Global Intelligent Transportation System Market Size Was Valued at USD 29.05 Billion In 2022 And Is Projected to Reach USD 68.41 Billion By 2030, Growing at A CAGR of 11.3% From 2023 To 2030.
The intelligent transportation system aims to achieve traffic efficiency by minimizing traffic problems. It enriches users with traffic information in advance, real-time operational information for local convenience, seat availability, shortens travel time for travelers, and improves their safety and comfort. The increasing demand for sensitive vehicles with integrated state-of-the-art telecommunication technology as well as the improved security and police investigation through modern cameras and license plate recognition of vehicles on the streets, aging infrastructure, and the threatened lack of traffic information management are some of the opposing factors which should contribute to market expansion. Corridors and highways have created the need for other traffic management technology. Transport authorities are trying to use innovative and advanced information analytics technologies to cope with the difficulties of increasing traffic. Such Push from government and private players ensures the growth of the Intelligent Transportation System Market.
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Top Company Profiles Players in the Intelligent Transportation System Market are:
Thales Group, Conduent Inc, Cubic Corporation, Addco, Agero Inc, Denso Corporation, EFKON GmbH, Hitachi Ltd, Garmin Ltd, Thales Group, Xerox Corporation, Recardo, Sensys Networks Inc, Telenav Inc, Iteris Inc, Kapsch TrafficCom, Lanner, Nuance Communications Inc, Q-Free ASA, Siemens AG, TomTom International BV, TransCore
The report provides an in-depth analysis of the Intelligent Transportation System Market including a detailed description of market growth and size, value, and the key opportunities in the market, as well as an outline of the factors that are and will be driving the industry's growth, taking previous growth patterns into account. The global Intelligent Transportation System market report provides an in-depth analysis of the market state of Intelligent Transportation System manufacturers, including the latest facts and data, SWOT analysis, and expert views from around the world. The cost structure, market size, Intelligent Transportation System Market Sales, Gross Margin and Market Share, Price, Revenue, Size, Forecast, and Growth Rate are all calculated in the report. The income earned from the sale of This Study and technologies by various application industries is considered in the report.
Segmentation Analysis of Intelligent Transportation System Market:
The Intelligent Transportation System Market can be segmented into various categories to better understand its diverse applications and cater to the specific needs of different customer groups and industries. Here are some common segmentation criteria for the Intelligent Transportation System Market:
By Type
· Hardware
· Software
· Services
By System
· ATMS
· ATIS
· ITPS
· Others
By Application
· Roadway
· Railway
· Aviation
· Maritime
Market share data Market Segment by Regions and Countries Level Analysis:
§ North America (U.S., Canada, Mexico)
§ Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
§ Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
§ Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
§ Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
§ South America (Brazil, Argentina, Rest of SA)
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Key Industry Developments In the Intelligent Transportation System (ITS) Market
· June 2021, Siemens has signed a contract with the National Authority for Tunnels (NAT) to deliver a comprehensive rail system that may feature the first-ever high-speed, electrified main, and freight line remodeling Egypt’s transportation. Siemens Quality will offer its comprehensive integrated services to design, install, commission, and maintain the systems for fifteen years. the overall contract price is close to USD 4.5 billion, of that Siemens Mobility’s share is around USD three billion.
· May 2021, Omaha Underground Transit has awarded Cubic Transportation Systems a multi-year contract to deliver its Umo Pass solution. No Pass can empower Omaha underground Transit riders to seamlessly position and get transit journeys through one fare payment system.
Reasons to Purchase this Market Report:
· Market forecast analysis through recent trends and SWOT analysis
· Keyword Market Dynamics Scenarios with Market Growth Opportunities over the Next Year
· Market segmentation analysis, including qualitative and quantitative studies that include economic and non-economic impacts
· Keyword Market Regional and country-level analysis that integrates demand and supply forces that impact the growth of the market.
· Competitive environment related to the Keyword market share for key players, along with new projects and strategies that players have adopted over the past five years
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