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Intelligent Transport System Market by Application, Type, and Geography - Forecast and Analysis 2023-2027

  • Published: Nov 2022
  • Pages: 120
  • SKU: IRTNTR41630
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The intelligent transport system (ITS) market is estimated to grow at a CAGR of 8.49% between 2022 and 2027. The size of the market is forecast to increase by USD 33.39 billion. The growth of the market depends on serval factors, including increasing traffic congestion and road accidents, growing road freight logistics market, and growth in the number of smart connected devices.

This report extensively covers market segmentation by application (traffic management, toll management, automotive and infotainment telematics, public transport, and others), type (advanced traffic management system, advanced public transportation system, advanced transportation pricing system, advanced traveler information system, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

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

Intelligent Transport System (ITS) Market Size

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Parent Market Analysis

The reports categorize the global intelligent transport system (ITS) market as a part of the global air freight and logistics market within the global transportation market. The parent global air freight and logistics market cover revenue generated by companies providing air freight transportation; courier; and logistics services, including package and mail delivery and customs agents. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

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

The increasing traffic congestion and road accidents are notably driving the market growth, although factors such as system integration and interoperability issues may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Intelligent Transport System (ITS) Market Driver 

The increasing traffic congestion and road accidents are notably driving the market growth. 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. These factors are more prevalent in developing countries such as India and China than in developed countries. Increased disposable income is fueling automobile sales and urbanization in developing countries. Government organizations in developing countries implement ITS solutions such as congestion charging, road user charging, and electronic toll collection to control traffic congestion. For instance, the Indonesian government has partnered with Kapsch TrafficCom and Q-Free to provide tolling equipment to the Indonesian road transportation sector.

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. Developing countries account for 93% of the total road accidents across the world. Inadequate law enforcement, unsafe road infrastructure, and improper traffic management are the key reasons for road accidents in these countries. The abovementioned factors drive the demand for ITS across the world.

Key Intelligent Transport System (ITS) Market Trend

Increased use of the meta-intelligence concept in transport systems is the key trend driving the market growth. Vendors of ITS are incorporating the meta-intelligence concept into ITS to improve business efficiency and achieve business intelligence. They are integrating big data and IoT analytics into ITS to have full visibility over the business process for efficient decision-making. Organizations are looking to integrate sales, marketing, distribution, and customer service units to obtain business intelligence from the ITS network.

Vendors operating in the application industry, especially in transportation and logistics, can optimize their processes by knowing the environmental and financial costs of every process. They can maximize the utilization of their facilities and adjust and anticipate capacity constraints by managing inbound and outbound appointments. The integration of meta-intelligence is expected to fuel the demand for ITS during the forecast period.

Key Intelligent Transport System (ITS) Market Challenge

System integration and interoperability issues are the major challenges impeding intelligent transport system (ITS) market growth. Interoperability issues in the existing systems increase complexities and costs related to the deployment of ITS. The existing operational technology system lacks integrational capability and, hence, tends to work in isolation. There is a need for a fully functional digital workflow, which requires effective data sharing between machines and other systems from the various end-users of ITS.

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. For ITS to be truly effective and widely accepted across industries, seamless connectivity and interoperability between products and applications need to be established. Interoperability, thus, hampers the adoption of ITS solutions.

Key Intelligent Transport System (ITS) Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Intelligent Transport System (ITS) Market Share by Geography

Global Intelligent Transport System (ITS) Market Customer Landscape

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

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Stantec Inc. - The company offers intelligent transport systems such as Optics and Automated Freight. The company operates under multiple segments including building, energy and resources, water, and infrastructure. Through the buildings segment, the company offers services for the construction of buildings. Through the energy and resources segment, the company generates geothermal energy.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • 3M Co.
  • Advantech Co. Ltd.
  • AECOM
  • Atlantia SPA
  • Axiomtek Co. Ltd.
  • Cubic Corp.
  • Dornier Group GmbH
  • EFKON GmbH
  • GMV Innovating Solutions SL
  • Hitachi Ltd.
  • HNTB Co.
  • HR Green Inc.
  • Indra Sistemas SA
  • Kapsch TrafficCom AG
  • Serco Group Plc

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Intelligent Transport System (ITS) Market?

The market share growth by the traffic management segment will be significant during the forecast period. Traffic management is the largest contributing segment in the global ITS market. It is expected to grow at a steady rate during the forecast period. 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.

