Global Intelligent Transportation System Market Size, Trends & Growth Opportunity and By Type, By Offering, By Protocol, By Application, By Region and Forecast to 2027 Intelligent Transportation System Market size exceeded USD 40 billion in 2020 and is projected to expand at over 9% CAGR from 2021 to 2027. CAGR 11.48%, Market Size: $43.497 billion in 2022. I plan to retire at 62. Damage control appears to be another . USA: +1-302-846-7766 Looking for The global intelligent transportation system market was valued at US$ 24.32 Bn in 2021. So, public-private partnerships (PPPs), which are also known as public-private partnerships, would be important for the development of ITS. Competitive players in the global intelligent transportation systems market, The global intelligent transportation systems market segmentation, Table of Content and Figure @ https://straitsresearch.com/report/intelligent-transportation-systems-market/toc, An Introduction to the Global Automotive Aftermarket Industry in 2020. Mar 17, 2023 (The Expresswire) -- The global impact of COVID-19 has been unprecedented and staggering, with the market witnessing a negative impact on demand across . For more information on your target market, please contact us below: Follow Us:LinkedIn|Facebook|Instagram|Twitter, Automotive Emission Test Equipment Market, Revenue Forecast, Competitive Landscape, Growth Factors, and Trends, Offering, System, Roadways Application, Railways Application, Aviation Application Maritime Application, Region, North America, Europe, Asia-Pacific, LAME and Rest of the World, Siemens (Germany); Thales Group (France); Kapsch TrafficCom (Austria); Cubic Corporation (US); Conduent, Inc. (US); Garmin Ltd. (US); TomTom International BV (Netherlands); Teledyne FLIR Systems, Inc. (US); Indra Sistemas (Spain); and Denso Corporation (Japan), The software segment is projected to grow at the highest CAGR during the forecast period, Advanced traffic management systems applications held the largest share of the ITS market in 2020. Mobile data terminals are on-board devices that offer a variety of functions and facilitate communication in both directions between a control centre and a moving vehicle. Se vuoi personalizzare le tue scelte, clicca su "Gestisci le impostazioni per la privacy". Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the clients purchase. The market is driven by the increasing demand for efficient transportation systems, the need to reduce traffic congestion and carbon emissions, and . The intelligent transport systems market was valued at USD 22.88 billion in 2020, and is expected to reach a value of USD 30.65 billion by 2026, at a CAGR of 5.11% over the forecast period (2021 - 2026). With relaxations in the lockdowns in the second half of 2021, the industry will witness robust growth. Regional market sizes, concerning products by types, by application, and by players, are also provided. This need came about because it would soon be necessary to do so. Access to only 1 person; cannot be shared; cannot be printed, Access for 2 to 5 users only within same department of one company, Access to a company wide audience; includes subsidiary companies or other companies within a group of companies, We use cookies to enhance user experience, Industry Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed. In 2020, North America had more than 40% of the market. Technologies, Custom The Intelligent Transportation System (ITS) market size, estimations, and forecasts are provided in terms of and revenue (USD millions), considering 2023 as the base year, with history and forecast data for the period from 2017 to 2029. This area is known as a technology hub because it is where cutting-edge technologies like machine learning, big data, cloud computing, and the Internet of Things are being developed and used in a big way. My family is dealing with a significant shock: My father secretly married his caregiver, who is 40 years his junior. The report is assembled to comprise qualitative and quantitative elements of Intelligent Transportation System industry including: market share, market size (value and volume 2017-2021, and . These companies are benefited by their diverse product offering and technological advancement in the intelligent transportation systems industry that help them to capture large customer base. Intelligent transportation systems not only help people avoid crowded routes, which cuts down on the time it takes to get somewhere, but they also help car owners save money by reducing the amount of gas they use. For example, in the year 2020, the government of the United Kingdom will spend $1.9 million on three projects to test out new technology and new ways to improve driving conditions, cut down on traffic congestion, and reduce the amount of time spent waiting in traffic jams. Want to learn more about recent trends and data ? > 4.5 IoT in Transportation