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Global Intelligent Transportation Systems (ITS) Strategic Business Report 2024: Market to Reach $52.6 Billion by 2030 – Increasing Number of Mega Cities Favors Future Growth

DUBLIN, Feb. 19, 2024 /PRNewswire/ — The “Intelligent Transportation Systems (ITS) – Global Strategic Business Report” report has been added to  ResearchAndMarkets.com’s offering.

Global Intelligent Transportation Systems (ITS) Market to Reach $52.6 Billion by 2030

The global market for Intelligent Transportation Systems (ITS) estimated at US$27.4 Billion in the year 2022, is projected to reach a revised size of US$52.6 Billion by 2030, growing at a CAGR of 8.5% over the analysis period 2022-2030.

Advanced Traffic Management System (ATMS), one of the segments analyzed in the report, is projected to record a 9.1% CAGR and reach US$19.1 Billion by the end of the analysis period. Growth in the Advanced Traveler Information System (atis) segment is estimated at 7.1% CAGR for the next 8-year period.

The U.S. Market is Estimated at $10.7 Billion, While China is Forecast to Grow at 12.3% CAGR

The Intelligent Transportation Systems (ITS) market in the U.S. is estimated at US$10.7 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$6.2 Billion by the year 2030 trailing a CAGR of 12.3% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.3% and 7.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 7.7% CAGR.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

MARKET OVERVIEW

  • From Pandemic to War & Inflation: “Gloomy Outlook for 2023 Despite Signs of Easing Inflationary Conditions”
  • Here’s How Inflationary Pressures Affect the Economy
  • Russia-Ukraine War, the Primary Culprit Responsible for the Hardships
  • Although Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should Continue
  • Here’s What’s Causing Inflationary Pressures in the Global Market
  • Effect of the Pandemic on Transportation Industry
  • COVID-19 Necessitates Profound Changes in Travel Patterns
  • Pandemic Holds Hidden Opportunity for Intelligent Transportation System
  • Pandemic Creates Need for Resilient Transportation System
  • COVID-19 Brings Forth Need for Intelligent Transportation Systems amid Certain Limitations
  • Competitive Scenario
  • Select Innovations & Advancements
  • Competitive Market Presence – Strong/Active/Niche/Trivial for 162 Players Worldwide in 2023 (E)
  • Intelligent Transportation System: A Cornerstone Technology for Smart Transportation
  • ITS Empowering the Real Modern Day Transport Infrastructure
  • Rationale behind Installation of ITS
  • Key ITS Capabilities in a Capsule
  • Enhancing Efficiency & Economy of Transport Systems
  • Ensuring Safety & Security
  • Key Result Areas of ITS in Ensuring Safety
  • ‘ITS’ as a Means for Ensuring Better Environment Quality
  • Internet, X Ray and DSRC: The Key ITS Enablers
  • Global Market Prospects & Outlook
  • Developed Markets: Traditional Revenue Contributors for ITS Market
  • Developing Markets to Turbo Charge Future Growth in the ITS Market
  • Intelligent Transportation Systems (ITS): An Introduction
  • Different Phases of ITS Application
  • Broad Classification of Intelligent Transportation Systems
  • In Vehicle Intelligent Transportation Systems: A Complimentary Review
  • Recent Market Activity
  • Select Global Brands

