Intelligent Transportation System Market Size, Share & Trends Analysis Report By Type (ATIS, ATMS, ATPS, APTS, EMS), By Application, By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global intelligent transportation system market size was valued at USD 25,378.2 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2021 to 2028. The growing demand for traffic control solutions, the rising demand for smart vehicles integrated with the latest telecommunications technology, and the improved safety and surveillance offered by modern cameras and License Plate Recognitions (LPRs) are expected to drive the growth of the market. The growing number of vehicles on road, aging infrastructure, and a looming lack of traffic data management are some of the other factors that are anticipated to contribute to the growth of the market. The eminent need to efficiently manage the traffic flow across city corridors and highways has triggered the need for an alternative traffic management technology. As such, transportation authorities are looking forward to utilizing innovative and advanced data analytics technologies to address the issue of growing traffic.

然而,COVID-19流行病的爆发taken a severe toll on new intelligent transportation system (ITS) sales and installations. Several major system manufacturers have suspended their operations temporarily due to disruptions in the supply chain and the shortage of components. Nevertheless, the existing ITS solutions installed across the globe are being used aggressively. Although the efforts undertaken by both private and public entities have been successful by varying measures, the implementation of smart technologies has demonstrated the role of technology in shaping the future.

The lockdowns, border closures, and other restrictions imposed by various governments in different parts of the world as part of the efforts to arrest the spread of coronavirus have taken a severe toll on supply chains. Manufacturing and assembling units have also been closed temporarily. On the other hand, the ongoing transportation projects are getting delayed owing to the shortage of manpower. At this juncture, the ITS ecosystem, which relies significantly on electronics and telecommunications, is projected to witness a potential slowdown, particularly due to supply chain disruptions; and a downturn in the deployment of smart transportation systems seems inevitable in the short term.

A typical ITS leverages a set of sensors, video surveillance devices, navigation systems, and vehicle probes to collect real-time data, which is then analyzed and communicated to the user via the internet, mobile telephony, or dynamic signboards. As such, ITS can be equally used for rail, road, water, and air transport. Advances in sensing and telecommunications technologies are particularly expected to encourage the adoption of ITS over the forecast period. On the other hand, the growing preference for implementing an ITS is emerging as one of the key factors prompting the digitization of various attributes of the transportation infrastructure ecosystem.

The deployment of ITS to reduce road accidents and enhance road safety is a major factor driving the growth of the intelligent transportation system market. 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. Continued developments in the transportation industry have triggered the need for an efficient transportation system that can potentially improve road networks. At the same time, advances in technologies, such as blind-spot detection and electronic toll collection, have redefined the expectations and prospects of sustainable transportation and traffic management.

The increasing number of vehicles on the road and the subsequent frequent traffic congestions are also necessitating the deployment of advanced traffic management systems. These systems can potentially help in reducing the travel duration while ensuring efficient traffic management. Advanced traffic management systems can also enable authorities and public safety agencies to respond to accidents and emergencies rapidly and efficiently.

Type Insights

The Advanced Traffic Management System (ATMS) segment accounted for a market share of over 30% in 2020. Solutions offered by the key market players can combine data processing technology with sensing and telecommunications technologies to ensure real-time management of transportation networks and share the information gathered and processed with drivers and travelers. The increasing number of vehicles on the road and the subsequent frequent traffic congestions are also necessitating the deployment of advanced traffic management systems. These systems can potentially help in reducing the travel duration while ensuring efficient traffic management. Advanced traffic management systems can also enable authorities and public safety agencies to respond to accidents and emergencies rapidly and efficiently.

The Advanced Public Transportation System (APTS) segment is anticipated to register considerable growth over the forecast period. APTS provides enhanced visibility into the overall timeliness of buses and trains. As several individuals avail public transportation facilities, any aggressive investments in real-time information systems can potentially help in sharing real-time information about the buses and trains with commuters.

Application Insights

The traffic management segment accounted for the largest market share of over 30% in 2020. Traffic management systems enhance the reliability and operational performance of road networks. These systems may typically include vehicle detection systems, bridge traffic management systems, and ramp metering systems, among other systems. Frequent traffic congestions often culminate in significant monetary losses stemming from the increase in travel time and the growth in fuel consumption. Traffic congestions also take a severe toll on the economic and socio-economic growth of a country. Hence, government bodies across different parts of the world are putting a strong emphasis on implementing traffic management systems as part of the efforts to reduce the financial burden on governments.