Market: Geographic Market Size 4.6 Life Cycle Analysis of IoT . The revolutionizing and modernizing roadway infrastructure that adopts intelligent transportation systems will augment the ITS market revenue. New cars are being made with these systems in both developing and developed countries. Increasing reception of innovation, to manage traffic will reinforce the development of the market during the gauge time frame. The Global Intelligent Transportation Systems Market Size was valued USD 20.7 billion in 2021 and is projected to grow at a CAGR of 15.5% during the forecast period from 2021 to 2030, as per a . The global intelligent transportation system market size is expected to reach USD 52.24 billion by 2030 and is expected to expand at a CAGR of 8.3% from 2023 to 2030, according to a new Grand View . The market players are developing their ITS solutions integrated with Artificial Intelligence (AI) and its applications to attract potential business clients. 4 North Main Street, Selbyville, Delaware 19975 USA This allows speedy flow of the traffic. 1. The coronavirus pandemic hindered the ITS market growth in the first half of 2020 due to lockdowns imposed by government organizations. An Intelligent Transportation System (ITS) is a technology that is used to manage transportation systems . Inc. Demand for Pay-as-you-go ticketing service among commuters in Europe and North America, Rise in favorable government initiatives for effective traffic management in North America and Asia Pacific, Growing investment in railway infrastructure in Europe, Rapidly growing urbanization and rising smart city projects in Asia Pacific, High adoption of wireless technologies in transportation industry in MEA, Expansion of transportation industry in Latin America, High installation cost and data complexity issues, Integration complexities with legacy systems, High cost of maritime equipment High installation cost and data complexity issues, Advanced Traffic Management System (ATMS), Advanced Traveler Information System (ATIS), Advanced Transportation Pricing System (ATPS), Advanced Rural Transportation System (ARTS), Real-time passenger information system (Freight management), Maritime navigation and information system. The government thinks that the next generation of intelligent transportation systems will be powered by AI and will let drivers plan trips without having to worry about traffic. Detailed Table of Content of Global Intelligent Transportation System (ITS) Market Research Report 2023, 1 Intelligent Transportation System (ITS) Market Overview 1.1 Product Overview and Scope of Intelligent Transportation System (ITS) 1.2 Intelligent Transportation System (ITS) Segment by Type 1.3 Intelligent Transportation System (ITS) Segment by Application 1.4 Global Intelligent Transportation System (ITS) Market Size Estimates and Forecasts, 2 Intelligent Transportation System (ITS) Market Competition by Manufacturers 2.1 Global Intelligent Transportation System (ITS) Market Share by Manufacturers (2017-2023) 2.2 Global Intelligent Transportation System (ITS) Revenue Market Share by Manufacturers (2017-2023) 2.3 Global Intelligent Transportation System (ITS) Average Price by Manufacturers (2017-2023) 2.4 Manufacturers Intelligent Transportation System (ITS) Manufacturing Sites, Area Served, Product Type 2.5 Intelligent Transportation System (ITS) Market Competitive Situation and Trends 2.6 Manufacturers Mergers and Acquisitions, Expansion Plans, 3 Intelligent Transportation System (ITS) Retrospective Market Scenario by Region 3.1 Global Intelligent Transportation System (ITS) Retrospective Market Scenario in Sales by Region: 2017-2023 3.2 Global Intelligent Transportation System (ITS) Retrospective Market Scenario in Revenue by Region: 2017-2023 3.3 North America Intelligent Transportation System (ITS) Market Facts and Figures by Country 3.4 Europe Intelligent Transportation System (ITS) Market Facts and Figures by Country 3.5 Asia Pacific Intelligent Transportation System (ITS) Market Facts and Figures by Region, 4 Global Intelligent Transportation System (ITS) Historic Market Analysis by Type 4.1 Global Intelligent Transportation System (ITS) Market Share by Type (2017-2023) 4.2 Global Intelligent Transportation System (ITS) Revenue Market Share by Type (2017-2023) 4.3 Global Intelligent Transportation System (ITS) Price by Type (2017-2023), 5 Global Intelligent Transportation System (ITS) Historic Market Analysis by Application 5.1 Global Intelligent Transportation System (ITS) Market Share by Application (2017-2023) 5.2 Global Intelligent Transportation System (ITS) Revenue Market Share by Application (2017-2023) 5.3 Global Intelligent Transportation System (ITS) Price by Application (2017-2023), 7 Intelligent Transportation System (ITS) Manufacturing Cost Analysis 7.1 Intelligent Transportation System (ITS) Key Raw Materials Analysis 7.2 Proportion of Manufacturing