Intelligent Transportation System Market by Offering (Hardware, Services, Software), System (Advanced Public Transportation Systems (APTS), Advanced Traffic Management Systems (ATMS), Advanced Transportation Pricing System (ATPS)), Function, Application -

Intelligent Transportation System Market by Offering (Hardware, Services, Software), System (Advanced Public Transportation Systems (APTS), Advanced Traffic Management Systems (ATMS), Advanced Transportation Pricing System (ATPS)), Function, Application - Global Forecast 2024-2030

The Intelligent Transportation System Market size was estimated at USD 50.15 billion in 2023 and expected to reach USD 53.93 billion in 2024, at a CAGR 7.78% to reach USD 84.77 billion by 2030.

An intelligent transport system aims to achieve transport efficiency by providing innovative services relating to various modes of transport and traffic management. Intelligent transport systems have become an indispensable component of the concept of smart cities transmuting cities into digital societies, making the lives of citizens easy in every facet. It provides users with prior information about traffic, local convenience, real-time running information, and seat availability, reducing commuters' travel time and enhancing their safety and comfort. The surging adoption of advanced connected and autonomous vehicles with enhanced safety features and tracking capabilities is accelerating the deployment of the intelligent transport system in automobiles. However, the high installation and maintenance cost of these systems may limit their adoption by consumers. Moreover, ongoing advancements and improvements in intelligent transportation systems, along with initiatives implemented by governments worldwide to develop smart infrastructure, are expected to encourage the adoption of smart transportation systems worldwide.

Regional Insights

Intelligent transportation systems are highly developing in the Americas owing to the increasing adoption of technologically advanced vehicles and the implementation of cutting-edge technologies to manage the rising traffic concerns. The emphasis of various governments to improve transportation infrastructure is encouraging the adoption of intelligent transportation systems in the APAC region. The increasing demand for advanced technology and rapid expansion of transportation networks are expected to increase the deployment of the intelligent transportation system industry in the APAC region. The surge in the production of autonomous vehicles and government norms for enhancing the safety of vehicles are accelerating the deployment of intelligent transportation systems in automobiles in the EMEA region. Additionally, the ongoing research and integration of breakthrough technologies to improve safety and enhance the operational efficiency of transportation systems are expected to create lucrative opportunities for the growth of the intelligent transportation systems market worldwide.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Intelligent Transportation System Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing adoption of connected and autonomous vehicles worldwide
Digital revolution in the automotive and transportation industry and increasing concerns toward public safety
Integration of transportation systems with navigation systems coupled with growing traffic congestion problems

Market Restraints

High cost of installation and maintenance of intelligent transportation system

Market Opportunities

Technological advancement in the intelligent transportation system to optimize logistics and supply chain operations
Government initiative for the development of smart infrastructure and smart cities

Market Challenges

Lack of standardization and security concerns

Market Segmentation Analysis

Offering: Growing emphasis on creating sustainable and efficient transportation systems
System: Rising adoption of commercial vehicle operation (CVO) systems for enhancing the operational efficiency of commercial logistics
Function: Wider application of intelligent traffic controls for optimal traffic management
Application: Significant use of intelligent transportation system to improve flight safety and operational productivity

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Intelligent Transportation System Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Intelligent Transportation System Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

SSI and TransCore to Partner on Next-Gen Intelligent Transportation.

SSI and TransCore have announced their partnership to develop the next-generation intelligent transportation system. This collaboration will enable SSI to integrate TransCore's technology for tolling, traffic management, and transportation services into their portfolio of solutions. The partnership is expected to leverage SSI's experience and expertise in transportation to enhance mobility and offer reliable services to the transportation industry. Such initiatives are a step forward in addressing the growing demand for smart transportation solutions that are efficient, safe, and sustainable. With this partnership, SSI and TransCore aim to revolutionize the transportation industry by providing advanced and intelligent transportation systems for a better future.

IDIS Co., Ltd. to acquire Costar Technologies, Inc.

IDIS, a global leader in video surveillance solutions, has recently announced its acquisition of Costar Technologies Inc. This deal is a strategic move towards expanding IDIS's presence in the intelligent transportation system market. The integration of Costar's products and services with IDIS's cutting-edge video technology will enable the company to offer a wider range of solutions to the transportation industry. With this acquisition, IDIS aims to strengthen its position as a leading provider of video surveillance solutions for the intelligent transportation system market. The company is dedicated to providing innovative and reliable solutions that meet the evolving needs of its clients.

Rossi Group Acquires Rybinski Engineering.

Rossi, a leading provider of intelligent transportation systems, has announced their recent acquisition of RYBINSKI, a company known for their innovative traffic management solutions. This strategic move anticipates the growing demand for intelligent transportation systems that can enhance the safety and efficiency of our roadways. By joining forces with RYBINSKI, Rossi is now able to offer even more comprehensive solutions to their clients while expanding their global reach. The acquisition demonstrates Rossi's commitment to staying at the forefront of transportation technology and providing top-tier solutions to their clients. With this new partnership, we can expect to see exciting advancements in the field of intelligent transportation systems.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Intelligent Transportation System Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Intelligent Transportation System Market, highlighting leading vendors and their innovative profiles. These include AECOM, Agero, Inc., Axiomtek Co., Ltd., Bosch Sicherheitssysteme GmbH, Bridgestone Corporation, Cellint Traffic Solutions Ltd., Conduent Business Services, LLC, Cubic Corporation, Daktronics, Denso Corporation, DIMTS Ltd., EFKON GmbH, European Telecommunications Standards Institute, Garmin Ltd., GMV Innovating Solutions S.L., Hitachi, Ltd., Indra Sistemas, S.A., Intel Corporation, International Business Machines Corporation, Iteris, Inc., Kapsch TrafficCom AG, Lanner Electronics, Inc., Mitsubishi Heavy Industries, Ltd., N-iX Ltd, PTV Planung Transport Verkehr GmbH, Q-Free ASA, Ricardo PLC, Sensys Networks, Inc., Serco Inc., Siemens AG, Singapore Technologies Engineering Ltd, Stantec Inc., SWARCO AG, TagMaster, Teledyne FLIR LLC, TomTom International BV, TransCore by Roper Technologies, Inc., Transmax Pty Ltd., Verra Mobility Corporation, WSP Global Inc., and Xerox Corporation.

Market Segmentation & Coverage

This research report categorizes the Intelligent Transportation System Market to forecast the revenues and analyze trends in each of the following sub-markets:

Offering
Hardware
Interface Boards
Communication Boards
Multifunctional Boards
Vehicle Detection Boards
Monitoring & Detection Systems
Sensors
Pedestrian Presence Sensors
Speed Sensors
Vehicle Detection Sensors
Surveillance Cameras
AID Cameras
Thermal Cameras
Telecommunication Networks
Copper Lines
Fiber Optic Cables
Wireless Media
Services
Business & Cloud Services
Support & Maintenance Services
Software
Transit Management Software
Video Detection Management Software
Visualization Software
System
Advanced Public Transportation Systems (APTS)
Advanced Traffic Management Systems (ATMS)
Advanced Transportation Pricing System (ATPS)
Advanced Traveler Information Systems (ATIS)
Commercial Vehicle Operation (CVO) Systems
Function
Collision Avoidance
Fleet & Asset Management
Intelligent Traffic Control
Parking Management
Passenger Information Management
Security, Surveillance, & Emergency Notification
Ticketing & Toll Collection
Application
Aviation
Maritime
Railways
Roadways
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year