Intelligent Transportation Systems (ITS)

Intelligent Transportation Systems (ITS)

Global Intelligent Transportation Systems (ITS) Market to Reach US$52.6 Billion by 2030

The global market for Intelligent Transportation Systems (ITS) estimated at US$29.8 Billion in the year 2023, is expected to reach US$52.6 Billion by 2030, growing at a CAGR of 8.4% over the analysis period 2023-2030. Advanced Traffic Management System (ATMS), one of the segments analyzed in the report, is expected to record a 9.1% CAGR and reach US$19.1 Billion by the end of the analysis period. Growth in the Advanced Traveler Information System (ATIS) segment is estimated at 7.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$11.5 Billion While China is Forecast to Grow at 12.3% CAGR

The Intelligent Transportation Systems (ITS) market in the U.S. is estimated at US$11.5 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.2 Billion by the year 2030 trailing a CAGR of 12.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 7.3% and 7.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.7% CAGR.

Global Intelligent Transportation Systems (ITS) Market - Key Drivers and Trends Summarized

Intelligent Transportation Systems (ITS) refer to the integration of advanced technologies into transportation infrastructure and vehicles to enhance the efficiency, safety, and sustainability of transportation networks. These systems encompass a broad range of applications including traffic management, public transportation, road safety, and vehicle-to-everything (V2X) communication. ITS utilizes technologies such as sensors, cameras, GPS, and data analytics to collect, process, and disseminate information in real-time, enabling smarter decision-making by both infrastructure operators and users. The overarching goal is to optimize the movement of people and goods, reduce congestion, minimize environmental impact, and improve overall transportation experiences.

One of the critical components of ITS is traffic management, which includes the use of adaptive traffic signals, congestion pricing, and real-time traffic information systems. Adaptive traffic signals adjust the timing of red and green lights based on current traffic conditions, thereby reducing wait times and improving traffic flow. Congestion pricing, which involves charging vehicles to enter high-traffic areas during peak times, is another strategy that ITS employs to manage demand and reduce congestion. Additionally, real-time traffic information systems provide drivers with up-to-date information about road conditions, accidents, and alternative routes, helping them make informed decisions and avoid delays. These technologies not only enhance the efficiency of existing infrastructure but also contribute to reducing greenhouse gas emissions by alleviating traffic jams and promoting smoother vehicle operations.

The growth in the Intelligent Transportation Systems market is driven by several factors, including the increasing demand for efficient traffic management solutions, rising concerns over road safety, and the growing need for reducing environmental impact. Technological advancements such as the development of autonomous vehicles and the Internet of Things (IoT) have significantly propelled the adoption of ITS. The proliferation of connected devices enables seamless communication between vehicles and infrastructure, enhancing the overall effectiveness of ITS solutions. Furthermore, government initiatives and investments in smart city projects are accelerating the deployment of ITS technologies. As urban populations continue to rise, the need for sustainable and efficient transportation systems becomes more critical, driving further innovation and implementation in the ITS market.

Select Competitors (Total 162 Featured) -

• Citilog SA
• Conduent Business Services, LLC
• Cubic Corporation
• Denso Corporation
• emovis
• Hitachi Vantara Corporation
• IBM Corporation
• Image Sensing Systems Inc.
• INIT Innovation in Traffic Systems SE
• Iteris, Inc.
• Kapsch TrafficCom AG
• LeddarTech Inc.
• Q-Free ASA
• Siemens AG
• SWARCO AG
• TransCore Holdings, Inc.

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