Intelligent Transportation System Market Size to Hit US$ 65.33 Bn by 2032

The intelligent transportation system market size reached USD 34 billion in 2022 and is expected to be worth around USD 65.33 Bn by 2032, growing at a CAGR of 6.80% from 2023 to 2032.

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Key Takeaways

North America has accounted market share of around 36% in 2022.
By Mode of Transportation, the roadway segment accounted for the largest market share of arouund 48% in 2022.
The maritime segment is expected to grow at a CAGR of 9.9% over the forecast period 2023 to 2032.
By Roadway Offering, the hardware segment has accounted market share of 46% in 2022. However, the services segment is expected to grow at a CAGR of 8.3%.
By Roadway System Type, the Advanced Traffic Management System (ATMS) segment has captured market share of 31% in 2022. However, the Advanced Public Transportation System (APTS) segment is poised to grow at a CAGR of 8.8%.
By Roadway Application, the traffic management segment has generated market share of 31% in 2022. However, the automotive telematics segment is expected to grow at a CAGR of 8.8% from 2023 to 2032.
By Railway Offering, the hardware segment has held market share of around 45.6% in 2022. The services segment is expanding at a CAGR of 9.2% over the forecast period 2023 to 2032.
By Railway System Type, the ATMS segment has accounted garnered market share of 27% in 2022. The APTS segment is poised to hit at a CAGR of 9.8% through 2032.
By Railway Application, the rail-running operation and collision avoidance segment has accounted market share of 26.5% in 2022. The smart ticketing segment is expected to reach at a CAGR of 9.6% from 2023 to 2032.
By Airway Offering, the hardware segment has accounted market share of over 43% in 2022. The services segment is predicted to grow at a CAGR of 11.5% over the forecast period.
By Airway System Type, the ATMS segment has accounted market share of 31% in 2022. The Advanced Traveler Information System (ATIS) segment is poised to grow at a CAGR of 11.5% through 2032.
By Airway Application, the aircraft traffic management segment has captured market share of 24.6% in 2022. The traveler information management segment is expected to grow at a CAGR of 11.4% from 2023 to 2032.
By Maritime Offering, the hardware segment has captured revenue share of around 43% in 2022. The services segment is poised to grow at a CAGR of 10.9% over the forecast period.
By Maritime System Type, the ATMS segment has accounted market share of 25% in 2022. The ATIS segment is poised to witness growth at a CAGR of 11.4% through 2032.
By Maritime Application, the emergency notification segment has held market share of 24% in 2022. The container movement scheduling segment is expected to reach at a CAGR of 11.2% from 2023 to 2032.

Intelligent transportation system is a combination of various advanced information and communication technologies that helps in managing the traffic as well as changes the way consumers, government, and businesses deal with the transports. It provides various types of services such as fleet management, parking management system, smart ticketing solution, intelligent traffic management, security & surveillance, passenger information solution, and mobility services.

Growth Factors

Numerous government initiatives for the development of smart cities along with increasing adoption of smart transportation modes in order to reduce the traffic congestion are some of the major factors that drive the global intelligent transportation systems market. In respect to speed up the mobility of the traffic and reduce congestion governments of various regions significantly developing or investing heavily to develop the smart transport infrastructure.

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Intelligent Transportation System Market Scope

Report Highlights	Details
Growth Rate from 2023 to 2032	CAGR of 6.80%
Market Size in 2023	USD 36.14 Billion
Market Size by 2032	USD 65.33 Billion
Base Year	2022
Forecast Year	2023 to 2032
Segments Covered	Type, Application
Regional Scope	North America, Europe, Asia Pacific, Rest of the World

Besides this, smart transportation system also helps to reduce the total number of deaths from road accidents by smartly assisting the drivers through GPS system, radio frequency, radars, and other mode of communication systems. As per the report published by NHSTA, there were nearly 52,190 vehicles in the United States that were involved in serious crashes occurred in 2016, among them 40,908 were passenger cars.

Further, rapid adoption of Internet of Things (IoT), Artificial Intelligence (AI), big data, and blockchain along with their significant penetration in automotive sector is another major factor that drives the growth of intelligent transportation system market. These solutions facilitate rapid exchange of information and data between service providers and consumers. In addition, the above mentioned solutions also offer accurate data and real-time visibility over shipment coupled with higher level of customer satisfaction and increased efficiency.

However, the sudden outbreak of corona virus in the early 2020 has disrupted several industries including transportation. New regulations and policies directed by the government in order to control the spread of corona virus have interrupted the supply chain. New laws for maintaining social distance impact badly on the growth of public transportation sector. Although, private mode of transportation such as self-owned vehicles expected to seek consequent growth in pandemic times.

