Intelligent Transport System Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR41630
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The intelligent transport system (ITS) market size has the potential to grow by USD 33.83 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 9.54%. 

This report provides a detailed analysis of the market by application (traffic management, toll management, automotive and infotainment telematics, public transport, and others), geography (North America, Europe, APAC, South America, and MEA), and key vendors. 

Market Overview

Intelligent-Transport-System-(ITS)-Market-Market-Size-2020-2025

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • EFKON GmbH
  • Hitachi Ltd.
  • Kapsch TrafficCom AG
  • Neology Inc.
  • Q-Free ASA
  • Robert Bosch GmbH
  • Roper Technologies Inc.
  • Siemens AG
  • Thales Group
  • TomTom International BV

 

The ITS market is fragmented and the vendors are deploying growth strategies such as building brands and brand equity to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as increasing traffic congestion and road accidents to achieve growth opportunities. However, factors such as system integration and interoperability issues will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the intelligent transport system market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This intelligent transport system market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Intelligent Transport System (ITS) Market: Key Drivers and Trends

  • The increasing traffic congestion and road accidents will fuel the growth of the intelligent transport system market size.
  • Growing urbanization and the ever-rising use of automobiles, primarily because of the rising middle-class population and their increasing disposable income, are intensifying traffic congestion. 
  • Government organizations in developing countries implement ITS solutions such as congestion charging, road user charging, and electronic toll collection to control traffic congestion.
  • Inadequate law enforcement, unsafe road infrastructure, and improper traffic management are the key reasons for road accidents in these countries.
  • With the increasing number of road accidents, the demand for smart traffic management systems (part of ITS solutions) is rising.
  • The growth in number of smart connected devices is one of the significant factors responsible for ITS market growth.
  • ITS solutions require connected devices such as cellular communication devices, portable navigation devices, and media players.
  • Intelligent transportation systems simultaneously use data from various technologies, such as RFID, sensors, barcodes, and GPS, through a single channel.
  • These technologies help in efficiently monitoring and managing physical assets in many applications.
  • For instance, RFID helps manage and maintain toll systems on highways. This increases the efficiency of a tooling system and improves business values.
  • In addition, enterprises such as logistics are significantly improving business processes with the adoption of the Internet of Things (IoT) systems.

 

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Intelligent Transport System (ITS) Market: Segmentation by Geography

Intelligent-Transport-System-(ITS)-Market-Market-Share-by-Region-2020-2025

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31% of the market’s growth will originate from North America during the forecast period. The US is a key market for intelligent transport systems in North America. However, market growth in North America will be slower than the growth of the market in other regions.

The increased adoption of ITS solutions by end-user industries, shift from conventional transportation systems to intelligent transportation systems, growth in end-user industries, government initiatives for the implementation of ITS solutions, and the rising number of smart cities will facilitate the intelligent transport system market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Intelligent Transport System (ITS) Market: Segmentation by Application

Intelligent-Transport-System-(ITS)-Market-Market-Share-by-Application-2020-2025

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Traffic management ITS solutions mainly include advanced traffic management systems (ATMS). ATMS solutions are used by government authorities and departments such as municipalities, government agencies, and state and regional governments. Growing traffic congestion worldwide is increasing the demand for ATMS. A key factor responsible for growing traffic congestion, and growing demand for ATMS is the rising number of automobiles across the world. However, the intelligent transport system market share growth by the traffic management segment will be slower than the toll management, automotive and infotainment telematics, and public transport segments. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the intelligent transport system market size.

 

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Intelligent Transport System (ITS) Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive intelligent transport system market growth during the next five years
  • Precise estimation of the ITS market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the intelligent transport system industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of intelligent transport system market vendors

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Intelligent Transport System (ITS) Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 10%

Market growth 2021-2025

$ 33.83 billion

Market structure

Fragmented

YoY growth (%)

8.75

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 31%

Key consumer countries

US, Japan, China, UK, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

EFKON GmbH, Hitachi Ltd., Kapsch TrafficCom AG, Neology Inc., Q-Free ASA, Robert Bosch GmbH, Roper Technologies Inc., Siemens AG, Thales Group, and TomTom International BV

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Impact of COVID-19 on IT sector
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Traffic management - Market size and forecast 2020-2025
    • Toll management - Market size and forecast 2020-2025
    • Automotive and infotainment telematics - Market size and forecast 2020-2025
    • Public transport - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by Application

    Customer landscape

    • Overview

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • North America - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • APAC - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Overview
    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • EFKON GmbH
    • Hitachi Ltd.
    • Kapsch TrafficCom AG
    • Neology Inc.
    • Q-Free ASA
    • Robert Bosch GmbH
    • Roper Technologies Inc.
    • Siemens AG
    • Thales Group
    • TomTom International BV

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
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    The intelligent transport system (its) market growth will increase by $32.47 billion during 2019-2024.
    The intelligent transport system (its) market is expected to grow at a CAGR of 9.50% during 2019-2024.
    Technavio has segmented the intelligent transport system (its) market by application (Traffic management, Toll management, Automotive and infotainment telematics, Public transport, Others, Transportation, Machinery, Metal fabrication, Consumer goods, and Others) and geographic (North America, Europe, APAC, and South America).
    3M Co., Hitachi Ltd., International Business Machines Corp., Kapsch TrafficCom AG, Neology Inc., Q-Free ASA, Roper Technologies Inc., Siemens AG, Thales Group, TomTom International BV are a few of the key vendors in the intelligent transport system (its) market.
    North America will register the highest growth rate of 32.49% among the other regions. Therefore, the intelligent transport system (its) market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the intelligent transport system (its) market growth are:
    • Increasing traffic congestion and road accidents
    • Wind power capacity additions
    The intelligent transport system (its) market vendors should focus on grabbing business opportunities from the traffic management segment as it accounted for the largest market share in the base year.
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