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Intelligent Transport System Market by Application and Geography - Forecast and Analysis 2020-2024

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR41630
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The intelligent transport system (its) market share is expected to increase by USD 32.47 billion from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of 9.5%.

This intelligent transport system (its) market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers intelligent transport system (its) market segmentations by application (traffic management, toll management, automotive and infotainment telematics, public transport, and others) and geography (North America, Europe, APAC, and South America). The intelligent transport system (its) market report also offers information on several market vendors, including 3M Co., Hitachi Ltd., International Business Machines Corp., Kapsch TrafficCom AG, Neology Inc., Q-Free ASA, Roper Technologies Inc., Siemens AG, Thales Group, and TomTom International BV among others.

What will the Intelligent Transport System (ITS) Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Intelligent Transport System (ITS) Market Size for the Forecast Period and Other Important Statistics

 

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

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing traffic congestion and road accidents is notably driving the intelligent transport system (its) market growth, although factors such as system integration and interoperability issues may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the intelligent transport system (its) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Intelligent Transport System (ITS) Market Driver

The increasing traffic congestion and road accidents is notably driving the global intelligent transport system market growth. In China, the middle-class population grew from 4% of the total population in 2000 to more than 30% in 2019. The disposable income of the Chinese population registered a growth of almost 6% in real terms between 2018 and 2019. Increased disposable income is fueling automobile sales and urbanization in developing countries. Increased vehicle sales and the rising urban population in Asian countries have triggered road traffic congestion. Improper traffic management, especially in developing regions, is another major factor for the increasing traffic congestion and rising number of road accidents. With the increasing number of road accidents, the demand for smart traffic management systems (part of ITS solutions) is rising.

Key Intelligent Transport System (ITS) Market Trend

Growth in the number of smart connected devices is the key market trend driving the global intelligent transport system market growth. ITS solutions extensively use smart connected devices. The increasing use of smart connected devices will fuel demand in the global ITS market. The number of smart connected devices installed across the world is expected to reach 21 billion by 2020. The conventional transport management system deploys multiple devices to perform the desired function. It makes it difficult to manage, monitor, and maintain data in an organization. This propels the demand for ITS as it helps end-users simplify the management, monitoring, and maintenance of connected devices.

Key Intelligent Transport System (ITS) Market Challenge

The major challenge impeding the global intelligent transport system market growth is the system integration and interoperability issues. Interoperability issues in the existing systems increase complexities and costs related to the deployment of ITS. The existing operational technology system lacks the integrational capability and, hence, tends to work in isolation. Interconnection in an existing infrastructure complicates seamless interoperability among disparate systems in an organization. This leads to high replacement costs to achieve alignment with the latest technologies. Interconnection in an existing infrastructure complicates seamless interoperability among disparate systems in an organization. This leads to high replacement costs to achieve alignment with the latest technologies.

This intelligent transport system (its) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global intelligent transport system (ITS) market is a part of the global information technology (IT) spending market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the intelligent transport system (its) market during the forecast period.

Who are the Major Intelligent Transport System (ITS) Market Vendors?

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

 

  • 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

 

This statistical study of the intelligent transport system (its) market encompasses successful business strategies deployed by the key vendors. The intelligent transport system (its) market is fragmented and the vendors are deploying growth strategies such as building brands and brand equity to differentiate themselves and to compete in the market.

Product Insights and News

  • 3M Co. - The company offers product such as 3M Diamond Grade DG3 Reflective Sign Sheeting - Series 4000 and 3M Stamark Wet Reflective.

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.

The intelligent transport system (its) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Intelligent Transport System (ITS) Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the intelligent transport system (its) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Intelligent Transport System (ITS) Market?

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32% of the market’s growth will originate from North America during the forecast period. The US is the key market for intelligent transport system (its) market in North America. Market growth in this region will be faster than the growth of the market in Europe.

Major factors contributing to the market in the region are the increased adoption of ITS solutions by end-user industries. This will facilitate the intelligent transport system (its) market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of the COVID-19 pandemic affected the regional market in 2020 due to nationwide lockdowns and disruptions in the supply chain. The US was one of the most severely affected countries by the COVID-19 pandemic in 2020. The exponential increase in the number of confirmed COVID-19 cases compelled the government to undertake measures to control the pandemic.

What are the Revenue-generating Application Segments in the Intelligent Transport System (ITS) Market?

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The intelligent transport system (its) market share growth by the traffic management segment will be significant during the forecast period. Traffic management ITS solutions mainly include advanced traffic management systems (ATMS).  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.

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

 

Intelligent Transport System (ITS) Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 9.5%

Market growth 2020-2024

$ 32.47 billion

Market structure

Fragmented

YoY growth (%)

8.49

Regional analysis

North America, Europe, APAC, and South America

Performing market contribution

North America at 32%

Key consumer countries

US, Japan, China, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

3M Co., Hitachi Ltd., International Business Machines Corp., Kapsch TrafficCom AG, Neology Inc., Q-Free ASA, 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 recovery analysis 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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What are the Key Data Covered in this Intelligent Transport System (ITS) Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive intelligent transport system (its) market growth during the next five years
  • Precise estimation of the intelligent transport system (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 (its) industry across North America, Europe, APAC, and South America
  • 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 (its) market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Impact of COVID-19 on IT sector
    • 2.3 Value chain analysis
      • Exhibit 03: Value chain analysis: Communications Equipment Market

    3 Market Sizing

    • 3.1 Market definition
      • Exhibit 04: Offerings of vendors included in the market definition
    • 3.2 Market segment analysis
      • Exhibit 05: Market segments
    • 3.3 Market size 2020
      • 3.4 Market outlook: Forecast for 2020 - 2025
        • Exhibit 06: Global - Market size and forecast 2020-2025 ($ billion)
        • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

      4 Five Forces Analysis

      • 4.1 Five forces summary
        • Exhibit 08: Five forces analysis 2020 & 2025
      • 4.2 Bargaining power of buyers
        • Exhibit 09: Bargaining power of buyers
      • 4.3 Bargaining power of suppliers
        • Exhibit 10: Bargaining power of suppliers
      • 4.4 Threat of new entrants
        • Exhibit 11: Threat of new entrants
      • 4.5 Threat of substitutes
        • Exhibit 12: Threat of substitutes
      • 4.6 Threat of rivalry
        • Exhibit 13: Threat of rivalry
      • 4.7 Market condition
        • Exhibit 14: Market condition - Five forces 2020

      5 Market Segmentation by Application

      • 5.1 Market segments
        • Exhibit 15: Application - Market share 2020-2025 (%)
      • 5.2 Comparison by Application
        • Exhibit 16: Comparison by Application
      • 5.3 Traffic management - Market size and forecast 2020-2025
        • Exhibit 17: Traffic management - Market size and forecast 2020-2025 ($ billion)
        • Exhibit 18: Traffic management - Year-over-year growth 2020-2025 (%)
      • 5.4 Toll management - Market size and forecast 2020-2025
        • Exhibit 19: Toll management - Market size and forecast 2020-2025 ($ billion)
        • Exhibit 20: Toll management - Year-over-year growth 2020-2025 (%)
      • 5.5 Automotive and infotainment telematics - Market size and forecast 2020-2025
        • Exhibit 21: Automotive and infotainment telematics - Market size and forecast 2020-2025 ($ billion)
        • Exhibit 22: Automotive and infotainment telematics - Year-over-year growth 2020-2025 (%)
      • 5.6 Public transport - Market size and forecast 2020-2025
        • Exhibit 23: Public transport - Market size and forecast 2020-2025 ($ billion)
        • Exhibit 24: Public transport - Year-over-year growth 2020-2025 (%)
      • 5.7 Others - Market size and forecast 2020-2025
        • Exhibit 25: Others - Market size and forecast 2020-2025 ($ billion)
        • Exhibit 26: Others - Year-over-year growth 2020-2025 (%)
      • 5.8 Market opportunity by Application
        • Exhibit 27: Market opportunity by Application

      6 Customer landscape

      • 6.1 Overview
        • Exhibit 28: Customer landscape

      7 Geographic Landscape

      • 7.1 Geographic segmentation
        • Exhibit 29: Market share by geography 2020-2025 (%)
      • 7.2 Geographic comparison
        • Exhibit 30: Geographic comparison
      • 7.3 North America - Market size and forecast 2020-2025
        • Exhibit 31: North America - Market size and forecast 2020-2025 ($ billion)
        • Exhibit 32: North America - Year-over-year growth 2020-2025 (%)
      • 7.4 Europe - Market size and forecast 2020-2025
        • Exhibit 33: Europe - Market size and forecast 2020-2025 ($ billion)
        • Exhibit 34: Europe - Year-over-year growth 2020-2025 (%)
      • 7.5 APAC - Market size and forecast 2020-2025
        • Exhibit 35: APAC - Market size and forecast 2020-2025 ($ billion)
        • Exhibit 36: APAC - Year-over-year growth 2020-2025 (%)
      • 7.6 South America - Market size and forecast 2020-2025
        • Exhibit 37: South America - Market size and forecast 2020-2025 ($ billion)
        • Exhibit 38: South America - Year-over-year growth 2020-2025 (%)
      • 7.7 MEA - Market size and forecast 2020-2025
        • Exhibit 39: MEA - Market size and forecast 2020-2025 ($ billion)
        • Exhibit 40: MEA - Year-over-year growth 2020-2025 (%)
      • 7.8 Key leading countries
        • Exhibit 41: Key leading countries
      • 7.9 Market opportunity by geography
        • Exhibit 42: Market opportunity by geography ($ billion)