MARKET TRENDS & DRIVERS

  • Market Scenario in a Nutshell
  • As a Novel Platform Capable of Enabling Future-Proof Traffic Management, ITS Set to Widen its Addressable Market
  • Continued Rise in Vehicular Traffic and Need to Regulate Traffic Flow: A Business Case for ITS Investments
  • Growing Number of Road Accidents and Need to Ensure on-Road Safety to Commuters Drives Business Case for ITS
  • Focus on Smart Highways and Smart Roads to Enhance ITS Deployments
  • Growing Investments in Road Infrastructure Development
  • Heightened Focus on Integrating Diverse Technologies Set to Streamline ITS Landscape
  • Prevailing Technological Trends Fully Support Deployments of Large-Scale ITS
  • Rapid Urbanization Triggers Growth in the ITS Market
  • Increasing Number of Mega Cities Favors Future Growth
  • Major Global Cities Leading the Way in Deployment of Intelligent Transportation Systems
  • Growing Smart City Market to Drive Demand for ITS
  • How Intelligent Transportation Systems Benefits Smart Cities?
  • Capabilities to Improve Logistics Drives Adoption of ITS
  • Growing Emphasis on Smart Transportation Widens Prospects
  • Smart Parking Technologies Come to the Fore to Address Parking Related Issues
  • Transformational Role of IoT Expands ITS Application Areas
  • Advanced In-Vehicle Infotainment Systems Render Support to ITS Networks
  • Public-Private Collaborations Support ITS Development
  • Government Policy Vis-a-vis ITS Projects: Critical for ITS Implementations
  • Private Sector Purchases Set to Increase
  • The Secret of Success of ITS Projects Lies in “Concept Selling”
  • Rapidly Evolving Role of Cellular Networks in ITS: A Major Ongoing Trend
  • 5G to Widen the Role of Cellular Connectivity in ITS Ecosystem
  • Dynamic Roadside Signs for Providing Information about Truck Parking Space Availability
  • Super Intelligent Transport Systems Emerge to Redefine ITS Concept
  • Amalgamation of Technologies Key to Success of ITS
  • Technology Developers & Authorities Seek to Bring Forward Interoperability Standards
  • Key Objective Areas of the Common Standards
  • Automated Electronic Toll Collection Makes its Way into the ITS Domain
  • Positive Outlook for ETC Systems Market
  • Growing Popularity of Road User Charging Brightens Market Prospects for ETC
  • Need to Avoid Lengthy Waiting Lines & Environmental Pollution at Toll Plazas Drives Demand
  • Innovation & Market Differentiation – Key Determinants for Success of ETC Projects
  • Lower Operational Costs of ETC Systems Enable Increased Acceptance
  • Smart Cards in Demand for ETC Systems
  • Cooperative ITS Promises to Change the Face of Urban Transportation
  • Europe Remains at the Forefront of C-ITS Efforts Worldwide
  • V2X Gains Notable Attention to Alleviate Traffic Concerns
  • Connected Vehicles Pave the Way for Wider Uptake of V2X Technologies
  • V2X Technology Improves Vehicle Telematics
  • ATMS Witness Greater Adoption
  • GSMA Issues Guidelines for Spectrum Considerations in ITS
  • Road Safety Cameras Augment ITS Capabilities
  • Role of Master Plans and Common Standards
  • Growing Data Volumes to Drive Use of Data Analytics in ITS
  • Using Open Data & Big Data to Improve ITS Services
  • Implications of Open Data in Designing ITS Services
  • Big Data Applications Raise Privacy Concerns in ITS
  • Protection for ITS Vital to Prevent Cyber Attacks
  • Key Issues to Reckon with
  • Potential Risks & Threats to Smart Vehicles and ITS Networks
  • Regional Differences in ITS Services Adoption Persist
  • Privacy Concerns
  • Low Awareness Levels on Benefits of ITS
  • Myths about Red Light Cameras Limits its Adoption

FOCUS ON SELECT PLAYERS (Total 162 Featured)

  • Cisco Systems, Inc.
  • Advantech Co., Ltd.
  • Axis Communications AB
  • Aselsan A.S.
  • Applied Information, Inc.
  • Activu Corporation
  • Bentley Systems, Inc.
  • Cellint Traffic Solutions
  • Atkins
  • China ITS (Holdings) Co., Ltd.
  • Aptiv PLC
  • Atlantia SpA
  • BestMile SA
  • Beijing Wanji Technology
  • Busmatick Group

For more information about this report visit https://www.researchandmarkets.com/r/kv9s2

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SOURCE Research and Markets

Originally published at https://www.prnewswire.com/news-releases/global-intelligent-transportation-systems-its-strategic-business-report-2024-market-to-reach-52-6-billion-by-2030—increasing-number-of-mega-cities-favors-future-growth-302064951.html
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