Intelligent Transportation Systems Market Size Worth $95.39 Billion By 2032 | CAGR: 8.3%

The global intelligent transportation systems market size is expected to reach USD 95.39 billion by 2032, according to a new study by Polaris Market Research. The report “Intelligent Transportation System Market Share, Size, Trends, Industry Analysis Report, By Type (ATMS, APTS, ATPS, ATIS); By Mode of Transport; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

An Intelligent Transportation System (ITS) is defined as a comprehensive system that integrates road transport with a streamlined metro/underground rail network. ITS involves the enhancement of various technological components, including Carrier Access for Land Mobiles (CALM), GPS, and Dedicated Short Range Communication (DSRC).

The growth of the Intelligent Transportation System market is expected to be fueled by various factors, including the increasing numbers of vehicles, boats, planes, and railways, coupled with aging infrastructure and a potential need for more traffic data management.

The growing demand for traffic management solutions and smart vehicles, along with the heightened safety and monitoring features offered by License Plate Recognition (LPRs) and advanced cameras, is driving the expansion of this industry.

The adoption of smart technologies and initiatives by both public and private entities highlights the crucial role of technology in shaping the future of the intelligent transportation system market. The emergence of smart cities continues to bolster this trend. Innovative traffic management solutions provided by Intelligent Transportation Systems contribute to enhanced road safety, traffic efficiency, and overall mobility.

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The COVID-19 pandemic has significantly impacted the Intelligent Transportation Systems market. The implementation and usage of ITS solutions have been significantly impacted due to global lockdowns and restrictions, leading to a substantial reduction in transportation activities. Initiatives involving smart traffic management, optimization of public transportation, and connected vehicle systems have experienced setbacks and financial constraints due to disruptions in supply chains and workforce availability as a result of the pandemic.

Intelligent Transportation Systems Market Report Highlights

• The Advanced Transportation Management Systems (ATMS) segment held the largest revenue share in the intelligent transportation systems market. The Advanced Transportation Management Systems (ATMS) is poised to assume a crucial role in easing traffic congestion, reducing pollution, and optimizing transportation operations. The seamless integration of communication systems and sensors guarantees real-time management, enhancing overall efficiency.
• The roadway segment accounted for the highest market share during the forecast period. The persistent increase in both traffic congestion and greenhouse gas emissions has prompted the adoption of intelligent transportation systems on roads. This involves incorporating electric vehicles, Advanced Traffic Management Systems (ATMS), Advanced Public Transportation Systems (APTS), and deploying smart infrastructure, among other innovations.
• North America dominated the largest market. Primarily influenced by the participation of major global players and the integration of advanced technologies like Machine Intelligence (MI), Big Data, and Cloud Computing. These technologies play a crucial role in addressing the increasing challenges related to traffic and public transportation systems.
• Asia-Pacific region accounted for the fastest growth in the intelligent transportation systems market. The increasing demand for advanced technology and the continuous expansion of transportation networks are expected to drive growth in various regions. Specifically, nations such as China, India, and Japan are poised to attain substantial economic benefits through the adoption of Intelligent Transportation Systems.
• The global key market players include Agero, Inc., DENSO CORPORATION, EFKON GmbH, Garmin Ltd., Hitachi, Ltd., Iteris, Inc., Kapsch TrafficCom, Lanner, Nuance Communications, Inc., Q-Free ASA, Ricardo, Sensys Networks, Inc., Siemens AG, Telenav, Inc., Thales Group, TomTom International BV, TransCore, and Xerox Corporation.

Polaris Market Research has segmented the intelligent transportation systems market report based on type, mode of transport, application and region:

Intelligent Transportation System, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Advanced Transportation Management Systems (ATMS)
• Advanced Public Transportation Systems (APTS)
• Advanced Transportation Pricing Systems (ATPS)
• Advanced Traveler Information Systems (ATIS)

Intelligent Transportation System, Mode of Transport Outlook (Revenue - USD Billion, 2019 - 2032)

• Railways
• Roadways
• Maritime
• Airways

Intelligent Transportation System, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Traffic Management
• Freight Management
• Road Safety and Security
• Environment Protection
• Public Transport
• Automotive Telematics
• Parking Management
• Road Trolling Management
• Others

Intelligent Transportation System, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Intelligent Transportation Systems Market Report Scope