Home > Automotive > Automotive Logistics > Logistics Technology > Intelligent Transportation System (ITS) Market

Intelligent Transportation System (ITS) Market Size – By Mode of Transport (Roadways, Railways, Airways, Marine) & Growth Potential, Reginal Analysis & Global Forecast, 2023 – 2032

  • Report ID: GMI178
  • Published Date: Sep 2023
  • Report Format: PDF

Intelligent Transportation System Market Size

Intelligent Transportation System Market size was valued at USD 43.7 billion in 2022 and is estimated to register a CAGR of 8.8% between 2023 and 2032. The ongoing global trend toward urbanization necessitates efficient transportation systems within cities. ITS plays a pivotal role in this scenario by offering smart solutions to manage and streamline urban mobility. By integrating technologies like traffic management system, public transit coordination, and real-time data analysis, ITS helps cities accommodate growing populations while minimizing the associated congestion and environmental challenges.
 

Intelligent Transportation System Market

To get key market trends   Download Free Sample

The concept of smart cities envisions urban areas that leverage technology to enhance the quality of life for their residents. Intelligent transportation systems (ITS) are a cornerstone of this vision. ITS enables cities to optimize transportation by integrating data from various sources, such as traffic sensors and public transit systems. This integration facilitates real-time traffic management, reduces congestion, improves air quality, and promotes sustainable mobility options, aligning with the broader goal of creating more livable, efficient, and environmentally friendly urban environments.

 

Integration complexities with legacy systems pose a significant challenge to the growth of the intelligent transportation system market. Many transportation systems still rely on outdated infrastructure and technologies, making it challenging to seamlessly incorporate advanced intelligent transportation system solutions. Legacy systems often lack the necessary compatibility and interoperability, requiring costly upgrades or replacements. This hinders the swift adoption of modern intelligent transportation system technologies and limits the realization of their full potential in improving transportation efficiency and sustainability.

 

COVID-19 Impact

The COVID-19 pandemic has had a mixed impact on the intelligent transportation system market. While the initial phases of lockdowns and reduced travel negatively affected demand for intelligent transportation system solutions, the pandemic also highlighted the importance of real-time traffic monitoring and adaptive transportation systems in managing crisis situations. As cities and governments seek to enhance resilience and response capabilities, the focus on intelligent transportation system for traffic management, public safety, and remote monitoring is expected to increase, potentially driving growth in the market.
 

Intelligent Transportation System Market Trends

Government initiatives aimed at bolstering safe public transportation through advanced technology are sowing the seeds of lucrative growth for the intelligent transportation system industry. For instance, in August 2023, NEC Corporation has revealed that NEC India is set to play the role of the primary system integrator for the Vehicle Location Tracking-Passenger Information System project, funded by the Nirbhaya initiative of the Indian Government.
 

This significant project is designed to tackle essential safety issues within buses while simultaneously enhancing the travel experience of passengers through the incorporation of cutting-edge technology solutions. As governments invest in modernizing transportation infrastructure, ITS providers stand to benefit from increased demand, driving the expansion of the ITS market.

 

Intelligent Transportation System Market Analysis

Intelligent Transportation  System Market, By Mode of Transport, 2021-2032, (USD Billion)

Learn more about the key segments shaping this market   Download Free Sample

The roadways segment held over 40% of the intelligent transportation system market share in 2022. High-budget tenders for roadway improvements aimed at meeting growing traffic demands are driving substantial growth in the roadways segment. For instance, in June 2023, The Kenya Urban Roads Authority (KURA) has released a worldwide tender for the initial phase of the Nairobi Intelligent Transport System (ITC) project, valued at USD 57.1 million.

 

The project's scope, as outlined by the authority, encompasses the execution of a comprehensive design and the undertaking of civil works aimed at rehabilitating and enhancing key intersections to accommodate the traffic demand adequately. Such projects are expected to alleviate congestion and enhance traffic flow but also boost demand for ITS technologies like traffic management systems and real-time monitoring, creating a fertile ground for significant expansion in the ITS Roadways sector.

 

Railway Intelligent Transportation System Market Share, By Application, 2022
Learn more about the key segments shaping this market   Download Free Sample

The passenger information management segment accounted for 27% of the intelligent transportation system market share in 2022. Modernizing the passenger experience is a focal point in transportation systems. Passenger information management systems play a pivotal role in achieving this by providing real-time, accurate information about routes, schedules, delays, and service changes.

