The Business Research Company’s report on the Intelligent Transport System Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the intelligent transport system market further?
The increasing number of road accidents is expected to propel the growth of the intelligent transport system market going forward. An accident refers to a collision involving at least one vehicle on a public road that results in at least one person being hurt or killed. ITS applications, such as traffic signal control systems, speed cameras, and road safety cameras, help monitor and enforce traffic rules, ensuring that drivers follow road safety regulations. For instance, in September 2022, according to the National Highway Traffic Safety Administration, an agency of the U.S. federal government, part of the Department of Transportation, an estimated 20,175 persons lost their lives in on-road car accidents in the first half of 2022 in the US, a 0.5% increase from 2021. Therefore, the increasing number of road accidents is driving the intelligent transport system market.
Access Your Free Sample of the Global Intelligent Transport System Market Report – Get Insights Now!
https://www.thebusinessresearchcompany.com/sample.aspx?id=10213&type=smp
What are the key factors influencing the forecasted market size of the intelligent transport system industry?
The intelligent transport system market size has grown rapidly in recent years. It will grow from$36.34 billion in 2024 to $40.2 billion in 2025 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to government initiatives, increased safety concerns, environmental sustainability, rising vehicle ownership, urbanization trends
The intelligent transport system market size is expected to see rapid growth in the next few years. It will grow to “$63.04 billion in 2029 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to emergence of autonomous vehicles, iot integration, smart city initiatives, environmental regulations, public-private partnerships. Major trends in the forecast period include integration of ai and machine learning, connected vehicle technologies, electrification and sustainable mobility, cybersecurity in transportation, data analytics for traffic optimization.
Gain Exclusive Market Insights—Customize Your Research Report Today For Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=10213&type=smp
Who are the leading competitors in the intelligent transport system market?
Major companies operating in the intelligent transport system market include Thales Group, Siemens AG, Garmin International Inc., Kapsch TrafficCom AG, TomTom International BV, Denso Corporation, Efkon GmbH, Ricardo plc, Lanner Inc., Q-Free ASA, TransCore, Atkins Group, Iteris Inc., Savari Inc., Teledyne FLIR LLC, IBM Corporation, Addco LLC, Cubic Corporation, Alstom SA, Hitachi Ltd., Indra Sistemas S.A., Advantech Co. Ltd., Nuance Communications Inc., Conduent Incorporate, Cohda Wireless, Sensys Networks Inc., Rapid Flow Technologies Inc., Verra Mobility, Xerox Corporation
Which emerging trends are set to transform the intelligent transport system market landscape?
Major companies operating in intelligent transport systems are developing innovative products such as Onboard Driver Assistance and Warning System (ODAWS) to improve highway infrastructure and road safety by providing real-time notifications to the driver. Onboard Driver Assistance and Warning System (ODAWS) is an indigenous system developed as part of the Intelligent Transportation System (ITS) under the InTranSE-II program by the Ministry of Electronics and Information Technology (MeitY) in India. For instance, in April 2022, the Ministry of Electronics and Information Technology (MeitY), an India-based government agency, launched Intelligent Transportation Systems (ITS) solutions for traffic. The project involves the development of various sub-modules, including the navigational unit, driver assistance console, and mmWave radar sensor. An indigenous Onboard Driver Assistance and Warning System (ODAWS), Bus Signal Priority System, and Common SMart IoT Connectiv (CoSMiC) software launched as part of this initiative. The ODAWS aims to boost road safety by providing real-time notifications to the driver. Bus Signal Priority System will modify normal traffic signal operations to better accommodate public transport.
How do different geographies compare in terms of market share and growth potential in the intelligent transport system market?
North America was the largest region in the intelligent transport system market in 2024. The regions covered in the intelligent transport system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Order Your Report Now For Swift Delivery
https://www.thebusinessresearchcompany.com/report/intelligent-transport-system-global-market-report
Which major segments of the intelligent transport system market are experiencing the fastest growth?
The intelligent transport system market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By System: Advanced Traffic Management Systems (ATMS), Advanced Traveler Information Systems (ATIS), Advanced Transportation Pricing Systems (ATPS), Advanced Public Transportation Systems (APTS), Emergency Medical Systems (EMS)
3) By Mode of Transport: Roadways, Railways, Airways
4) By Application: Intelligent Traffic Control, Collision Avoidance, Parking Management, Ticketing Management, Automotive Telematics, Fleet Management And Asset Monitoring, Other Applications
Subsegments:
1) By Hardware: Traffic Sensors, CCTV Cameras, Variable Message Signs (VMS), Communication Equipment, Electronic Toll Collection Systems
2) By Software: Traffic Management Software, Fleet Management Software, Public Transport Management Software, Incident Management Software, Data Analytics Software
3) By Services: Consulting Services, System Integration Services, Maintenance And Support Services, Training And Education Services, Managed Services
Purchase The Exclusive Report Now To Unlock Valuable Market Insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=10213
How is the intelligent transport system market defined, and what are its core characteristics?
Intelligent Transport System (ITS) is a combination of advanced technologies and communication systems to improve the efficiency, safety, and sustainability of transportation systems. It seeks to increase traffic efficiency and reducing traffic issues by allowing customers access to historical data on traffic, nearby conveniences, real-time running information, seat availability.
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
https://thebusinessresearchcompany.com/
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
