IMARC Group’s latest report, titled “Intelligent Transport Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the intelligent transport systems market trends. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
the global intelligent transport systems market size reached US$ 44.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 92.3 Billion by 2032, exhibiting a growth rate (CAGR) of 8.2% during 2024-2032.
Intelligent Transport Systems (ITS) refer to advanced applications designed to provide innovative services relating to different modes of transport and traffic management. These systems enable users to be better informed and make safer, more coordinated, and smarter use of transport networks. ITS encompasses a broad range of applications that process and share information to ease congestion, improve traffic management, minimize environmental impact, and increase the benefits of transportation to commercial users and the public. Key characteristics include connectivity, real-time data-driven decisions, and integration with existing infrastructure.
These systems utilize various technologies including sensors, Internet of Things (IoT) devices, and artificial intelligence to analyze and interpret data, which improves transportation safety and efficiency. The working mechanism often involves real-time data collection from multiple sources, which is then processed to monitor, control, and manage traffic flows, reducing congestion and enhancing travel times. ITS offers substantial advantages like improved road safety, better traffic management, reduced environmental pollution, and enhanced user information services.
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Leading key Players in the Intelligent Transport Systems Industry :
- 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)
Intelligent Vending Machines Market Trends:
The global market is primarily driven by the escalating demand for safer road travel and more efficient traffic management systems. In line with this, the increasing adoption of smart city initiatives across the globe is also providing an impetus to the market. Moreover, the significant rise in vehicle automation and connectivity is acting as a major growth-inducing factor for the market. In addition to this, the expansion of wireless communication technologies is resulting in a greater integration of ITS into mainstream traffic management systems. Besides this, the growing environmental concerns and the push for reduced carbon emissions are creating lucrative opportunities for ITS technologies that optimize fuel usage and improve traffic flow.
Also, the enhancement of public transportation systems through real-time data and networked solutions is impacting the market positively. The market is further driven by the increasing investments in infrastructure development by governments worldwide, which include the installation and maintenance of ITS. Apart from this, the widespread availability of mobile devices enabling access to travel and traffic information is propelling the market. Some of the other factors contributing to the market include the rapid pace of urbanization, the shift towards more coordinated and networked cities, and extensive research and development activities focused on creating more integrated and efficient transportation solutions.
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Key Market Segmentation:
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 (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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