Intelligent Transportation System Industry Overview
The global Intelligent Transportation System market size was valued at USD 51.16 billion in 2023 and is expected to grow at a significant CAGR of 8.5% from 2023 to 2030. Growing demand for traffic control solutions smart vehicles, the improved safety and monitoring offered by License Plate Recognition (LPRs), modern cameras, and the emergence of smart cities, are contributing to the growth. Intelligent Transportation System (ITS) provides traffic management solutions that enable enhanced road safety, traffic flow, and mobility, creating a positive market outlook. The COVID-19 pandemic hampered the implementation projects and new ITS sales installations in 2020. However, the ITS market witnessed significant growth from mid-2021 owing to increasing investment by various countries' governments in infrastructure development activities to recover the pandemic-affected economy.
Gather more insights about the market drivers, restrains and growth of the Intelligent Transportation System Market
The growing number of vehicles, boats, planes rails, aging infrastructure, and a looming lack of traffic data management are some of the other factors anticipated to contribute to the ITS market’s growth. As a result, the rising need for traffic management solutions across various transport modes such as airways, maritime, roadways railways has triggered the need for advanced traffic management solutions. The implementation of smart technologies and several efforts have been taken by both public and private organizations by varying measures, demonstrating the role of technology will help in the intelligent transportation system market growth.
Expanding rail networks across the globe to address the rising need for efficient public transportation networks is creating robust opportunities for the intelligent transportation system market. The players operating in the ITS market focus on enhancing transportation through the railway network by establishing strategic partnerships with the technology providers. For instance, in October 2023, freight railroad company CSX Corporation collaborated with digital technology automation company Siemens AG for railway traffic optimization across more than 20,000 miles of track in North America using Siemens AG’s TPS.live, rail traffic network optimization solution, and Controlguide Core Dispatch System (CDS).
For ITS setup, which includes Traffic Management Center (TMC), can deal with real-time data and assist vehicles in finding alternate ways to reduce traffic congestion. This system also guides planes and boats for better route optimizations especially amid some natural disasters such as thunderstorm, floods, and heavy rain. This TMC implementation includes a set of video surveillance systems, sensors, weather detection system, vehicle probes, navigation systems, and other systems components. The data collected through devices is analyzed, processed, and communicated to the user through dynamic signboards, the internet, or mobile telephony. Integration of intelligent vehicles and ITS enables dynamic traffic signal control. Taking into account information from connected cars, signals can be adapted to the current traffic situation in real time. This helps optimize signal times and improve traffic flow. Advancements in sensing and telecommunications technologies are particularly expected to encourage the adoption of the ITS over the forecast period. However, the growing preference for digitization of various attributes for implementing intelligent transport system (ITS) solutions is one of the major factors for the ITS market’s growth.
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- The global smart cities market size was valued at USD 748.7 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 25.8% from 2023 to 2030.
- The global automotive telematics market size was valued at USD 49.85 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 16.6% from 2023 to 2030.
Intelligent Transportation System Market Segmentation
Grand View Research has segmented the global intelligent transportation system market based on mode of transportation, roadway offering, roadway system type, roadway application, railway offering, railway system type, railway application, airway offering, airway system type, airway application, maritime offering, maritime system type, maritime application, and region:
ITS Mode Of Transportation Outlook (Revenue, USD Billion, 2018 - 2030)
- Roadway
- Railway
- Airway
- Maritime
ITS Roadway Offering Outlook (Revenue, USD Billion, 2018 - 2030)
- Hardware
- Software
- Services
ITS Roadway System Type Outlook (Revenue, USD Billion, 2018 - 2030)
- Advanced Traveler Information System (ATIS)
- Advanced Traffic Management System (ATMS)
