Intelligent Transportation System Market

Intelligent Transportation System Market Size Survey Report – In a Glance

As per the survey report on global Intelligent Transportation System Market, the market is projected to foresee a CAGR of 8.2% between 2024-2033, and further generate a market size of USD 93.3 billion revenue by the end of 2033. In the year 2024, the market size was valued at USD 52.7 billion revenue.

• The global Intelligent Transportation System Market is projected to grow on account of growing traffic congestion.
• In Japan, the increasing road accidents can be attributed to the increased innovation in the Intelligent Transportation System Market.
• KDMI analyst’s growth analysis foresees data privacy & security to challenge the market growth.
• North America, having the highest market share in the Intelligent Transportation System Market, is projected to dominate the global market.

Intelligent Transportation System Market Analysis

An intelligent transportation mechanism, a segment of IoT comprising vehicle-to-infrastructure and vehicle-to-vehicle technology that uses both wireline and wireless communications, depends on electronic & information technologies. Intelligent transportation system considerably improves urban mobility by encouraging smoother traffic flow and maximizing intersection effectiveness. The increasing traffic congestion is a significant growth driver of the intelligent transportation system market. Globally, traffic congestion is on the rise and in 2022, some urban regions surpassed their 2019 levels. According to the 2022 worldwide traffic scorecard by INRIX, a driver in an urban region in the United States spends 51 hours in traffic from 15 hours in 2021. TomTom, Garmin and Siemens are significant players in the global market for Intelligent Transportation Systems.

Analyst’s Observation on Japan Intelligent Transportation System Market Survey

The widespread use of intelligent transportation systems has considerably enhanced traffic efficiency and minimized traffic accidents by offering real-time data, assistance and interference to pedestrians, drivers and operators. The increasing traffic accidents in Japan in total rose by 7072 annually to 307911 and the injured people number increased to 365027 people, a rise of 8426 people. Osaka has the highest proportion of traffic fatalities for the 2nd year with 148 followed by Aichi with 145 and Tokyo with 136. Depending on age, road accidents among people aged 65 and older stayed high with 1465 accidents, registering for 54.7% of all traffic deaths. Hitachi Limited and Denso Corporation are some of the significant manufacturers in the Japanese Intelligent Transportation System Market.

Intelligent Transportation System Market Growth Driver & Market Restraint

Growth Driver

Incorporation of IoT in ITS:

The mix of RFID and IoT technology offered a more effective and responsive public transport system, improving the situations of waiting & congestion. IoT integration in ITS is transforming traffic management, easing congestion and encouraging safety. It is powered by Smart Traffic Management Systems – a combination of technology and IoT devices. With the application of IoT technologies, transportation organizations in urban jungles such as New York City guarantee smooth traffic flow, integrating IoT sensors at several intersections. Such a mechanism aids in minimizing pollution and traffic congestion by reducing the vehicle’s idle time. Also, they help in effective emergency responses, giving attention to crucial vehicles such as ambulances and fire brigades. The integration of IoT in ITS is one significant growth factor of its global market size.

Market Restraint

Data privacy & security:

One of the most problematic difficulties is handling the security and privacy of the large volumes of data generated by the ITS. Crucial data regarding user’s location, behaviour and travel design is being assembled as sensors, connected vehicles and real-time monitoring mechanisms become more broadly incorporated.  

Intelligent Transportation System Market Segmentation

Our experts at KD Market Insights have segmented the global Intelligent Transportation System Market research report as:

Intelligent Transportation System Market Regional Synopsis

North America dominates the Intelligent Transportation System market due to its growing application in the United States to combat traffic congestion. A survey of 500 USA urban areas denoted that urban Americans invested an additional 8.8 billion hours while travelling and an extra 3.3 billion gallons of acquired fuel due to congestion in 2017, amounting to USD 179 billion in total cost of congestion. Further, the North American government is supporting the smart city initiative propelling the intelligent transportation system implementation. The funding for the DATA for Cities Initiative will distribute USD 2.85 million to the U.S Trade and Development Agency to aid smart city infrastructure projects, USD 1.25 million for the generation of smart city Innovation Accelerator that acknowledges small grants to local innovators and USD 500000 for regional technology. The United States government is investing in road infrastructure, and that is also driving the market size of intelligent transportation systems. The IIJA invests USD 550 billion to upgrade physical infrastructure such as bridges, railways, and airports.

