Global Intelligent Transportation System Market by Type (ATMS, ATPS, APTS, EMS, ATIS) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global intelligent transportation system market was valued at USD 25,378.2 millions in 2020. It is expected to grow at a compound annual rate (CAGR of 7.0%) between 2021 and 2028. Market growth is expected to be driven by the growing demand for traffic control solutions and smart vehicles that are integrated with the most recent telecommunications technology. Modern cameras and License Plate Recognitions will also increase safety and surveillance. Other factors expected to drive the market growth include the growing number of vehicles on the roads, the aging infrastructure and the lack of traffic data management. Alternative traffic management technologies are needed because of the urgent need to manage traffic flows across highways and city corridors. Transportation authorities are eager to use advanced data analytics technologies to tackle the problem of increasing traffic.

The COVID-19 pandemic has caused severe disruptions in the sales and installation of new intelligent transportation systems (ITS). Due to supply chain disruptions and a shortage of components, several major system manufacturers had to temporarily suspend their operations. However, existing ITS solutions are being utilized aggressively around the world. While both public and private entities have made various efforts to succeed, smart technology implementation has proven the importance of technology in shaping the future.

Supply chains have been severely affected by the various restrictions, including border closures and lockdowns, imposed in different countries to stop the spread of coronavirus. Temporarily, manufacturing and assembling plants were also closed. The shortage of manpower is causing delays in ongoing transportation projects. The ITS ecosystem relies heavily on electronics and telecommunications and is likely to experience a slowdown. In the short-term, a decrease in deployment of smart transportation systems appears inevitable.

An ITS typically uses a combination of video surveillance devices, vehicle probes, and navigation systems to collect real-time information. This data is then analyzed by the internet, mobile telephony or dynamic signboards and sent to the user. ITS can be used for both rail and road transport, as well as water and air transport. The adoption of ITS is expected to increase due to technological advances in sensing, telecommunications and other areas. However, the preference to implement an ITS is growing as one of key factors driving the digitization and reorganization of many aspects of the transportation infrastructure.

Market growth is driven by the deployment of intelligent transportation systems (ITS) to reduce road accidents, and improve road safety. The demand for Vehicle-to-Infrastructure (V2I) and Vehicle-to-Vehicle (V2V) communication to enhance road safety is expected to gain traction over the next few years. The transportation industry continues to develop, which has prompted the need for an efficient transportation system that can improve road networks. The expectations and prospects for sustainable transportation and traffic management have been redefined by technological advances such as blind spot detection and electronic toll collection.

Advanced traffic management systems are required due to the increasing number of vehicles on roads and subsequent traffic congestions. These systems could reduce travel time and improve traffic management. Advanced traffic management systems allow authorities and public safety agencies the ability to quickly and efficiently respond to emergencies and accidents.

Type Insights

In 2020, the market share for Advanced Traffic Management System (ATMS), was more than 30%. The market leaders offer solutions that combine data processing technology and sensing and telecoms technologies. This allows for real-time transportation management and sharing of information with travelers and drivers. Advanced traffic management systems are required due to the increasing number of vehicles and subsequent traffic congestions. These systems could reduce travel time and improve traffic management. Advanced traffic management systems allow authorities and public safety agencies the ability to quickly and efficiently respond to emergencies and accidents.

The segment Advanced Public Transportation System (APTS), is expected to experience significant growth during the forecast period. APTS gives you a better view of the timings of trains and buses. Because many people use public transportation, aggressive investments in real time information systems could help to share real-time information about buses and trains with commuters.

Application Insights

In 2020, the traffic management segment held more than 30% of the market. Traffic management systems improve the reliability and performance of road networks. These systems include, among others, vehicle detection systems, bridge traffic control systems, ramp metering and other systems. Frequent traffic jams can lead to significant financial losses due to increased travel time and higher fuel consumption. The economic and socio-economic growth a country suffers from traffic congestions can also be severely affected. As part of their efforts to reduce government debt, governments from all parts of the globe are placing a lot of emphasis on traffic management systems.

The government initiatives to ensure safety and security on roads are responsible for the expansion of the automotive telematics market. Navigation systems and dynamic displays can help to make roads more flexible and reduce travel time. Smartphone-based apps that provide real-time information to public transport passengers are also becoming more popular in many parts of the globe. This will play an important role in the future growth of public transport.

Regional Insights

With a market share exceeding 40%, North America was the dominant market place in 2020. This region is a hub for technology innovation and aggressive implementation of new technologies such as big data, machine learning, cloud computing, IoT, and cloud computing. Major global market players are also found in the region. Intelligent transportation systems are being adopted because of the strong focus that various governments in the region place on improving their transportation infrastructure. In response to increasing traffic and subsequent congestions, a number of public-private collaborations are being made in North America to implement intelligent transportation systems.

However, technological advancements and the expansion of transport networks will drive Asia Pacific's ITS market growth. In countries like Japan, India, China and China, the economic benefits of ITS deployment are especially notable. Intelligent transportation systems can not only reduce travel times and congestion, but they also provide monetary benefits for vehicle owners through a reduction in fuel consumption. Automobile manufacturers from both developed and developing countries are integrating these systems into their future models.

Market Share Insights & Key Companies

Market players are investing heavily in research and development activities. They also invest in improving their internal processes and actively engage in new product development. To develop innovative products and increase their market share, they are also looking at strategic partnerships and mergers and acquisitions. DENSO CORPORATION partnered in January 2021 with Aeva, a company that develops LiDAR and perception system for autonomous vehicles. This partnership was to develop sensing systems and perception systems. Two companies will develop Frequency Modulated Continuouswave (FMCW), LiDARs that can help measure the vehicle's velocity and reflectivity.

To drive organic growth, market players invest heavily in research and development. Hitachi, Ltd., for example, introduced an automated parking brake (APBHD) that is heavy-duty and can be used on vans, SUVs, pickup trucks, and light commercial cars in October 2020. This new system improves APB safety, system management, and extends the use of this technology. The following are some of the major players in the global intelligent transport system market:

• 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

Up Market Research published a new report titled “Intelligent Transportation System Market research report which is segmented by Type (ATMS, ATPS, APTS, EMS, ATIS), By Players/Companies Kapsch TrafficCom, DENSO CORPORATION, TransCore, Lanner, Nuance Communications Inc, Recardo, Xerox Corporation, TomTom International BV, Siemens AG, Iteris Inc, Agero Inc, Thales Group, Telenav Inc, Hitachi Ltd, EFKON GmbH, Q-Free ASA, Addco, Sensys Networks Inc, Garmin Ltd”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Intelligent Transportation System Market Report Segments:

The market is segmented by Type (ATMS, ATPS, APTS, EMS, ATIS).

Intelligent Transportation System Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Intelligent Transportation System Market

Overview of the regional outlook of the Intelligent Transportation System Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Intelligent Transportation System Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Intelligent Transportation System Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. ATMS

                2. ATPS

                3. APTS

                4. EMS

                5. ATIS

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Intelligent Transportation System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Intelligent Transportation System Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.