Global Intelligent Transportation Systems (ITS) Market Outlook, 2029

The Global Intelligent Transportation Systems (ITS) Market is estimated at USD 67.2 billion in 2032 , driven by Rising traffic congestion.

According to publisher, Global Intelligent Transportation Systems (ITS) Market Report The Global Intelligent Transportation Systems (ITS) market is on a fast track to growth, offering a solution to ever-increasing traffic congestion and a push for smarter, greener cities. Market Insights: Market size: Estimates vary, but the global ITS market is expected to reach between USD 66.64 billion and USD 67.2 billion by 2032, with a Compound Annual Growth Rate (CAGR) ranging from 7.1% to 11.3%.

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Market Dynamics: Growth Drivers: Rising traffic congestion: Urbanization and increasing vehicle ownership are leading to gridlock in many cities. ITS offers solutions for smoother traffic flow, reducing economic losses. For instance, a McKinsey report estimates that congestion costs the US economy $100 billion annually. Demand for smart mobility: Connected and autonomous vehicles (CAVs) require an intelligent infrastructure to function effectively. ITS paves the way for CAV integration. Focus on safety and environment: ITS features like automatic speed enforcement and real-time traffic information contribute to road safety. Additionally, efficient traffic management reduces emissions. Restraints: High initial investment: Implementing and maintaining ITS infrastructure requires significant upfront costs, which might deter some cities or regions. Data security concerns: The vast amount of data collected by ITS systems raises cybersecurity challenges. Market Segments: By Application: Roadway segment holds the largest market share due to high investments in traffic management solutions like adaptive traffic control systems. (e.g., Nairobi Intelligent Transport System project valued at USD 57.1 million) Public transport management is another growing segment, with solutions for real-time tracking and passenger information. By Technology: Traffic management systems dominate due to their widespread use in congestion control and route optimization. Advanced technologies like V2X communication (vehicle-to-everything) are gaining traction, enabling real-time data exchange between vehicles and infrastructure. Regional Analysis: Asia Pacific is expected to be the fastest-growing market due to rapid urbanization and government initiatives for smart city development. North America and Europe are well-established markets with a focus on advanced ITS solutions.

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Manmayi Raval

Manmayi Raval

Research Consultant

Key Developments: Governments worldwide are increasingly investing in ITS projects. For example, the European Union has allocated significant funds to initiatives like the Single European Sky ATM Research (SESAR) program for smarter air traffic management. Mergers and acquisitions are consolidating the market. In 2022, Siemens acquired a majority stake in ride-hailing app Via, showcasing the convergence of ITS and new mobility solutions. Competitive Landscape: The market is a mix of established technology giants and niche players. Major players include Siemens AG, Hitachi Ltd., Conduent Incorporated, Cubic Corporation, and Kapsch TrafficCom AG. Competition is intensifying with the entry of new players focused on specific ITS segments like CAV technology or data analytics. Conclusion: The ITS market presents a significant growth opportunity with the increasing need for efficient and sustainable transportation systems. As technology advances and costs become more manageable, ITS is poised to revolutionize the way we move around our cities.

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Manmayi Raval

Table of Contents

  • Table Of Contents
  • Figures And Tables
  • Part 1. Introduction
  • 1.1 Description
  • 1.2 Objectives Of The Study
  • 1.3 Market Segment
  • 1.4 Years Considered For The Report
  • 1.5 Currency
  • 1.6 Key Target Audience
  • Part 2. Research Methodology
  • 2.1 Primary Research
  • 2.2 Secondary Research
  • Part 3. Executive Summary
  • Part 4. Market Overview
  • 4.1 Introduction
  • 4.2 Drivers
  • 4.3 Restraints
  • Part 5. Global Intelligent Transportation Systems Market By Offering
  • 5.1 Hardware
  • 5.2 Software
  • 5.3 Service
  • Part 6. Global Intelligent Transportation Systems Market By Functionality Type
  • 6.1 Advanced Traffic Management System (Atms)
  • 6.2 Advanced Traveller Information System (Atis)
  • 6.3 Advanced Transportation Pricing System (Atps)
  • 6.4 Advanced Public Transport System (Apts)
  • 6.5 Others
  • Part 7. Global Intelligent Transportation Systems Market By Application
  • 7.1 Traffic Management
  • 7.2 Road Safety
  • 7.3 Freight Management
  • 7.4 Parking Management
  • 7.5 Toll Management
  • Part 8. Global Intelligent Transportation Systems Market By Region
  • 8.1 North America
  • 8.2 Europe
  • 8.3 Asia-Pacific
  • 8.4 Mea (Middle East And Africa)
  • 8.5 Latin America
  • Part 9. Company Profiles
  • 9.1 Aecom Technology Corporation
  • 9.2 Agero, Inc.
  • 9.3 Citilog Sa
  • 9.4 Conduent, Inc.
  • 9.5 Cubic Corporation
  • 9.6 Denso Corporation
  • 9.7 Efkon Gmbh
  • 9.8 Garmin Ltd.
  • 9.9 Hitachi, Ltd.
  • 9.10 Indra Sistemas, S.A.
  • 9.11 Iteris, Inc.
  • 9.12 Kapsch Trafficcom Ag
  • 9.13 Q-Free Asa
  • 9.14 Redflex Holdings Limited
  • 9.15 Ricardo Plc
  • 9.16 Siemens Ag
  • 9.17 Singapore Technologies Engineering Ltd.
  • 9.18 Swarco Holding Ag
  • 9.19 Teledyne Flir Llc
  • 9.20 Telenav, Inc.
  • 9.21 Thales S.A.
  • 9.22 Tomtom International B.V.
  • 9.23 Transcore, Inc.
  • 9.24 Transmax Pty Ltd.
  • Disclaimer

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Global Intelligent Transportation Systems (ITS) Market Outlook, 2029

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