Global Intelligent Transport Systems Market Report, Industry Overview, Growth Rate and Forecast 2020-25


Posted June 18, 2020 by rahulrastogi

By IMARC Group, the global intelligent transport systems market size reached 22.5 billion in 2019, projected to reach strong growth to 2020-25.

 
According to the latest report by IMARC Group, titled “Intelligent Transport Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global intelligent transport systems market size reached US$ 22.5 Billion in 2019. An intelligent transport system (ITS) refers to an integrated platform that implements various technologies to provide optimum technical equipment for vehicles in order to enable the efficient use of the transportation infrastructure. These systems provide real-time information to road users and operators to improve safety and mobility while reducing the environmental impact of transportation. In recent years, several authorities and operators around the globe have adopted technologies, such as ITS, which allow them to manage transport networks and achieve more sustainable land mobility.

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Market Trends:

ITS provides prior information to passengers and law enforcement agencies about traffic congestion, ongoing road works and the timing of traffic lights. The system also facilitates remote access to pre-paid accounts and electronic payments for buying tickets. This, in turn, reduces the travel time and improves the safety and comfort of commuters. ITS further aids in minimizing traffic congestion, lowering the air pollution level, decreasing accident rates, increasing energy efficiency and enhancing the driving experience. Along with this, the growing number of smart city projects has accelerated the implementation of ITS. For instance, the European Commission’s action plan for the deployment of ITS in Europe aims to make road transportation and its interaction with other transport modes safer and more efficient, secure and environment-friendly. Moreover, the rapid proliferation of the Internet of Things (IoT), big data analytics and mobile technology has provided a positive thrust to the ITS market globally. The data collected via these technologies forms a crucial resource for automotive manufacturers, enabling them to get detailed insights about vehicle performance in different environments. Looking forward, the market value is projected to reach a strong growth in next five year during 2020-2025.

Market Breakup by Mode of Transport:

Roadways
Railways
Airways

Market 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

Market 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

Market 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

Market 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

Market Summary:

Region-wise, North America enjoys the leading position in the market. Other major regions include Asia Pacific, Europe, Middle East and Africa, and Latin America. The competitive landscape of the market has also been examined 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).

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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Last Updated June 18, 2020