Intelligent Transportation System Market: Summary
The Global Intelligent Transportation System Market is projected to reach a value of over USD 48.7 billion by 2027 at a CAGR of around 15%.
The intelligent transportation system refers to an advanced application that helps to provides services to various mode of transport as well as traffic management. Also, it is combinations of leading edge information and communication technologies which is being used in transportation and traffic management system to enhance the efficiency, safety and sustainability of transportation network. Whereas, it is used to improve travel time, speed control, capacity management as well as for incident management.
Hence, the intelligent transportation system is majorly deployed in various applications such as in parking availability system, collision avoidance system, and traffic enforcement camera. These will lead to increase the demand of the market in the forecast period.
Intelligent Transportation System Market: Drivers & Restraints
With the rising traffic jam is witness to boost the growth of the market in the forecast period. Whereas, the deployment of the intelligent transportation system will helps to offers a real time data which is used to improve the traffic jam problem. Also, it helps to provides electronic toll collection, emergency vehicle notification systems, speed alerts, variable speed limits, collision avoidance systems and automated road speed enforcement. Moreover, it also offers ramp metering to control the flow of vehicles which is combining on an expressway and co-ordination of traffic control.
Hence, ITS also helps the drivers to find out the shorter routes and traffic-free routes to enhance the mobility. Also, the collecting of the real-time traffic statistics benefit in controlling traffic signals. These may boost the demand of the intelligent transportation system market in the projected period.
One of the major key concern of the intelligent transportation system market is high costs of installation which may restraining factor for the growth of the market. Whereas, the deployment of the intelligence transportation system contain microwave detectors, dynamic message signs, cameras, highway advisory radio and various other which lead to need a high cost of investment.
Hence, the ongoing covid-19 pandemic also create a major challenges for the market growth as the manufacturing sector are majorly hampered with the lockdown as well as with the shortage of labor and raw material availability. This is projected to delay in ongoing transport project in various extent.
Intelligent Transportation System Market: Key Segments
- Segmentation based on Type: Advanced Traveller Information Systems (ATIS), Advanced Traffic Management System (ATMS), Advanced Transportation Pricing Systems (ATPS) and Advanced Public Transportation System (APTS).
- Segmentation based on Offering: Hardware, Software and Services.
- Segmentation based on Application: Freight Management, Public Transport, Parking Management, Traffic Management, Road Safety and Security, Road Tolling Systems, Environment Protection and Automotive Telematics.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
Intelligent Transportation System Market: Report Scope
The report on the intelligent transportation system market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million)
Type, Offering, Application, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- Siemens (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- THALES GROUP
- Kapsch TrafficCom
- TomTom International BV
- Cubic Corporation
- Cisco Systems, Inc.
- FLIR Systems, Inc.
- Indra Sistemas SA
- EFKON GmbH
- Q-Free ASA
- Other Key Companies
- DENSO CORPORATION
- Iteris, Inc.
- Savari, Inc.
Intelligent Transportation System Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Intelligent Transportation System Market, by Type
- Advanced Traveller Information Systems (ATIS)
- Advanced Traffic Management System (ATMS)
- Advanced Transportation Pricing Systems (ATPS)
- Advanced Public Transportation System (APTS)
Intelligent Transportation System Market, by Offering
Intelligent Transportation System Market, by Application
- Freight Management
- Public Transport
- Parking Management
- Traffic Management
- Road Safety and Security
- Road Tolling Systems
- Environment Protection
- Automotive Telematics
Intelligent Transportation System Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Intelligent Transportation System Market Providers
- Intelligent Transportation System Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Intelligent Transportation System Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE INTELLIGENT TRANSPORTATION SYSTEM MARKET STUDY