Intelligent Transportation Systems (ITS) Global Strategic Industry Report 2024: Market to Reach $52.6 Billion by 2030 - Focus on Smart Highways and Smart Roads to Enhance ITS Deployments

Dublin, April 23, 2024 (GLOBE NEWSWIRE) -- 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.*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 739
Forecast Period 2022 - 2030
Estimated Market Value (USD) in 2022 $27.4 Billion
Forecasted Market Value (USD) by 2030 $52.6 Billion
Compound Annual Growth Rate 8.5%
Regions Covered Global
*MARKET OVERVIEW*

· 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
· Highways: Global Cumulative Investments in Roadways Vs Actual Need for the Period 2016-2040 (In US$ Billion)
· 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/5bqo2m

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· Intelligent Transportation Systems (ITS) Market

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