Global Intelligent Transportation Systems (ITS) Market Report 2022-2026 - Developing Markets to Turbo Charge Future Growth in the ITS Market

News provided by

Aug 23, 2022, 11:45 ET

DUBLIN, Aug. 23, 2022 /PRNewswire/ -- The "Intelligent Transportation Systems (ITS) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Intelligent Transportation Systems (ITS) Market to Reach $39.5 Billion by 2026

Global Intelligent Transportation Systems market is projected to register healthy growth over the near-to-long term. The market, estimated at US$27 Billion in 2022 is projected to reach US$49.5 Billion by 2026, registering a compounded annual growth rate (CAGR) of 8.8% over the analysis period.

With the help of advanced traffic monitoring systems, data is transmitted to the appropriate authorities for readying rescue teams on time and the motoring public to keep track of possible delays or dangers on the road via VMS (variable message signs), HAR (highway advisory radio) or broadcast radio traffic reports.

ITS, entailing the application of information, communication, sensor and control systems to improve surface transportation systems` performance, can be classified into areas that address different transportation requirements such as travel security, reliability, higher mobility and lowered traffic jams.

The technology comprises of traffic signal controls, electronic fare payment and constantly updated traveler data in conjunction with multimodal scheduling data. Superior navigation, communications, operations monitoring and data-collecting technologies are applied to improve the mobility, security and efficiency of transportation.

Traveler management systems help in easing congestion on roads and in significantly reducing the response times in case of emergencies. ITS for public transportation services aid in streamlining transit, enable transit firms in identifying the precise location of vehicles and ensuring safety of commuters.

The United States represents the largest regional market for Intelligent Transportation Systems, accounting for an estimated 39.1% share of the global total. The market, estimated at US$10.5 Billion in 2022 is projected to reach US$15.9 Billion by the close of the analysis period.

China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 14.2% over the analysis period. The market is expected to progress steadily to evolve as a major regional market for Intelligent Transportation Systems, supported by various factors conducive to healthy growth.

What`s New for 2022?

Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to the digital archives
Complimentary updates for one year

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Effect of the Pandemic on Transportation Industry
COVID-19 Necessitates Profound Changes in Travel Patterns
COVID-19 Holds Hidden Opportunity for Intelligent Transportation System
Pandemic Creates Need for Resilient Transportation System
COVID-19 Brings Fourth Need for Intelligent Transportation Systems amid Certain Limitations
Enabling Technologies
Different Phases of ITS Application
Segment Overview
Advanced Traffic Management Systems (ATMS)
Electronic Toll Collection Systems
Other Intelligent Transportation Systems
Public Vehicle Transportation Management Systems (PVTMS)
Commercial Vehicle Operations (CVO) Systems
Advanced Vehicle Information Systems (AVIS)
Understanding Load Tracking System
In Vehicle Intelligent Transportation Systems: A Complimentary Review
Passenger Vehicle Applications
Commercial Vehicle Applications
Adopting Alliance as a Growth Strategy
Outlook
Intelligent Transportation System: A Cornerstone Technology for Smart Transportation
ITS Empowering the Real Modern Day Transport Infrastructure
Rationale behind Installation of ITS
Key ITS Capabilities in a Capsule
Enhancing Efficiency & Economy of Transport Systems
Ensuring Safety & Security
Key Result Areas of ITS in Ensuring Safety
Internet, X Ray and DSRC: The Key ITS Enablers
A Disparate Market
Market Scenario
Developed Markets: Traditional Revenue Contributors for ITS Market
Developing Markets to Turbo Charge Future Growth in the ITS Market
Intelligent Transportation Systems (ITS) - Global Key Competitors Percentage Market Share in 2022 (E)
Transportation Management Systems Market Share Breakdown of Key Players: 2020E
Transportation Software Global Competitor Market Share Positioning for 2020E
Recent Market Activity
Select Innovations & Advancements
Global Brands of Select Region
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS (Total 161 Featured):

Accenture
Citilog SA
Conduent Business Services, LLC
Cubic Corporation
Denso Corporation
EFKON AG
emovis
FLIR Systems, Inc.
Hitachi Vantara Corporation
IBM Corporation
Image Sensing Systems Inc.
INIT Innovation in Traffic Systems SE
Intelight Inc.
Iteris, Inc.
ItraMAS Corporation Sdn Bhd
Kapsch TrafficCom AG
LeddarTech Inc.
Q-Free ASA
Siemens AG
SpeedInfo, Inc.
SWARCO AG
Telenav, Inc.
TransCore Holdings, Inc.

3. MARKET TRENDS & DRIVERS

As a Novel Platform Capable of Enabling Future-Proof Traffic Management, ITS Set to Widen its Addressable Market
Continued Rise in Vehicular Traffic and Need to Regulate Traffic Flow: A Business Case for ITS Investments
Breakdown of Annual Hours of Delay Due to Traffic Congestions in Select Countries & Cities Worldwide
Growing Number of Road Accidents and Need to Ensure on-Road Safety to Commuters Drives Business Case for ITS
Focus on Smart Highways and Smart Roads to Enhance ITS Deployments
The Growing Need to Bridge Infrastructure Gap Which is the Highest for Roadways Promises Robust Opportunity for Smart
Growing Investments in Road Infrastructure Development
Continuous Development of World's Highways to Expand Market Opportunities for ITS & Allied Markets
Heightened Focus on Integrating Diverse Technologies Set to Streamline ITS Landscape
Prevailing Technological Trends Fully Support Deployments of Large-Scale ITS
Rapid Urbanization Triggers Growth in the ITS Market
Increasing Number of Mega Cities Favors Future Growth
Major Global Cities Leading the Way in Deployment of Intelligent Transportation Systems
Growing Smart City Market to Drive Demand for ITS
Capabilities to Improve Logistics Drives Adoption of ITS
Growing Emphasis on Smart Transportation Widens Prospects
Smart Parking Technologies Come to the Fore to Address Parking Related Issues
Transformational Role of IoT Expands ITS Application Areas
Advanced In-Vehicle Infotainment Systems Render Support to ITS Networks
Public-Private Collaborations Support ITS Development
Government Policy Vis-a-vis ITS Projects: Critical for ITS Implementations
Private Sector Purchases Set to Increase
The Secret of Success of ITS Projects Lies in "Concept Selling"
Rapidly Evolving Role of Cellular Networks in ITS: A Major Ongoing Trend
5G to Widen the Role of Cellular Connectivity in ITS Ecosystem
Dynamic Roadside Signs for Providing Information about Truck Parking Space Availability
Super Intelligent Transport Systems Emerge to Redefine ITS Concept
Technology Developers & Authorities Seek to Bring Forward Interoperability Standards
Key Objective Areas of the Common Standards
Automated Electronic Toll Collection Makes its Way into the ITS Domain
Positive Outlook for ETC Systems Market
Growing Popularity of Road User Charging Brightens Market Prospects for ETC
Need to Avoid Lengthy Waiting Lines & Environmental Pollution at Toll Plazas Drives Demand
Innovation & Market Differentiation - Key Determinants for Success of ETC Projects
Lower Operational Costs of ETC Systems Enable Increased Acceptance
Smart Cards in Demand for ETC Systems
Cooperative ITS Promises to Change the Face of Urban Transportation
Europe Remains at the Forefront of C-ITS Efforts Worldwide
V2X Gains Notable Attention to Alleviate Traffic Concerns
Connected Vehicles Pave the Way for Wider Uptake of V2X Technologies
V2X Technology Improves Vehicle Telematics
ATMS Witness Greater Adoption
GSMA Issues Guidelines for Spectrum Considerations in ITS
Road Safety Cameras Augment ITS Capabilities
Role of Master Plans and Common Standards
Growing Data Volumes to Drive Use of Data Analytics in ITS
Using Open Data & Big Data to Improve ITS Services
Implications of Open Data in Designing ITS Services
Big Data Applications Raise Privacy Concerns in ITS
Protection for ITS Vital to Prevent Cyber Attacks
Key Issues to Reckon with
Potential Risks & Threats to Smart Vehicles and ITS Networks
Regional Differences in ITS Services Adoption Persist
Privacy Concerns
Low Awareness Levels on Benefits of ITS
Myths about Red Light Cameras Limits its Adoption