April 12, 2024

Intelligent Transportation System Market Size to Worth Around US$ 47.89 Bn by 2030

[150+ Pages Report] As per the latest Research and survey report issued by Precedence Research, the global intelligent transportation system market was valued at around USD 29.69 billion in 2021 and is expected to register revenues worth USD 47.89 billion by the end of 2030, growing at an exceptional CAGR of approximately 6.3% between 2022 and 2030.

Intelligent Transportation System

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Intelligent Transportation System Market 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.

Intelligent Transportation System Market Report Scope
Report HighlightsDetails
Market SizeUS$ 47.89 Bn by 2030
Growth RateCAGR of 6.3% from 2020 to 2030
Base Year2020
Forecast Year2021 to 2030
Segments CoveredType, Application
Regional ScopeNorth America, Europe, Asia Pacific, Rest of the World
Intelligent Transportation System Market Report 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

Competition Landscape

The report has engulfed a chapter on the global electric vehicle market’s competitive landscape, which provides detailed analysis and insights on companies offering electric vehicle. Profiles of key companies, along with a strategic overview of their M&A and expansion plans across geographies, have been delivered in this chapter. This chapter is priceless for report readers, as its enables them in gauging their growth potential in the market and implement key strategies for extending their market reach.

This chapter offers key recommendations for both new and existing market participants, enabling them to emerge sustainably and profitably. Intelligence on the market players has been delivered on the basis of their product overview, SWOT analysis, key developments, key financials and company overview. Occupancy of these market participants has been tracked by the report and portrayed via an intensity map.

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some of the prominent players in the intelligent transportation system 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
Intelligent Transportation System Market Segments
  • 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

  • Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
  • Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
  • North America [United States, Canada, Mexico]
  • South America [Brazil, Argentina, Columbia, Chile, Peru]
  • Middle East & Africa [GCC, North Africa, South Africa]

Regional Analysis

The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2019 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.

The report provides in-depth segment analysis of the global intelligent transportation system market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the intelligent transportation system market.

The report includes country-wise and region-wise market size for the period 2019-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2019-2030.

Why should you invest in this report?

If you are aiming to enter the global intelligent transportation system market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for intelligent transportation system are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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Precedence Research is a Canada/India based company and one of the leading providers of strategic market insights. We offer executive-level blueprints of markets and solutions beyond flagship surveys. Our repository covers consultation, syndicated market studies, and customized research reports. Through our services we aim at connecting an organization’s goal with lucrative prospects globally.

From gauging investment feasibility to uncovering hidden growth opportunities, our market studies cover in-depth analysis, which also is interspersed with relevant statistics. Recommendation are often enclosed within our reports with the sole intent of enabling organizations achieve mission-critical success.

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Janet Edward

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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