Intelligent Transport System (ITS) Market Size

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The traffic management segment shows a gradual increase in the market share of USD 13.18 billion in 2017 and continue to grow by 2021. Players operating in the transportation industry and travel service providers are increasing transportation costs because of the growing traffic congestion. Health concerns regarding rising pollution levels because of traffic congestion and increased consumption of fuel are leading to economic losses. For example, in Europe, the cost of transporting goods is increasing by 0.9% on a day-to-day basis because of traffic congestion.

Therefore, many European countries, including France, the UK, and Spain, are investing in ITS for traffic management. Developing countries such as India and China are rapidly adopting ITS for traffic management. The innovative solutions developed under this project help authorities manage traffic congestion efficiently and smartly. Initiatives such as these are expected to drive the growth of the market in focus during the forecast period.

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

Intelligent Transport System (ITS) Market Share by Geography

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APAC is projected to contribute 33% by 2023. Another region offering significant growth opportunities to vendors is North America. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The ITS market in North America is expected to grow at a steady rate during the forecast period. The US is the key market in the region. Major factors contributing to the market in the region are the increased adoption of ITS solutions by end-user industries, the 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. The focus of the government on the use of ITS solutions is expected to contribute to the overall demand for ITS solutions in North America. Start-up culture in North America, especially in the US, is expected to fuel the number of end-user industries, which will fuel the demand for ITS solutions.

The outbreak of COVID-19 negatively affected the regional market in 2020 due to nationwide lockdowns and disruptions in the supply chain. However, in 2021, the regional market witnessed recovery as the stimulus package was provided by the governments of several countries to businesses for infrastructure development activities. In Q2 2021, strict safety norms were followed, and large-scale governmental vaccination drives were organized. This led to the resumption of manufacturing operations in the ITS market. The ITS market was on a recovery path in Q3 2021, which is expected to continue during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by application, type, and region.

  • Application Outlook ( USD Billion, 2017 - 2027)
    • Traffic management
    • Toll management
    • Automotive and infotainment telematics
    • Public transport
    • Others
  • Type Outlook ( USD Billion, 2017 - 2027)
    • Advanced traffic management system
    • Advanced public transportation system
    • Advanced traveler information system
    • Others
  • Region Outlook ( USD Billion, 2017 - 2027)
    • APAC
      • China
      • India
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • South America
      • Brazil
      • Argentina 
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Intelligent Transport System (ITS) Market Scope

Report Coverage

Details

Page number

184

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 8.49%

Market growth 2023-2027

USD 33.39 billion

Market structure

Fragmented

YoY growth (%)

6.89

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 33%

Key countries

US, Japan, China, UK, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

3M Co., Advantech Co. Ltd., AECOM, Atlantia SPA, Axiomtek Co. Ltd., Cubic Corp., Dornier Group GmbH, EFKON GmbH, GMV Innovating Solutions SL, Hitachi Ltd., HNTB Co., HR Green Inc., Indra Sistemas SA, Kapsch TrafficCom AG, Serco Group Plc, SICE TyS, Siemens AG, Stantec Inc., Sumitomo Electric Industries Ltd., Teledyne FLIR LLC, Thales, and Trapeze Software ULC

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, and market condition analysis for the forecast period.

Customization purview

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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
  • Detailed information on factors that will drive the growth of the market between 2023 and 2027
  • Precise estimation of the intelligent transport system (ITS) market size and its contribution of the market in focus to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the industry across North America, Europe, APAC, South America, and Middle East and Africa
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of intelligent transport system (ITS) market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global intelligent transport system (ITS) market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global intelligent transport system (ITS) market 2017 - 2021 ($ billion)
    • 4.2 By Application Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – By Application Segment 2017 - 2021 ($ billion)
    • 4.3 By Type Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – By Type Segment 2017 - 2021 ($ billion)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Application

    • 6.1 Market segments
      • Exhibit 30: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
    • 6.2 Comparison by Application
      • Exhibit 32: Chart on Comparison by Application
      • Exhibit 33: Data Table on Comparison by Application
    • 6.3 Traffic management - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Traffic management - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 35: Data Table on Traffic management - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 36: Chart on Traffic management - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Traffic management - Year-over-year growth 2022-2027 (%)
    • 6.4 Toll management - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Toll management - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 39: Data Table on Toll management - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 40: Chart on Toll management - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Toll management - Year-over-year growth 2022-2027 (%)
    • 6.5 Automotive and infotainment telematics - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Automotive and infotainment telematics - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 43: Data Table on Automotive and infotainment telematics - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 44: Chart on Automotive and infotainment telematics - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Automotive and infotainment telematics - Year-over-year growth 2022-2027 (%)
    • 6.6 Public transport - Market size and forecast 2022-2027
      • Exhibit 46: Chart on Public transport - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 47: Data Table on Public transport - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 48: Chart on Public transport - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on Public transport - Year-over-year growth 2022-2027 (%)
    • 6.7 Others - Market size and forecast 2022-2027
      • Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 6.8 Market opportunity by Application
      • Exhibit 54: Market opportunity by Application ($ billion)

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 55: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 56: Data Table on Type - Market share 2022-2027 (%)
    • 7.2 Comparison by Type
      • Exhibit 57: Chart on Comparison by Type
      • Exhibit 58: Data Table on Comparison by Type
    • 7.3 Advanced traffic management system - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Advanced traffic management system - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 60: Data Table on Advanced traffic management system - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 61: Chart on Advanced traffic management system - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Advanced traffic management system - Year-over-year growth 2022-2027 (%)
    • 7.4 Advanced public transportation system - Market size and forecast 2022-2027
      • Exhibit 63: Chart on Advanced public transportation system - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 64: Data Table on Advanced public transportation system - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 65: Chart on Advanced public transportation system - Year-over-year growth 2022-2027 (%)
      • Exhibit 66: Data Table on Advanced public transportation system - Year-over-year growth 2022-2027 (%)
    • 7.5 Advanced transportation pricing system - Market size and forecast 2022-2027
      • Exhibit 67: Chart on Advanced transportation pricing system - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 68: Data Table on Advanced transportation pricing system - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 69: Chart on Advanced transportation pricing system - Year-over-year growth 2022-2027 (%)
      • Exhibit 70: Data Table on Advanced transportation pricing system - Year-over-year growth 2022-2027 (%)
    • 7.6 Advanced traveller information system - Market size and forecast 2022-2027
      • Exhibit 71: Chart on Advanced traveller information system - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 72: Data Table on Advanced traveller information system - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 73: Chart on Advanced traveller information system - Year-over-year growth 2022-2027 (%)
      • Exhibit 74: Data Table on Advanced traveller information system - Year-over-year growth 2022-2027 (%)
    • 7.7 Others - Market size and forecast 2022-2027
      • Exhibit 75: Chart on Others - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 76: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 77: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 78: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 7.8 Market opportunity by Type
      • Exhibit 79: Market opportunity by Type ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 80: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 81: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 82: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 83: Chart on Geographic comparison
      • Exhibit 84: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 85: Chart on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 86: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 87: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 90: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 91: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 APAC - Market size and forecast 2022-2027
      • Exhibit 93: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 94: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 95: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 97: Chart on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 98: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 99: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 101: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 102: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 103: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 105: Chart on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 106: Data Table on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 107: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 Japan - Market size and forecast 2022-2027
      • Exhibit 109: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 110: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 111: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 112: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.10 UK - Market size and forecast 2022-2027
      • Exhibit 113: Chart on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 114: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 115: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 116: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.11 China - Market size and forecast 2022-2027
      • Exhibit 117: Chart on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 118: Data Table on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 119: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 120: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.12 Germany - Market size and forecast 2022-2027
      • Exhibit 121: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 122: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 123: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 124: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 125: Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 126: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 127: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 128: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 129: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 130: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 131: Matrix on vendor position and classification
            • 12.3 3M Co.
              • Exhibit 132: 3M Co. - Overview
              • Exhibit 133: 3M Co. - Business segments
              • Exhibit 134: 3M Co. - Key news
              • Exhibit 135: 3M Co. - Key offerings
              • Exhibit 136: 3M Co. - Segment focus
            • 12.4 Advantech Co. Ltd.
              • Exhibit 137: Advantech Co. Ltd. - Overview
