Global Intelligent Transport System Market, By Offering (Hardware, Software, Services), System (Advanced Traffic Management System, Advanced Traveler Information System, Others), Application (Fleet Management and Asset Monitoring System, Intelligent Traffic System, Collision Avoidance System, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Intelligent Transport System Market
The intelligent transport system market is expected to witness market growth at a rate of 9.05% in the forecast period of 2021 to 2028. Data Bridge Market Research report on intelligent transport system market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the demand from various industry verticals is escalating the growth of intelligent transport system market.
Intelligent transportation system (ITS) refers to the application of analysis, communications, sensing and control technologies in transportation for enhancing mobility, efficiency and safety. These technologies can be applied to various modes of transport railways, airways and roadways. These are used for technologies in the regulation, communication, identification and analysis for ground transportation purposes for improving portability, well-being and expertise.
The increase in traffic congestion across the globe acts as one of the major factors driving the growth of intelligent transport system market. The surge in demand for smart vehicles integrated with the latest telecommunications technology, and eminent need to efficiently manage the traffic flow across city corridors and highways accelerate the market growth. The use of innovative and advanced data analytics technologies among transportation authorities to address the issue of growing traffic, and rise in favorable government initiatives for effective traffic management further influence the market. Additionally, rapid urbanization, growth in population, adoption of ecofriendly automobile technology and development of smart cities positively affect the intelligent transport system market. Furthermore, designing and developing smart vehicles compatible with ITS, and increase in public–private partnerships (PPPs) extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, high cost associated with the installation and slow-growing infrastructure sector are expected to obstruct the market. Issues with achieving interoperable and standard ITS architecture are projected to challenge the intelligent transport system market in the forecast period of 2021-2028.
This intelligent transport system market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on intelligent transport system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Intelligent Transport System Market Scope and Market Size
The intelligent transport system market is segmented on the basis of offering, system and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of offering, the intelligent transport system market is segmented into hardware, software and services.
- On the basis of system, the intelligent transportation system market is segmented into advanced traffic management system, advanced traveler information system, ITS-enable transportation pricing system, advanced public transportation system and commercial vehicle operation.
- On the basis of application, the intelligent transport system market is segmented into fleet management and asset monitoring system, intelligent traffic system, collision avoidance system, parking management system, passenger information system, ticketing management system, emergency vehicle notification system and automotive telematics system.
Intelligent Transport System Market Country Level Analysis
The intelligent transportation system market is analyzed and market size, volume information is provided by country, offering, system and application as referenced above.
The countries covered in the intelligent transportation system market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the intelligent transportation system market due to the improving transportation infrastructure and implementation of the latest and advanced technologies within the region. Asia-Pacific is expected to witness highest growth during the forecast period of 2021 to 2028 because of the expansion of transportation networks in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Intelligent Transport System Market Share Analysis
The intelligent transportation system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to intelligent transportation system market.
The major players covered in the intelligent transportation system market report are Thales Group, Siemens AG, Garmin Ltd., Kapsch Trafficcom, Tomtom International BV, Q-Free ASA, Denso Corporation, Efcon AG, Lanner Electronics, Savari Inc., Transcore Inc., Iteris Inc., Atkins Group, Ricardo Plc., 3M, Hitachi, Nuance Communications Incorporation, Telenav Inc. and Lanner Electronics Inc., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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