The integration of energy distribution & charging systems such as smart grids in ITS helps distribution agencies in real-time data utilizations to plan and implement capacity expansion strategies for the future. ITS cannot be put in place by a single stakeholder; instead, it requires collaboration between many different groups, such as user groups, manufacturers, service providers, public sector enterprises, and telecom operators, among others. This report also outlines the market trends of each segment and consumer behaviors impacting the Intelligent Transportation System (ITS) market and what implications these may have on the industry's future. In addition, the rising necessity for obtaining real-time information for improving the traffic management system by sharing required data with drivers and passengers also aid the growth of the ITS market. The third-party system, which is connected by network solutions, gets real-time information from software solutions about the vehicle's current location and any unplanned route changes that may have happened because of traffic or an accident. Intelligent Transportation System Market Overview: The Global Information Transport Systems market revenue is projected to grow at a CAGR of 9.31% during the forecast period 2022-2030 and reach USD 49 billion by 2030. List of TOP KEY PLAYERS in Intelligent Transportation System (ITS) Market Report are: -, Thales Group FLIR Systems, Inc. Siemens Cubic Corporation Garmin EFKON GmbH TomTom International BV Kapsch TrafficCom Denso Corporation Q-Free ASA Indra Sistemas, Get a Sample PDF of the Intelligent Transportation System (ITS) Market Report, Intelligent Transportation System (ITS) Market Analysis and Insights. Based on artificial intelligence video analytics, the solution uses the existing CCTV network on stations and onboard trains to offer real-time information on passenger density. Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the clients purchase. As of 2021, the market size of intelligent transportation in China amounted to 191.7 billion yuan, an increase of 15.6 percent year-on-year. Mar 13, 2023 (The Expresswire) -- Intelligent Transportation Systems Market Size 2023 | New Report (108 Pages . According to the World Economic Forum data, by the year 2030, six cities will emerge as new megacities, including Dar es Salaam, Luanda, and Chennai, as the population keeps flocking to urban areas. The market is expected to grow because there is a growing need for traffic control systems, smart vehicles that are connected to the latest telecommunications technology, and modern cameras and licence plate readers that make people safer and keep an eye on them. For instance, in December 2020, Lanner unveiled its Edge AI computing and connectivity services for multiple mobile applications. Get more details on this report - Request Free Sample PDF. Moreover, the Intelligent Transportation System (ITS) Market Report includes data on research and development, New product launches, product feedback from global and regional markets by key players. So, governments in many different countries are taking different steps to encourage the development of cutting-edge software. Because of this, the ATMS application had the biggest share of the ITS market in the year 2020. Global Market Insights Furthermore, the implementation of modern traffic management systems that focus on utilizing real-time data and simultaneously address the impact criteria is creating a positive market outlook. analysis reports for any of your The industry participants are focusing on launching differentiated solutions to solidify their position in the intelligent transportation system market. SAN FRANCISCO, Jan. 30, 2023 /PRNewswire/ -- The global intelligent transportation system market size is expected to reach USD 52.24 billion by 2030 and is expected to expand at a CAGR of 8.3% . The surge in the sales of heavy and light commercial vehicles is also expected to drive the growth of the market. Our aim is to provide the best solution that matches the exact customer requirements. In September 2021, Siemens and the National Authority for Tunnels (NAT) made a deal for Siemens to build a complete rail system that will include Egypt's first high-speed, electrified main and freight rail line. The intelligent transportation network segment is expected to grow as it is widely used in real-time parking management . Damage control appears to be another . Other things that are likely to help the market grow are the growing number of cars on public roads, the deterioration of the infrastructure that is already there, and a coming problem with how traffic data is managed. This is a very interesting fact. Mobile data terminals let a vehicle and a control centre talk to each other back and forth. This study provides information about the sales and revenue during the historic and forecasted period of 2017 to 2029. Ask for a Sample Report. Want to learn about competitors and their Strategy . The MarketWatch News Department was not involved in the creation of this content. Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage. On the other hand, automotive telematics anticipated to grow at the highest rate during the upcoming years owing to various regulations pertaining to security and safety of vehicle as well as passengers. This Report lets you identify the opportunities in Intelligent Transportation System (ITS) Market by means of a region: COVID-19 and Russia-Ukraine War Influence Analysis. This intelligent transportation system (ITS) market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2027 for the following segments: Countries like the United States, Dubai, and Japan are putting a lot of money into ITS-related projects. Fortune Business Insights needs. Yahoo fa parte della famiglia di brand di Yahoo. The Asia Pacific estimated to exhibit the fastest CAGR over the forecast period because of rapid transformation in the automotive and transportation sector. Optimistic or Realistic? By focusing on these three main factors, the market for intelligent transportation systems (ITS) is causing a sea change in how Traffic Management Centers (TMC) run and maintain highway networks. The American Jobs Plan aims to modernize over 20,000 miles of roads, highways and main streets. This has slowed down the rate of automobile production. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. 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This report also provides a balanced and detailed analysis of the on-going Intelligent Transportation System (ITS) trends, opportunities/high growth areas, Intelligent Transportation System (ITS) market drivers which would help the investors to device and align their market strategies according to the current and future market dynamics. ITS requires significant funding. Estimates on revenue are based on the price in the supply chain at which the Intelligent Transportation System (ITS) are procured by the companies. To use ITS, you need a lot of money. What is the growth rate of automotive telematics segment in the intelligent transportation system market? The coronavirus pandemic hindered the ITS market growth in the first half of 2020 due to lockdowns imposed by government organizations. It is estimated to advance at a CAGR of 13.95% from 2022 to 2031. The Intelligent Transportation Systems Joint Program Office (ITS JPO) within the U.S. Department of Transportations (U.S. DOTs) Research and Innovative Technology Administration conducts research on behalf of the U.S. expert team of researchers can create market The market is split by region into North America, Europe, Asia-Pacific, and LAMEA. A single fare payment system will make it easy for Omaha Metro Transit riders to plan and pay for their trips with Umo Pass. USA: +1-302-846-7766 The MarketWatch News Department was not involved in the creation of this content. Please visit: https://www.fortunebusinessinsights.com/intelligent-transportation-system-market-102065. In response to the growing number of cars on the road and the increased traffic that comes with it, a number of government and business groups are working together to make plans for putting intelligent transportation systems into place in a number of cities across North America. Events, Media Currency & Pricing 1.5. The global intelligent transportation system market size was valued at USD 29.69 billion in 2020 and is predicted to be worth around US$ 47.89 Bn by 2030. More? competitive landscape, as well as recent events such as mergers and acquisitions activities in the market. Intelligent Transportation Systems Market size is expected to reach USD 67.2 billion by 2028, growing at a CAGR of 7.1% , ITS market can be attributed to the rapid development of smart cities globally and the increasing demand for security and surveillance in the railways. On the other hand, Advanced Public Transportation System (APTS) anticipated to exhibit the fastest growth over the projected timeframe. In addition, these companies invest significantly in their product enhancement and regional expansion to gain a competitive edge on the global level. For example, in March 2021, Thales Group launched new digital railway solutions to improve passenger convenience and operations efficiency for greener mobility. These companies are benefited by their diverse product offering and technological advancement in the intelligent transportation systems industry that help them to capture large customer base. Intelligent Transportation System (ITS) Market Shareby Company Type Report is designed to incorporate both qualify qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI. Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/intelligent-transportation-system-market-102065. Mar 17, 2023 (The Expresswire) -- Intelligent Transportation System (ITS) Market Size 2023-2029 | New Report (117 . On the basis of application, the intelligent traffic control application held the largest share in 2017. The study d Want to learn more about recent trends and data ? The Global Intelligent Transportation System (ITS) Market Share report is provided for the international markets as well as development trends, competitive landscape analysis, and key regions development status. This is mainly attributed to the significant investment done by the government in the region on research and development. The intelligent transport systems market was valued at USD 22.88 billion in 2020, and is expected to reach a value of USD 30.65 billion by 2026, at a CAGR of 5.11% over the forecast period (2021 - 2026). The global intelligent transportation system market size was valued at USD 28.25 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 8.3% from 2023 to 2030. For market estimates, data are going to be provided for 2023 because of the base year, with estimates for 2023 and forecast revenue for 2029. Advanced and innovative data analytics technologies help transportation authorities to monitoring the rising traffic issue. Favorable government initiatives for building better infrastructure and smooth running of existing transport systems are expected to boost the market growth. This statistic represents the size of the global market for intelligent transportation systems in 2016, with a breakdown by type. Increasing demand for intelligent security surveillance systems, which can be used for estimating key trends and deriving patterns, is the key factor driving the market growth. North America led the global intelligent transportation system market with a revenue share of nearly 41% in the year 2020 due to technological advancement and rapid transformation in the automotive sector. Mobile data terminals are on-board devices that offer a variety of functions and facilitate communication in both directions between a control centre and a moving vehicle. According to Precedence Research, the global intelligent transportation system (ITS) market size is expected to hit US$ 47.89 Bn by 2030, growing at a CAGR of 6.3%.OTTAWA, June 01, 2021 (GLOBE . The above information has been provided for the following regions and countries: Get a report that explains COVID-19 impact on this market. Cubic will put SynchroGreen in place at 50 intersections. Also, the system makes it possible for private concessionaires, highway operators, or government agencies to improve mobility, economic productivity, road safety, and the efficiency of transportation systems. Visit a quote page and your recently viewed tickers will be displayed here. This cuts down on traffic, wait times, and pollution. Stakeholders 2. The continuous advancements in technologies of transportation networks have accelerated the demand for highly efficient transportation systems. Related transport engineering sciences show spectacular progress in automation reviving a discussing of unmanned ships using Artificial Intelligence technologies particularly for combatants. Detailed Table of Content of Global Intelligent Transportation System (ITS) Market Research Report 2023, 1 Intelligent Transportation System (ITS) Market Overview 1.1 Product Overview and Scope of Intelligent Transportation System (ITS) 1.2 Intelligent Transportation System (ITS) Segment by Type 1.3 Intelligent Transportation System (ITS) Segment by Application 1.4 Global Intelligent Transportation System (ITS) Market Size Estimates and Forecasts, 2 Intelligent Transportation System (ITS) Market Competition by Manufacturers 2.1 Global Intelligent Transportation System (ITS) Market Share by Manufacturers (2017-2023) 2.2 Global Intelligent Transportation System (ITS) Revenue Market Share by Manufacturers (2017-2023) 2.3 Global Intelligent Transportation System (ITS) Average Price by Manufacturers (2017-2023) 2.4 Manufacturers Intelligent Transportation System (ITS) Manufacturing Sites, Area Served, Product Type 2.5 Intelligent Transportation System (ITS) Market Competitive Situation and Trends 2.6 Manufacturers Mergers and Acquisitions, Expansion Plans, 3 Intelligent Transportation System (ITS) Retrospective Market Scenario by Region 3.1 Global Intelligent Transportation System (ITS) Retrospective Market Scenario in Sales by Region: 2017-2023 3.2 Global Intelligent Transportation System (ITS) Retrospective Market Scenario in Revenue by Region: 2017-2023 3.3 North America Intelligent Transportation System (ITS) Market Facts and Figures by Country 3.4 Europe Intelligent Transportation System (ITS) Market Facts and Figures by Country 3.5 Asia Pacific Intelligent Transportation System (ITS) Market Facts and Figures by Region, 4 Global Intelligent Transportation System (ITS) Historic Market Analysis by Type 4.1 Global Intelligent Transportation System (ITS) Market Share by Type (2017-2023) 4.2 Global Intelligent Transportation System (ITS) Revenue Market Share by Type (2017-2023) 4.3 Global Intelligent Transportation System (ITS) Price by Type (2017-2023), 5 Global Intelligent Transportation System (ITS) Historic Market Analysis by Application 5.1 Global Intelligent Transportation System (ITS) Market Share by Application (2017-2023) 5.2 Global Intelligent Transportation System (ITS) Revenue Market Share by Application (2017-2023) 5.3 Global Intelligent Transportation System (ITS) Price by Application (2017-2023), 7 Intelligent Transportation System (ITS) Manufacturing Cost Analysis 7.1 Intelligent Transportation System (ITS) Key Raw Materials