Cost Structure 7.3 Manufacturing Process Analysis of Intelligent Transportation System (ITS) 7.4 Intelligent Transportation System (ITS) Industrial Chain Analysis, 8 Marketing Channel, Distributors and Customers 8.1 Marketing Channel 8.2 Intelligent Transportation System (ITS) Distributors List 8.3 Intelligent Transportation System (ITS) Customers, 9 Intelligent Transportation System (ITS) Market Dynamics 9.1 Intelligent Transportation System (ITS) Industry Trends 9.2 Intelligent Transportation System (ITS) Market Drivers 9.3 Intelligent Transportation System (ITS) Market Challenges 9.4 Intelligent Transportation System (ITS) Market Restraints, 10 Global Market Forecast 10.1 Intelligent Transportation System (ITS) Market Estimates and Projections by Type 10.2 Intelligent Transportation System (ITS) Market Estimates and Projections by Application 10.3 Intelligent Transportation System (ITS) Market Estimates and Projections by Region, 12 Methodology and Data Source 12.1 Methodology/Research Approach 12.2 Data Source 12.3 Author List 12.4 Disclaimer, Purchase this report (Price 3450 USD for a single-user license) -https://www.researchreportsworld.com/purchase/20955661. This report aims to provide a comprehensive presentation of the global market for Intelligent Transportation System (ITS), with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Intelligent Transportation System (ITS). Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Marketin the future. Intelligent Transportation System Market Growth & Trends. The report also discusses technological trends and new product developments. Global Intelligent Transportation Systems (ITS) Market to Reach $42.8 Billion by 2030 In the changed post COVID-19 business landscape, the global market for Intelligent Transportation Systems (ITS) estimated at US$30.3 Billion in the year 2022, is projected to reach a revised size of US$42.8 Billion by 2030, growing at a CAGR of 4.4% over the analysis period 2022-2030. Straits Research Pvt. UK innovators are given more than USD 368 million to build a greener and more sustainable transportation network. Is there a problem with this press release? Se non vuoi che noi e i nostri partner utilizziamo i cookie e i dati personali per questi scopi aggiuntivi, clicca su "Rifiuta tutto". Furthermore, the implementation of modern traffic management systems that focus on utilizing real-time data and simultaneously address the impact criteria is creating a positive market outlook. The integration of energy distribution & charging systems such as smart grids in ITS helps distribution agencies in real-time data utilizations to plan and implement capacity expansion strategies for the future. Mining, Oil & Gas, Food, Advancements in 5G connectivity, supportive government initiatives for the automobile sector, and the increasing role of smartphones in automotive applications, are expected to drive the segment growth notable in the forecast period. The demand for intelligent transport systems is likely to rise at a CAGR of 13.4% from 2022 to 2032. The global intelligent transportation system market size was USD 21.82 billion in 2020 and is projected to grow from USD 22.91 billion in 2021 to USD 42.80 billion in 2028, exhibiting a CAGR of 9.34% during the forecast period. Meanwhile, the ageing infrastructure, increasing number of vehicles on road, lack of proper traffic management system are some of the factors that contribute to the spontaneous growth of the market. However, continuous development in the communication sector along with rapid expansion in the transportation sector anticipated to flourish the market growth for intelligent transportation systems in the Asia Pacific region. The continuous advancements in technologies of transportation networks have accelerated the demand for highly efficient transportation systems. The Global Intelligent Transportation System (ITS) Market Share report is provided for the international markets as well as development trends, competitive landscape analysis, and key regions development status. Favourable government initiatives for effective traffic managementGovernments use ITS to improve road safety, how well transportation systems work, and how they affect the environment. Size of the global market for intelligent transportation systems in 2020 and 2021, with a forecast for 2031, by segment (in million U.S. dollars) [Graph], BIS Research, October 11, 2022. Mar 17, 2023 (The Expresswire) -- Intelligent Transportation System (ITS) Market Size 2023-2029 | New Report (117 . This management centre should be co-located with transportation managers, system operators, dispatchers, and response agencies; however, this would necessitate making significant financial investments. The ITS market in Asia Pacific will grow because of changes in technology and the growth of transportation networks. The global intelligent transport system (ITS) market