Intelligent Transportation System Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019-2030, Segmented By Component; By Solution; By Application; By Region

Description

Global Intelligent Transportation System Market Size on Top Gear at Accelerating CAGR of 7.75% to Cross Milestone of USD 52 Billion by 2030

Global Intelligent Transportation System Market is booming due to rapid urbanization, rising traffic congestions, advancements in technology, governments' initiatives for smart cities, a spurring demand for efficient traffic management, and safety improvements.

BlueWeave Consulting, a leading strategic consulting and Market research firm, in its recent study, estimated the Global Intelligent Transportation System Market size by value at USD 35.27 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Intelligent Transportation System Market size to expand at a CAGR of 7.75% reaching a value of USD 52.19 billion in 2023. The Global Intelligent Transportation System (ITS) Market is driven by increasing urbanization, the need for efficient traffic management, and rising concerns over road safety. Technological advancements in AI, IoT, and big data analytics enhance system capabilities, while government initiatives and funding boost infrastructure development. The growing adoption of smart cities, electric vehicles (EVs), and connected vehicles further propels the market growth. Additionally, the demand for real-time traffic information, reduction in congestions, and improved public transportation systems contribute to the expansion of the Global ITS Market.

Opportunity - Increasing use of AI and machine learning

The adoption of artificial intelligence (AI) and machine learning (ML) in transportation systems is a key growth driver for the Global Intelligent Transportation System Market. AI and ML enhance traffic management, optimize route planning, and improve predictive maintenance, leading to reduced congestion and improved safety. The integration of these technologies enables real-time data analysis and decision-making, fostering efficient public transport operations and smart mobility solutions. The technological advancement is driving substantial investments and innovation in the intelligent transportation sector, accelerating its market growth and development.

Impact of Escalating Geopolitical Tensions on Global Intelligent Transportation System Market

Escalating geopolitical tensions significantly impact the growth of the Global Intelligent Transportation Systems (ITS) Market. Trade restrictions and tariffs disrupt the supply chain for critical ITS components, such as semiconductors and sensors, crucial for the functionality and development of these systems. For instance, the United States-China trade war led to increased costs and delays in procurement of high-tech components. Additionally, heightened cybersecurity threats from hostile nations target ITS infrastructure, exemplified by incidents like the 2020 cyberattack on a Florida traffic management system. Geopolitical instability also shifts government priorities and funding, diverting resources from ITS projects to defense and security, and slowing innovation and deployment. Moreover, international collaboration on ITS standards and technologies is hampered, impacting global interoperability and efficiency.

Global Intelligent Transportation System Market

Segmental Coverage

Global Intelligent Transportation System Market - By Component

Based on component, Global Intelligent Transportation System Market is divided into Hardware, Software, and Services segments. The hardware segment is the largest component in the Global Intelligent Transportation System Market. The segment includes essential components such as sensors, cameras, and communication devices that form the backbone of intelligent transportation systems. The hardware segment dominates due to the substantial investment required for infrastructure development and the continuous demand for upgrading existing systems. Its critical role in data collection, traffic monitoring, and ensuring efficient transportation management drives its prominent position in the market, supporting the implementation and functionality of intelligent transportation solutions globally.

Global Intelligent Transportation System Market - By Solution

Based on solution, Global Intelligent Transportation System Market is divided into Advanced Transportation Management Systems (ATMS), Advanced Traveler Information Systems (ATIS), Advanced Vehicle Control Systems (AVCS), Advanced Public Transportation Systems (ATS), and Cooperative Vehicle Systems (CVS) segments. The advanced transportation management systems (ATMS) segment is the largest solution in the Global Intelligent Transportation System (ITS) Market, due to its critical role in enhancing traffic flow and reducing congestion through real-time monitoring and management of traffic data. The segment includes systems for traffic control, traffic surveillance, and incident management, which are increasingly adopted in urban areas to improve transportation efficiency and safety. The growing demand for smart cities and the need for efficient traffic management solutions further drive the growth of the ATMS segment in the ITS market.

Competitive Landscape

Global Intelligent Transportation System Market is fiercely competitive. Major companies in the Market include Thales Group, Kapsch TrafficCom AG, Siemens AG, TomTom International BV, Q-Free ASA, Hitachi Ltd, Garmin Ltd, Cubic Corporation, Denso Corporation, Iteris Inc., TransCore LP, WS Atkins PLC, Lanner Electronics Inc., EFKON AG, and Xerox Corporation. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Global Intelligent Transportation System Market.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Intelligent Transportation System Market. It also highlights the factors driving forecasts of total Market size. The report promises to provide recent technology trends in Global Intelligent Transportation System Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the Market.