Analysis 7.2 Proportion of Manufacturing Cost Structure 7.3 Manufacturing Process Analysis of Intelligent Transportation System (ITS) 7.4 Intelligent Transportation System (ITS) Industrial Chain Analysis, 8 Marketing Channel, Distributors and Customers 8.1 Marketing Channel 8.2 Intelligent Transportation System (ITS) Distributors List 8.3 Intelligent Transportation System (ITS) Customers, 9 Intelligent Transportation System (ITS) Market Dynamics 9.1 Intelligent Transportation System (ITS) Industry Trends 9.2 Intelligent Transportation System (ITS) Market Drivers 9.3 Intelligent Transportation System (ITS) Market Challenges 9.4 Intelligent Transportation System (ITS) Market Restraints, 10 Global Market Forecast 10.1 Intelligent Transportation System (ITS) Market Estimates and Projections by Type 10.2 Intelligent Transportation System (ITS) Market Estimates and Projections by Application 10.3 Intelligent Transportation System (ITS) Market Estimates and Projections by Region, 12 Methodology and Data Source 12.1 Methodology/Research Approach 12.2 Data Source 12.3 Author List 12.4 Disclaimer, Purchase this report (Price 3450 USD for a single-user license) -https://www.researchreportsworld.com/purchase/20955661. Large investments will be needed to put this management centre in the same place as transportation managers, system operators, dispatchers, and response agencies. The advanced traffic management system, which is often called an ATM, talks to drivers about how traffic is moving or how the roads are in real-time. In June 2021, Plenary Infrastructure Group from Australia gave Kapsch TrafficCom a project to install a new toll collection system on the Louisiana Highway (LA-1) for the Louisiana Department of Transportation and Development (LADOTD). The global impact of COVID-19 has been unprecedented and staggering, with the market witnessing a negative demand . Thesoftware segment is projected to grow at the highest CAGR during the forecast period. The MarketWatch News Department was not involved in the creation of this content. The project will improve the connectivity of Russian cities and develop strategic road routes. UBS examines takeover of Credit Suisse, with possible Swiss govt guarantee - sources, UPDATE 1-UBS examines takeover of Credit Suisse, with possible Swiss govt guarantee - sources, Netflix investors 'too pessimistic' about password sharing crackdown: Analyst. Check out more related studies published by Grand View Research: Vehicle Tracking System Market - The global vehicle tracking system market size is anticipated to be worth USD 60.88 billion by 2030, according to a new report by Grand View Research, Inc. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches. DOT and all major modes to develop transportation mobility, safety & environmental sustainability. Digitalizing rail interlockings is one of the vital steps in launching European Train Control (ETCS) in Germany. Because of this, automakers in both developing economies and industrialised economies are making big steps toward putting these systems in their next models as soon as possible. According to Technavio, the global intelligent management system (ITS) market size is estimated to grow by USD 33.39 billion from 2022 to 2027. & Specialty Chemicals, Electronics Intelligent Transportation System Market - The global intelligent transportation system market size is expected to reach USD 52.24 billion by 2030 and is expected to expand at a CAGR of 8.3% from . Meanwhile, the ageing infrastructure, increasing number of vehicles on road, lack of proper traffic management system are some of the factors that contribute to the spontaneous growth of the market. mostrarti annunci e contenuti personalizzati in base ai profili di interesse; misurare l'efficacia di annunci e contenuti personalizzati; sviluppare e migliorare i nostri prodotti e servizi. . Precedence Research is a Canada/India based company and one of the leading providers of strategic market insights. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes. The US Department of Transportation says that each mobile data terminal costs between $1,000 and $4,000, plus between $500 and $1,000 to set up. This allows speedy flow of the traffic. Several companies operating in the region are focusing on implementing intelligent transportation systems to enhance Germanys railway network. The MarketWatch News Department was not involved in the creation of this content. Several governments in the region are putting a lot of effort into improving the region's transportation infrastructure, which is making it easier for smart transportation systems to be used. Germany intelligent transportation system market will register a CAGR of around 8% through 2027 from railways application with growing focus of companies on implementing smart transportation systems. The rising adoption of the fourth industrial revolution is likely to boost the growth of smart cities across Asia Pacific countries, which, in turn, will accelerate the demand for intelligent transport solutions, supporting new demand trends in the industry. Se vuoi personalizzare le tue