Report Highlights

North America led the global intelligent transportation system market with a revenue share of nearly 41% in the year 2020 due to technological advancement and rapid transformation in the automotive sector
The Asia Pacific anticipated to flourish at the fastest growth rate in the upcoming years because of fast penetration of advanced technologies in the automotive sector such as big data, IoT, AI, and blockchain
On the basis of type segment, Advanced Traffic Management System (ATMS) held the major revenue share on the global level accounting for more than 31.8% in 2020
Public transportation system segment expected to grow at the fastest rate during the forthcoming years owing to increasing number of passengers and investment for real-time information in public transportation
By application, traffic management segment captured majority of market share in the global intelligent transportation system market in the year 2020
Automotive telematics segment estimated to witness the highest growth rate of nearly 7.3% during the forecast period due to its positive impact on increasing the safety and security of a vehicle

Regional Snapshots

North America dominated the global intelligent transportation system market because of significant penetration of major market participants in the region. In addition, these market players are constantly investing in the research and development of their product offering to increasing their market share and gain higher level of customer satisfaction that again aids to the regional benefit of the market. The U.S. is the front-runner in the North America region.

On the other hand, the Asia Pacific estimated to exhibit the fastest CAGR over the forecast period because of rapid transformation in the automotive and transportation sector. Further, the government in this region is also supporting magnificently for the smart transportation infrastructure.

Key Players & Strategies

Significant revenue share in the global intelligent transportation system market is occupied by some major players in the market. These players are primarily focused on the technological advancement and expanding their customer base across the region. Major players invest heavily in the research and development for maintaining their competitive edge on the global level. Additionally, several market participants are focused on securing their intelligent transportation system contracts with governments and private agencies for offering solutions that include smart parking systems, smart tolling systems, and others.

Rapid urbanization is significantly transforming the transportation sector. This has influenced several intelligent transportation systems market players to enter into a strategic partnership with the communication devices manufacturers for automobile and automotive giants.

Some of the prominent players in the Intelligent Transportation System Market include:

Lanner Electronics
Hitachi Ltd.
Kapsch TrafficCom
Denso Corporation
TomTom International BV
Siemens AG
Garmin International
Clever Devices Ltd.
Nuance Communications
Lanner Electronics
Thales Group

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2020 to 2032. For the purpose of this study, Precedence Research has segmented the global Intelligent Transportation System Market report on the basis of type, application, and region:

By Mode of Transportation

Roadway
Railway
Airway

By Maritime Roadway Offering,

Hardware
- Interface Boards
- Sensors
- Surveillance Cameras
- Telecommunication Networks
- Monitoring and Detection Systems
- Others
Software
- Visualization Software
- Video Detection Management Software
- Transit Management Software
- Others
Services
- Cloud Services
- Business Services
- Professional Services

By Roadway System Type

Advanced Traveler Information System (ATIS)
Advanced Traffic Management System (ATMS)
Advanced Transportation Pricing System (ATPS)
Advanced Public Transportation System (APTS)
Emergency Medical System (EMS)

By Roadway Application

Traffic Management
Road Safety and Security
Freight Management
Public Transport
Environment Protection
Automotive Telematics
Parking Management
Road Tolling Systems
Others

By Railway Offering

Hardware
- Interface Boards
- Sensors
- Surveillance Cameras
- Telecommunication
- Networks Monitoring And Detection Systems
- Others
Software
- Visualization Software
- Video Detection Management Software
- Transit Management Software
- Others
Services
- Cloud Services
- Business Services
- Professional Services

By Railway System Type

Advanced Traveler Information System (ATIS)
Advanced Traffic Management System (ATMS)
Advanced Transportation Pricing System (ATPS)
Advanced Public Transportation System (APTS)
Emergency Medical System (EMS)

By Railway Application

Rail-running Operation and Collision Avoidance
Passenger Information Management
Smart Ticketing
Security Surveillance
Emergency Notification
Others

By Airway Offering

Hardware
- Interface Boards
- Sensors
- Surveillance Cameras
- Telecommunication Networks
- Monitoring And Detection Systems
- Others
Software
- Visualization Software
- Video Detection Management Software
- Transit Management Software
- Others
Services
- Cloud Services
- Business Services
- Professional Services

By Airway System Type

Advanced Traveler Information System (ATIS)
Advanced Traffic Management System (ATMS)
Advanced Transportation Pricing System (ATPS)
Advanced Public Transportation System (APTS)
Emergency Medical System (EMS)

By Airway Application

Security Surveillance
Shuttle Bus Tracking
Traveler Information Management
Aircraft Traffic Management
Smart Ticketing
Emergency Notification
Others

By Maritime Offering

Hardware
- Interface Boards
- Sensors
- Surveillance Cameras
- Telecommunication Networks
- Monitoring And Detection Systems
- Others
Software
- Visualization Software
- Video Detection Management Software
- Transit Management Software
- Others
Services
- Cloud Services
- Business Services
- Professional Services

By Maritime System Type

Advanced Traveler Information System (ATIS)
Advanced Traffic Management System (ATMS)
Advanced Transportation Pricing System (ATPS)
Advanced Public Transportation System (APTS)
Emergency Medical System (EMS)

By Maritime Application

Freight Arrival & Transit
Real-time Weather Information Tracking
Container Movement Scheduling Emergency
Notification
Others

Regional Outlook

- North America
  - U.S.
  - Canada
- Europe
  - U.K.
  - Germany
  - France
- Asia Pacific
  - China
  - India
  - Japan
  - South Korea
- Rest of the World