DUBLIN, Feb. 19, 2024 /PRNewswire/ — The “Intelligent Transportation Systems (ITS) – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Intelligent Transportation Systems (ITS) Market to Reach $52.6 Billion by 2030
The global market for Intelligent Transportation Systems (ITS) estimated at US$27.4 Billion in the year 2022, is projected to reach a revised size of US$52.6 Billion by 2030, growing at a CAGR of 8.5% over the analysis period 2022-2030.
Advanced Traffic Management System (ATMS), one of the segments analyzed in the report, is projected to record a 9.1% CAGR and reach US$19.1 Billion by the end of the analysis period. Growth in the Advanced Traveler Information System (atis) segment is estimated at 7.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $10.7 Billion, While China is Forecast to Grow at 12.3% CAGR
The Intelligent Transportation Systems (ITS) market in the U.S. is estimated at US$10.7 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$6.2 Billion by the year 2030 trailing a CAGR of 12.3% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.3% and 7.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 7.7% CAGR.
What`s New?
Special discussions on the global economic climate and market sentimentCoverage on global competitiveness and key competitor percentage market sharesMarket presence analysis across multiple geographies – Strong/Active/Niche/TrivialOnline interactive peer-to-peer collaborative bespoke updatesAccess to digital archives and research platformComplimentary updates for one yearAccess to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
MARKET OVERVIEW
From Pandemic to War & Inflation: “Gloomy Outlook for 2023 Despite Signs of Easing Inflationary Conditions”Here’s How Inflationary Pressures Affect the EconomyRussia-Ukraine War, the Primary Culprit Responsible for the HardshipsAlthough Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should ContinueHere’s What’s Causing Inflationary Pressures in the Global MarketEffect of the Pandemic on Transportation IndustryCOVID-19 Necessitates Profound Changes in Travel PatternsPandemic Holds Hidden Opportunity for Intelligent Transportation SystemPandemic Creates Need for Resilient Transportation SystemCOVID-19 Brings Forth Need for Intelligent Transportation Systems amid Certain LimitationsCompetitive ScenarioSelect Innovations & AdvancementsCompetitive Market Presence – Strong/Active/Niche/Trivial for 162 Players Worldwide in 2023 (E)Intelligent Transportation System: A Cornerstone Technology for Smart TransportationITS Empowering the Real Modern Day Transport InfrastructureRationale behind Installation of ITSKey ITS Capabilities in a CapsuleEnhancing Efficiency & Economy of Transport SystemsEnsuring Safety & SecurityKey Result Areas of ITS in Ensuring Safety’ITS’ as a Means for Ensuring Better Environment QualityInternet, X Ray and DSRC: The Key ITS EnablersGlobal Market Prospects & OutlookDeveloped Markets: Traditional Revenue Contributors for ITS MarketDeveloping Markets to Turbo Charge Future Growth in the ITS MarketIntelligent Transportation Systems (ITS): An IntroductionDifferent Phases of ITS ApplicationBroad Classification of Intelligent Transportation SystemsIn Vehicle Intelligent Transportation Systems: A Complimentary ReviewRecent Market ActivitySelect Global Brands
MARKET TRENDS & DRIVERS
Market Scenario in a NutshellAs a Novel Platform Capable of Enabling Future-Proof Traffic Management, ITS Set to Widen its Addressable MarketContinued Rise in Vehicular Traffic and Need to Regulate Traffic Flow: A Business Case for ITS InvestmentsGrowing Number of Road Accidents and Need to Ensure on-Road Safety to Commuters Drives Business Case for ITSFocus on Smart Highways and Smart Roads to Enhance ITS DeploymentsGrowing Investments in Road Infrastructure DevelopmentHeightened Focus on Integrating Diverse Technologies Set to Streamline ITS LandscapePrevailing Technological Trends Fully Support Deployments of Large-Scale ITSRapid Urbanization Triggers Growth in the ITS MarketIncreasing Number of Mega Cities Favors Future GrowthMajor Global Cities Leading the Way in Deployment of Intelligent Transportation SystemsGrowing Smart City Market to Drive Demand for ITSHow Intelligent Transportation Systems Benefits Smart Cities?Capabilities to Improve Logistics Drives Adoption of ITSGrowing Emphasis on Smart Transportation Widens ProspectsSmart Parking Technologies Come to the Fore to Address Parking Related IssuesTransformational Role of IoT Expands ITS Application AreasAdvanced In-Vehicle Infotainment Systems Render Support to ITS NetworksPublic-Private Collaborations Support ITS DevelopmentGovernment Policy Vis-a-vis ITS Projects: Critical for ITS ImplementationsPrivate Sector Purchases Set to IncreaseThe Secret of Success of ITS Projects Lies in “Concept Selling”Rapidly Evolving Role of Cellular Networks in ITS: A Major Ongoing Trend5G to Widen the Role of Cellular Connectivity in ITS EcosystemDynamic Roadside Signs for Providing Information about Truck Parking Space AvailabilitySuper Intelligent Transport Systems Emerge to Redefine ITS ConceptAmalgamation of Technologies Key to Success of ITSTechnology Developers & Authorities Seek to Bring Forward Interoperability StandardsKey Objective Areas of the Common StandardsAutomated Electronic Toll Collection Makes its Way into the ITS DomainPositive Outlook for ETC Systems MarketGrowing Popularity of Road User Charging Brightens Market Prospects for ETCNeed to Avoid Lengthy Waiting Lines & Environmental Pollution at Toll Plazas Drives DemandInnovation & Market Differentiation – Key Determinants for Success of ETC ProjectsLower Operational Costs of ETC Systems Enable Increased AcceptanceSmart Cards in Demand for ETC SystemsCooperative ITS Promises to Change the Face of Urban TransportationEurope Remains at the Forefront of C-ITS Efforts WorldwideV2X Gains Notable Attention to Alleviate Traffic ConcernsConnected Vehicles Pave the Way for Wider Uptake of V2X TechnologiesV2X Technology Improves Vehicle TelematicsATMS Witness Greater AdoptionGSMA Issues Guidelines for Spectrum Considerations in ITSRoad Safety Cameras Augment ITS CapabilitiesRole of Master Plans and Common StandardsGrowing Data Volumes to Drive Use of Data Analytics in ITSUsing Open Data & Big Data to Improve ITS ServicesImplications of Open Data in Designing ITS ServicesBig Data Applications Raise Privacy Concerns in ITSProtection for ITS Vital to Prevent Cyber AttacksKey Issues to Reckon withPotential Risks & Threats to Smart Vehicles and ITS NetworksRegional Differences in ITS Services Adoption PersistPrivacy ConcernsLow Awareness Levels on Benefits of ITSMyths about Red Light Cameras Limits its Adoption
FOCUS ON SELECT PLAYERS (Total 162 Featured)
Cisco Systems, Inc.Advantech Co., Ltd.Axis Communications ABAselsan A.S.Applied Information, Inc.Activu CorporationBentley Systems, Inc.Cellint Traffic SolutionsAtkinsChina ITS (Holdings) Co., Ltd.Aptiv PLCAtlantia SpABestMile SABeijing Wanji TechnologyBusmatick Group
For more information about this report visit https://www.researchandmarkets.com/r/kv9s2
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