Intelligent Transportation System Trends and Forecast
The future of the global intelligent transportation system market looks promising with opportunities in the roadway, railway, waterway, and airway markets. The global intelligent transportation system market is expected to reach an estimated $75.5 billion by 2030 with a CAGR of 8.7% from 2024 to 2030. The major drivers for this market are increased necessity for reducing traffic congestion, rising government measures to ensure public and road safety, and high use of environmental friendly car technologies.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Intelligent Transportation System by Segment
The study includes a forecast for the global intelligent transportation system by component, application, end use, and region.
Intelligent Transportation System Market by Component [Shipment Analysis by Value from 2018 to 2030]:
• Hardware
• Software
• Services
Intelligent Transportation System Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Ticketing and Tolling System
• Traffic Management
• Freight Management
• Advanced Traveler Information System
• Advanced Public Transportation System
• Security and Surveillance
• Others
Intelligent Transportation System Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Roadways
• Railways
• Waterways
• Airways
Intelligent Transportation System Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Intelligent Transportation System Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies intelligent transportation system companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the intelligent transportation system companies profiled in this report include-
• Alstom
• Cubic Transportation Systems
• Thales Group
• Siemens
• DENSO
• Navico Group
• Teledyne FLIR
• Garmin
• Kapsch TrafficCom
• NEC
Intelligent Transportation System Market Insights
Lucintel forecasts that hardware will remain the largest segment over the forecast period.
Within this market, roadway will remain the largest segment.
APAC is expected to witness highest growth over the forecast period because it is a perfect solution for several difficulties such as traffic congestion, air pollution, greenhouse gas emissions, and road accidents in the region, as well as, deployment of intelligent transportation systems has financial advantages.
Features of the Global Intelligent Transportation System Market
Market Size Estimates: Intelligent transportation system market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Intelligent transportation system market size by component, application, end use, and region in terms of value ($B).
Regional Analysis: Intelligent transportation system market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different component, application, end use, and regions for the intelligent transportation system market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the intelligent transportation system market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the intelligent transportation system market size?
Answer: The global intelligent transportation system market is expected to reach an estimated $75.5 billion by 2030.
Q2. What is the growth forecast for intelligent transportation system market?
Answer: The global intelligent transportation system market is expected to grow with a CAGR of 8.7% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the intelligent transportation system market?
Answer: The major drivers for this market are increased necessity for reducing traffic congestion, rising government measures to ensure public and road safety, and high use of environmental friendly car technologies.
Q4. What are the major segments for intelligent transportation system market?
Answer: The future of the global intelligent transportation system market looks promising with opportunities in the roadway, railway, waterway, and airway markets.
Q5. Who are the key intelligent transportation system market companies?
Answer: Some of the key intelligent transportation system companies are as follows:
• Alstom
• Cubic Transportation Systems
• Thales Group
• Siemens
• DENSO
• Navico Group
• Teledyne FLIR
• Garmin
• Kapsch TrafficCom
• NEC
Q6. Which intelligent transportation system market segment will be the largest in future?
Answer: Lucintel forecasts that hardware will remain the largest segment over the forecast period.
Q7. In intelligent transportation system market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period because it is a perfect solution for several difficulties such as traffic congestion, air pollution, greenhouse gas emissions, and road accidents in the region, as well as, deployment of intelligent transportation systems has financial advantages.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the intelligent transportation system market by component (hardware, software, and services), application (ticketing and tolling system, traffic management, freight management, advanced traveler information system, advanced public transportation system, security and surveillance, and others), end use (roadways, railways, waterways, and airways), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Intelligent Transportation System Market, Intelligent Transportation System Market Size, Intelligent Transportation System Market Growth, Intelligent Transportation System Market Analysis, Intelligent Transportation System Market Report, Intelligent Transportation System Market Share, Intelligent Transportation System Market Trends, Intelligent Transportation System Market Forecast, Intelligent Transportation System Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.