 

For instance, in July 2023, Stadler has granted WABTEC a contract to provide passenger information systems and a redesigned pantograph for 200+ CityLink tram-trains, which are part of the tram-train procurement initiative led by six German and Austrian operators under the German Transport Association (VDV). This contract, spanning a decade, also incorporates a provision to furnish equipment for an additional 258 vehicles if required.

 

 U.S. Intelligent Transportation System Market Size, 2021-2032 ( USD Billion)
Looking for region specific data?   Download Free Sample

North America intelligent transportation system market recorded more than 25% of revenue share in 2022. The U.S. faces escalating traffic congestion, particularly in its densely populated urban centers. This challenge is a significant driver for the market growth. In response, intelligent transportation system technologies are being widely implemented across the country. These solutions, such as real-time traffic monitoring and adaptive signal control systems, are instrumental in mitigating congestion, reducing travel times, and enhancing overall traffic management, resulting in smoother and more efficient transportation networks.

 

Intelligent Transportation System Market Share

Some of the major companies operating in the intelligent transportation system market are

  • Alstom SA
  • Cisco Systems Inc.
  • Garmin Ltd.
  • Indra Sistemas S.A.
  • Kapsch Group
  • Northrop Grumman Corporation
  • Raytheon Technologies
  • Siemens AG
  • Thales Group

     

Intelligent Transportation System Industry News

  • In April 2022, Ministry of Electronics and Information Technology, India, had introduced various applications within the Intelligent Transportation System (ITS). These include a domestically developed the Onboard Driver Assistance and Warning System, a Bus Signal Priority System, and the CoSMiC software. These innovations are the result of a collaborative effort between the CDAC and the Indian Institute of Technology Madras.
     

This intelligent transportation system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments:

Click here to Buy Section of this Report


Market, By Mode of Transport

  • Roadways
    • System
      • Advanced Traffic Management System (ATMS)
      • Advanced Traveler Information System (ATIS)
      • Advanced Transportation Pricing System (ATPS)
      • Advanced Public Transport System (APTS)
      • Advanced Rural Transportation System (ARTS)
      • Commercial Vehicle Operation (CVO)
    • Component
      • Hardware
        • Telecommunication networks
        • Interface boards
        • Sensors
        • Monitoring & detection systems
        • Surveillance camera
      • Software
        • Visualization software
        • Video detection management software
        • Transit management system
        • Others
      • Service
        • Professional service
        • Installation, maintenance, and operation
    • Application
      • Traffic management
      • Road safety
      • Freight management
      • Parking management
      • Road-user charging/ETC
      • Telematics
  • Railways
    • Component
      • Solution
        • Rail traffic management
        • Asset management software
        • Rail communication & networking
        • Real-time passenger information system (Freight management)
        • Rail analytics
      • Service
        • Professional service
        • Installation, maintenance, and operation
      • Application
        • Smart ticketing
        • Passenger information management
        • Operation and collision avoidance
        • Security
        • Emergency notification
        • Others
  • Airways
    • System
      • Information display system
      • Tracking & monitoring system
      • Self-service baggage system
      • Kiosks
      • Communication & networking
      • Smart gate system
      • Others
    • Application
      • Security
      • Smart ticketing
      • Bus tracking
      • Fleet management (aircraft management)
      • Emergency notification
      • Passenger information
      • Others
  • Marine
    • System
      • Maritime navigation and information system
      • Tracking and monitoring system
      • Vessel traffic management system
    • Application
      • Freight movement (container)
      • Security and emergency notification
      • Weather information
      • Marine arrival and transit
      • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Singapore
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Colombia
    • Argentina
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
    • Israel

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of intelligent transportation system reached USD 43.7 billion in 2022 and is set to register a CAGR of 8.8% between 2023 and 2032, owing to the government funding and PPP models.
The passenger information management segment held over 27% of the market share in 2022, as these systems play a pivotal role in modernization by providing real-time, accurate information about routes, schedules, delays, and service changes.
North America market with a share of over 25% in 2022, owing to the escalating traffic congestion, particularly in its densely populated urban centers.
Alstom SA, Cisco Systems Inc., Garmin Ltd., Indra Sistemas, S.A., Kapsch Group, Northrop Grumman Corporation, Raytheon Technologies, Siemens AG, and Thales Group.

Intelligent Transportation System Market Scope

Buy Now


Premium Report Details

  • Base Year: 2022
  • Companies covered: 20
  • Tables & Figures: 1024
  • Countries covered: 22
  • Pages: 200
 Download Free Sample
 Download Free Sample