              • Exhibit 138: Advantech Co. Ltd. - Business segments
              • Exhibit 139: Advantech Co. Ltd. - Key offerings
              • Exhibit 140: Advantech Co. Ltd. - Segment focus
            • 12.5 Axiomtek Co. Ltd.
              • Exhibit 141: Axiomtek Co. Ltd. - Overview
              • Exhibit 142: Axiomtek Co. Ltd. - Product / Service
              • Exhibit 143: Axiomtek Co. Ltd. - Key offerings
            • 12.6 Cubic Corp.
              • Exhibit 144: Cubic Corp. - Overview
              • Exhibit 145: Cubic Corp. - Business segments
              • Exhibit 146: Cubic Corp. - Key offerings
              • Exhibit 147: Cubic Corp. - Segment focus
            • 12.7 Dornier Group GmbH
              • Exhibit 148: Dornier Group GmbH - Overview
              • Exhibit 149: Dornier Group GmbH - Product / Service
              • Exhibit 150: Dornier Group GmbH - Key offerings
            • 12.8 EFKON GmbH
              • Exhibit 151: EFKON GmbH - Overview
              • Exhibit 152: EFKON GmbH - Product / Service
              • Exhibit 153: EFKON GmbH - Key offerings
            • 12.9 Hitachi Ltd.
              • Exhibit 154: Hitachi Ltd. - Overview
              • Exhibit 155: Hitachi Ltd. - Business segments
              • Exhibit 156: Hitachi Ltd. - Key news
              • Exhibit 157: Hitachi Ltd. - Key offerings
              • Exhibit 158: Hitachi Ltd. - Segment focus
            • 12.10 Indra Sistemas SA
              • Exhibit 159: Indra Sistemas SA - Overview
              • Exhibit 160: Indra Sistemas SA - Business segments
              • Exhibit 161: Indra Sistemas SA - Key offerings
              • Exhibit 162: Indra Sistemas SA - Segment focus
            • 12.11 Kapsch TrafficCom AG
              • Exhibit 163: Kapsch TrafficCom AG - Overview
              • Exhibit 164: Kapsch TrafficCom AG - Business segments
              • Exhibit 165: Kapsch TrafficCom AG - Key news
              • Exhibit 166: Kapsch TrafficCom AG - Key offerings
              • Exhibit 167: Kapsch TrafficCom AG - Segment focus
            • 12.12 Serco Group Plc
              • Exhibit 168: Serco Group Plc - Overview
              • Exhibit 169: Serco Group Plc - Business segments
              • Exhibit 170: Serco Group Plc - Key news
              • Exhibit 171: Serco Group Plc - Key offerings
              • Exhibit 172: Serco Group Plc - Segment focus
            • 12.13 Siemens AG
              • Exhibit 173: Siemens AG - Overview
              • Exhibit 174: Siemens AG - Business segments
              • Exhibit 175: Siemens AG - Key news
              • Exhibit 176: Siemens AG - Key offerings
              • Exhibit 177: Siemens AG - Segment focus
            • 12.14 Stantec Inc.
              • Exhibit 178: Stantec Inc. - Overview
              • Exhibit 179: Stantec Inc. - Business segments
              • Exhibit 180: Stantec Inc. - Key offerings
              • Exhibit 181: Stantec Inc. - Segment focus
            • 12.15 Teledyne FLIR LLC
              • Exhibit 182: Teledyne FLIR LLC - Overview
              • Exhibit 183: Teledyne FLIR LLC - Product / Service
              • Exhibit 184: Teledyne FLIR LLC - Key offerings
            • 12.16 Thales
              • Exhibit 185: Thales - Overview
              • Exhibit 186: Thales - Business segments
              • Exhibit 187: Thales - Key offerings
              • Exhibit 188: Thales - Segment focus
            • 12.17 Trapeze Software ULC
              • Exhibit 189: Trapeze Software ULC - Overview
              • Exhibit 190: Trapeze Software ULC - Product / Service
              • Exhibit 191: Trapeze Software ULC - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 192: Inclusions checklist
                • Exhibit 193: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 194: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 195: Research methodology
                • Exhibit 196: Validation techniques employed for market sizing
                • Exhibit 197: Information sources
              • 13.5 List of abbreviations
                • Exhibit 198: 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
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              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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              Intelligent Transport System (ITS) market growth will increase by $33.39 billion during 2023-2027.
              The intelligent transport system (its) market is expected to grow at a CAGR of 8.49% during 2023-2027.
              Technavio has segmented the intelligent transport system (its) market by application (Traffic management, Toll management, Automotive and infotainment telematics, Public transport, and Others) ,type (Advanced traffic management system, Advanced public transportation system, Advanced transportation pricing system, Advanced traveller information system, and Others) , and geography (North America, Europe, APAC, South America, and Middle East and Africa).
              3M Co., Advantech Co. Ltd., AECOM, Atlantia SPA, Axiomtek Co. Ltd., Cubic Corp., Dornier Group GmbH, EFKON GmbH, GMV Innovating Solutions SL, Hitachi Ltd., HNTB Co., HR Green Inc., Indra Sistemas SA, Kapsch TrafficCom AG, Serco Group Plc, SICE TyS, Siemens AG, Stantec Inc., Sumitomo Electric Industries Ltd., Teledyne FLIR LLC, Thales, Trapeze Software ULC are a few of the key vendors in the intelligent transport system (its) market.
              APAC will register the highest growth rate of 33.03% among the other regions. Therefore, the intelligent transport system (its) market in APAC 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
              • Increasing adoption of cloud computing for fleet management operations
              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.
              • What are the key global market and the regional market share?
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              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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