The impressive ITS market growth at a remarkable 13.4% will lead the market to a USD 170.94 billion mark by 2034 from USD 48.61 billion measured in 2024.
Attributes | Key Insights |
---|---|
Estimated Market Size in 2024 | USD 48.61 billion |
Projected Market Value in 2034 | USD 170.94 billion |
Value-based CAGR from 2024 to 2034 | 13.4% |
The intelligent transport system market size propelled at a CAGR of 12.3% to reach USD 42.87 billion from USD 26.98 billion during the historical period.
Enhancing the transportation network was the main aim of the historical period. During this period, traffic congestion management using ITS solutions was refined. Consequently, this supported the ITS market growth.
Technological innovation is another key factor fueling the intelligent transport system market size. Including AI, IoT, and other technological developments led to the foundation of the ITS market growth.
Historical CAGR from 2019 to 2023 | 12.3% |
---|---|
Forecast CAGR from 2024 to 2034 | 13.4% |
The forecasted period will be influenced by the inclusion of autonomous vehicles. The transportation systems will be revolutionized due to AVs, fueling the prosperous future of intelligent transportation systems.
Smart city development is another key fueling factor that will likely enhance the intelligent transport system market size. Due to the requirement for enhanced traffic congestion management using ITS solutions in smart cities, AI is embedded in ITS. The role of artificial intelligence in intelligent transportation systems is to deliver predictive analysis, fueling the proactive maintenance of systems.
The growing population surges demand for efficient transport, burdening the traffic system. Asia observes a significant spike in its population; hence, the region provides a lucrative growth landscape for the ITS market growth. The future of intelligent transportation systems will likely be propelled in the Asia-Pacific region.
Europe follows extreme traffic discipline, surging the applications of intelligent transport systems. The region focuses on embedding systems in its traditional traffic monitoring systems, securing the future of intelligent transportation systems.
Being technologically advanced, North America identifies the role of artificial intelligence in intelligent transportation systems and emphasizes cybersecurity considerations for ITS infrastructure. Hence, it provides lucrative chances for the ITS market growth.
Forecast CAGRs from 2024 to 2034
Countries | Forecasted CAGR |
---|---|
Germany | 4.7% |
Japan | 5.6% |
Australia & New Zealand | 9.5% |
The United States | 11.3% |
China | 15.5% |
Germany registers the ITS market growth at a rate of 4.7%. The population density in urban areas of the country has been a main concern.
The current urban population density is 77.65%, which will continue to grow in the forecasted period, burdening traffic congestion management. Hence, this creates the demand for ITS solutions, forecasting the country's steady future of intelligent transportation systems.
Japan estimates a 5.6% spike in the intelligent transport system market size by 2034. The country hosts several global and political events like the Olympics, Paralympics, etc., and the traffic systems in the country are burdened.
Due to this, it requires efficient traffic congestion management using ITS solutions. Consequently, the demand for efficient solutions surges, ensuring ITS market growth.
Australia and New Zealand will likely register the ITS market progress at a promising CAGR of 9.5%. These countries are focused more on road safety initiatives. The political factor will likely drive the subject market.
Collision avoidance systems and intelligent speed adaptation are key government initiatives. Therefore, these factors ensure the ITS market growth.
The United States of America is, by far, the largest ITS market by its size. The country’s smart city initiatives are the main reason behind this. Also, it has efficiently identified and implemented the role of artificial intelligence in intelligent transportation systems.
Apart from this, applications of intelligent transport systems include carbon emission reduction, which ITS solutions support. Hence, the American market is driven at an impressive CAGR of 11.3%.
The growing population in China requires better infrastructure and transport systems. It is also coupled with the accelerated urbanization. Megacity projects and global projects, including Belt and Road initiatives, vastly govern the future of intelligent transportation systems.
The inclusion of 5G technology in this urbanization creates lucrative growth prospects for the ITS market. Thus, ITS market size promises to flourish at a staggering CAGR of 15.5%.
Category | Intelligent Traffic Management System |
---|---|
Market Share in 2024 | 15.9% |
Market Segment Drivers | Traffic congestion management using ITS solutions becomes easier as the market segment provides predictive insights. The enhanced emergency response is another key driver, fueling segment size growth. Thus, the intelligent transport system market size increases with an increase in segment size. |
Category | Roadways |
---|---|
Market Share in 2024 | 28.7% |
Market Segment Drivers | Roadways are prone to traffic congestion. This is resolved using ITS solutions. The efficiency of traffic congestion management using ITS solutions depicts the segment's popularity. Hence, it is a key market segment driver. |
A large intelligent transport system market size provides a broader competitive landscape for key players. Most marketers implement traffic congestion management using ITS solutions as their key offering. However, including artificial intelligence in intelligent transportation systems augments their product portfolio.
The market expansion modes key players choose often include partnerships, collaborations, product innovation, etc. Acquisitions and partnerships in the ITS market are observed more, which yields positive results for the competitors.
Key Market Developments
Attributes | Details |
---|---|
Estimated Market Size in 2024 | USD 48.61 billion |
Projected Market Valuation in 2034 | USD 170.94 billion |
Value-based CAGR 2024 to 2034 | 13.4% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Value in USD billion |
Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
Key Market Segments Covered | Systems, Applications, Region |
Key Countries Profiled |
The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
Key Companies Profiled | Thales Group AD; Siemens AG; Garmin Ltd.; Kapsch Trafficcom; Tomtom International BV; Q-Free ASA; Denso Corporation; Atkins Group; Iteris Inc.; Ricardo PLC; Efkon AG; Savari Inc.; Transcore LP; Lanner Electronics Inc.; Others |
Table 1: Global Market Value (US$ Million) Forecast by Region, 2019 to 2034
Table 2: Global Market Value (US$ Million) Forecast by Systems, 2019 to 2034
Table 3: Global Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 4: North America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 5: North America Market Value (US$ Million) Forecast by Systems, 2019 to 2034
Table 6: North America Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 7: Latin America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 8: Latin America Market Value (US$ Million) Forecast by Systems, 2019 to 2034
Table 9: Latin America Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 10: Western Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 11: Western Europe Market Value (US$ Million) Forecast by Systems, 2019 to 2034
Table 12: Western Europe Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 13: Eastern Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 14: Eastern Europe Market Value (US$ Million) Forecast by Systems, 2019 to 2034
Table 15: Eastern Europe Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 16: South Asia and Pacific Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 17: South Asia and Pacific Market Value (US$ Million) Forecast by Systems, 2019 to 2034
Table 18: South Asia and Pacific Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 19: East Asia Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 20: East Asia Market Value (US$ Million) Forecast by Systems, 2019 to 2034
Table 21: East Asia Market Value (US$ Million) Forecast by Application, 2019 to 2034
Table 22: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 23: Middle East and Africa Market Value (US$ Million) Forecast by Systems, 2019 to 2034
Table 24: Middle East and Africa Market Value (US$ Million) Forecast by Application, 2019 to 2034
Figure 1: Global Market Value (US$ Million) by Systems, 2024 to 2034
Figure 2: Global Market Value (US$ Million) by Application, 2024 to 2034
Figure 3: Global Market Value (US$ Million) by Region, 2024 to 2034
Figure 4: Global Market Value (US$ Million) Analysis by Region, 2019 to 2034
Figure 5: Global Market Value Share (%) and BPS Analysis by Region, 2024 to 2034
Figure 6: Global Market Y-o-Y Growth (%) Projections by Region, 2024 to 2034
Figure 7: Global Market Value (US$ Million) Analysis by Systems, 2019 to 2034
Figure 8: Global Market Value Share (%) and BPS Analysis by Systems, 2024 to 2034
Figure 9: Global Market Y-o-Y Growth (%) Projections by Systems, 2024 to 2034
Figure 10: Global Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 11: Global Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 12: Global Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 13: Global Market Attractiveness by Systems, 2024 to 2034
Figure 14: Global Market Attractiveness by Application, 2024 to 2034
Figure 15: Global Market Attractiveness by Region, 2024 to 2034
Figure 16: North America Market Value (US$ Million) by Systems, 2024 to 2034
Figure 17: North America Market Value (US$ Million) by Application, 2024 to 2034
Figure 18: North America Market Value (US$ Million) by Country, 2024 to 2034
Figure 19: North America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 20: North America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 21: North America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 22: North America Market Value (US$ Million) Analysis by Systems, 2019 to 2034
Figure 23: North America Market Value Share (%) and BPS Analysis by Systems, 2024 to 2034
Figure 24: North America Market Y-o-Y Growth (%) Projections by Systems, 2024 to 2034
Figure 25: North America Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 26: North America Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 27: North America Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 28: North America Market Attractiveness by Systems, 2024 to 2034
Figure 29: North America Market Attractiveness by Application, 2024 to 2034
Figure 30: North America Market Attractiveness by Country, 2024 to 2034
Figure 31: Latin America Market Value (US$ Million) by Systems, 2024 to 2034
Figure 32: Latin America Market Value (US$ Million) by Application, 2024 to 2034
Figure 33: Latin America Market Value (US$ Million) by Country, 2024 to 2034
Figure 34: Latin America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 35: Latin America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 36: Latin America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 37: Latin America Market Value (US$ Million) Analysis by Systems, 2019 to 2034
Figure 38: Latin America Market Value Share (%) and BPS Analysis by Systems, 2024 to 2034
Figure 39: Latin America Market Y-o-Y Growth (%) Projections by Systems, 2024 to 2034
Figure 40: Latin America Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 41: Latin America Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 42: Latin America Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 43: Latin America Market Attractiveness by Systems, 2024 to 2034
Figure 44: Latin America Market Attractiveness by Application, 2024 to 2034
Figure 45: Latin America Market Attractiveness by Country, 2024 to 2034
Figure 46: Western Europe Market Value (US$ Million) by Systems, 2024 to 2034
Figure 47: Western Europe Market Value (US$ Million) by Application, 2024 to 2034
Figure 48: Western Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 49: Western Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 50: Western Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 51: Western Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 52: Western Europe Market Value (US$ Million) Analysis by Systems, 2019 to 2034
Figure 53: Western Europe Market Value Share (%) and BPS Analysis by Systems, 2024 to 2034
Figure 54: Western Europe Market Y-o-Y Growth (%) Projections by Systems, 2024 to 2034
Figure 55: Western Europe Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 56: Western Europe Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 57: Western Europe Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 58: Western Europe Market Attractiveness by Systems, 2024 to 2034
Figure 59: Western Europe Market Attractiveness by Application, 2024 to 2034
Figure 60: Western Europe Market Attractiveness by Country, 2024 to 2034
Figure 61: Eastern Europe Market Value (US$ Million) by Systems, 2024 to 2034
Figure 62: Eastern Europe Market Value (US$ Million) by Application, 2024 to 2034
Figure 63: Eastern Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 64: Eastern Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 65: Eastern Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 66: Eastern Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 67: Eastern Europe Market Value (US$ Million) Analysis by Systems, 2019 to 2034
Figure 68: Eastern Europe Market Value Share (%) and BPS Analysis by Systems, 2024 to 2034
Figure 69: Eastern Europe Market Y-o-Y Growth (%) Projections by Systems, 2024 to 2034
Figure 70: Eastern Europe Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 71: Eastern Europe Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 72: Eastern Europe Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 73: Eastern Europe Market Attractiveness by Systems, 2024 to 2034
Figure 74: Eastern Europe Market Attractiveness by Application, 2024 to 2034
Figure 75: Eastern Europe Market Attractiveness by Country, 2024 to 2034
Figure 76: South Asia and Pacific Market Value (US$ Million) by Systems, 2024 to 2034
Figure 77: South Asia and Pacific Market Value (US$ Million) by Application, 2024 to 2034
Figure 78: South Asia and Pacific Market Value (US$ Million) by Country, 2024 to 2034
Figure 79: South Asia and Pacific Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 80: South Asia and Pacific Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 81: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 82: South Asia and Pacific Market Value (US$ Million) Analysis by Systems, 2019 to 2034
Figure 83: South Asia and Pacific Market Value Share (%) and BPS Analysis by Systems, 2024 to 2034
Figure 84: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Systems, 2024 to 2034
Figure 85: South Asia and Pacific Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 86: South Asia and Pacific Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 87: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 88: South Asia and Pacific Market Attractiveness by Systems, 2024 to 2034
Figure 89: South Asia and Pacific Market Attractiveness by Application, 2024 to 2034
Figure 90: South Asia and Pacific Market Attractiveness by Country, 2024 to 2034
Figure 91: East Asia Market Value (US$ Million) by Systems, 2024 to 2034
Figure 92: East Asia Market Value (US$ Million) by Application, 2024 to 2034
Figure 93: East Asia Market Value (US$ Million) by Country, 2024 to 2034
Figure 94: East Asia Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 95: East Asia Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 96: East Asia Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 97: East Asia Market Value (US$ Million) Analysis by Systems, 2019 to 2034
Figure 98: East Asia Market Value Share (%) and BPS Analysis by Systems, 2024 to 2034
Figure 99: East Asia Market Y-o-Y Growth (%) Projections by Systems, 2024 to 2034
Figure 100: East Asia Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 101: East Asia Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 102: East Asia Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 103: East Asia Market Attractiveness by Systems, 2024 to 2034
Figure 104: East Asia Market Attractiveness by Application, 2024 to 2034
Figure 105: East Asia Market Attractiveness by Country, 2024 to 2034
Figure 106: Middle East and Africa Market Value (US$ Million) by Systems, 2024 to 2034
Figure 107: Middle East and Africa Market Value (US$ Million) by Application, 2024 to 2034
Figure 108: Middle East and Africa Market Value (US$ Million) by Country, 2024 to 2034
Figure 109: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 110: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 111: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 112: Middle East and Africa Market Value (US$ Million) Analysis by Systems, 2019 to 2034
Figure 113: Middle East and Africa Market Value Share (%) and BPS Analysis by Systems, 2024 to 2034
Figure 114: Middle East and Africa Market Y-o-Y Growth (%) Projections by Systems, 2024 to 2034
Figure 115: Middle East and Africa Market Value (US$ Million) Analysis by Application, 2019 to 2034
Figure 116: Middle East and Africa Market Value Share (%) and BPS Analysis by Application, 2024 to 2034
Figure 117: Middle East and Africa Market Y-o-Y Growth (%) Projections by Application, 2024 to 2034
Figure 118: Middle East and Africa Market Attractiveness by Systems, 2024 to 2034
Figure 119: Middle East and Africa Market Attractiveness by Application, 2024 to 2034
Figure 120: Middle East and Africa Market Attractiveness by Country, 2024 to 2034
The intelligent transport system (ITS) market is estimated to progress at a CAGR of 13.4% through 2034.
The intelligent transport system (ITS) market will likely reach USD 170.94 billion by 2034.
The intelligent transport system (ITS) market will attain a market size of USD 48.61 billion in 2024.
The intelligent transport system (ITS) market's intelligent traffic management system segment will hold 15.9% of the market share in 2024.
The intelligent transport system (ITS) market's roadways segment will likely secure 28.7% of the market space in 2024.
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