Research Expert: Sarah Overall
  • Published: Feb 2025
  • Pages: 150
  • SKU: IRTNTR41630

  • Intelligent Transport System Market Size 2024-2028

    The Intelligent Transport System (ITS) market size is forecast to increase by USD 36.34 billion at a CAGR of 8.55% from 2023 to 2028. The market is rapidly evolving, driven by the integration of advanced technologies that aim to enhance transportation efficiency and safety. ITS solutions cover various aspects such as traffic management, electronic toll collection, smart parking, and real-time traveler information systems. The market's growth is influenced by factors like escalating traffic congestion, the need to reduce road accidents, and the expanding road freight logistics market. Additionally, the rise in smart connected devices has significantly contributed to the adoption of ITS solutions, which are reshaping the transportation landscape and ensuring smoother and safer journeys.

    Global Intelligent Transport System (ITS) Market 2024-2028

    For more details about the industry, get the PDF sample report for free

    Market Segmentation

    By Application

    • Traffic management
    • Toll management
    • Automotive and infotainment telematics
    • Public transport
    • Others 

    By Type

    • Advanced traffic management system
    • Advanced public transportation system
    • Advanced transportation pricing system
    • Advanced traveler information system
    • Others 

    By Region 

    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Brazil
      • Argentina
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

    Market Dynamics

    Market Driver

    The market is experiencing substantial growth due to the challenges posed by traffic congestion and road safety. Rapid urbanization, particularly in emerging economies like India and China, is exacerbating traffic issues. The expanding middle-class population and increased disposable incomes are contributing to the surge in automobile sales and urbanization. Government organizations in developing countries are deploying ITS solutions to manage traffic more efficiently, leveraging advanced technology like sensors, automation, and connectivity. Additionally, the growing concerns over road safety are accelerating the demand for smart traffic solutions integrated with GPS and advanced data analysis.

    Market Trends

    The key trend driving the market is the increased use of meta-intelligence in transport systems. ITS providers are incorporating big data and IoT analytics into their solutions to improve visibility over business processes and facilitate more efficient decision-making. The ability to optimize environmental and financial processes is pushing ITS adoption further. Companies in the transportation and logistics sectors are focusing on maximizing facility utilization and anticipating capacity constraints to improve overall operational efficiency.

    Get more details by ordering the complete report

    Market Restraint

    System integration and interoperability remain significant challenges for the ITS market. The lack of seamless integration between existing infrastructure and ITS solutions complicates deployment. The absence of a fully functional digital workflow and issues with data sharing between different systems and machines limit the widespread adoption of ITS solutions. High replacement costs to achieve alignment with newer technologies are also an obstacle to market growth.

    Key Players in the Market

    The major players in the ITS market are:

    • 3M Co.
    • Advantech Co. Ltd.
    • Airbus SE
    • AECOM
    • Axiomtek Co. Ltd.
    • Constellation Software Inc.
    • Cubic Corp.
    • EFKON GmbH
    • Garmin Ltd.
    • GMV Innovating Solutions SL
    • Hitachi Ltd.
    • HR Green Inc.
    • Indra Sistemas SA
    • Mundys S.p.A.
    • Serco Group Plc
    • SICE TyS
    • Siemens AG
    • Stantec Inc.
    • Sumitomo Electric Industries Ltd.
    • Teledyne Technologies Inc.
    Read News Read Less
    Interested in this report?
    Get your sample now!

Safe and Secure SSL Encrypted

Technavio

  • 2500 USD

[5 reports/month/user]

  • 5000 USD

close
  • Basic Plan [5000 USD/Year]:

    Single User
    Download 5 Reports/Month
    View 100 Reports/Month
    Add upto 3 Users at 625 USD/user

  • Teams Plan [7500 USD/Year]:

    5 User
    Download 5 Reports/Month/User
    View 100 Reports/Month/User
    Add upto 30 Users at 500 USD/user

*You can upgrade to Teams plan at Subscription page

close
  • Single:

    One user only.
    Quick & easy download option

  • Enterprise:

    Unlimited user access (Within your organization).
    Complimentary Customization Included

*For Enterprise license, go to checkout page

Technavio Get the report (PDF) sent to your email within minutes.