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Global Intelligent Transport Systems Market 2021 Share, Growth by Top Company, Region, Application, Driver, Trends & Forecast

Intelligent Transport Systems

Intelligent Transport Systems Market” report provides strategic supports mentioned by the business specialists with market sources, amount of manufacturing cost structure, raw materials, forecasts, turnover, manufacturing outlays, latest market trends, labor cost, demands and much more. Intelligent Transport Systems market report covers a comprehensive market structure through the globe with an in-depth study of major dynamics (Drivers, Challenges, Opportunities).  

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Key Market Trends:

Applications in Roadways are Becoming very Popular

– Roadways is the fastest-growing sector in the intelligent transport systems market. The increasing number of commercial fleets all over the world due to the increasing e-commerce activities and manufacturing activities is encouraging many logistics players to deploy proper asset monitoring and management systems.
– Companies, like GE Capital and AT&T have adopted telematics fleet solutions for continuous monitoring of fleet and real-time location status, which helps these companies schedule trips that would reduce the cost of maintenance and increase the driver’s productivity.
– Countries like the United States, Germany, and India, have increased their investments in the intelligent transport systems and have established laws that make telematics installations mandatory in many of the vehicle segment. The major concern for road safety, as these countries face high accident mortality rates, is driving the growth of the ITS market.

North America Holds the Largest Market Share

– North America is the most advanced market for ITS. The region is equipped with several ITS systems in place, in order to manage the increasing traffic and public transportation system.
– The region is witnessing exponential growth in the sales of commercial drones, along with countries like the imposing strong laws on drone pilots and registrations. Hence it is expected to create a huge demand for ITS systems in the airways sector over the forecast period.
– In the case of passenger and commercial road vehicles, North America has a strong demand for dedicated short-range communication devices that prevent traffic jams, which is ultimately driving the demand for ITS systems in the region.

Market Overview:

  • The intelligent transport systems market was valued at USD 21.77 billion in 2018, and is expected to reach a value of USD 29.16 billion by 2024, at a CAGR of 5.11% over the forecast period (2019 – 2024).
  • – Intelligent transport systems refer to the advanced technologies that are being applied to vehicles, infrastructure, and operating systems, which make the vehicles intelligent. As ITS technologies are being used in various industries beyond transportation and logistics, the demand for such systems is increasing rapidly.
  • – Government regulations and initiatives are the most important drivers for the growth and development of the intelligent transportation system market. With growing road safety concerns and increasing vehicle theft, governments across the world, especially in the United States, , China, and Brazil among others are mandating the installation of factory-fitted telematics and safety devices in vehicles.
  • – Although such applications are increasing the demand for ITS across the world, the high cost of these systems is making it difficult for many manufacturers to keep the prices of the end-product low, leading to slow market penetration.

    Key Manufacturers Like 

  • Siemens AG
  • Thales Group
  • IBM Corporation
  • Garmin International Inc
  • Addco LLC
  • TomTom NV
  • Cubic Corporation
  • FLIR Systems
  • Lanner Electronics Inc.
  • Denso Corporation.

    Scope of the Report:

  • Intelligent transportation system (ITS) is the application of sensing, analysis, control, and communications technologies in transportation in order to improve safety, mobility, and efficiency. They can be applied to different modes of transport like roadways, railways, airways.

    Intelligent Transport Systems market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Intelligent Transport Systems market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Intelligent Transport Systems market have also been involved in the study.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

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    Key Questions Answered in Market Report: –

    • What will the market growth rate, Overview and Analysis by Type of Intelligent Transport Systems market in 2023?
    • What are the key factors driving, Analysis by Applications and Countries Intelligent Transport Systems market?
    • What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Intelligent Transport Systems ?
    • Who are Opportunities, Risk and Driving Force of Intelligent Transport Systems market? Knows Upstream Raw Materials Sourcing and Downstream Buyers
    • Who are the opportunities and threats faced by the vendors in Intelligent Transport Systems space? Business Overview by Type, Applications, Gross Margin and Market Share
    • What are the Intelligent Transport Systems market opportunities, market risk and market overview of the Market?

    Lastly, the Global Intelligent Transport Systems Market Research covers a complete market structure across the world with a comprehensive analysis of major key factors. This report provides planned orientations referred by the industry experts.

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    Study objectives of Intelligent Transport Systems Market Report:

    • To provide a detailed analysis of the market structure along with the Intelligent Transport Systems market forecast of various segments and sub-segments of the Intelligent Transport Systems market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Intelligent Transport Systems market trends that influence the global Intelligent Transport Systems market

    Detailed TOC of Intelligent Transport Systems Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Increasing Demand for Efficient Traffic Management
    4.3.2 Growing Adoption of Smart Parking Management Systems
    4.4 Market Restraints
    4.4.1 Complexity Regarding Interoperability between User & Control Unit
    4.5 Value Chain Analysis
    4.6 Industry Attractiveness – Porter’s Five Forces Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Mode of Transport
    5.1.1 Roadways
    5.1.2 Railways
    5.1.3 Airways
    5.2 By Type
    5.2.1 Advanced Traffic Management Systems (ATMS)
    5.2.2 Advanced Transportation Pricing System (ATPS)
    5.2.3 Advanced Traveler Information System (ATIS)
    5.2.4 Advanced Public Transportation System (APTS)
    5.2.5 Other Types
    5.3 By Deployment Mode
    5.3.1 On-Premise
    5.3.2 Cloud
    5.4 Geography
    5.4.1 North America
    5.4.2
    5.4.3 Asia-Pacific
    5.4.4 Rest of the World

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Siemens AG
    6.1.2 Thales Group
    6.1.3 IBM Corporation
    6.1.4 Garmin International Inc
    6.1.5 Addco LLC
    6.1.6 TomTom NV
    6.1.7 Cubic Corporation
    6.1.8 FLIR Systems
    6.1.9 Lanner Electronics Inc.
    6.1.10 Denso Corporation

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

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