Global Intelligent Transportation Systems (ITS) Strategic Business Report 2024: Market to Reach $52.6 Billion by 2030 - Increasing Number of Mega Cities Favors Future Growth

DUBLIN, Feb. 19, 2024 /PRNewswire/ -- The "Intelligent Transportation Systems (ITS) - Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

Global Intelligent Transportation Systems (ITS) Market to Reach $52.6 Billion by 2030

The global market for Intelligent Transportation Systems (ITS) estimated at US$27.4 Billion in the year 2022, is projected to reach a revised size of US$52.6 Billion by 2030, growing at a CAGR of 8.5% over the analysis period 2022-2030.

Advanced Traffic Management System (ATMS), one of the segments analyzed in the report, is projected to record a 9.1% CAGR and reach US$19.1 Billion by the end of the analysis period. Growth in the Advanced Traveler Information System (atis) segment is estimated at 7.1% CAGR for the next 8-year period.

The U.S. Market is Estimated at $10.7 Billion, While China is Forecast to Grow at 12.3% CAGR

The Intelligent Transportation Systems (ITS) market in the U.S. is estimated at US$10.7 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$6.2 Billion by the year 2030 trailing a CAGR of 12.3% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.3% and 7.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 7.7% CAGR.

What`s New?

• Special discussions on the global economic climate and market sentiment
• Coverage on global competitiveness and key competitor percentage market shares
• Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and research platform
• Complimentary updates for one year
• Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

MARKET OVERVIEW

• From Pandemic to War & Inflation: "Gloomy Outlook for 2023 Despite Signs of Easing Inflationary Conditions"
• Here's How Inflationary Pressures Affect the Economy
• Russia-Ukraine War, the Primary Culprit Responsible for the Hardships
• Although Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should Continue
• Here's What's Causing Inflationary Pressures in the Global Market
• Effect of the Pandemic on Transportation Industry
• COVID-19 Necessitates Profound Changes in Travel Patterns
• Pandemic Holds Hidden Opportunity for Intelligent Transportation System
• Pandemic Creates Need for Resilient Transportation System
• COVID-19 Brings Forth Need for Intelligent Transportation Systems amid Certain Limitations
• Competitive Scenario
• Select Innovations & Advancements
• Competitive Market Presence - Strong/Active/Niche/Trivial for 162 Players Worldwide in 2023 (E)
• 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
• 'ITS' as a Means for Ensuring Better Environment Quality
• Internet, X Ray and DSRC: The Key ITS Enablers
• Global Market Prospects & Outlook
• Developed Markets: Traditional Revenue Contributors for ITS Market
• Developing Markets to Turbo Charge Future Growth in the ITS Market
• Intelligent Transportation Systems (ITS): An Introduction
• Different Phases of ITS Application
• Broad Classification of Intelligent Transportation Systems
• In Vehicle Intelligent Transportation Systems: A Complimentary Review
• Recent Market Activity
• Select Global Brands

MARKET TRENDS & DRIVERS

• Market Scenario in a Nutshell
• 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
• 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
• Growing Investments in Road Infrastructure Development
• 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
• How Intelligent Transportation Systems Benefits Smart Cities?
• 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
• Amalgamation of Technologies Key to Success of ITS
• 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

FOCUS ON SELECT PLAYERS (Total 162 Featured)

• Cisco Systems, Inc.
• Advantech Co., Ltd.
• Axis Communications AB
• Aselsan A.S.
• Applied Information, Inc.
• Activu Corporation
• Bentley Systems, Inc.
• Cellint Traffic Solutions
• Atkins
• China ITS (Holdings) Co., Ltd.
• Aptiv PLC
• Atlantia SpA
• BestMile SA
• Beijing Wanji Technology
• Busmatick Group

For more information about this report visit https://www.researchandmarkets.com/r/kv9s2

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected] 
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets