Dublin, Aug. 23, 2022 (GLOBE NEWSWIRE) -- The "Intelligent Transportation Systems (ITS) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Intelligent Transportation Systems (ITS) Market to Reach $39.5 Billion by 2026
Global Intelligent Transportation Systems market is projected to register healthy growth over the near-to-long term. The market, estimated at US$27 Billion in 2022 is projected to reach US$49.5 Billion by 2026, registering a compounded annual growth rate (CAGR) of 8.8% over the analysis period.
With the help of advanced traffic monitoring systems, data is transmitted to the appropriate authorities for readying rescue teams on time and the motoring public to keep track of possible delays or dangers on the road via VMS (variable message signs), HAR (highway advisory radio) or broadcast radio traffic reports.
ITS, entailing the application of information, communication, sensor and control systems to improve surface transportation systems` performance, can be classified into areas that address different transportation requirements such as travel security, reliability, higher mobility and lowered traffic jams.
The technology comprises of traffic signal controls, electronic fare payment and constantly updated traveler data in conjunction with multimodal scheduling data. Superior navigation, communications, operations monitoring and data-collecting technologies are applied to improve the mobility, security and efficiency of transportation.
Traveler management systems help in easing congestion on roads and in significantly reducing the response times in case of emergencies. 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 United States represents the largest regional market for Intelligent Transportation Systems, accounting for an estimated 39.1% share of the global total. The market, estimated at US$10.5 Billion in 2022 is projected to reach US$15.9 Billion by the close of the analysis period.
China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 14.2% over the analysis period. The market is expected to progress steadily to evolve as a major regional market for Intelligent Transportation Systems, supported by various factors conducive to healthy growth.
What`s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the digital archives
- Complimentary updates for one year
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Effect of the Pandemic on Transportation Industry
- COVID-19 Necessitates Profound Changes in Travel Patterns
- COVID-19 Holds Hidden Opportunity for Intelligent Transportation System
- Pandemic Creates Need for Resilient Transportation System
- COVID-19 Brings Fourth Need for Intelligent Transportation Systems amid Certain Limitations
- Enabling Technologies
- Different Phases of ITS Application
- Segment Overview
- Advanced Traffic Management Systems (ATMS)
- Electronic Toll Collection Systems
- Other Intelligent Transportation Systems
- Public Vehicle Transportation Management Systems (PVTMS)
- Commercial Vehicle Operations (CVO) Systems
- Advanced Vehicle Information Systems (AVIS)
- Understanding Load Tracking System
- In Vehicle Intelligent Transportation Systems: A Complimentary Review
- Passenger Vehicle Applications
- Commercial Vehicle Applications
- Adopting Alliance as a Growth Strategy
- Outlook
- Intelligent Transportation System: A Cornerstone Technology for Smart Transportation
- ITS Empowering the Real Modern Day Transport Infrastructure
- Rationale behind Installation of ITS
- Key ITS Capabilities in a Capsule
- Enhancing Efficiency & Economy of Transport Systems
- Ensuring Safety & Security
- Key Result Areas of ITS in Ensuring Safety
- Internet, X Ray and DSRC: The Key ITS Enablers
- A Disparate Market
- Market Scenario
- Developed Markets: Traditional Revenue Contributors for ITS Market
- Developing Markets to Turbo Charge Future Growth in the ITS Market
- Intelligent Transportation Systems (ITS) - Global Key Competitors Percentage Market Share in 2022 (E)
- Transportation Management Systems Market Share Breakdown of Key Players: 2020E
- Transportation Software Global Competitor Market Share Positioning for 2020E
- Recent Market Activity
- Select Innovations & Advancements
- Global Brands of Select Region
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS (Total 161 Featured):
- Accenture
- Citilog SA
- Conduent Business Services, LLC
- Cubic Corporation
- Denso Corporation
- EFKON AG
- emovis
- FLIR Systems, Inc.
- Hitachi Vantara Corporation
- IBM Corporation
- Image Sensing Systems Inc.
- INIT Innovation in Traffic Systems SE
- Intelight Inc.
- Iteris, Inc.
- ItraMAS Corporation Sdn Bhd
- Kapsch TrafficCom AG
- LeddarTech Inc.
