Intelligent Transportation System Market to Reach $102,617.3 Million by 2030, Says P&S Intelligence

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Oct 19, 2022, 10:20 ET

NEW YORK, Oct. 19, 2022 /PRNewswire/ -- According to the latest market research report published by P&S Intelligence, in 2021, the intelligent transportation system market accounted for revenue of $42,780.0 million, which is predicted to hit $102,617.3 million, progressing at a 10.2% compound annual growth rate from 2021 to 2030. This is because of the growing requirement to improve traffic flow and safety and the surging population worldwide, which is influencing the sale of automobiles.

During the forecast period, aviation is predicted to have the highest CAGR in the industry, because more aircraft are being moved. Thus, a higher need for efficient airline operations, improved surveillance and security measures, and usage of smart ticketing systems, due to the growing number of passengers, are arising.

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Key Points of Intelligent Transportation System Market Report

APAC is predicted to grow at a CAGR of almost 8% in the coming years. This rapid rise may be attributed to the fast urbanization in developing countries, primarily India and China, growing disposable income and bettering lifestyles, burgeoning automotive industry, and development of road infrastructure at a rapid pace.
Moreover, China holds the biggest share in the intelligent transportation system market of the region, and it will maintain its spot in the future. This will be due to the surging acceptance of innovative technologies, increasing count of daily commuters, and the initiatives of the government to decrease emissions.
In 2021, the services category had the biggest share, and it is expected to hold that position throughout this decade. This is a result of the rising need to improve the surface transportation efficiency and connectivity, which demands the appropriate upkeep of ITS equipment.
Additionally, in the coming years, the software category will grow at a high rate in the intelligent transportation system market. This is due to the rising demand for data processing, increasing pace of technological development, and growing popularity of ITS software and visualization software.
With a CAGR of 9%, the advanced public transportation system (APTS) category is predicted to advance at the highest rate throughout the forecast period. The increasing demand for APTS is due to the growing investment in real-time information collection and analysis for highways.
Advanced traffic management systems (ATMS) have the largest revenue share, and they will continue to dominate the intelligent transportation system market till 2030. This would be due to their extensive use on roads, rise in commuter and automobile numbers in cities, and growth in the public concern about pollution and traffic jams.

Browse detailed report on Intelligent Transportation System Market Size, Trends and Future Growth Study 2022-2030

There are numerous key players in the market, such as:

Teledyne FLIR LLC
DENSO Corporation
Garmin Ltd.
Indra Sistemas S.A.
Conduent Inc.
TomTom International BV
Cubic Corporation
Kapsch TrafficCom AG
Thales Group
Siemens AG

Intelligent Transportation System Market Report Coverage

By System

Advanced Traffic Management System
Cooperative Vehicle System
Advanced Public Transportation System
Advanced Traveler Information System
Advanced Transportation Pricing Systems

By Offering

Hardware

Interface boards
Sensors
Surveillance cameras
Telecommunication networks
Monitoring and detection systems

Software

Visualization software
Video detection management software
Transit management software

Services

Business and cloud services
Support and maintenance services

By Application

Roadways

Intelligent traffic control
Collision avoidance
Parking management
Passenger information management
Ticketing management
Emergency vehicle notification
Automotive telematics
Fleet management and asset monitoring

Railways

Rail-running operation and collision avoidance
Passenger information management
Smart ticketing
Security and surveillance
Emergency notification

Aviation

Security and surveillance
Shuttle bus tracking
Traveler information management
Smart ticketing
Aircraft management
Emergency notification

Maritime

Freight arrival and transit
Real-time weather information tracking
Container movement scheduling
Emergency notification

Regional Analysis

North America

U.S.
Canada

Europe

Germany
France
U.K.
Italy
Spain

Asia-Pacific

China
India
Japan
South Korea
Australia

Latin America

Brazil
Mexico

Middle East and Africa

Saudi Arabia
South Africa

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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P&S Intelligence
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