Product Code: BWC23356

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. Global Intelligent Transportation System Market Insights

3.1. Industry Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Rapid urbanization and the growing population in urban areas
  - 3.2.1.2. Increasing government investments in transportation infrastructure and the implementation
  - 3.2.1.3. Growing Traffic Congestion
  - 3.2.1.4. Rising Demand for Safety and Efficiency
- 3.2.2. Restraints
  - 3.2.2.1. Limited interoperability and standardization
  - 3.2.2.2. The lack of awareness and expertise
- 3.2.3. Opportunities
  - 3.2.3.1. The development of new and innovative transportation technologies
  - 3.2.3.2. The increasing use of artificial intelligence and machine learning in transportation systems
- 3.2.4. Challenges
  - 3.2.4.1. Cybersecurity risks and data privacy concerns
  - 3.2.4.2. High Initial Investment Costs
3.3. Technological Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry

4. Global Intelligent Transportation System Market: Marketing Strategies

5. Global Intelligent Transportation System Market Overview

5.1. Market Size & Forecast, 2019-2030
- 5.1.1. By Value (USD Billion)
5.2. Market Share and Forecast
- 5.2.1. By Component
  - 5.2.1.1. Hardware
  - 5.2.1.2. Software
  - 5.2.1.3. Services
- 5.2.2. By Solution
  - 5.2.2.1. Advanced Transportation Management Systems (ATMS)
  - 5.2.2.2. Advanced Traveler Information Systems (ATIS)
  - 5.2.2.3. Advanced Vehicle Control Systems (AVCS)
  - 5.2.2.4. Advanced Public Transportation Systems (APTS)
  - 5.2.2.5. Cooperative Vehicle Systems (CVS)
  - 5.2.2.6. Others
- 5.2.3. By Application
  - 5.2.3.1. Traffic Management
  - 5.2.3.2. Road Safety & Security
  - 5.2.3.3. Freight Management
  - 5.2.3.4. Public Transport Management
  - 5.2.3.5. Others
- 5.2.4. By Region
  - 5.2.4.1. North America
  - 5.2.4.2. Europe
  - 5.2.4.3. Asia Pacific (APAC)
  - 5.2.4.4. Latin America (LATAM)
  - 5.2.4.5. Middle East and Africa (MEA)

6. North America Intelligent Transportation System Market

6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Billion)
6.2. Market Share & Forecast
- 6.2.1. By Component
- 6.2.2. By Solution
- 6.2.3. By Application
- 6.2.4. By Country
  - 6.2.4.1. United States
  - 6.2.4.1.1. By Component
  - 6.2.4.1.2. By Solution
  - 6.2.4.1.3. By Application
  - 6.2.4.2. Canada
  - 6.2.4.2.1. By Component
  - 6.2.4.2.2. By Solution
  - 6.2.4.2.3. By Application

7. Europe Intelligent Transportation System Market

7.1. Market Size & Forecast, 2019-2030
- 7.1.1. By Value (USD Billion)
7.2. Market Share & Forecast
- 7.2.1. By Component
- 7.2.2. By Solution
- 7.2.3. By Application
- 7.2.4. By Country
  - 7.2.4.1. Germany
  - 7.2.4.1.1. By Component
  - 7.2.4.1.2. By Solution
  - 7.2.4.1.3. By Application
  - 7.2.4.2. United Kingdom
  - 7.2.4.2.1. By Component
  - 7.2.4.2.2. By Solution
  - 7.2.4.2.3. By Application
  - 7.2.4.3. Italy
  - 7.2.4.3.1. By Component
  - 7.2.4.3.2. By Solution
  - 7.2.4.3.3. By Application
  - 7.2.4.4. France
  - 7.2.4.4.1. By Component
  - 7.2.4.4.2. By Solution
  - 7.2.4.4.3. By Application
  - 7.2.4.5. Spain
  - 7.2.4.5.1. By Component
  - 7.2.4.5.2. By Solution
  - 7.2.4.5.3. By Application
  - 7.2.4.6. Belgium
  - 7.2.4.6.1. By Component
  - 7.2.4.6.2. By Solution
  - 7.2.4.6.3. By Application
  - 7.2.4.7. Russia
  - 7.2.4.7.1. By Component
  - 7.2.4.7.2. By Solution
  - 7.2.4.7.3. By Application
  - 7.2.4.8. The Netherlands
  - 7.2.4.8.1. By Component
  - 7.2.4.8.2. By Solution
  - 7.2.4.8.3. By Application
  - 7.2.4.9. Rest of Europe
  - 7.2.4.9.1. By Component
  - 7.2.4.9.2. By Solution
  - 7.2.4.9.3. By Application