size is estimated to be valued at US$ 37.8 Bn in 2022 and is projected to surpass a valuation of US$ 132.93 Bn by 2032. This research report titled "Global 3D Printers Market" Insights, Forecast to 2025 has been added to the wide online database managed by Market Research Hub (MRH). The third-party system, which is connected by network solutions, gets real-time information from software solutions about the vehicle's current location and any unplanned route changes that may have happened because of traffic or an accident. The Russian government is undertaking a USD 87.5 billion modernization plan to modernize the countrys railways, highways, airports, ports, and other transportation infrastructure by 2030. Who are the key players in the Intelligent Transportation System (ITS) market? Track sales in the global and country-specific Market. The MarketWatch News Department was not involved in the creation of this content. To know How COVID-19 and Russia-Ukraine War Influence Will Impact This Market/Industry-Request a sample copy of the report-:https://www.researchreportsworld.com/enquiry/request-covid19/20955661. There are problems when there isn't enough information, when the information is wrong, or when there isn't enough coordination. The report will help the Intelligent Transportation System (ITS) companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, product type, application, and regions. Thus, the rate of intelligent transportation system estimated to exhibit a decelerating rate during the COVID-19 times. Preface 1.1. IoT Market in Intelligent Transportation Systems by Components (Semiconductor, Wireless, and Others), Products, Software & Services, Verticals (Road, Rail, Air, and Maritime), Solutions, Applications, and Geography - Analysis & Forecast to 2014 - 2020 . List of TOP KEY PLAYERS in Intelligent Transportation System (ITS) Market Report are: -, Thales Group FLIR Systems, Inc. Siemens Cubic Corporation Garmin EFKON GmbH TomTom International BV Kapsch TrafficCom Denso Corporation Q-Free ASA Indra Sistemas, Get a Sample PDF of the Intelligent Transportation System (ITS) Market Report, Intelligent Transportation System (ITS) Market Analysis and Insights. The industry is likely to be driven by a growing number of vehicles, ageing infrastructure, and a lack of traffic data management. Rising traffic on the roads has a negative effect on the environment because of vehicle emissions. RPT-What happens when your AI chatbot stops loving you back? What is intelligent transportation system? Large investments will be needed to put this management centre in the same place as transportation managers, system operators, dispatchers, and response agencies. Cubic worked with Vixionere SAPI de C.V. (Mexico) to install the Trafficware ATMS central transport management platform, controllers, and Transit Signal Priority software at all project intersections. & Transportation, Bulk Automotive & Transportation This section of the report provides key insights regarding various regions and the key players operating in each region. In June 2021, Plenary Infrastructure Group from Australia gave Kapsch TrafficCom a project to install a new toll collection system on the Louisiana Highway (LA-1) for the Louisiana Department of Transportation and Development (LADOTD). Intelligent Transportation System Market is consolidated because of the presence of some major market players such as Hitachi Ltd., Siemens AG, Kapsch TrafficCom, and Lanner Electronics among others. Advancement in communication technology in the U.S. expected to boost the revolution in the transportation industry. This report can help to understand the relevant market and consumer trends that are driving the Intelligent Transportation System (ITS) market. Cubic and Vixionere SAPI de C.V. (Mexico) worked together to install the Trafficware ATMS central transport management platform, controllers, and Transit Signal Priority software at each intersection that was part of the project. The global intelligent transportation systems market size was valued at USD 23.8 billion in 2021 and is projected to reach USD 38.70 billion by 2030, registering a CAGR of 5.75% from 2022 to 2030. This statistic represents the size of the global market for intelligent transportation systems in 2016, with a breakdown by type. The Intelligent Transportation Systems Joint Program Office (ITS JPO) within the U.S. Department of Transportations (U.S. DOTs) Research and Innovative Technology Administration conducts research on behalf of the U.S. Because of this, the ATMS application had the biggest share of the ITS market in the year 2020. According to the World Economic Forum data, by the year 2030, six cities will emerge as new megacities, including Dar es Salaam, Luanda, and Chennai, as the population keeps flocking to urban areas. Copyright 2023 MarketWatch, Inc. All rights reserved. The global smart infrastructure market size was USD 77.66 billion in 2020. Nutrition & Animal Feed, HVAC Traffic management companies (TMCs) can make better decisions about transportation networks with the help of information technology, which gives them more accurate and up-to-date information. Intelligent Transportation System Market - The global intelligent transportation system market size is expected to reach USD 52.24 billion by 2030 and is expected to expand at a CAGR of 8.3% from . The above information has been provided for the following regions and countries: Get a report that explains COVID-19 impact on this market. This is expected to support the market growth during the forecast period. Research Reports Worldis the credible source for gaining the market reports that will provide you with the lead your business needs. According to Fortune Business Insights, the global Intelligent Transportation System market size is projected to grow from USD 21.82 billion in 2020 to USD 42.80 billion in 2028, at CAGR of 9.34% . Yahoo fa parte della famiglia di brand di Yahoo. Global markets are presented by Intelligent Transportation System (ITS) type, along with growth forecasts through 2029. ITS requires significant funding. Siemens Mobility will provide its full turnkey services for 15 years to design, install, test, and take care of the systems. The MarketWatch News Department was not involved in the creation of this content. Straits Research. The Germany railways application is estimated to grow at around 8% CAGR during 2021 to 2027. At Research Reports World, our objective is providing a platform for many top-notch market research firms worldwide to publish their research reports, as well as helping the decision makers in finding most suitable market research solutions under one roof. Intelligent transportation system market size was valued at USD 15.50 Billion in 2019 and is anticipated to reach USD 48.17 Billion by 2027 at a CAGR of 15.2%. What is the CAGR of intelligent transportation system market? Want to learn about competitors and their Strategy . The readers will also get their hands on the revenue and sales data of each region and country for the period 2017-2029. . needs. Countries like the United States, Dubai, and Japan are putting a lot of money into ITS-related projects. & Media, Energy, They are achieving this by deploying strategies such as product innovation and launch, mergers and acquisitions, and others. Press release - Fairfield Market Research - Intelligent Transportation System (ITS) Market Segmentation : Share, Size, Competitive Analysis, Revenue Opportunity and Forecast 2022-2029 - published . This study provides information about the sales and revenue during the historic and forecasted period of 2017 to 2029. Ask for a Sample Report. North America, Europe, Asia Pacific, Rest of the World, Lanner Electronics, Hitachi Ltd., Kapsch TrafficCom, Denso Corporation, TomTom International BV, Siemens AG, Garmin International, Clever Devices Ltd., Nuance Communications, Intelligent Transportation System (ITS) Market. On the other hand, it is expected that the growth of the ITS industry in the Asia-Pacific region will be helped by changes in technology and the ongoing expansion of transportation networks. The American Jobs Plan aims to modernize over 20,000 miles of roads, highways and main streets. China, Japan, India, and South Africa are some of the notable countries where intelligent transportation system adoption rate is very fast. This drives us to provide you with custom or syndicated research reports. The Europe intelligent transportation system market accounted for about 25% of the revenue share in 2020 and is set to witness rapid growth through 2027 led by the government efforts targeted at developing and modernizing new railway infrastructures. & Specialty Chemicals, Electronics This is attributable to factors such as increasing need for efficient management of the growing traffic in the region. The report provides critical insights and COVID-19 impact analysis on market size, share, trend, forecasts, competitive landscapes, and growth opportunities. Optimistic or Realistic? It may also lead to more deaths on the roads. This report segments the global Intelligent Transportation System (ITS) market comprehensively. Traffic on the roads is caused by a number of things, including the fact that there are more cars on the road and not enough roads and bridges. Intelligent Transportation System Market Growth Reasons: Click here to get the short-term and long-term impacts of COVID-19 on this Market. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes. The need for an efficient management system is predicted to increase with the growing number of on-road cars and the reducing efficiency of existing transport infrastructure. Will provide ITS full turnkey services for 15 years to design, install, test, by! 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