Global Intelligent Transportation Systems Market Size was estimated at USD 20.12 billion in 2015 and is anticipated to witness a steep rise by generating an estimated revenue of US$ XX.XX over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 5.12% during the forecast period, i.e. 2017-2025.

Global Intelligent Transportation Systems Market Growth Opportunities (Revenue, Growth) By 2017-2025

Intelligent Transportation Systems is an advanced application that aims to provide innovative services of different modes of transport and traffic management, and enable users to be informed, more coordinated, use of transport networks. Intelligent transport systems vary in technologies applied, from basic management systems such as car navigation; traffic signal control systems; container management systems; variable message signs; and automatic number plate recognition. Improved traffic efficiency enables transportation authorities to respond to emergencies more quickly. Utilization of these systems improves efficiency in traffic management and decreases travel duration.

Market Dynamics

Intelligent Transportation Systems market was valued at USD 20.12 billion in 2015. The market is expected to grow at a faster pace during the forecast period. The Intelligent Transportation Systems market is primarily driven by rising adoption of the ITS for advanced safety to reduce road fatalities. The trend to enhance road network and infrastructure in the developing countries to benefit the market growth in the coming years. Additionally, the increasing number of road mishaps, need of traffic management, and government regulations that support the emphasis of ITS to augment the market growth.

However, high cost of implementation of these systems, and need of standardization for the use of systems to impede the market growth in the coming years.

Segment Analysis 

Based on the material type, the Intelligent Transportation Systems market is segmented as Advanced Traveler Information Systems (ATIS), Advanced Transportation Management Systems (ATMS), Advanced Transportation Pricing Systems (ATPS), Advanced Public Transportation Systems (APTS), Cooperative Vehicle Systems, and Automatic Number Plate Recognition Systems (ANPR).

On the basis of application, the Intelligent Transportation Systems market is segmented as Traffic Management, Road Safety and Surveillance, Freight Management, Public Transport, Environment Protection, Automotive Telematics, Parking Management, Road User Charging, and Automated Vehicles.

Regional Analysis

North America to hold the largest market share in this industry, owning to the presence of the key players in this region, and government initiatives along with promotional activities are likely to spur the ITS market in North America over the forecast period. The Intelligent Transportation Society of America (ITS America) is involved in research, development, and deployment of ITS to enhance surface transportation systems in U.S. Some of the successful ITS projects in the region include the Advanced Regional Traffic Interactive Management and Information System (ARTIMIS), Arterial Street Signal Interconnect, Philadelphia, PA, and Georgia Navigator.

Global Intelligent Transportation Systems Market Size, Share Analysis By Region 2017

Asia Pacific is expected to be the fastest growing Intelligent Transportation Systems market demand due to this growth can be attributed to increase in deployment of ITS in countries such as India, China, and Australia. For instance, the Chinese government is focusing on deployment of innovative transportation with emphasis on intelligent vehicles and intelligent transportation throughout the forecast period. Middle East and Africa market gaining attraction of the investment for the companies for more scope in the regions and expected to rise healthy growth over the forecast period.

Global Intelligent Transportation Systems Market Study Objective

1. To forecast the market size of intelligent transportation systems market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of intelligent transportation systems market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of intelligent transportation systems market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of intelligent transportation systems market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the intelligent transportation systems market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

7. Analysis of market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

8. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

Bottom-up and top-down are two main approaches that were taken into account to anticipate and validate the market size of intelligent transportation systems market, and to reach the anticipated market size of several dependent submarkets. The research and study involved massive utilization of secondary data sources, several directories, private and government websites, and authentic databases, to collect or gather market-oriented as well as technical information for the study of intelligent transportation systems market commercially.

Key Players

Major players operating in global intelligent transportation systems market include Iteris Inc., Kapsch TrafficCom AG, TomTom NV, Thales Group, Q-Free ASA, Garmin International Inc., Hitachi, Garmin International, TomTom N.V., WS Atkins PLC, Nuance Communications Incorporation, Siemens AG, EFKON AG, and Telenav Inc.

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