8. Asia Pacific Intelligent Transportation System Market

8.1. Market Size & Forecast, 2019-2030
- 8.1.1. By Value (USD Billion)
8.2. Market Share & Forecast
- 8.2.1. By Component
- 8.2.2. By Solution
- 8.2.3. By Application
- 8.2.4. By Country
  - 8.2.4.1. China
  - 8.2.4.1.1. By Component
  - 8.2.4.1.2. By Solution
  - 8.2.4.1.3. By Application
  - 8.2.4.2. India
  - 8.2.4.2.1. By Component
  - 8.2.4.2.2. By Solution
  - 8.2.4.2.3. By Application
  - 8.2.4.3. Japan
  - 8.2.4.3.1. By Component
  - 8.2.4.3.2. By Solution
  - 8.2.4.3.3. By Application
  - 8.2.4.4. South Korea
  - 8.2.4.4.1. By Component
  - 8.2.4.4.2. By Solution
  - 8.2.4.4.3. By Application
  - 8.2.4.5. Australia & New Zealand
  - 8.2.4.5.1. By Component
  - 8.2.4.5.2. By Solution
  - 8.2.4.5.3. By Application
  - 8.2.4.6. Indonesia
  - 8.2.4.6.1. By Component
  - 8.2.4.6.2. By Solution
  - 8.2.4.6.3. By Application
  - 8.2.4.7. Malaysia
  - 8.2.4.7.1. By Component
  - 8.2.4.7.2. By Solution
  - 8.2.4.7.3. By Application
  - 8.2.4.8. Singapore
  - 8.2.4.8.1. By Component
  - 8.2.4.8.2. By Solution
  - 8.2.4.8.3. By Application
  - 8.2.4.9. Vietnam
  - 8.2.4.9.1. By Component
  - 8.2.4.9.2. By Solution
  - 8.2.4.9.3. By Application
  - 8.2.4.10. Rest of APAC
  - 8.2.4.10.1. By Component
  - 8.2.4.10.2. By Solution
  - 8.2.4.10.3. By Application

9. Latin America Intelligent Transportation System Market

9.1. Market Size & Forecast, 2019-2030
- 9.1.1. By Value (USD Billion)
9.2. Market Share & Forecast
- 9.2.1. By Component
- 9.2.2. By Solution
- 9.2.3. By Application
- 9.2.4. By Country
  - 9.2.4.1. Brazil
  - 9.2.4.1.1. By Component
  - 9.2.4.1.2. By Solution
  - 9.2.4.1.3. By Application
  - 9.2.4.2. Mexico
  - 9.2.4.2.1. By Component
  - 9.2.4.2.2. By Solution
  - 9.2.4.2.3. By Application
  - 9.2.4.3. Argentina
  - 9.2.4.3.1. By Component
  - 9.2.4.3.2. By Solution
  - 9.2.4.3.3. By Application
  - 9.2.4.4. Peru
  - 9.2.4.4.1. By Component
  - 9.2.4.4.2. By Solution
  - 9.2.4.4.3. By Application
  - 9.2.4.5. Rest of LATAM
  - 9.2.4.5.1. By Component
  - 9.2.4.5.2. By Solution
  - 9.2.4.5.3. By Application

10. Middle East & Africa Intelligent Transportation System Market

10.1. Market Size & Forecast, 2019-2030
- 10.1.1. By Value (USD Billion)
10.2. Market Share & Forecast
- 10.2.1. By Component
- 10.2.2. By Solution
- 10.2.3. By Application
- 10.2.4. By Country
  - 10.2.4.1. Saudi Arabia
  - 10.2.4.1.1. By Component
  - 10.2.4.1.2. By Solution
  - 10.2.4.1.3. By Application
  - 10.2.4.2. UAE
  - 10.2.4.2.1. By Component
  - 10.2.4.2.2. By Solution
  - 10.2.4.2.3. By Application
  - 10.2.4.3. Qatar
  - 10.2.4.3.1. By Component
  - 10.2.4.3.2. By Solution
  - 10.2.4.3.3. By Application
  - 10.2.4.4. Kuwait
  - 10.2.4.4.1. By Component
  - 10.2.4.4.2. By Solution
  - 10.2.4.4.3. By Application
  - 10.2.4.5. South Africa
  - 10.2.4.5.1. By Component
  - 10.2.4.5.2. By Solution
  - 10.2.4.5.3. By Application
  - 10.2.4.6. Nigeria
  - 10.2.4.6.1. By Component
  - 10.2.4.6.2. By Solution
  - 10.2.4.6.3. By Application
  - 10.2.4.7. Algeria
  - 10.2.4.7.1. By Component
  - 10.2.4.7.2. By Solution
  - 10.2.4.7.3. By Application
  - 10.2.4.8. Rest of MEA
  - 10.2.4.8.1. By Component
  - 10.2.4.8.2. By Solution
  - 10.2.4.8.3. By Application

11. Competitive Landscape

11.1. List of Key Players and Their Offerings
11.2. Global Intelligent Transportation System Market Share Analysis, 2023
11.3. Competitive Benchmarking, By Operating Parameters
11.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)

12. Impact of Escalating Geopolitical Tensions on Global Intelligent Transportation System Market

13. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)

13.1. Thales Group
13.2. Kapsch TrafficCom AG
13.3. Siemens AG
13.4. TomTom International BV
13.5. Q-Free ASA
13.6. Hitachi Ltd
13.7. Garmin Ltd
13.8. Cubic Corporation
13.9. Denso Corporation
13.10. Iteris Inc.
13.11. TransCore LP
13.12. WS Atkins PLC
13.13. Lanner Electronics Inc.
13.14. EFKON AG
13.15. Xerox Corporation
13.16. Other Prominent Players

14. Key Strategic Recommendations

15. Research Methodology

15.1. Qualitative Research
- 15.1.1. Primary & Secondary Research
15.2. Quantitative Research
15.3. Market Breakdown & Data Triangulation
- 15.3.1. Secondary Research
- 15.3.2. Primary Research
15.4. Breakdown of Primary Research Respondents, By Region
15.5. Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable