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

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Feb 19, 2024, 10:45 ET

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

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