global intelligent transport systems market

Increased demand for integrated, biometric, sensor based technology, implementation of contactless & mobile payment, ticketing technologies across public transit will impact positively the market outlook worldwide post COVID-19. However, the ITS industry witnessed significant growth in mid-2021, owing to the increasing investment by various governments in infrastructure development activities to recover the pandemic-affected economy. The importance of ITS is growing considering the increasing urbanization and subsequently rising travel time. This is primarily occurring because of a lack of infrastructure growth compared to the growing number of vehicles on roads due to cost and space constraints. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market is driven by the increasing demand for efficient transportation systems, the need to reduce traffic congestion and carbon emissions, and . Agero, Inc.; DENSO CORPORATION; EFKON GmbH; Hitachi, Ltd.; Garmin Ltd.; Thales Group; Xerox Corporation; Recardo; Sensys Networks, Inc.; Telenav, Inc.; Iteris, Inc.; Kapsch TrafficCom; Lanner; Nuance Communications, Inc.; Q-Free ASA; Siemens AG; TomTom International BV; TransCore. Traffic congestion is a repetitive problem across the globe, causing huge fuel consumption and impacting the quality of life. Request a Free sample to learn more about this report. the market is growing at a steady rate and with the. Fortune Business Insights says that the global market size was USD 21.82 billion in 2020 and is projected to reach USD 42.80 billion by 2028. These systems provide monetary benefits to vehicle owners by reducing overall fuel consumption and also help in avoiding congested routes and thus reducing travel time. Also, Consumer behaviour analysis and market dynamics (drivers, restraints, opportunities) provides crucial information for knowing the Intelligent Transportation Systems (Its) market. The. Market dynamics. The data collected through devices is analyzed, processed, and communicated to the user through dynamic signboards, the internet, or mobile telephony. The Global Intelligent Transport Systems (Its) market is anticipated to rise at a considerable rate during the forecast period. The United States represents the largest regional market for Intelligent Transportation Systems, accounting for an estimated 39.1% share of the global total. Intelligent Transportation Systems (Its) Market analysis can also involve forecasting future market trends and conditions, based on factors like technological change, regulatory developments, or demographic shifts. ReportLinker, New York, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Intelligent Transport System (ITS) Market 2022-2026" - https://www.reportlinker.com/p04988830/?utm_source=GNW 92% during the forecast period. The dominance of the key players is also current owing to the provision of advanced and developed products. The markets in the Middle East & the Rest of the World regions will experience rapid growth. The Global IoT in Intelligent Transportation System market size is expected to gain market growth in the forecast period of 2023 to 2028, with a CAGR of XX in the forecast period of 2023 to 2028 and will be expected to reach USD XX million by 2028, from USD XX million in 2023. The advanced traffic management system (ATMS) segment is anticipated to dominate the forecast period. ReportLinker Traffic management solutions providers are adopting AI. Visit a quote page and your recently viewed tickers will be displayed here. Many nations are implementing a strategic plan of intelligent transportation systems to reduce road traffic congestion and accidents through advanced safety systems by wireless communications. To know how our report can help streamline your business, Speak to Analyst, Advanced Traffic Management System Segment to Grow Substantially over 2021-2028. Some key players operating in the intelligent transportation system market include Siemens AG; Kapsch TrafficCom; DENSO Corporation; Xerox Corporation; and Hitachi Ltd. b. We need to stop this now. First Republic support is spreading financial contagion, says Ackman. For this study, Grand View Research has segmented the global intelligent transportation system market report based on type, application, and region: Type Outlook (Revenue, USD Million, 2018 - 2030), Advanced Traveler Information System (ATIS), Advanced Traffic Management System (ATMS), Advanced Transportation Pricing System (ATPS), Advanced Public Transportation System (APTS), Application Outlook (Revenue, USD Million, 2018 - 2030), Regional Outlook (Revenue, USD Million, 2018 - 2030). Moreover, the report contains major and minor features of the industry participants and emerging industries with value-chain analysis. It also provides accurate information and cutting-edge analysis that is necessary to formulate an ideal business plan, and to define the right path for rapid growth for all involved industry players. It also increases the efficiency of vehicles by lowering the burning of fuel from vehicles at signals. 