forecast, by Product (2017-2030)
9.2.3.2.    Market Revenue and Forecast, by Application (2017-2030)
9.2.4.    Germany
9.2.4.1.    Market Revenue and Forecast, by Product (2017-2030)
9.2.4.2.    Market Revenue and Forecast, by Application (2017-2030)
9.2.5.    France
9.2.5.1.    Market Revenue and Forecast, by Product (2017-2030)
9.2.5.2.    Market Revenue and Forecast, by Application (2017-2030)
9.2.6.    Rest of Europe
9.2.6.1.    Market Revenue and Forecast, by Product (2017-2030)
9.2.6.2.    Market Revenue and Forecast, by Application (2017-2030)
9.3.    APAC
9.3.1.    Market Revenue and Forecast, by Product (2017-2030)
9.3.2.    Market Revenue and Forecast, by Application (2017-2030)
9.3.3.    India
9.3.3.1.    Market Revenue and Forecast, by Product (2017-2030)
9.3.3.2.    Market Revenue and Forecast, by Application (2017-2030)
9.3.4.    China
9.3.4.1.    Market Revenue and Forecast, by Product (2017-2030)
9.3.4.2.    Market Revenue and Forecast, by Application (2017-2030)
9.3.5.    Japan
9.3.5.1.    Market Revenue and Forecast, by Product (2017-2030)
9.3.5.2.    Market Revenue and Forecast, by Application (2017-2030)
9.3.6.    Rest of APAC
9.3.6.1.    Market Revenue and Forecast, by Product (2017-2030)
9.3.6.2.    Market Revenue and Forecast, by Application (2017-2030)
9.4.    MEA
9.4.1.    Market Revenue and Forecast, by Product (2017-2030)
9.4.2.    Market Revenue and Forecast, by Application (2017-2030)
9.4.3.    GCC
9.4.3.1.    Market Revenue and Forecast, by Product (2017-2030)
9.4.3.2.    Market Revenue and Forecast, by Application (2017-2030)
9.4.4.    North Africa
9.4.4.1.    Market Revenue and Forecast, by Product (2017-2030)
9.4.4.2.    Market Revenue and Forecast, by Application (2017-2030)
9.4.5.    South Africa
9.4.5.1.    Market Revenue and Forecast, by Product (2017-2030)
9.4.5.2.    Market Revenue and Forecast, by Application (2017-2030)
9.4.6.    Rest of MEA
9.4.6.1.    Market Revenue and Forecast, by Product (2017-2030)
9.4.6.2.    Market Revenue and Forecast, by Application (2017-2030)
9.5.    Latin America
9.5.1.    Market Revenue and Forecast, by Product (2017-2030)
9.5.2.    Market Revenue and Forecast, by Application (2017-2030)
9.5.3.    Brazil
9.5.3.1.    Market Revenue and Forecast, by Product (2017-2030)
9.5.3.2.    Market Revenue and Forecast, by Application (2017-2030)
9.5.4.    Rest of LATAM
9.5.4.1.    Market Revenue and Forecast, by Product (2017-2030)
9.5.4.2.    Market Revenue and Forecast, by Application (2017-2030)

Chapter 10.    Company Profiles

10.1.    Lanner Electronics
10.1.1.    Company Overview
10.1.2.    Product Offerings
10.1.3.    Financial Performance
10.1.4.    Recent Initiatives
10.2.    Hitachi Ltd.
10.2.1.    Company Overview
10.2.2.    Product Offerings
10.2.3.    Financial Performance
10.2.4.    Recent Initiatives
10.3.    Kapsch TrafficCom
10.3.1.    Company Overview
10.3.2.    Product Offerings
10.3.3.    Financial Performance
10.3.4.    Recent Initiatives
10.4.    Denso Corporation
10.4.1.    Company Overview
10.4.2.    Product Offerings
10.4.3.    Financial Performance
10.4.4.    Recent Initiatives
10.5.    TomTom International BV
10.5.1.    Company Overview
10.5.2.    Product Offerings
10.5.3.    Financial Performance
10.5.4.    Recent Initiatives
10.6.    Siemens AG
10.6.1.    Company Overview
10.6.2.    Product Offerings
10.6.3.    Financial Performance
10.6.4.    Recent Initiatives
10.7.    Garmin International
10.7.1.    Company Overview
10.7.2.    Product Offerings
10.7.3.    Financial Performance
10.7.4.    Recent Initiatives
10.8.    Clever Devices Ltd.
10.8.1.    Company Overview
10.8.2.    Product Offerings
10.8.3.    Financial Performance
10.8.4.    Recent Initiatives
10.9.    Nuance Communications
10.9.1.    Company Overview
10.9.2.    Product Offerings
10.9.3.    Financial Performance
10.9.4.    Recent Initiatives
10.10.    Lanner Electronics
10.10.1.    Company Overview
10.10.2.    Product Offerings
10.10.3.    Financial Performance
10.10.4.    Recent Initiatives

Chapter 11.    Research Methodology

11.1.    Primary Research
11.2.    Secondary Research
11.3.    Assumptions

Chapter 12.    Appendix

12.1.    About Us
12.2.    Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

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Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

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