Market Overview:

The global intelligent transport systems market size reached US$ 37.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 63.8 Billion by 2027, exhibiting a growth rate (CAGR) of 9.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

The Intelligent Transport System (ITS) refers to a system that utilizes visual, analytical, control and communication technologies to manage different modes of on-road transportation efficiently. It is not only embedded within a vehicle but also in the infrastructure facilities to enhance on-road safety and achieve traffic efficiency by minimizing traffic problems. It uses various equipment such as ramp meters, electronic toll collectors, traffic light cameras, traffic-signal coordinators, transit signal systems and traveler-information systems.

The increasing number of smart cities, along with unprecedented population growth leading to widespread traffic congestion, are the key factors driving the market growth. The ITS significantly aids in the effective management of on-road traffic through Global Positioning System (GPS), Dedicated Short Range Communication (DSRC) and Carrier Access for Land Mobiles (CALM). Additionally, increasing occurrence of deaths due to road accidents have driven the demand for ITS across the globe. Advanced features such as Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) communication is creating a positive outlook for the market. These features provide real-time information to travelers about road conditions and construction zones, along with seat availability and timings of public modes of transport, thus enhancing the overall on-road safety and reducing the chances of fatalities while reducing the travel time. Moreover, increasing focus on research and development (R&D) in both the public and private sectors to incorporate more enhanced features is also contributing to the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global intelligent transport systems market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on mode of transport, product, protocol, offering and application.

Breakup by Mode of Transport:

• Roadways
• Railways
• Airways
   

Breakup by Product:

• Network Management Systems
  • Advanced Traffic Management Systems (ATMS) 
  • Road User Charging, Congestion Charging, etc.
• Freight and Commercial Systems
• Public Transport Systems
• Security and Crime Reduction Systems
• Automotive and Infotainment Systems
• Road Safety Systems
• Communications Systems
   

Breakup by Protocol:

• Short Range
  • Wave (IEEE 802.11)
  • Wpan (IEEE 802.15) 
• Long Range
  • Wimax (IEEE 802.11)
  • Ofdm
• IEEE 1512
• Traffic Management Data Dictionary (TMDD)
• Others
   

Breakup by Offering:

• Hardware 
  • Interface Board
  • Sensor
  • Surveillance Camera
  • Telecommunication Network
  • Monitoring and Detection System
  • Others
• Software
  • Visualization Software
  • Video Detection Management Software
  • Transit Management System
  • Others
• Services
  • Business and Cloud Services
  • Support and Maintenance Services
     

Breakup by Application:

• Fleet Management and Asset Monitoring
• Intelligent Traffic Control
• Collision Avoidance
• Parking Management
• Passenger Information Management
• Ticketing Management
• Emergency Vehicle Notification
• Automotive Telematics
   

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Middle East and Africa
• Latin America
   

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Siemens AG, Thales Group, Garmin Ltd., Cubic Corporation, FLIR Systems, Lanner Electronics, DENSO Corporation, International Business Machines (IBM) Corporation, ADDCO Acquisition, LLC, TomTom N.V., Kapsch TrafficCom AG, Iteris, Inc., Q-Free ASA, Efkon GmbH, GeoToll , Inc., ElectricFeel AG, Doublemap, LLC, BestMile Sarl, Aptiv PLC (nuTonomy), etc.

Report Coverage: