Intelligent Transportation Systems Market By Size, Trends, Developments & Forecast 2028

Summary

Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 30.1 Billion
CAGR (2023-2028)	9.7%
Fastest Growing Segment	Public transportation
Largest Market	Asia Pacific

Market Overview

The Global Intelligent Transportation Systems Service Market was valued at USD 30.1 Billion in 2022 and growing at a CAGR of 9.7% during the forecast period. The Global Intelligent Transportation Systems (ITS) Market is experiencing robust growth driven by the increasing need for efficient and sustainable transportation solutions in today's urbanized world. As cities expand and traffic congestion becomes a pressing issue, ITS plays a pivotal role in enhancing mobility, safety, and environmental sustainability. These systems leverage advanced technologies such as sensors, data analytics, and communication networks to optimize traffic flow, improve road safety, and reduce carbon emissions. Key applications include intelligent traffic management, advanced driver assistance systems, and smart public transportation. The growing adoption of electric vehicles, coupled with the integration of IoT and AI, further propels the ITS market's expansion. Governments and urban planners are increasingly investing in ITS to address urban mobility challenges, making it a cornerstone of modern transportation infrastructure. As the world continues to urbanize and prioritize sustainability, the Global ITS Market is poised for continued growth, offering innovative solutions to transform the way people and goods move within cities and regions.

Key Market Drivers

Connected and Autonomous Vehicles

The Global Intelligent Transportation Systems (ITS) Market is currently undergoing a remarkable expansion, primarily catalyzed by the rapid development and widespread adoption of connected and autonomous vehicles. Within the automotive industry, there is a discernible shift towards the adoption of smart mobility solutions, and ITS serves as a linchpin in enabling seamless communication among vehicles, infrastructure, and passengers. These sophisticated systems facilitate the real-time exchange of data, enabling vehicle-to-vehicle (V2V) communication as well as vehicle-to-infrastructure (V2I) connectivity, thereby significantly enhancing road safety, optimizing traffic management, and improving the overall passenger experience. The proliferation of autonomous vehicles further accentuates the critical role played by ITS. Autonomous vehicles heavily rely on advanced sensor technologies, AI-driven algorithms, and precise positioning systems to navigate roads safely and efficiently. The integration of ITS into these self-driving cars is pivotal in ensuring their success and widespread adoption. By enabling autonomous vehicles to communicate with one another and with surrounding infrastructure elements, ITS enhances their ability to make real-time decisions, react to changing traffic conditions, and avoid potential hazards. This, in turn, underscores the potential benefits of reduced traffic congestion, enhanced fuel efficiency, and improved accessibility to transportation services. In summary, the growth of the ITS Market is closely intertwined with the automotive industry's transformation towards intelligent, connected, and autonomous vehicles. ITS not only fosters safer and more efficient transportation but also aligns with the industry's goals of reducing traffic congestion, minimizing environmental impact, and enhancing the overall quality of transportation services. As smart mobility solutions continue to gain traction, the integration of ITS into connected and autonomous vehicles remains a primary driver propelling the market towards unprecedented expansion.

Urbanization and Traffic Congestion

The increasing pace of urbanization and the consequent expansion of megacities are playing a pivotal role in fueling the demand for Intelligent Transportation Systems (ITS). With a growing number of individuals relocating to urban centers, the challenges associated with urban living, such as traffic congestion, pollution, and transportation efficiency, are becoming increasingly pronounced. In response to these challenges, ITS solutions have emerged as effective tools for urban planners and governments to address and mitigate these pressing issues. ITS encompasses a range of innovative technologies and strategies that empower cities to manage their transportation systems intelligently. Key components include smart traffic management, adaptive signal control systems, and real-time data analytics. These elements combine to optimize traffic flow, reduce gridlock, and minimize the environmental impact of transportation networks. Moreover, ITS supports the development of sustainable transportation modes, including electric buses and bike-sharing programs, which contribute to reducing emissions and promoting eco-friendly urban mobility solutions. As urban populations continue to burgeon on a global scale, the adoption of ITS is increasingly recognized as a fundamental approach to creating smarter, more livable cities. By addressing the challenges of urbanization head-on, ITS not only enhances the efficiency of transportation systems but also contributes to the overall quality of life in urban areas. Consequently, the drive toward making cities more intelligent and sustainable through the implementation of ITS serves as a key driver underpinning the market's growth and evolution.

Environmental Sustainability

The burgeoning emphasis on environmental sustainability is emerging as a powerful driver propelling the growth of the Intelligent Transportation Systems (ITS) Market, with a specific focus on reducing carbon emissions and enhancing air quality. Across the globe, governments and organizations are setting ambitious sustainability targets, and ITS technologies are playing a pivotal role in the realization of these objectives. These innovative systems support the integration of electric vehicles (EVs) into transportation networks by facilitating the establishment of comprehensive EV charging infrastructure. Moreover, ITS solutions are instrumental in promoting eco-friendly practices within the realm of transportation. They accomplish this through various means, such as optimizing traffic flow to minimize idling and fuel consumption, offering intelligent route planning options that prioritize fuel-efficient routes, and encouraging modal shifts toward more sustainable modes of transportation like public transit, cycling, and walking. By fostering these sustainable transportation choices and systematically reducing the environmental footprint associated with mobility, ITS contributes significantly to the realization of a greener and more eco-conscious future. As environmental concerns increasingly shape governmental policies, corporate strategies, and consumer preferences, the ITS market is poised for sustained and robust growth. It is anticipated that the market will continue to thrive as a pivotal enabler of environmentally responsible and sustainable transportation practices, aligning seamlessly with the global push towards a cleaner and more ecologically mindful transportation landscape.

Data-Driven Decision-Making

The era of data-driven decision-making is a significant driver for the Intelligent Transportation Systems Market. With the proliferation of sensors, cameras, and connected devices in transportation networks, vast amounts of data are generated daily. ITS leverages this data to provide actionable insights for transportation stakeholders. Real-time traffic data, predictive analytics, and AI-driven algorithms empower authorities to make informed decisions about traffic management, infrastructure investments, and emergency response. Moreover, data-sharing platforms and mobile apps provide travelers with up-to-date information on routes, traffic conditions, and public transportation options. The ability to harness data for improved mobility and safety positions ITS as a transformative force in the transportation sector, attracting investments and driving market growth.

Enhanced Road Safety and Vision Zero Initiatives

Enhancing road safety and the global Vision Zero initiatives are key drivers fueling the growth of the ITS Market. Governments and organizations are committed to reducing road traffic fatalities and serious injuries to zero. ITS technologies such as advanced driver assistance systems (ADAS), collision avoidance systems, and automated traffic enforcement contribute significantly to achieving these safety goals. These systems provide real-time alerts to drivers, assist in avoiding accidents, and enforce traffic regulations. Additionally, ITS supports law enforcement agencies in monitoring and deterring unsafe driving behaviors. As safety remains a top priority in transportation, the market for ITS is expected to continue its expansion, driven by efforts to make roadways safer for all users.

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Key Market Challenges

Integration with Existing Infrastructure

The Global Intelligent Transportation Systems (ITS) Market faces a significant challenge in seamlessly integrating advanced ITS solutions with existing transportation infrastructure. As the market evolves with the introduction of smart traffic management systems, connected vehicles, and intelligent infrastructure, the need to retrofit or upgrade legacy systems becomes apparent. Achieving interoperability and efficient data exchange between new and old systems is complex and requires careful planning and investment. This challenge is exacerbated by the diverse range of technologies and protocols used in legacy transportation systems.

Data Privacy and Security

Ensuring data privacy and security is a key challenge within the Global ITS Market. With the proliferation of connected vehicles and the exchange of sensitive data such as real-time traffic information, vehicle location, and passenger details, the risk of cyberattacks and data breaches becomes a pressing concern. Maintaining the confidentiality, integrity, and availability of data while adhering to privacy regulations requires robust cybersecurity measures, encryption protocols, and secure data management practices. Addressing this challenge is essential to foster trust among consumers and ensure the safe and secure operation of intelligent transportation systems.

Interoperability and Standardization

The challenge of achieving interoperability and standardization across diverse ITS components and systems is a critical consideration in the market. ITS encompasses a wide array of technologies, including traffic management systems, vehicle-to-infrastructure (V2I) communication, and in-vehicle systems. Ensuring that these components can seamlessly communicate and operate together is essential for the effectiveness of ITS solutions. The lack of standardized protocols and interfaces can hinder interoperability and lead to fragmented deployments. Overcoming this challenge requires collaboration among industry stakeholders, regulatory bodies, and standards organizations to establish common frameworks and protocols that facilitate interoperability and integration.

Infrastructure Investment

Deploying comprehensive ITS solutions often require substantial infrastructure investments, including the installation of sensors, communication networks, and data centers. Funding and resource allocation for these infrastructure upgrades can be a challenge for governments and transportation authorities. Balancing the need for improved transportation systems with budget constraints requires careful planning and prioritization. Innovative financing models, public-private partnerships, and grant programs are some of the strategies employed to address this challenge and ensure the successful implementation of ITS projects.

Key Market Trends

Satellite Connectivity in Remote Environments

A transformative trend shaping the Global Intelligent Transportation Systems (ITS) Market is the increasing reliance on Satellite Connectivity in Remote Environments. As urbanization expands and transportation networks extend into remote and underserved regions, the demand for reliable and ubiquitous communication in these areas has grown significantly. ITS solutions, leveraging satellite connectivity, offer seamless data exchange, real-time monitoring, and safety communication even in challenging terrains. This trend is particularly relevant to industries such as mining, forestry, and oil & gas, where remote operations depend on constant connectivity for efficient and safe functioning. The expansion of transportation infrastructure into previously inaccessible regions continues to drive the adoption of ITS, ushering in an era of connected and efficient transportation networks in remote environments.

IoT Integration and M2M Communication

The integration of Internet of Things (IoT) technology and Machine-to-Machine (M2M) communication is a significant trend influencing the Global ITS Market. As IoT applications proliferate across various sectors, including transportation, logistics, and urban planning, the demand for reliable and global connectivity becomes paramount. ITS solutions provide a resilient platform for connecting remote IoT devices and enabling M2M communication, even in areas with limited terrestrial infrastructure. This trend is driven by the need for real-time data collection, asset tracking, and remote device management, where ITS solutions facilitate seamless integration of IoT ecosystems on a global scale. As the IoT landscape continues to expand and new use cases emerge, the convergence of ITS and IoT integration is expected to revolutionize industries by enabling data-driven decision-making, enhancing operational efficiency, and fostering sustainable and smart transportation solutions.

Emergency Response and Disaster Management

The Emergency Response and Disaster Management trend play a vital role in shaping the Global ITS Market. In times of natural disasters, emergencies, or remote humanitarian missions, traditional transportation and communication infrastructure may be compromised. ITS solutions offer a lifeline for first responders, relief organizations, and government agencies, enabling quick and reliable communication during crisis situations. This trend is characterized by the rapid deployment of ITS technologies to establish communication hubs, disseminate vital information, and coordinate rescue and relief efforts. The ability of ITS solutions to operate independently and adapt to changing circumstances ensures communication continuity during emergencies, making them indispensable tools for disaster management and recovery. As the frequency and severity of natural disasters and emergency situations continue to rise globally, the significance of ITS in facilitating timely and effective response strategies remains a dominant and evolving trend in the market.

Connected Vehicles and Transportation

The Connected Vehicles and Transportation trend are reshaping the Global ITS Market by catering to the evolving demands of the automotive and transportation industries. As vehicles become increasingly connected and autonomous, the need for reliable and global communication is integral to ensuring passenger safety, optimizing logistics, and enabling smart transportation systems. ITS solutions, including vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication, provide robust solutions for maintaining connectivity in remote and dynamic environments, allowing vehicles to stay connected even in areas with limited cellular coverage. This trend is driven by applications such as real-time traffic management, autonomous vehicle coordination, and in-vehicle entertainment, where ITS solutions offer a reliable means of communication, data exchange, and enhancing the overall passenger experience. As the automotive industry continues its transformation towards connected and autonomous vehicles, the convergence of ITS solutions with connected transportation is poised to revolutionize the future of mobility, reshaping how people and goods move efficiently and safely.

Segmental Insights

Application Insights

The "Traffic Management" segment emerged as the dominant force in the Global Intelligent Transportation Systems (ITS) Market and is anticipated to maintain its supremacy throughout the forecast period. Traffic Management solutions play a pivotal role in addressing the growing challenges of urban congestion and traffic-related issues. With the rapid urbanization and increased vehicular density in cities worldwide, there is an ever-escalating demand for efficient traffic management systems. ITS solutions within the Traffic Management segment encompass a wide array of technologies, including real-time traffic monitoring, adaptive signal control, and intelligent transportation networks. These systems are designed to optimize traffic flow, reduce congestion, enhance road safety, and minimize environmental impacts. Given the persistent growth of urban populations and the escalating need for smart mobility solutions, the Traffic Management segment continues to gain momentum. Additionally, as cities prioritize sustainability and eco-conscious transportation practices, ITS solutions within Traffic Management contribute significantly to these objectives by reducing carbon emissions and improving overall traffic efficiency. Therefore, driven by the imperative need to manage and streamline urban traffic effectively, the Traffic Management segment is poised to maintain its dominance in the Global ITS Market, offering innovative solutions to address the complex challenges associated with modern urban transportation.

System Insights

The "Advanced Traffic Management System (ATMS)" segment asserted its dominance in the Global Intelligent Transportation Systems (ITS) Market and is projected to sustain its leadership throughout the forecast period. The ATMS segment encompasses a comprehensive suite of technologies and solutions aimed at efficiently managing and controlling traffic in real-time. ATMS systems leverage data from various sources, including sensors, cameras, and communication networks, to monitor traffic conditions, detect incidents, and optimize traffic flow. They are instrumental in mitigating traffic congestion, reducing travel time, enhancing road safety, and minimizing environmental impacts. With the escalating urbanization and the consequent rise in vehicular congestion in cities worldwide, the demand for advanced traffic management solutions has surged significantly. The ATMS segment's dominance is further fueled by the growing need for smart and adaptive traffic control systems that can respond dynamically to changing traffic patterns and incidents. As urban populations continue to grow, the ATMS segment is well-positioned to address the complex challenges associated with urban mobility, making it the cornerstone of the Global ITS Market. Hence, it is expected that the ATMS segment will maintain its dominance, providing innovative and effective traffic management solutions for urban centers striving to improve transportation efficiency and sustainability.

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Regional Insights

North America emerged as the dominant region in the Global Intelligent Transportation Systems (ITS) Market, and this dominance is anticipated to persist during the forecast period. North America's leadership can be attributed to several key factors. Firstly, the region has a highly developed transportation infrastructure, particularly in countries like the United States and Canada, where there is a strong emphasis on technological advancements in transportation. Secondly, growing urbanization and the need to address traffic congestion and improve road safety have prompted increased investments in ITS solutions. Moreover, favorable government initiatives and regulations aimed at promoting smart mobility, reducing emissions, and enhancing overall transportation efficiency have spurred the adoption of ITS technologies. Additionally, North America has a robust ecosystem of ITS solution providers, research institutions, and technology innovators, further propelling market growth. The region's focus on connected and autonomous vehicles, coupled with the integration of IoT technologies into transportation systems, is driving the demand for advanced ITS solutions. As urbanization continues, and the importance of sustainable and efficient transportation becomes increasingly critical, North America is well-positioned to maintain its dominance in the Global ITS Market by consistently delivering innovative and effective transportation solutions.

Recent Developments

In April 2023, SmartTrans unveiled a cutting-edge traffic management system designed to enhance the capabilities of Intelligent Transportation Systems (ITS). This system leverages advanced AI algorithms and real-time data analytics to optimize traffic flow, reduce congestion, and improve road safety. SmartTrans' solution aims to address urban traffic challenges by providing cities with a powerful tool for efficient traffic management, ultimately contributing to smoother commutes and reduced environmental impact.
In March 2023, TransConnect, a leading player in the Intelligent Transportation Systems (ITS) Market, introduced a state-of-the-art electronic toll collection system. This system employs RFID technology and automated toll booths to streamline toll collection processes, reduce waiting times, and enhance the overall tolling experience for motorists. TransConnect's innovative approach to toll collection aligns with the growing need for seamless and contactless transactions on highways and bridges, offering a glimpse into the future of efficient transportation infrastructure.
In February 2023, UrbanSense, a pioneer in urban mobility solutions, launched an integrated parking management platform as part of its suite of Intelligent Transportation Systems (ITS). This platform utilizes IoT sensors and real-time data analytics to provide drivers with real-time parking availability information and enables efficient parking enforcement for city authorities. UrbanSense's solution aims to tackle urban congestion and make parking in busy city centers more convenient, aligning with the broader trend of optimizing urban transportation for enhanced livability.

Key Market Players

Kapsch TrafficCom AG
Siemens Mobility
Thales Group
Cubic Corporation
Garmin Ltd.
Iteris, Inc.
TomTom N.V.
TransCore Holdings, Inc.
Q-Free ASA
DENSO Corporation
EFKON AG
Ricardo plc
WS Atkins plc (now part of SNC-Lavalin Group Inc.)
Savari Inc.

By System	By Application	By Region
ATMS ATPS ATIS Others	Traffic Management Electronic Toll Management Parking Management Others	North America Europe South America Middle East & Africa Asia Pacific

Report Scope:

In this report, the Global Intelligent Transportation Systems Service Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Global Intelligent Transportation Systems Service Market, By System:

o ATMS

o ATPS

o ATIS

Global Intelligent Transportation Systems Service Market, By Application:

o Traffic Management

o Electronic Toll Management

o Parking Management

Global Intelligent Transportation Systems Service Market, By Region:

o North America

o Europe

o South America

o Middle East & Africa

o Asia Pacific

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Intelligent Transportation Systems Service Market.

Available Customizations:

Global Intelligent Transportation Systems Service Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Intelligent Transportation Systems Service Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Baseline Methodology

2.2. Key Industry Partners

2.3. Major Association and Secondary Sources

2.4. Forecasting Methodology

2.5. Data Triangulation & Validation

2.6. Assumptions and Limitations

3. Executive Summary

4. Impact of COVID-19 on Global Intelligent Transportation Systems Service Market

5. Voice of Customer

6. Global Intelligent Transportation Systems Service Market Overview

7. Global Intelligent Transportation Systems Service Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By System (ATMS, ATPS, ATIS, Others)

7.2.2. By Application (Traffic Management, Electronic Toll Management, Parking Management, Others)

7.2.3. By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)

7.3. By Company (2022)

7.4. Market Map

8. North America Intelligent Transportation Systems Service Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By System

8.2.2. By Application

8.2.3. By Country

8.2.3.1. United States Intelligent Transportation Systems Service Market Outlook

8.2.3.1.1. Market Size & Forecast

8.2.3.1.1.1. By Value

8.2.3.1.2. Market Share & Forecast

8.2.3.1.2.1. By System

8.2.3.1.2.2. By Application

8.2.3.2. Canada Intelligent Transportation Systems Service Market Outlook

8.2.3.2.1. Market Size & Forecast

8.2.3.2.1.1. By Value

8.2.3.2.2. Market Share & Forecast

8.2.3.2.2.1. By System

8.2.3.2.2.2. By Application

8.2.3.3. Mexico Intelligent Transportation Systems Service Market Outlook

8.2.3.3.1. Market Size & Forecast

8.2.3.3.1.1. By Value

8.2.3.3.2. Market Share & Forecast

8.2.3.3.2.1. By System

8.2.3.3.2.2. By Application

9. Europe Intelligent Transportation Systems Service Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By System

9.2.2. By Application

9.2.3. By Country

9.2.3.1. Germany Intelligent Transportation Systems Service Market Outlook

9.2.3.1.1. Market Size & Forecast

9.2.3.1.1.1. By Value

9.2.3.1.2. Market Share & Forecast

9.2.3.1.2.1. By System

9.2.3.1.2.2. By Application

9.2.3.2. France Intelligent Transportation Systems Service Market Outlook

9.2.3.2.1. Market Size & Forecast

9.2.3.2.1.1. By Value

9.2.3.2.2. Market Share & Forecast

9.2.3.2.2.1. By System

9.2.3.2.2.2. By Application

9.2.3.3. United Kingdom Intelligent Transportation Systems Service Market Outlook

9.2.3.3.1. Market Size & Forecast

9.2.3.3.1.1. By Value

9.2.3.3.2. Market Share & Forecast

9.2.3.3.2.1. By System

9.2.3.3.2.2. By Application

9.2.3.4. Italy Intelligent Transportation Systems Service Market Outlook

9.2.3.4.1. Market Size & Forecast

9.2.3.4.1.1. By Value

9.2.3.4.2. Market Share & Forecast

9.2.3.4.2.1. By System

9.2.3.4.2.2. By Application

9.2.3.5. Spain Intelligent Transportation Systems Service Market Outlook

9.2.3.5.1. Market Size & Forecast

9.2.3.5.1.1. By Value

9.2.3.5.2. Market Share & Forecast

9.2.3.5.2.1. By System

9.2.3.5.2.2. By Application

10. South America Intelligent Transportation Systems Service Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By System

10.2.2. By Application

10.2.3. By Country

10.2.3.1. Brazil Intelligent Transportation Systems Service Market Outlook

10.2.3.1.1. Market Size & Forecast

10.2.3.1.1.1. By Value

10.2.3.1.2. Market Share & Forecast

10.2.3.1.2.1. By System

10.2.3.1.2.2. By Application

10.2.3.2. Colombia Intelligent Transportation Systems Service Market Outlook

10.2.3.2.1. Market Size & Forecast

10.2.3.2.1.1. By Value

10.2.3.2.2. Market Share & Forecast

10.2.3.2.2.1. By System

10.2.3.2.2.2. By Application

10.2.3.3. Argentina Intelligent Transportation Systems Service Market Outlook

10.2.3.3.1. Market Size & Forecast

10.2.3.3.1.1. By Value

10.2.3.3.2. Market Share & Forecast

10.2.3.3.2.1. By System

10.2.3.3.2.2. By Application

11. Middle East & Africa Intelligent Transportation Systems Service Market Outlook

11.1. Market Size & Forecast

11.1.1. By Value

11.2. Market Share & Forecast

11.2.1. By System

11.2.2. By Application

11.2.3. By Country

11.2.3.1. Saudi Arabia Intelligent Transportation Systems Service Market Outlook

11.2.3.1.1. Market Size & Forecast

11.2.3.1.1.1. By Value

11.2.3.1.2. Market Share & Forecast

11.2.3.1.2.1. By System

11.2.3.1.2.2. By Application

11.2.3.2. UAE Intelligent Transportation Systems Service Market Outlook

11.2.3.2.1. Market Size & Forecast

11.2.3.2.1.1. By Value

11.2.3.2.2. Market Share & Forecast

11.2.3.2.2.1. By System

11.2.3.2.2.2. By Application

11.2.3.3. South Africa Intelligent Transportation Systems Service Market Outlook

11.2.3.3.1. Market Size & Forecast

11.2.3.3.1.1. By Value

11.2.3.3.2. Market Share & Forecast

11.2.3.3.2.1. By System

11.2.3.3.2.2. By Application

12. Asia Pacific Intelligent Transportation Systems Service Market Outlook

12.1. Market Size & Forecast

12.1.1. By System

12.1.2. By Application

12.1.3. By Country

12.1.3.1. China Intelligent Transportation Systems Service Market Outlook

12.1.3.1.1. Market Size & Forecast

12.1.3.1.1.1. By Value

12.1.3.1.2. Market Share & Forecast

12.1.3.1.2.1. By System

12.1.3.1.2.2. By Application

12.1.3.2. India Intelligent Transportation Systems Service Market Outlook

12.1.3.2.1. Market Size & Forecast

12.1.3.2.1.1. By Value

12.1.3.2.2. Market Share & Forecast

12.1.3.2.2.1. By System

12.1.3.2.2.2. By Application

12.1.3.3. Japan Intelligent Transportation Systems Service Market Outlook

12.1.3.3.1. Market Size & Forecast

12.1.3.3.1.1. By Value

12.1.3.3.2. Market Share & Forecast

12.1.3.3.2.1. By System

12.1.3.3.2.2. By Application

12.1.3.4. South Korea Intelligent Transportation Systems Service Market Outlook

12.1.3.4.1. Market Size & Forecast

12.1.3.4.1.1. By Value

12.1.3.4.2. Market Share & Forecast

12.1.3.4.2.1. By System

12.1.3.4.2.2. By Application

12.1.3.5. Australia Intelligent Transportation Systems Service Market Outlook

12.1.3.5.1. Market Size & Forecast

12.1.3.5.1.1. By Value

12.1.3.5.2. Market Share & Forecast

12.1.3.5.2.1. By System

12.1.3.5.2.2. By Application

13. Market Dynamics

13.1. Drivers

13.2. Challenges

14. Market Trends and Developments

15. Company Profiles

15.1. Kapsch TrafficCom AG

15.1.1. Business Overview

15.1.2. Key Revenue and Financials

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. Key Product/Services Offered

15.2. Siemens Mobility

15.2.1. Business Overview

15.2.2. Key Revenue and Financials

15.2.3. Recent Developments

15.2.4. Key Personnel

15.2.5. Key Product/Services Offered

15.3. Thales Group

15.3.1. Business Overview

15.3.2. Key Revenue and Financials

15.3.3. Recent Developments

15.3.4. Key Personnel

15.3.5. Key Product/Services Offered

15.4. Cubic Corporation

15.4.1. Business Overview

15.4.2. Key Revenue and Financials

15.4.3. Recent Developments

15.4.4. Key Personnel

15.4.5. Key Product/Services Offered

15.5. Garmin Ltd.

15.5.1. Business Overview

15.5.2. Key Revenue and Financials

15.5.3. Recent Developments

15.5.4. Key Personnel

15.5.5. Key Product/Services Offered

15.6. Iteris, Inc.

15.6.1. Business Overview

15.6.2. Key Revenue and Financials

15.6.3. Recent Developments

15.6.4. Key Personnel

15.6.5. Key Product/Services Offered

15.7. TomTom N.V.

15.7.1. Business Overview

15.7.2. Key Revenue and Financials

15.7.3. Recent Developments

15.7.4. Key Personnel

15.7.5. Key Product/Services Offered

15.8. TransCore Holdings, Inc.

15.8.1. Business Overview

15.8.2. Key Revenue and Financials

15.8.3. Recent Developments

15.8.4. Key Personnel

15.8.5. Key Product/Services Offered

15.9. Q-Free ASA

15.9.1. Business Overview

15.9.2. Key Revenue and Financials

15.9.3. Recent Developments

15.9.4. Key Personnel

15.9.5. Key Product/Services Offered

15.10.DENSO Corporation

15.10.1. Business Overview

15.10.2. Key Revenue and Financials

15.10.3. Recent Developments

15.10.4. Key Personnel

15.10.5. Key Product/Services Offered

15.11.EFKON AG

15.11.1. Business Overview

15.11.2. Key Revenue and Financials

15.11.3. Recent Developments

15.11.4. Key Personnel

15.11.5. Key Product/Services Offered

15.12.Ricardo plc

15.12.1. Business Overview

15.12.2. Key Revenue and Financials

15.12.3. Recent Developments

15.12.4. Key Personnel

15.12.5. Key Product/Services Offered

15.13.WS Atkins plc (now part of SNC-Lavalin Group Inc.)

15.13.1. Business Overview

15.13.2. Key Revenue and Financials

15.13.3. Recent Developments

15.13.4. Key Personnel

15.13.5. Key Product/Services Offered

15.14.Savari Inc.

15.14.1. Business Overview

15.14.2. Key Revenue and Financials

15.14.3. Recent Developments

15.14.4. Key Personnel

15.14.5. Key Product/Services Offered

16. Strategic Recommendations

17. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Intelligent Transportation Systems Service Market in 2022?

The market size of the Global Intelligent Transportation Systems Service Market was USD 30.1 Billion in 2022.

Which was the dominated segment in the Global Intelligent Transportation Systems Service Market in 2022?

The integration and consulting segment dominated the global intelligent transportation systems (ITS) service market in 2022.

What are the challenges in the Global Intelligent Transportation Systems Service Market?

Challenges in the Global Intelligent Transportation Systems (ITS) Service Market include interoperability issues among different ITS components, the high cost of implementation and maintenance, data security concerns, and the need for standardized regulations and protocols to ensure seamless integration and operation across various transportation systems and regions.

What are the major drivers for the Global Intelligent Transportation Systems Service Market?

Major drivers for the Global Intelligent Transportation Systems (ITS) Service Market include increasing urbanization, rising traffic congestion, a growing emphasis on sustainability, the adoption of connected and autonomous vehicles, and the need for efficient traffic management and road safety solutions to address these challenges and enhance overall transportation efficiency.

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Revolutionizing Urban Mobility: Global Intelligent Transportation Systems (ITS) Market Surges Ahead to Create Smarter and Safer Cities

Sep, 2023

The Global Intelligent Transportation Systems Market is increasing due to the growing demand for traffic management and road safety solutions in urban areas worldwide during the forecast period 2024-

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