On the other hand, the growth of the automotive telematics segment can be attributed to the initiatives being pursued by government bodies for ensuring safety and security on roads. Dynamic displays and navigation systems can potentially help in operating road networks flexibly and reducing travel time. Similarly, smartphone-based applications used to provide real-time information to passengers using public transport are also gaining popularity in several parts of the world. This is expected to play a vital role in driving the growth of the public transport segment over the forecast period.

Regional Insights

North America dominated the global market in 2020 with a market share of over 40%. The region is considered a technology hub for the development and aggressive implementation of the latest, advanced technologies, such asmachine learning,big data,cloud computing, andIoT. The region is also home to major global market players. The strong emphasis various governments in the region are putting on improving transportation infrastructure is driving the adoption of intelligent transportation systems. Several public-private collaborative efforts to introduce intelligent transportation systems are materializing in various cities across North America in the wake of the increasing traffic and the subsequent traffic congestions.

另一方面,技术进步和continued expansion of transportation networks are expected to drive the growth of the ITS market in Asia Pacific. The economic benefits stemming from the deployment of ITS are particularly notable in countries, such as China, India, and Japan. Intelligent transportation systems not only help in avoiding congested routes and thus reducing travel time but also offer monetary benefits to vehicle owners by reducing the overall fuel consumption. Hence, automobile manufacturers in both developing and developed economies are aggressively integrating these systems in their upcoming models.

Key Companies & Market Share Insights

The market players are investing aggressively in research and development activities, improving internal processes, actively engaging in new product development, and improving their existing products as part of the efforts to increase their respective market shares. They are also focusing on strategic partnerships and mergers & acquisitions to develop technologically advanced products and gain a competitive edge in the market. For instance, in January 2021, DENSO CORPORATION partnered with Aeva, a developer of LiDAR and perception systems for autonomous vehicles, to develop sensing and perception systems. The partnership envisages the two companies developing Frequency Modulated Continuous Wave (FMCW) LiDAR that can potentially help in measuring the velocity and reflectivity of vehicles.

Market players are investing aggressively in research and development activities to drive organic growth. For instance, in October 2020, Hitachi, Ltd. introduced a heavy-duty automated parking brake (APB HD) specifically designed for vans, SUVs, pickup trucks, and light commercial vehicles. The new system facilitates APB safety and system management and allows extending the use of this technology to a broader extent. Some of the prominent players operating in the global intelligent transportation system market are:

• 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

Intelligent Transportation System Market Report Scope

Report Attribute	Details
Market size value in 2021	USD 26,748.6 million
Revenue forecast in 2028	USD 42,936.1 million
Growth rate	CAGR of 7.0% from 2021 to 2028
Base year for estimation	2020
Historical data	2018 - 2019
Forecast period	2021 - 2028
Quantitative units	Revenue in USD million and CAGR from 2021 to 2028
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Type, application, region
区域范围	North America; Europe; Asia Pacific; South America; MEA
Country scope	U.S.; Canada; Mexico; Germany; U.K.; France; China; India; Japan; South Korea; Brazil; Argentina; UAE; KSA
Key companies profiled	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.
Customization scope	Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2028. For the purpose of this study, Grand View Research has segmented the global intelligent transportation system market report based on type, application, and region:

• Type Outlook (Revenue, USD Million, 2018 - 2028)

  • Advanced Traveler Information System (ATIS)

  • Advanced Traffic Management System (ATMS)

  • Advanced Transportation Pricing System (ATPS)

  • Advanced Public Transportation System (APTS)

  • Emergency Medical System (EMS)

• Application Outlook (Revenue, USD Million, 2018 - 2028)

  • Traffic Management

  • Road Safety and Security

  • Freight Management

  • Public Transport

  • Environment Protection

  • Automotive Telematics

  • Parking Management

  • 公路收费系统

• Regional Outlook (Revenue, USD Million, 2018 - 2028)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • 南美

    • Brazil

    • Argentina

  • MEA

    • UAE

    • KSA