Asia Pacific is the fastest-growing region due to the increasing vehicle ownership. The total number of vehicles per capita is assessed at 356 per thousand inhabitants over the ATO economies in 2018-19. Further, Asia leads in electric vehicle sales in the world and it is anticipated that in the next 5 years, more than 60% of the electric vehicles will be sold to the Asian population. Private vehicle registration in the Asian region rose by around 1 billion vehicles between 2000 and 2020, where two and three-wheelers dominated the market. Further, the government’s effort to regulate the traffic and the vehicles in transit is another growth driver of the intelligent transportation system. By mixing data, technology and proactive traffic management, Singapore has been able to minimize congestion and improve commuter safety. The intelligent transport systems Bus customer satisfaction ratings are well maintained and are well above 90%.

Regional Company Names

• Cubic Corporation
• Conduent Incorporated  
• Teledyne Technologies Incorporated
• Garmin Ltd

Intelligent Transportation System Market Competitive Landscape

Some of the key players who top the global Intelligent Transportation System Market share:

• TomTom International BV
• Garmin
• Siemens
• Cisco Systems, Inc.
• Cubic Corporation
• Kapsch TrafficCom
• Thales Group
• Q-Free
• FLIR Systems
• EFKON
• Denso Corporation

1. Executive Summary
   1. Market Overview
   2. Key Findings
   3. Market Trends
   4. Market Outlook
2. Introduction
   1. Scope of the Report
   2. Research Methodology
   3. Definitions and Assumptions
   4. Acronyms and Abbreviations
3. Market Dynamics
   1. Drivers
   2. Restraints
   3. Opportunities
   4. Challenges
4. Global Intelligent Transport System Market
   1. Market Overview
   2. Market Size and Forecast
   3. Market Segmentation
      1. By Mode of Transport
      2. By System
      3. By Application
      4. By Region
5. Market Segmentation by Mode of Transport
   1. Roadway
   2. Railway
   3. Airway
   4. Maritime
   5. Others
6. Market Segmentation by System
   1. Biometric
   2. Commercial Vehicle Operation
   3. Advanced Traffic Management System
   4. Advanced Traveler Information System
   5. Advanced Public Transportation System
   6. Others
7. Market Segmentation by Application
   1. Automotive Telematics
   2. Collision Avoidance
   3. Fleet Management & Asset Monitoring
   4. Intelligence Traffic Control
   5. Others
8. Regional Analysis
   1. North America
      1. United States
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application 
      2. Canada
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      3. Mexico
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
   2. Europe
      1. United Kingdom
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      2. Germany
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      3. France
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      4. Italy
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      5. Spain
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      6. Rest of Europe
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
   3. Asia Pacific
      1. China
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      2. Japan
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      3. India
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      4. Australia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      5. South Korea
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      6. Rest of Asia Pacific
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
   4. Latin America
      1. Brazil
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      2. Argentina
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      3. Colombia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      4. Rest of Latin America
         1. Market Size and Forecast
         2. Key Trends and Developments
         3.               Market Analysis by Mode of Transport, System and Application  
   5. Middle East & Africa
      1. South Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      2. Saudi Arabia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      3. UAE
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
      4. Rest of Middle East & Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Mode of Transport, System and Application  
9. Competitive Landscape
   1. Market Share Analysis
   2. Company Profiles
      1.  TomTom
      2. Garmin
      3. Siemens
      4. Cisco Systems, Inc.
      5. Cubic Corporation
      6. Kapsch TrafficCom
      7. Thales Group
      8. Q-Free
      9. FLIR Systems
      10. EFKON
      11. Denso Corporation
      12. Others
      13.  
10. Strategic Recommendations
11. Appendix
    1. List of Tables
    2. List of Figures
12. References