The impressive ITS market growth at a remarkable 13.4% will lead the market to a US$ 170.94 billion mark by 2034 from US$ 48.61 billion measured in 2024.
Attributes | Key Insights |
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Estimated Market Size in 2024 | US$ 48.61 billion |
Projected Market Value in 2034 | US$ 170.94 billion |
Value-based CAGR from 2024 to 2034 | 13.4% |
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The intelligent transport system market size propelled at a CAGR of 12.3% to reach US$ 42.87 billion from US$ 26.98 billion during the historical period.
Enhancing the transportation network was the main aim of the historical period. During this period, traffic congestion management using ITS solutions was refined. Consequently, this supported the ITS market growth.
Technological innovation is another key factor fueling the intelligent transport system market size. Including AI, IoT, and other technological developments led to the foundation of the ITS market growth.
Historical CAGR from 2019 to 2023 | 12.3% |
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Forecast CAGR from 2024 to 2034 | 13.4% |
The forecasted period will be influenced by the inclusion of autonomous vehicles. The transportation systems will be revolutionized due to AVs, fueling the prosperous future of intelligent transportation systems.
Smart city development is another key fueling factor that will likely enhance the intelligent transport system market size. Due to the requirement for enhanced traffic congestion management using ITS solutions in smart cities, AI is embedded in ITS. The role of artificial intelligence in intelligent transportation systems is to deliver predictive analysis, fueling the proactive maintenance of systems.
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The growing population surges demand for efficient transport, burdening the traffic system. Asia observes a significant spike in its population; hence, the region provides a lucrative growth landscape for the ITS market growth. The future of intelligent transportation systems will likely be propelled in the Asia-Pacific region.
Europe follows extreme traffic discipline, surging the applications of intelligent transport systems. The region focuses on embedding systems in its traditional traffic monitoring systems, securing the future of intelligent transportation systems.
Being technologically advanced, North America identifies the role of artificial intelligence in intelligent transportation systems and emphasizes cybersecurity considerations for ITS infrastructure. Hence, it provides lucrative chances for the ITS market growth.
Forecast CAGRs from 2024 to 2034
Countries | Forecasted CAGR |
---|---|
Germany | 4.7% |
Japan | 5.6% |
Australia & New Zealand | 9.5% |
The United States | 11.3% |
China | 15.5% |
Germany registers the ITS market growth at a rate of 4.7%. The population density in urban areas of the country has been a main concern.
The current urban population density is 77.65%, which will continue to grow in the forecasted period, burdening traffic congestion management. Hence, this creates the demand for ITS solutions, forecasting the country's steady future of intelligent transportation systems.
Japan estimates a 5.6% spike in the intelligent transport system market size by 2034. The country hosts several global and political events like the Olympics, Paralympics, etc., and the traffic systems in the country are burdened.
Due to this, it requires efficient traffic congestion management using ITS solutions. Consequently, the demand for efficient solutions surges, ensuring ITS market growth.
Australia and New Zealand will likely register the ITS market progress at a promising CAGR of 9.5%. These countries are focused more on road safety initiatives. The political factor will likely drive the subject market.
Collision avoidance systems and intelligent speed adaptation are key government initiatives. Therefore, these factors ensure the ITS market growth.
The United States of America is, by far, the largest ITS market by its size. The country’s smart city initiatives are the main reason behind this. Also, it has efficiently identified and implemented the role of artificial intelligence in intelligent transportation systems.
Apart from this, applications of intelligent transport systems include carbon emission reduction, which ITS solutions support. Hence, the American market is driven at an impressive CAGR of 11.3%.
The growing population in China requires better infrastructure and transport systems. It is also coupled with the accelerated urbanization. Megacity projects and global projects, including Belt and Road initiatives, vastly govern the future of intelligent transportation systems.
The inclusion of 5G technology in this urbanization creates lucrative growth prospects for the ITS market. Thus, ITS market size promises to flourish at a staggering CAGR of 15.5%.
Category | Intelligent Traffic Management System |
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Market Share in 2024 | 15.9% |
Market Segment Drivers |
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Category | Roadways |
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Market Share in 2024 | 28.7% |
Market Segment Drivers |
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A large intelligent transport system market size provides a broader competitive landscape for key players. Most marketers implement traffic congestion management using ITS solutions as their key offering. However, including artificial intelligence in intelligent transportation systems augments their product portfolio.
The market expansion modes key players choose often include partnerships, collaborations, product innovation, etc. Acquisitions and partnerships in the ITS market are observed more, which yields positive results for the competitors.
Key Market Developments
Attributes | Details |
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Estimated Market Size in 2024 | US$ 48.61 billion |
Projected Market Valuation in 2034 | US$ 170.94 billion |
Value-based CAGR 2024 to 2034 | 13.4% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Value in US$ billion |
Key Regions Covered |
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Key Market Segments Covered |
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Key Countries Profiled |
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Key Companies Profiled |
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The intelligent transport system (ITS) market is estimated to progress at a CAGR of 13.4% through 2034.
The intelligent transport system (ITS) market will likely reach US$ 170.94 billion by 2034.
The intelligent transport system (ITS) market will attain a market size of US$ 48.61 billion in 2024.
The intelligent transport system (ITS) market's intelligent traffic management system segment will hold 15.9% of the market share in 2024.