scelte, clicca su "Gestisci le impostazioni per la privacy". This also helps in speedy response to emergencies and accidents with higher efficiency. Track sales in the global and country-specific Market. The Europe intelligent transportation system market accounted for about 25% of the revenue share in 2020 and is set to witness rapid growth through 2027 led by the government efforts targeted at developing and modernizing new railway infrastructures. Rising traffic on the roads has a negative effect on the environment because of vehicle emissions. The industry is likely to be driven by a growing number of vehicles, ageing infrastructure, and a lack of traffic data management. China, India, and Japan stand to gain the most economically from the use of intelligent transportation systems (ITS) market. The Intelligent Transportation System (ITS) market size, estimations, and forecasts are provided in terms of and revenue (USD millions), considering 2023 as the base year, with history and forecast data for the period from 2017 to 2029. The global intelligent transportation systems market size was valued at USD 23.8 billion in 2021 and is projected to reach USD 38.70 billion by 2030, registering a CAGR of 5.75% from 2022 to 2030. Increasing adoption of smart transport systems in order to reduce traffic congestion along with favorable government initiatives that support intelligent transport infrastructure cater the growth global intelligent transportation system market. To put it another way, the market for intelligent transportation systems (ITS) includes most types of transportation that use intelligent communication technology. Your personal details will remain secure and confidential. Email: sales@gminsights.com, Global Market Insights The revolutionizing and modernizing roadway infrastructure that adopts intelligent transportation systems will augment the ITS market revenue. Thus, the rate of intelligent transportation system estimated to exhibit a decelerating rate during the COVID-19 times. The increase in traffic on the roads is bad for the environment because of the pollution that comes from cars and trucks. What segments are covered Intelligent Transportation System (ITS) Market report? Intelligent transportation systems, such as contactless access control and smart ticketing systems, will increasingly be adopted across public transportation terminals in the wake of the pandemic. The government thinks that the next generation of intelligent transportation systems will be powered by AI and will let drivers plan trips without having to worry about traffic. It is expected to expand at a CAGR of 5.9% from 2022 to 2028. The global impact of COVID-19 has been unprecedented and staggering, with the market witnessing a negative impact on demand across . The global intelligent transportation system market was valued at US$ 24.32 Bn in 2021. Because of this, it is expected that the software part of the ITS market will have the highest compound annual growth rate (CAGR) during the time of the forecast. Develop business strategies by understanding the trends shaping and driving the Market. CAGR 11.48%, Market Size: $43.497 billion in 2022. In developing countries, the effects of the car on society are not as visible, however they are nonetheless significant. The global Intelligent Transportation Management System market size is projected to reach multi million by 2030, in comparision to 2021, at unexpected CAGR during 2023-2030 (Ask for Sample Report). In that . New York, United States, July 25, 2022 (GLOBE NEWSWIRE) -- The market for intelligent transportation systems uses new information and communication technologies to make driving better. The global intelligent transportation systems market was valued at USD 23.8 billion in 2021 and is projected to reach USD 38.70 billion by 2030, registering a CAGR of 5.75% from 2022 to 2030. In 2018, nearly 36,600 people died in traffic accidents in the United States, and around 1.35 million people died in road crashes around the world. Global Market Insights Inc. Is there a problem with this press release? Copyright 2023 MarketWatch, Inc. All rights reserved. This will change how Egypt moves around. Further, the rapid transformation in the city life culture and increasing importance of smart city expected to propel the acceptance of parking management solutions. Intelligent Transportation System Market size exceeded USD 40 billion in 2020 and is projected to expand at over 9% CAGR from 2021 to 2027. The evolution of IT systems and growing telecommunications technologies adoption is anticipated to assist in reducing air pollution, traffic congestion, and delays. Citations, Aerospace Some of the prime factors contributing towards the flourishing growth of the segment are enhanced visibility, rising number of passengers in public transports, increasing investment in real-time security and information system in order to provide real-time status to the drivers. Also expected to grow as it is widely used in real-time parking management social, environmental, technological, Japan. 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