Global Intelligent Transport System (ITS) Market 2024-2028

Global Intelligent Transport System (ITS) Market 2024-2028

The intelligent transport system (ITS) market is forecasted to grow by USD 36.34 bn during 2023-2028, accelerating at a CAGR of 8.55% during the forecast period. The report on the intelligent transport system (ITS) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing traffic congestion and road accidents, the growing road freight logistics market, and growth in the number of smart connected devices.

Technavio's intelligent transport system (ITS) market is segmented as below:

By Application

Traffic management
Toll management
Automotive and infotainment telematics
Public transport
Others

By Type

Advanced traffic management system
Advanced public transportation system
Advanced transportation pricing system
Advanced traveler information system
Others

By Geographical Landscape

North America
Europe
APAC
South America
Middle East and Africa

This study identifies the increasing adoption of cloud computing for fleet management operations as one of the prime reasons driving the intelligent transport system (ITS) market growth during the next few years. Also, increase in number of smart city projects and increased use of meta-intelligence concept in transportation systems will lead to sizable demand in the market.

The report on the intelligent transport system (ITS) market covers the following areas:

Intelligent transport system (ITS) market sizing
Intelligent transport system (ITS) market forecast
Intelligent transport system (ITS) market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading intelligent transport system (ITS) market vendors that include 3M Co., Advantech Co. Ltd., AECOM, Airbus SE, Axiomtek Co. Ltd., Constellation Software Inc., Cubic Corp., EFKON GmbH, Garmin Ltd., GMV Innovating Solutions SL, Hitachi Ltd., HR Green Inc., Indra Sistemas SA, Mundys S.p.A., Serco Group Plc, SICE TyS, Siemens AG, Stantec Inc., Sumitomo Electric Industries Ltd., Teledyne Technologies Inc., and Thales Group. Also, the intelligent transport system (ITS) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.