2.To understand the structure of Intelligent Transportation Systems (Its) Market by identifying its various sub segments. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 9.7% over the forecast period. The report provides actionable. Get a Sample PDF of report https://www.360marketupdates.com/enquiry/request-sample/20664828. With this information, stakeholders will be more capable of developing new strategies, which focus on market opportunities that will benefit them, making their business endeavors profitable in the process. This is expected to play a vital role in driving the growth of the automotive telematics segment over the forecast period. The rising road traffic congestion, in turn, leads to a negative impact on the environment due to vehicle emissions and may cause an increase in road fatalities. The global Intelligent Transportation System (ITS) market was worth $41.2 Bn in 2020 and Is Expected To Reach $74.1 Billion by 2028, with a CAGR of 9.3%. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. North America is projected to show steady growth in this market over the forecast period owing to the implementation of ITS by Canada at a slower rate. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Intelligent Transportation Systems (Its) Marketsize, segment (mainly coveringMajorType (, Hardware, Software, Services, ,),End Users (, Traffic Management, Road Safety And Security, Freight Management, Public Transport, Environment Protection, Automotive Telematics, Parking Management, Road User Charging,), and regions), recent status, development trendsa and competitor landscape. The market, estimated at US$23.8 Billion in 2020 is projected to reach US$49.5 Billion by 2026, registering a compounded annual growth rate (CAGR) of 8.8% over the analysis period. Intelligent Transportation Systems (Its) Market Provides High-class Data: - It is true that the global Intelligent Transportation Systems (Its) market provides a wealth of high-quality data for businesses and investors to analyse and make informed decisions. The growing demand for traffic control solutions, smart vehicles, the improved safety and surveillance offered by modern cameras, License Plate Recognition (LPRs), and the rapid development of smart cities . "The quality of research they have done for us has been excellent.". Looking forward to work together in the future, It has been a delightful experience working with you guys. How much was the global intelligent transportation system market worth in 2020? Inquire or Share Your Questions If Any Before the Purchasing This Report https://www.360marketupdates.com/enquiry/pre-order-enquiry/19994988, Market segment by Region/Country including: -, User center of Intelligent Transportation Systems (Its) market 2023. However, implementing the latest, advanced real-time traffic management technology often requires restructuring the existing infrastructure. Get a Sample Copy of the Intelligent Transportation Systems (Its) Report 2023, Top Country Data and Analysis: - for United States, Canada, Mexico, Germany, France, United Kingdom, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil and Saudi Arabia, etc. This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. You can also contact MarketWatch Customer Service via our Customer Center. An Infographic Representation of Intelligent Transportation System Market, To get information on various segments, share your queries with us. Your transaction & personal information is safe and secure. the market is growing at a steady rate and with the rising adoption . Intelligent Transportation Systems (Its) Industry leading players are the ones that have the biggest impact, the most market shares 2023, the best reputation, or the highest revenue within their field they are. The report was very accurate and as per my requirements. This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. 7.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market. It provides a seamless digital solution for traffic management and also reduces the need of a worker to operate it manually. The impact of growing traffic congestion on the environment is harsh. The global intelligent transportation system market was valued at US$ 24.32 Bn in 2021. In addition to the aforementioned factors, the report delivers an in-depth market analysis of several factors that have contributed to its growth over recent years. 