Market Overview:
MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Intelligent Transportation System Market, The Global Intelligent Transportation System Market size was valued at around USD 48.88 billion in 2024 and is projected to reach USD 66.19 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 6.1% during the forecast period, i.e., 2025-30. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Intelligent Transportation System Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.
Industry Outlook & Forecasts:
- Forecast Period: 2025-2030
- Market Size in 2024: USD 48.88 billion
- CAGR (2025-2030): 6.1%
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Global Intelligent Transportation System Market Segmentation Breakdown:
The Intelligent Transportation System Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Component
- Hardware- Market Size & Forecast 2020-2030, USD Million
- Sensors- Market Size & Forecast 2020-2030, USD Million
- Interface Boards- Market Size & Forecast 2020-2030, USD Million
- Surveillance Cameras- Market Size & Forecast 2020-2030, USD Million
- Monitoring & Detection System- Market Size & Forecast 2020-2030, USD Million
- Telecommunication Network- Market Size & Forecast 2020-2030, USD Million
- Others (Electronic Toll Collection (ETC) Systems, Variable Message Signs (VMS), etc.) - Market Size & Forecast 2020-2030, USD Million
- Software- Market Size & Forecast 2020-2030, USD Million
- Visualization Software- Market Size & Forecast 2020-2030, USD Million
- Transit Management System- Market Size & Forecast 2020-2030, USD Million
- Video Detection Management Software- Market Size & Forecast 2020-2030, USD Million
- Others (Fleet Management Software, Smart Parking Software, etc.) - Market Size & Forecast 2020-2030, USD Million
- Services- Market Size & Forecast 2020-2030, USD Million
- Professional- Market Size & Forecast 2020-2030, USD Million
- Managed- Market Size & Forecast 2020-2030, USD Million
- By Type
- Advanced Public Transportation System (APTS) - Market Size & Forecast 2020-2030, USD Million
- Advanced Traffic Management System (ATMS) - Market Size & Forecast 2020-2030, USD Million
- Advanced Traveler Information System (ATIS) - Market Size & Forecast 2020-2030, USD Million
- Advanced Transport Pricing System (ATPS) - Market Size & Forecast 2020-2030, USD Million
- Advanced Rural Transportation System (ARTS) - Market Size & Forecast 2020-2030, USD Million
- Commercial Vehicle Operation (CVO) - Market Size & Forecast 2020-2030, USD Million
- Others (Emergency Vehicle Priority (EVP) Systems, Intelligent Parking Management System, etc.) - Market Size & Forecast 2020-2030, USD Million
Amongst all, Advanced Traffic Management System (ATMS) is expected to garner the largest market share in the forecasting period. It is accredited to the rising demand for an advanced management system with the increasing number of vehicles on the road and surging accidents, which are avoidable through a proper management system.
- By Application
- Roadways - Market Size & Forecast 2020-2030, USD Million
- Intelligent Traffic Control- Market Size & Forecast 2020-2030, USD Million
- Traffic Monitoring Systems- Market Size & Forecast 2020-2030, USD Million
- Traffic Signal Control Systems- Market Size & Forecast 2020-2030, USD Million
- Traffic Enforcement Cameras- Market Size & Forecast 2020-2030, USD Million
- Variable Traffic Message Signboards- Market Size & Forecast 2020-2030, USD Million
- Collision Avoidance- Market Size & Forecast 2020-2030, USD Million
- Parking Management- Market Size & Forecast 2020-2030, USD Million
- Passenger Information Management- Market Size & Forecast 2020-2030, USD Million
- Ticketing Management- Market Size & Forecast 2020-2030, USD Million
- Emergency Vehicle Notification- Market Size & Forecast 2020-2030, USD Million
- Automotive Telematics- Market Size & Forecast 2020-2030, USD Million
- Fleet Management and Asset Monitoring- Market Size & Forecast 2020-2030, USD Million
- Railways- Market Size & Forecast 2020-2030, USD Million
- Rail-running Operation and Collision Avoidance- Market Size & Forecast 2020-2030, USD Million
- Passenger Information Management- Market Size & Forecast 2020-2030, USD Million
- Smart Ticketing- Market Size & Forecast 2020-2030, USD Million
- Security & Surveillance- Market Size & Forecast 2020-2030, USD Million
- Emergency Notification- Market Size & Forecast 2020-2030, USD Million
- Others (Railway Traffic Management, Predictive Maintenance, etc.) - Market Size & Forecast 2020-2030, USD Million
- Airways- Market Size & Forecast 2020-2030, USD Million
- Security & Surveillance- Market Size & Forecast 2020-2030, USD Million
- Traveler Information Management- Market Size & Forecast 2020-2030, USD Million
- Smart Ticketing- Market Size & Forecast 2020-2030, USD Million
- Aircraft Management- Market Size & Forecast 2020-2030, USD Million
- Emergency Notification- Market Size & Forecast 2020-2030, USD Million
- Others (Flight Planning and Optimization, Aircraft Diagnostics and Health Monitoring, etc.) - Market Size & Forecast 2020-2030, USD Million
- Maritime- Market Size & Forecast 2020-2030, USD Million
- Freight Arrival & Transit- Market Size & Forecast 2020-2030, USD Million
- Real-time Weather Information Tracking- Market Size & Forecast 2020-2030, USD Million
- Container Movement Scheduling- Market Size & Forecast 2020-2030, USD Million
- Emergency Notification- Market Size & Forecast 2020-2030, USD Million
- Others (Marine Traffic Analytics, Maritime Security, etc.) - Market Size & Forecast 2020-2030, USD Million
- By Deployment
- Cloud- Market Size & Forecast 2020-2030, USD Million
- On-Premise- Market Size & Forecast 2020-2030, USD Million
Geographical Growth Insights:
- By Region
- North America
- South America
- Europe
- Asia-Pacific
- The Middle East & Africa
Globally, North America dominated the industry with the largest market share during the historical period and is anticipated to continue in the same trend in the forecast period.
MarkNtel Advisors Highlights Key Market Drivers for Intelligent Transportation System Market:
Ever-Growing Need to Reduce Traffic Congestion - The increasing traffic congestion due to the rising number of vehicle purchases resulting from enhanced living standards & disposable income is pushing the demand for a smart transportation system. Thus, the traffic issues like congestion and many private vehicles on the road incompatible with traditional infrastructural designs and traffic systems are driving the market. Additionally, it provides limitless solutions to traffic and road issues by assisting drivers and passengers, reducing accident chances by delivering advanced and fast suggestions, and leading the traffic by calculating numerous dimensions from vehicles to infrastructures. Therefore, the industry is expected to expand exponentially, further enhancing the Global Intelligent Transportation System Market size.
A Comprehensive Analysis of Leading Companies in Global Intelligent Transportation System Market
- Denso Corporation
- Iteris
- Lanner Electronics
- Agero
- EFKON
- Cisco
- Flir System
- Siemens
- TransCore
- Citilog
- Hitachi, Ltd
- Garmin Ltd
- Sensys Networks, Inc.
- Kapsch TrafficCom AG
- IBI Group
- Others
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Intelligent Transportation System Market Recent Development:
- In April 2023, Siemensunveiled a digital model of next-generation FREYR Battery factories developed using NVIDIA technology at the Hannover Messe 2023 trade show.
- In March 2023, Denso Corporation and Toyota Motor Corporationsigned an agreement with Electron, an Israel-headquartered wireless charging development company, to jointly develop an advanced wireless vehicle kit (vehicle receiver) and promote wireless technology.
What are the growth Opportunity driving the Global Intelligent Transportation System Market?
Emergence of Autonomous and Connected Vehicles and Infrastructure - The development and research towards the innovation of autonomous vehicles and research towards producing connected cars with each other and the surrounding infrastructure will create innovative opportunities for the market. For instance,
In January 2021, Denso Corporation collaborated with Aeva, manufacturer of LiDAR and perception systems for autonomous vehicles, to develop sensing and perception systems to produce Frequency Modulated Continuous Wave (FMCW) LiDAR that can aid in assessing vehicle velocity and reflectivity.
Additionally, the emergence of smart cities and the installation of advanced technologies in different sectors calls for a connected traffic system with enhanced communication systems to avoid collisions and other traffic issues by integrating modern tech into the transport systems, improving infrastructure, etc., propagating market expansion.
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