Intelligent Transportation System (ITS) Market By Component (Hardware, Software, Services), By Application (Traffic Management, Freight Management, Advanced Traveller Information System, Advanced Public Transportation System, Security and Surveillance, Ticketing and Tolling System, Others), By End User (Roadways, Railways, Waterways, Airways): Global Opportunity Analysis and Industry Forecast, 2023-2032
Intelligent Transportation Systems (ITS) are a combination of cutting-edge information and communication technologies. ITS are used for traffic management, security and surveillance, and other applications. The major aim of the ITS is to improve safety, reduce accidents, and improve sustainability in the transportation industry. As ITS shares data in real time, it allows for monitoring and adjusting the road network performance through real-time data analytics.
As economies expand and urbanization continues, there is a greater need for the efficient movement of people and goods. For instance, on August 2023 NEC Corporation received a contract from India's Uttar Pradesh State Road Transport Corporation (UPSRTC) for the Vehicle Location Tracking-Passenger Information System (VLT-PSIS) project under the Nirbhaya fund of the Government of India. By implementing state-of-the-art technologies and providing live bus tracking via an Integrated Command Control Centre, this project seeks to address critical safety concerns in buses while improving passengers' overall travel experiences.
Similarly, on November 2023, Alstom SA won a 300 million contract from France, the contract is for 2 RER lines in the Île-de-France region with the latest NExTEO signaling technology, This contract will be applicable for new train automation, control and supervision system. The NExTEO signaling technology will help to ensure a high level of performance in the densely populated central Paris area, while also making it possible to adapt to and manage the less densely populated areas on the suburban branches of the RER B and RER D lines, in the Île-de-France region.
The intelligent transportation systems (ITS) market is driven by rise in traffic jams globally, increased investment in railways and increased inclination of governments towards CO2 emission reduction from the transportation industry. However, factors such as high cost of technology restrain the market growth. On the contrary, growth of connected and autonomous driving car and the improvement of high-speed internet and communications technologies are expected to provide lucrative growth opportunities for the market growth.
The global intelligent transportation system (ITS) market is segmented on the basis of component, application, and end-use. Based on components, the market is bifurcated into hardware, software, and services. Depending on applications, the market has been segregated into traffic management, freight management, advanced traveler information systems, advanced public transportation systems, security and surveillance, ticketing and tolling systems, and others. Based on end use it is fragmented into roadways, railways, waterways and airways. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players covered in the report include Siemens AG, Garmin Ltd, Denso Corporation, Thales Group, Cubic Transportation Systems, Inc., Kapsch TrafficCom AG, Teledyne FLIR LLC, NEC Corporation, Navico Group and Alstom SA
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the intelligent transportation system (its) market analysis from 2022 to 2032 to identify the prevailing intelligent transportation system (its) market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the intelligent transportation system (ITS) market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global intelligent transportation system (ITS) market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy ComponentHardware
Software
Services
By ApplicationTicketing and Tolling System
Others
Traffic Management
Freight Management
Advanced Traveller Information System
Advanced Public Transportation System
Security and Surveillance
By End UserRoadways
Railways
Waterways
Airways
By RegionNorth America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Southeast Asia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market PlayersGarmin Ltd.
Cubic Transportation Systems, Inc.
NEC Corporation
DENSO CORPORATION
Kapsch TrafficCom AG
Alstom SA
Siemens AG
Thales Group
Teledyne FLIR LLC
Navico Group
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