- Q-Free ASA
- Siemens AG
- SpeedInfo, Inc.
- SWARCO AG
- Telenav, Inc.
- TransCore Holdings, Inc.
3. MARKET TRENDS & DRIVERS
- As a Novel Platform Capable of Enabling Future-Proof Traffic Management, ITS Set to Widen its Addressable Market
- Continued Rise in Vehicular Traffic and Need to Regulate Traffic Flow: A Business Case for ITS Investments
- Breakdown of Annual Hours of Delay Due to Traffic Congestions in Select Countries & Cities Worldwide
- Growing Number of Road Accidents and Need to Ensure on-Road Safety to Commuters Drives Business Case for ITS
- Focus on Smart Highways and Smart Roads to Enhance ITS Deployments
- The Growing Need to Bridge Infrastructure Gap Which is the Highest for Roadways Promises Robust Opportunity for Smart
- Growing Investments in Road Infrastructure Development
- Continuous Development of World's Highways to Expand Market Opportunities for ITS & Allied Markets
- Heightened Focus on Integrating Diverse Technologies Set to Streamline ITS Landscape
- Prevailing Technological Trends Fully Support Deployments of Large-Scale ITS
- Rapid Urbanization Triggers Growth in the ITS Market
- Increasing Number of Mega Cities Favors Future Growth
- Major Global Cities Leading the Way in Deployment of Intelligent Transportation Systems
- Growing Smart City Market to Drive Demand for ITS
- Capabilities to Improve Logistics Drives Adoption of ITS
- Growing Emphasis on Smart Transportation Widens Prospects
- Smart Parking Technologies Come to the Fore to Address Parking Related Issues
- Transformational Role of IoT Expands ITS Application Areas
- Advanced In-Vehicle Infotainment Systems Render Support to ITS Networks
- Public-Private Collaborations Support ITS Development
- Government Policy Vis-a-vis ITS Projects: Critical for ITS Implementations
- Private Sector Purchases Set to Increase
- The Secret of Success of ITS Projects Lies in "Concept Selling"
- Rapidly Evolving Role of Cellular Networks in ITS: A Major Ongoing Trend
- 5G to Widen the Role of Cellular Connectivity in ITS Ecosystem
- Dynamic Roadside Signs for Providing Information about Truck Parking Space Availability
- Super Intelligent Transport Systems Emerge to Redefine ITS Concept
- Technology Developers & Authorities Seek to Bring Forward Interoperability Standards
- Key Objective Areas of the Common Standards
- Automated Electronic Toll Collection Makes its Way into the ITS Domain
- Positive Outlook for ETC Systems Market
- Growing Popularity of Road User Charging Brightens Market Prospects for ETC
- Need to Avoid Lengthy Waiting Lines & Environmental Pollution at Toll Plazas Drives Demand
- Innovation & Market Differentiation - Key Determinants for Success of ETC Projects
- Lower Operational Costs of ETC Systems Enable Increased Acceptance
- Smart Cards in Demand for ETC Systems
- Cooperative ITS Promises to Change the Face of Urban Transportation
- Europe Remains at the Forefront of C-ITS Efforts Worldwide
- V2X Gains Notable Attention to Alleviate Traffic Concerns
- Connected Vehicles Pave the Way for Wider Uptake of V2X Technologies
- V2X Technology Improves Vehicle Telematics
- ATMS Witness Greater Adoption
- GSMA Issues Guidelines for Spectrum Considerations in ITS
- Road Safety Cameras Augment ITS Capabilities
- Role of Master Plans and Common Standards
- Growing Data Volumes to Drive Use of Data Analytics in ITS
- Using Open Data & Big Data to Improve ITS Services
- Implications of Open Data in Designing ITS Services
- Big Data Applications Raise Privacy Concerns in ITS
- Protection for ITS Vital to Prevent Cyber Attacks
- Key Issues to Reckon with
- Potential Risks & Threats to Smart Vehicles and ITS Networks
- Regional Differences in ITS Services Adoption Persist
- Privacy Concerns
- Low Awareness Levels on Benefits of ITS
- Myths about Red Light Cameras Limits its Adoption
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/b49fys