- Advanced Transportation Pricing System (ATPS)
- Advanced Public Transportation System (APTS)
- Emergency Medical System (EMS)
ITS Roadway Application Outlook (Revenue, USD Billion, 2018 - 2030)
- Traffic Management
- Road Safety And Security
- Freight Management
- Public Transport
- Environment Protection
- Automotive Telematics
- Parking Management
- Road Tolling Systems
- Others
ITS Railway Offering Outlook (Revenue, USD Billion, 2018 - 2030)
- Hardware
- Software
- Services
ITS Railway System Type Outlook (Revenue, USD Billion, 2018 - 2030)
- Advanced Traveler Information System (ATIS)
- Advanced Traffic Management System (ATMS)
- Advanced Transportation Pricing System (ATPS)
- Advanced Public Transportation System (APTS)
- Emergency Medical System (EMS)
ITS Railway Application Outlook (Revenue, USD Billion, 2018 - 2030)
- Rail-running Operation And Collision Avoidance
- Passenger Information Management
- Smart Ticketing
- Security Surveillance
- Emergency Notification
- Others
ITS Airway Offering Outlook (Revenue, USD Billion, 2018 - 2030)
- Hardware
- Software
- Services
ITS Airway System Type Outlook (Revenue, USD Billion, 2018 - 2030)
- Advanced Traveler Information System (ATIS)
- Advanced Traffic Management System (ATMS)
- Advanced Transportation Pricing System (ATPS)
- Advanced Public Transportation System (APTS)
- Emergency Medical System (EMS)
ITS Airway Application Outlook (Revenue, USD Billion, 2018 - 2030)
- Security Surveillance
- Shuttle Bus Tracking
- Traveler Information Management
- Aircraft Traffic Management
- Smart Ticketing
- Emergency Notification
- Others
ITS Maritime Offering Outlook (Revenue, USD Billion, 2018 - 2030)
- Hardware
- Software
- Services
ITS Maritime System Type Outlook (Revenue, USD Billion, 2018 - 2030)
- Advanced Traveler Information System (ATIS)
- Advanced Traffic Management System (ATMS)
- Advanced Transportation Pricing System (ATPS)
- Advanced Public Transportation System (APTS)
- Emergency Medical System (EMS)
ITS Maritime Application Outlook (Revenue, USD Billion, 2018 - 2030)
- Freight Arrival Transit
- Real-time Weather Information Tracking
- Container Movement Scheduling
- Emergency Notification
- Others
ITS Regional Outlook (Revenue, USD Billion; 2018 - 2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- UAE
- Saudi Arabia
- South Africa
Key Companies profiled:
- Advantech Co., Ltd.
- Aireon
- Alstom SA
- Cubic Corporation
- EFKON GmbH
- Hitachi, Ltd.
- Indra Sistemas, S.A.
- Iteris, Inc.
- Kapsch TrafficCom AG
- KONGSBERG
- Lanner
- L3Harris Technologies, Inc.
- Navico Group
- NEC Corporation
- Siemens AG
- Spire Global
- Teledyne Technologies Incorporated
- Thales
- TransCore
- Wabtec Corporation
Key Intelligent Transportation System Company Insights
The key players operating in the intelligent transportation system (ITS) market include Thales Group; Hitachi, Ltd.;NEC Corporation; Siemens AG; and others.
- Thales Group has a diverse portfolio of solutions spanning various aspects of transportation, including traffic management, rail signaling, communication systems, navigation, and aerospace. This comprehensive range allows Thales to offer end-to-end solutions for complex ITS requirements.
- NEC Corporation provides advanced traffic management systems that leverage real-time data, analytics, and communication technologies. These systems aim to optimize traffic flow, reduce congestion, and enhance overall transportation efficiency.
Spire Global, TransCore and others are the emerging players operating in the intelligent transportation system market.
- Spire Global's satellite-based data collection capabilities could be utilized for traffic monitoring and analytics. This might involve obtaining real-time data on traffic patterns, congestion, and road conditions from a satellite perspective.
- TransCore offers traffic management and control solutions to optimize the flow of traffic, reduce congestion, and improve overall transportation efficiency. This includes systems for adaptive traffic signal control, real-time monitoring, and dynamic message signs.
Recent Developments
- In July 2023, Hitachi Rail, a division of Hitachi, Ltd., announced the expansion of its digital transport app named 360Pass. Based on this development, Hitachi Rail signed a new contract with Genoa’s (U.S.) city transit authority to connect Genoa's whole public transport infrastructure, including 600,000 citizens and 3,500,000 annual visitors, with the 360-pass digital transport app.
- In August 2023, Hitachi Rail, a division of Hitachi, Ltd., announced that it had won a contract worth USD 1.96 billion to design and implement digital signaling systems and tracks for a new High Speed/Capacity (HS/C) line traversing the Italian city of Vicenza.
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