About Intelligent Transport Systems
The increasing number of mega cities and the population growth have increased the importance of deploying an intelligent transport system. Intelligent transportation system is an advance application used to provide innovative services relating to different mode of transport and traffic. ITS system constitutes road transport and an efficient metro/underground rail system.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 5.25% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Players having a strong hold in the market are Transcore Inc, Kapsch Trafficcom AG, Efkon AG, Q-Free, Thales Group. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Intelligent Transport Systems market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Garmin (United States), Transcore (United States), Iteris (United States), Cubic Transportation Systems (United States), Xerox Corporation (United States), Addco LLC (United States), Flir Systems (United States), Kapsch Trafficcom (Austria), Thales (France), Q-Free (Norway), Siemens (Germany), Hitachi, Ltd. (Japan), Efkon (Austria) and Denso (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Ricardo (United Kingdom), Lanner Electronics (Taiwan) and Tomtom International (Netherlands).
Segmentation Overview
AMA Research has segmented the market of Global Intelligent Transport Systems market by Type (Advanced Traffic Management System, Advanced Traveler Information System, Advanced Vehicle Control System, Commercial Vehicle Operation and Advanced Public Transportation System), Application (Traffic Management, Road Safety and Surveillance, Freight Management, Public Transport, Environment Protection, Automotive Telematics, Parking Management, Road User Charging and Automated Vehicles) and Region.
On the basis of geography, the market of Intelligent Transport Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Protocol, the sub-segment i.e. Short Range will boost the Intelligent Transport Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Developments of Intelligent Transportation Systems and Advanced Traffic Congestion Solutions
Market Growth Drivers:
Rising Concerns Toward Protecting Environment With Eco-friendly Automobile Technology, Increasing Traffic Congestion Problem and Rising Concerns Regarding Security and Surveillance
Challenges:
Achieving Inter operable, Slow Growth in Infrastructure Sector and High Installation Cost
Opportunities:
Designing and Developing Smart Vehicle Compatible with ITS
Market Leaders and their expansionary development strategies
In November 2022, Hisense Plans to Acquire Siemens Intelligent Traffic Systems. The acquisition of Siemens ITS, therefore, will bring more opportunities for its overseas expansion.
In September 18, 2023, The Saudi Communication, Space and Technology Commission (CST) has released a comprehensive roadmap outlining the strategic approach for utilizing the 5.9 GHz Band in Vehicle-to-Everything (V2X) technology within the Kingdom’s transport sector. This roadmap reflects CST’s commitment to providing the necessary frequency spectrum to support this technology and stay at the forefront of intelligent transportation systems.
Key Target Audience
Component and equipment suppliers, Original equipment manufacturers (OEMs), Original design manufacturers (ODMs), Automotive Industry, Installers and maintenance service providers, Government and Research organizations, Component integrator and Technology providers
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.