The intelligent transport system (ITS) market's roadways segment will likely secure 28.7% of the market space in 2024.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Systems 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Systems, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Systems, 2024 to 2034 5.3.1. Intelligent Traffic Management Systems 5.3.2. Traffic Enforcement Systems 5.3.3. Passenger Information Systems 5.3.4. Vehicle Tracking Systems 5.3.5. Emergency Vehicle Warning Systems 5.3.6. Smart Parking Systems 5.3.7. Vessel Tracking Systems 5.3.8. Others 5.4. Y-o-Y Growth Trend Analysis By Systems, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Systems, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Application, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application, 2024 to 2034 6.3.1. Roadways 6.3.2. Railways 6.3.3. Airways 6.3.4. Seaways/Marine 6.4. Y-o-Y Growth Trend Analysis By Application, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Application, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023 7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034 7.3.1. North America 7.3.2. Latin America 7.3.3. Western Europe 7.3.4. Eastern Europe 7.3.5. South Asia and Pacific 7.3.6. East Asia 7.3.7. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Systems 8.2.3. By Application 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Systems 8.3.3. By Application 8.4. Key Takeaways 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Systems 9.2.3. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Systems 9.3.3. By Application 9.4. Key Takeaways 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. UK 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Western Europe 10.2.2. By Systems 10.2.3. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Systems 10.3.3. By Application 10.4. Key Takeaways 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Poland 11.2.1.2. Russia 11.2.1.3. Czech Republic 11.2.1.4. Romania 11.2.1.5. Rest of Eastern Europe 11.2.2. By Systems 11.2.3. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Systems 11.3.3. By Application 11.4. Key Takeaways 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Bangladesh 12.2.1.3. Australia 12.2.1.4. New Zealand 12.2.1.5. Rest of South Asia and Pacific 12.2.2. By Systems 12.2.3. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Systems 12.3.3. By Application 12.4. Key Takeaways 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Systems 13.2.3. By Application 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Systems 13.3.3. By Application 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Systems 14.2.3. By Application 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Systems 14.3.3. By Application 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2023 15.1.2.1. By Systems 15.1.2.2. By Application 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2023 15.2.2.1. By Systems 15.2.2.2. By Application 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2023 15.3.2.1. By Systems 15.3.2.2. By Application 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2023 15.4.2.1. By Systems 15.4.2.2. By Application 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2023 15.5.2.1. By Systems 15.5.2.2. By Application 15.6. UK 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2023 15.6.2.1. By Systems 15.6.2.2. By Application 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2023 15.7.2.1. By Systems 15.7.2.2. By Application 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2023 15.8.2.1. By Systems 15.8.2.2. By Application 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2023 15.9.2.1. By Systems 15.9.2.2. By Application 15.10. Poland 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2023 15.10.2.1. By Systems 15.10.2.2. By Application 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2023 15.11.2.1. By Systems 15.11.2.2. By Application 15.12. Czech Republic 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2023 15.12.2.1. By Systems 15.12.2.2. By Application 15.13. Romania 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2023 15.13.2.1. By Systems 15.13.2.2. By Application 15.14. India 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2023 15.14.2.1. By Systems 15.14.2.2. By Application 15.15. Bangladesh 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2023 15.15.2.1. By Systems 15.15.2.2. By Application 15.16. Australia 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2023 15.16.2.1. By Systems 15.16.2.2. By Application 15.17. New Zealand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2023 15.17.2.1. By Systems 15.17.2.2. By Application 15.18. China 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2023 15.18.2.1. By Systems 15.18.2.2. By Application 15.19. Japan 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2023 15.19.2.1. By Systems 15.19.2.2. By Application 15.20. South Korea 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2023 15.20.2.1. By Systems 15.20.2.2. By Application 15.21. GCC Countries 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2023 15.21.2.1. By Systems 15.21.2.2. By Application 15.22. South Africa 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2023 15.22.2.1. By Systems 15.22.2.2. By Application 15.23. Israel 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2023 15.23.2.1. By Systems 15.23.2.2. By Application 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Systems 16.3.3. By Application 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Thales Group AD 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.2. Siemens AG 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.3. Garmin Ltd. 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.4. Kapsch Trafficcom 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.5. Tomtom International BV 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.6. Q-Free ASA 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.7. Denso Corporation 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.8. Atkins Group 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.9. Iteris Inc. 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.10. Ricardo PLC 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.11. Efkon AG 17.1.11.1. Overview 17.1.11.2. Product Portfolio 17.1.11.3. Profitability by Market Segments 17.1.11.4. Sales Footprint 17.1.11.5. Strategy Overview 17.1.11.5.1. Marketing Strategy 17.1.12. Savari Inc. 17.1.12.1. Overview 17.1.12.2. Product Portfolio 17.1.12.3. Profitability by Market Segments 17.1.12.4. Sales Footprint 17.1.12.5. Strategy Overview 17.1.12.5.1. Marketing Strategy 17.1.13. Transcore LP 17.1.13.1. Overview 17.1.13.2. Product Portfolio 17.1.13.3. Profitability by Market Segments 17.1.13.4. Sales Footprint 17.1.13.5. Strategy Overview 17.1.13.5.1. Marketing Strategy 17.1.14. Lanner Electronics Inc. 17.1.14.1. Overview 17.1.14.2. Product Portfolio 17.1.14.3. Profitability by Market Segments 17.1.14.4. Sales Footprint 17.1.14.5. Strategy Overview 17.1.14.5.1. Marketing Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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