      8 Drivers, Challenges, and Trends

      • 8.1 Market drivers
        • 8.2 Market challenges
          • 8.3 Market trends

            9 Vendor Landscape

            • 9.1 Overview
              • 9.2 Vendor landscape
                • Exhibit 44: Vendor landscape
              • 9.3 Landscape disruption
                • Exhibit 45: Landscape disruption
                • Exhibit 46: Industry risks

              10 Vendor Analysis

              • 10.1 Vendors covered
                • Exhibit 47: Vendors covered
              • 10.2 Market positioning of vendors
                • Exhibit 48: Market positioning of vendors
              • 10.3 EFKON GmbH
                • Exhibit 49: EFKON GmbH - Overview
                • Exhibit 50: EFKON GmbH - Product and service
                • Exhibit 51: EFKON GmbH - Key offerings
              • 10.4 Hitachi Ltd.
                • Exhibit 52: Hitachi Ltd. - Overview
                • Exhibit 53: Hitachi Ltd. - Business segments
                • Exhibit 54:Hitachi Ltd. - Key news
                • Exhibit 55: Hitachi Ltd. - Key offerings
                • Exhibit 56: Hitachi Ltd. - Segment focus
              • 10.5 Kapsch TrafficCom AG
                • Exhibit 57: Kapsch TrafficCom AG - Overview
                • Exhibit 58: Kapsch TrafficCom AG - Business segments
                • Exhibit 59:Kapsch TrafficCom AG - Key news
                • Exhibit 60: Kapsch TrafficCom AG - Key offerings
                • Exhibit 61: Kapsch TrafficCom AG - Segment focus
              • 10.6 Neology Inc.
                • Exhibit 62: Neology Inc. - Overview
                • Exhibit 63: Neology Inc. - Product and service
                • Exhibit 64: Neology Inc. - Key offerings
              • 10.7 Q-Free ASA
                • Exhibit 65: Q-Free ASA - Overview
                • Exhibit 66: Q-Free ASA - Business segments
                • Exhibit 67:Q-Free ASA - Key news
                • Exhibit 68: Q-Free ASA - Key offerings
                • Exhibit 69: Q-Free ASA - Segment focus
              • 10.8 Robert Bosch GmbH
                • Exhibit 70: Robert Bosch GmbH - Overview
                • Exhibit 71: Robert Bosch GmbH - Business segments
                • Exhibit 72:Robert Bosch GmbH - Key news
                • Exhibit 73: Robert Bosch GmbH - Key offerings
                • Exhibit 74: Robert Bosch GmbH - Segment focus
              • 10.9 Roper Technologies Inc.
                • Exhibit 75: Roper Technologies Inc. - Overview
                • Exhibit 76: Roper Technologies Inc. - Business segments
                • Exhibit 77:Roper Technologies Inc. - Key news
                • Exhibit 78: Roper Technologies Inc. - Key offerings
                • Exhibit 79: Roper Technologies Inc. - Segment focus
              • 10.10 Siemens AG
                • Exhibit 80: Siemens AG - Overview
                • Exhibit 81: Siemens AG - Business segments
                • Exhibit 82:Siemens AG - Key news
                • Exhibit 83: Siemens AG - Key offerings
                • Exhibit 84: Siemens AG - Segment focus
              • 10.11 Thales Group
                • Exhibit 85: Thales Group - Overview
                • Exhibit 86: Thales Group - Business segments
                • Exhibit 87:Thales Group - Key news
                • Exhibit 88: Thales Group - Key offerings
                • Exhibit 89: Thales Group - Segment focus
              • 10.12 TomTom International BV
                • Exhibit 90: TomTom International BV - Overview
                • Exhibit 91: TomTom International BV - Business segments
                • Exhibit 92:TomTom International BV - Key news
                • Exhibit 93: TomTom International BV - Key offerings
                • Exhibit 94: TomTom International BV - Segment focus

              11 Appendix

              • 11.1 Scope of the report
                • 11.2 Currency conversion rates for US$
                  • Exhibit 95: Currency conversion rates for US$
                • 11.3 Research methodology
                  • Exhibit 96: Research Methodology
                  • Exhibit 97: Validation techniques employed for market sizing
                  • Exhibit 98: Information sources
                • 11.4 List of abbreviations
                  • Exhibit 99: 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 market growth will increase by $$ 32.47 billion during 2021-2024.
                The intelligent transport system (its) market market is expected to grow at a CAGR of 9.5% during 2021-2024.
                Technavio has segmented the intelligent transport system (its) market market by application (traffic management, toll management, automotive and infotainment telematics, public transport, and others) ,geography (North America, Europe, APAC, South America, 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 market.
                North America will register the highest growth rate of 32% among the other regions. Therefore, the intelligent transport system (its) market 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 market growth are:
                • Increasing traffic congestion and road accidents
                • Increasing adoption of cloud computing for fleet management operations
                The intelligent transport system (its) market 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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