NEW YORK, Oct. 19, 2022 /PRNewswire/ — According to the most recent market analysis report printed by P&S Intelligence, in 2021, the intelligent transportation system market accounted for income of $42,780.0 million, which is predicted to hit $102,617.3 million, progressing at a ten.2% compound annual progress charge from 2021 to 2030. This is due to the rising requirement to enhance visitors movement and security and the surging inhabitants worldwide, which is influencing the sale of vehicles.
During the forecast interval, aviation is predicted to have the best CAGR within the business, as a result of extra plane are being moved. Thus, a better want for environment friendly airline operations, improved surveillance and safety measures, and utilization of good ticketing programs, due to the rising variety of passengers, are arising.
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Key Points of Intelligent Transportation System Market Report
- APAC is predicted to develop at a CAGR of just about 8% within the coming years. This speedy rise could also be attributed to the quick urbanization in creating international locations, primarily India and China, rising disposable revenue and bettering life, burgeoning automotive business, and improvement of street infrastructure at a speedy tempo.
- Moreover, China holds the largest share within the clever transportation system market of the area, and it’ll keep its spot sooner or later. This shall be due to the surging acceptance of progressive applied sciences, rising depend of every day commuters, and the initiatives of the federal government to lower emissions.
- In 2021, the companies class had the largest share, and it’s anticipated to maintain that place all through this decade. This is a results of the rising want to enhance the floor transportation effectivity and connectivity, which calls for the suitable repairs of ITS tools.
- Additionally, within the coming years, the software program class will develop at a excessive charge within the clever transportation system market. This is due to the rising demand for knowledge processing, rising tempo of technological improvement, and rising reputation of ITS software program and visualization software program.
- With a CAGR of 9%, the superior public transportation system (APTS) class is predicted to advance on the highest charge all through the forecast interval. The rising demand for APTS is due to the rising funding in real-time data assortment and evaluation for highways.
- Advanced visitors administration programs (ATMS) have the most important income share, and they’ll proceed to dominate the clever transportation system market until 2030. This can be due to their intensive use on roads, rise in commuter and automobile numbers in cities, and progress within the public concern about air pollution and visitors jams.
Browse detailed report on Intelligent Transportation System Market Size, Trends and Future Growth Study 2022-2030
There are quite a few key gamers out there, comparable to:
- Teledyne FLIR LLC
- DENSO Corporation
- Garmin Ltd.
- Indra Sistemas S.A.
- Conduent Inc.
- TomTom International BV
- Cubic Corporation
- Kapsch TrafficCom AG
- Thales Group
- Siemens AG
Intelligent Transportation System Market Report Coverage
By System
- Advanced Traffic Management System
- Cooperative Vehicle System
- Advanced Public Transportation System
- Advanced Traveler Information System
- Advanced Transportation Pricing Systems
By Offering
- Hardware
- Interface boards
- Sensors
- Surveillance cameras
- Telecommunication networks
- Monitoring and detection programs
- Software
- Visualization software program
- Video detection administration software program
- Transit administration software program
- Services
- Business and cloud companies
- Support and upkeep companies
By Application
- Roadways
- Intelligent visitors management
- Collision avoidance
- Parking administration
- Passenger data administration
- Ticketing administration
- Emergency car notification
- Automotive telematics
- Fleet administration and asset monitoring
- Railways
- Rail-running operation and collision avoidance
- Passenger data administration
- Smart ticketing
- Security and surveillance
- Emergency notification
- Aviation
- Security and surveillance
- Shuttle bus monitoring
- Traveler data administration
- Smart ticketing
- Aircraft administration
- Emergency notification
- Maritime
- Freight arrival and transit
- Real-time climate data monitoring
- Container motion scheduling
- Emergency notification
Regional Analysis
- North America
- Europe
- Germany
- France
- U.Okay.
- Italy
- Spain
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
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