Intelligent transportation systems technologies focus on innovations that advance transportation safety, mobility and environmental sustainability. Successful ITS deployments involve integrated applications among infrastructure, vehicles and travelers and their communications. The enabling technologies include control and information technologies. ITS solutions are deployed through a variety of hardware devices, including traffic sensors, cameras, vehicle control units, and communication networks. ITS technologies are designed to provide enhanced traffic management and safety for drivers, passengers, roadside workers, and pedestrians.
Market Dynamics:
Government initiatives are expected to drive growth of the global intelligent transportation systems market. The governments are collaborating with the private partners to take active measures towards minimizing traffic congestion. The rising investments by governments for building efficient transport systems is also driving growth of the market.
However, complexity of interoperability between control unit and user, and high cost are the factors anticipated to hinder growth of the global intelligent transportation systems market over the forecast future.
Key features of the study:
- This report provides in-depth analysis of the global intelligent transportation systems market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global intelligent transportation systems market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Siemens AG, Ricardo, Thales SA, Indra Sistemas, S.A., Kapsch TrafficCom AG, Teledyne FLIR LLC, and Garmin Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global intelligent transportation systems market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global intelligent transportation systems market
Detailed Segmentation:
- Global Intelligent Transportation Systems Market, By Functionality Type:
- Advanced Traffic Management System (ATMS)
- Advanced Traveler Information System (ATIS)
- Advanced Transportation Pricing System (ATPS)
- Advanced Public Transportation System (APTS)
- Others
- Global Intelligent Transportation Systems Market, By Offering:
- Hardware
- Software
- Service
- Global Intelligent Transportation Systems Market, By Component:
- Telecommunication Networks
- Sensors
- Interface Boards
- Monitoring and Detection System
- Surveillance Camera
- Global Intelligent Transportation Systems Market, By Deployment:
- Global Intelligent Transportation Systems Market, By Application:
- Traffic Management
- Road Safety
- Freight Management
- Parking Management
- Toll Management
- Global Intelligent Transportation Systems Market, By Software:
- Visualization Software
- Video Detection Management Software
- Transit Management Software
- Others
- Global Intelligent Transportation Systems Market, By Service:
- Business and Cloud Service
- Support and Maintenance Service
- Global Intelligent Transportation Systems Market, By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company profiles:
- Siemens AG
- Thales SA
- Kapsch TrafficCom AG
- Garmin Ltd.
- Teledyne FLIR LLC
- Indra Sistemas, S.A.
- Ricardo
