The Intelligent Transportation Systems (ITS) market size reached $18.96 billion in 2022, according to a new report by GlobalData Plc. The growing focus on building sustainable transportation networks coupled with rapid development of smart cities are the factors contributing to the market growth. Several governments worldwide are focused on upgrading the transportation system by leveraging the power of advanced technologies such as AI, IoT, deep learning, 5G, and edge computing. This is encouraging new startups to capitalize on the growth opportunity in the in the transportation space, which is anticipated to drive market growth.
Global Intelligent Transportation Systems Market Share, by System Type, 2019 – 2026 (%)
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Intelligent Transportation Systems (ITS) Market FAQs
- What was the intelligent transportation systems (ITS) market size in 2022?
The intelligent transportation systems (ITS) market size was $18.96 billion in 2022.
- What will be the intelligent transportation systems (ITS) market CAGR during 2023-2026?
The intelligent transportation systems (ITS) market will grow at a CAGR of 8.6% during 2023-2026.
- Which are the key segments of intelligent transportation systems (ITS) market?
The key segments of intelligent transportation systems (ITS) market are classified based on system type, region, and application.
- Who are the leading players in intelligent transportation systems (ITS) market?
Garmin Ltd, Advantech Co Ltd, Iteris Inc, Kapsch TrafficCom AG, TomTom NV, Agero Inc, Thales SA, TeleNav, Inc, Xerox Corp, Cubic Transportation Systems Inc, Lanner Electronics Inc are some of the leading intelligent transportation systems (ITS) market players. - Which region will dominate the intelligent transportation systems (ITS) market?
Asia-pacific will dominate the intelligent transportation systems (ITS) market.
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Intelligent Transportation Systems (ITS) Market Dynamics
Several automotive companies are introducing some autonomous features such as lane-keeping assistance, adaptive cruise control, and parking assist in their vehicles. Additionally, autonomous vehicles are expected to be significant enablers for Mobility on Demand (MOD), which facilitates fewer cars on road and reducing driver hours by providing traffic congestion information. Such level of autonomy is achieved through the integration of transport infrastructure and vehicles. As such, the development of autonomous vehicles and ITS solutions go hand in hand and is key to ITS market growth.
Intelligent transportation systems collect massive amount of data from various transport infrastructure. High speed network connectivity and fast data processing is essential to generate real-time output. The emergence of 5G networks and increasing edge deployments are further expected to fuel the adoption of ITS solutions.
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Intelligent Transportation Systems (ITS) Market Report Highlights
- The global intelligent transportation systems (ITS) market is projected to witness a CAGR of 8.6% from 2023 to 2026. Increasing deployment of ITS solutions for traffic control and road safety applications is expected to fuel the market growth.
- The advanced traveller information systems (ATIS) type segment is expected to exhibit a steady growth over the forecast period. The growth of this segment is attributed to the increasing focus on providing travelers with route guidance and multi-modal trip planning services is anticipated to drive the growth of this segment.
- Freight management, road safety and security, and road tolling systems are segments that are expected to register a significant growth over the forecast period. Increasing e-commerce deliveries, road traffic, and outdated tolling systems are expected to contribute to the growth of these segments.
- The Asia Pacific is one of the leading markets for ITS solutions accounting for more than 20% of the overall market in 2022. Increasing focus on smart city development coupled with rising urbanization are some of the factors contributing to market growth in this region.
- Key players in the ITS market analyzed as part of this report are TomTom NV, Hitachi Ltd., Thales SA, Kapsch TrafficCom AG, Garmin Ltd., Yunex Traffic, Conduent Inc., Cubic Transportation Systems Inc, and Telenav Inc, among others.
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Intelligent Transportation Systems (ITS) Market Segments
Intelligent Transportation Systems (ITS) Service Outlook (Revenue, USD Million, 2023-2026)
- Advanced Traffic Management Systems (ATMS)
- Advanced Traveler Information System (ATIS)
- Advanced Public Transportation System (APTS)
- Advanced Transportation Pricing System (ATPS)
- Commercial Vehicle Operations (CVO) system
- Others
Intelligent Transportation Systems (ITS) Application Outlook (Revenue, USD Million, 2023-2026)
- Intelligent Traffic Control
- Road Safety & Security
- Freight Management
- Public Transport
- Environment Protection
- Automotive Telematics
- Parking Management
- Road Tolling Systems
- Others
Intelligent Transportation Systems (ITS) Regional Outlook (Revenue, USD Million, 2023-2026)
- North America
-
- US
- Canada
- Mexico
- Europe
-
- UK
- Germany
- France
- Netherlands
- Italy
- Spain
- Denmark
- Austria
- Sweden
- Rest of Europe
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Rest of Asia Pacific
- Central & South America
-
- Brazil
- Argentina
- Rest of Central & South America
- Middle East & Africa
-
- Saudi Arabia
- South Africa
- United Arab Emirates (UAE)
- Rest of Middle East & Africa
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Table of Contents
- Executive Summary
1.1. Intelligent Transportation Systems (ITS) Market Snapshot, 2019-2026
- Research Scope & Segmentation
2.1. Intelligent Transportation Systems (ITS): Market Segmentation and Scope
2.2. Market & Segment Definitions
- Market Overview & Industry Analysis
3.1. Value Chain Analysis
3.2. Market Drivers & Challenges
3.3. Porters Five Forces Model
3.4. Technology Trends
3.5. Regulatory Trends
3.6. Intelligent Transportation Systems – Use Cases
3.7. Role of IoT in Intelligent Transportation Systems
- Intelligent Transportation Systems (ITS) Revenue Opportunity & Forecast
4.1. Global ITS Market Size & Forecasts, by System Type, 2019-2026 ($ Mn)
4.2. Global ITS Market Size & Forecasts, by Application, 2019-2026 ($ Mn)
- Intelligent Transportation Systems (ITS) Revenue Opportunity & Forecasts by Region
5.1. North America ITS Market Size & Forecasts, 2019-2026 ($ Mn)
5.2. Europe ITS Market Size & Forecasts, 2019-2026 ($ Mn)
5.3. South & Central America ITS Market Size & Forecasts, 2019-2026 ($ Mn)
5.4. Asia Pacific ITS Market Size & Forecasts, 2019-2026 ($ Mn)
5.5. Middle East & Africa ITS Market Size & Forecasts, 2019-2026 ($ Mn)
- Competitive Landscape
6.1. Vendor Growth Innovation Matrix
6.2. Mergers and Acquisitions
6.3. Company Profiles
6.3.1. Overview
6.3.2. Financial Performance
6.3.3. Recent Developments & Innovations
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