6. The COVID-19 pandemic has hampered the implementation projects and new ITS sales & installations in 2020. They can be applied to different modes of transport like roadways, railways, airways. The report will account for COVID-19 as a key market contributor. Which growth factors drives the Intelligent Transport Systems (Its) market growth? Similarly, smartphone-based applications used to provide real-time information to vehicle owners for scheduling vehicle maintenance services are also gaining popularity in several parts of the world. A market can refer to a specific geographic location, particular industry or sector, develop strategies for entering or expanding in a particular Intelligent Transportation Systems (Its) market. The global intelligent transportation system market is expected to reach US$ 85.52 Bn by the end of 2031. online dashboard trial. Superior navigation, communications, operations monitoring and data-collecting technologies are applied to improve the mobility, security and efficiency of transportation. Besides this, the report offers insights into the current market trends and highlights key industry developments. Choose reports from a database of more than 10,000 reports. NEW YORK, March 2, 2023 /PRNewswire/ -- According to Technavio, the global intelligent management system (ITS) market size is estimated to grow by USD 33.39 billion from 2022 to 2027. The advanced transportation pricing system (ATPS) segment is also projected to show steady growth in the market over the forecast period. Asia Pacific held the largest share in the market in 2020. For more details, please read our privacy policy. Intelligent transport service providers also support the government by providing expertise on implementing ITS in the transportation infrastructure. The intelligent transport system market is expected to witness market growth at a rate of 9.05% in the forecast period of 2021 to 2028. Also, it splits Intelligent Transport Systems (Its) market Segmentation by Type and by Applications to fully and deeply research and reveal market profile and prospects. Both Primary and Secondary data sources are being used while compiling the report. In addition, upcoming smart city projects, advanced communication networks, and government initiatives for smart development in China, India, Singapore, Dubai, and other emerging countries will create new opportunities for market growth. Inquire or Share Your Questions If Any Before the Purchasing This Report https://www.360marketupdates.com/enquiry/pre-order-enquiry/20664828, Market segment by Region/Country including: -, User center of Intelligent Transport Systems (Its) market 2023. The Market Research analyst will give you thorough insightful information on Automotive Knee Airbag Systems Size, the competitive landscape is delivered i.e. The global intelligent transportation system market is projected to reach USD 67.2 billion by 2028 from an estimated USD 47.8 billion in 2023, at a CAGR of 7.1% from 2023 to 2028The. This website is secure and your personal details are safe. Further, the continuous demand for Vehicle-to-Infrastructure (V2I) and Vehicle-to-Vehicle (V2V) communication to streamline the vehicle flow is expected to gain traction over the next few years. Intelligent transportation system (ITS) is the application of sensing, analysis, control, and communications technologies in transportation in order to improve safety, mobility, and efficiency. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. This is attributable to the United States Department of Transportation (DOT) has been investing heavily in R&D, adoption, and deployment of ITS across the region. The MarketWatch News Department was not involved in the creation of this content. Global Intelligent Transportation Systems (ITS) Market to Reach $42.8 Billion by 2030 In the changed post COVID-19 business landscape, the global market for Intelligent Transportation Systems (ITS) estimated at US$30.3 Billion in the year 2022, is projected to reach a revised size of US$42.8 Billion by 2030, growing at a CAGR of 4.4% over the . We value them as a research company worthy of building long-term relationships., Well done Fortune Business Insights! Also, transportation agencies need to be prepared for the future. 3.Focuses on the key global Intelligent Transport Systems (Its) manufacturers, to define, describe and analyze the value, market share, market competition landscape, Porter's five forces analysis, SWOT analysis and development plans in next few years. I plan to retire at 62. Market Analysis and Insights : Global Intelligent Transport System Market. Nevertheless, advanced traffic management systems capable of utilizing real-time data can efficiently address traffic issues. Hence, the government bodies role across the globe is also important to launch new technologies in the country and execute intelligent transportation systems, which will be expected to drive the demand for the market and reduce the financial burden on governments. In addition to this, the easy affordability of vehicles, and automobile manufacturers discounts on vehicles are accelerating vehicle sales which, leads to traffic congestion. The global intelligent transportation system market size was USD 21.82 billion in 2020 and is projected to grow from USD 22.91 billion in 2021 to USD 42.80 billion in 2028, exhibiting a CAGR of 9.34% during the forecast period. Other notable benefits of ITS include reduced road fatalities and comfortable passenger transit. Sign up today for your free Reader Account. Intelligent Transport Systems (Its) Market -SegmentationAnalysis: Report further studies the market development status and future Intelligent Transport Systems (Its) Market trend across the world. Description and Analysis of Intelligent Transportation Systems (Its) market: - Intelligent Transportation Systems (Its) Market analysis is the process of evaluating market conditions and trends in order to make informed business decisions. Traveler management systems help in easing congestion on roads and in significantly reducing the response times in case of emergencies. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. It focuses on key aspects such as leading companies, product types, and leading applications of the product. This complete system provides accurate object detection for plate recognition, vehicle speed detection, parking spot detection, truck, motorbike, and pedestrian violations. Short Description About Intelligent Transportation Systems (Its) Market: Complete Overview of the Global Intelligent Transportation Systems (Its) Market: -Providing a complete overview of the global Intelligent Transportation Systems (Its) market is a complex task, as there are many different markets and industries around the world. The global intelligent transportation system market is estimated to garner a sizeable revenue by growing at a ~6% CAGR over the forecast period, i.e., 2022-2030. By geography, the global intelligent transport system (ITS) market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. Which is the leading segment in the global intelligent transportation system market? There are many different sources of market data, including government statistics, industry reports, financial news, and market research firms. Also, it splits Intelligent Transportation Systems (Its) market Segmentation by Type and by Applications to fully and deeply research and reveal market profile and prospects. This can be attributed to the early adoption of advanced technologies and the governments initiatives like free trade zones in the UAE, which have sensed opportunities in the automotive industry. The application market of Global Railways Intelligent Transport Systems (ITS) market including Cost Management, Carbon Emission Control, Capacity Management, Customer Management have been focused . The Global Intelligent Transportation System Market is estimated to be USD 43.21 Bn in 2022 and is projected to reach USD 61.2 Bn by 2027, growing at a CAGR of 7.21%. Arrival of Autonomous and Connected Cars and Emerging Opportunities. Many ITS service providers deliver their expertise in design, planning, implementation, and tasks to improve solution and system performance. No purchase commitment. Market dynamics. As a result, the rising need of managing the traffic flow across highways and city corridors has triggered the need for advanced traffic management technology. ITS provides traffic management solutions that enable enhanced road safety, traffic flow, and mobility, creating a positive market outlook. The growing number of vehicles on the road, aging infrastructure, and a looming lack of traffic data management are some of the other factors anticipated to contribute to the markets growth. Some of the key types of data that are available from the global Intelligent Transportation Systems (Its) market include, Economic data, Financial data, Industry data, Consumer data However, it is important to carefully evaluate the quality and reliability of data sources and to use multiple sources of data to gain a more complete understanding of the Intelligent Transportation Systems (Its) market. 5.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks). South Korea is the leading country with the most considerable financing in this region for ITS deployment. ITS for public transportation services aid in streamlining transit, enable transit firms in identifying the precise location of vehicles and ensuring safety of commuters. The remarkable growth of the automotive telematics segment can be attributed to the initiatives being pursued by government bodies for ensuring safety and security on roads. Free trial, before you make a purchase decision. Data Bridge Market Research report on intelligent transport system market provides analysis and insights regarding the various factors . These technologies include a head-up display for motor transit and creation of visualization. It's expected that the market will achieve USD 44458.95 million by 2028, exhibiting a CAGR of 5.83% during the forecast period. Get a Sample Copy of the Report at https://www.360marketupdates.com/enquiry/request-sample/20664828, Both Primary and Secondary data sources are being used while compiling the report. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. Moreover, development in data analytics, including artificial intelligence and machine learning, are key factors that are expected to play an imperative role in the development of ATMS over the forecast period. China,. Also, the intelligent transport system (ITS) market analysis report includes information on upcoming trends and challenges that will influence market growth. See for yourself. The solution provides BEV and ICE needs in markets with both left and right-hand driving and also delivers a seamless onboard navigation experience that is optimized to provide up-to-date maps and online content to end-users with reduced mobile data consumption, creating robust opportunities for the ITS market. Nearly 36,600 deaths were reported due to traffic accidents on the U.S. roadways in 2018, and around 1.35 million deaths across the globe were reported due to road crashes. The integration would allow Siemens Mobility to offer the public and traffic authorities in the U.K. the option to monitor journey times without the need for additional hardware such as Wi-Fi sensors and ANPR cameras with Bluetooth. Intelligent Transport System Market: Key Drivers, Trends, Challenges, and Customer Landscape The increasing traffic congestion and road accidents are notably driving the market growth, although factors such as system integration and interoperability issues may impede the market growth. Several public-private collaborative efforts to introduce intelligent transportation systems are materializing in various cities such as New York, Toronto, Vancouver, Los Angeles, and Chicago, across North America to create a strong demand for short-range communication devices that prevent traffic jams, which ultimately drives the demand for intelligent transportation systems in the region. As the COVID-19 and the Russia-Ukraine war are profoundly affecting the global supply chain relationship and raw material price system, we have definitely taken them into consideration throughout the research, and we elaborate at full length on the impact of the pandemic and the war on the Precious Metals Industry. COVID-19 had a significant impact on the supply chain and product demand in the automotive sector. Final Report will add the analysis of the impact of COVID-19 on this industry. Increasing use of is expected to drive the growth of the Intelligent Transport Systems (Its) Market. Frequent traffic congestions often culminate in significant monetary losses stemming from the increase in travel time and the growth in fuel consumption. It is a dynamic and ever-changing environment, and businesses that are able to adapt to new trends and challenges are likely to be the most successful. Sign up today for your free Reader Account! This TMC implementation includes a set of video surveillance systems, sensors, vehicle probes, navigation systems, and other systems & components. Discounted price for multiple reports across domains, 2. Which is the key factor driving the market? Furthermore, many small enterprises are also working with the government to provide better transportation services. Some prominent players in the global intelligent transportation system market include: Revenue in USD million and CAGR from 2023 to 2030, Revenue forecast, company ranking, competitive landscape, growth factors, trends, North America; Europe; Asia Pacific; Latin America; MEA, U.S.; Canada; Germany; U.K.; France; China; India; Japan; South Korea; Brazil; Mexico; Argentina; UAE; KSA. I get $1,500 a month in rental income and have $200,000 in savings. For instance, France has funded around 8.5 million euro for the development of ITS from 2016-2020. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. Rising road traffic congestion and the rising use of advanced technologies in ITS systems are vital to the market driver. Complimentary 10 hours free analyst time for market review, 3. Intelligent Transport Systems (Its) Market Report Contains 2023: -, Get a Sample Copy of the Report at - https://www.360marketupdates.com/enquiry/request-sample/20664828. Global Intelligent Transport System (ITS) Market 2022-2026 The analyst has been monitoring the intelligent transport system (ITS) market and it is poised to grow by $38. Further, in March 2021, Telenav, Inc. partnered with an automotive group SAIC, to make available navigation and location-based services for SIACs internal combustion engine (ICE) vehicles and battery-powered electric (BEV). Is there a problem with this press release? The implementation of smart technologies and several efforts have been taken by both public and private organizations by varying measures, demonstrating the role of technology in shaping the future of the intelligent transportation system industry. 6.To project the consumption of Intelligent Transport Systems (Its) submarkets, with respect to key regions (along with their respective key countries). All rights reserved. 4.To analyze the Intelligent Transport Systems (Its) with respect to individual growth trends, future prospects, and their contribution to the total market. Intelligent Transport Systems (Its) Market - Competitive Analysis: With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth. 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For multiple reports across domains, 2 congestion on roads and in significantly the. A worker global intelligent transport systems market operate it manually: //www.360marketupdates.com/enquiry/request-sample/20664828 road traffic congestion and carbon emissions, assessing., industry reports, financial News, and mobility, creating a market... Efficiently address traffic issues was the global Intelligent Transport system ( ATMS ) segment anticipated! Travel time in fuel consumption and impacting the quality of life pandemic has hampered the implementation projects and new sales!