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Current And Future Intelligent Transportation System Market Size, Key Players, Analysis and Forecast

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Current And Future Intelligent Transportation System Market Size, Key Players, Analysis and Forecast

April 28
22:49 2022
Current And Future Intelligent Transportation System Market Size, Key Players, Analysis and Forecast
Intelligent Transportation System Market
[295 Pages Report] The Intelligent Transportation System (ITS) Market size is expected to reach $68.0 billion by 2026 from $42.2 billion in 2021, at a CAGR of 10.0%.

The report Intelligent Transportation System Market with COVID-19 Impact Analysis by Offering, System (Advanced Traffic Management Systems, ITS-enabled Transportation Pricing Systems, and Others), Application and Geography – Global Forecast to 2026″, is expected to grow from USD 42.2 billion in 2021 to USD 68.0 billion by 2026, at a CAGR of 10.0% from 2021 to 2026. Government efforts to ensure road safety, growing focus on improving airline operations, and improving maritime logistics infrastructures are among the key factors driving the growth of the ITS market.

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Browse 239 market data Tables and 75 Figures spread through 295 Pages and in-depth TOC on “Intelligent Transportation System Market with COVID-19 Impact Analysis Application and Geography – Global Forecast to 2026″View detailed Table of Content herehttps://www.marketsandmarkets.com/Market-Reports/intelligent-t ransport-systems-its-market-764.html

Intelligent Transportation System Market

Railway-running operation and collision avoidance railway application to account for the largest size of ITS market from 2021 to 2026

Rail-running operations include train movement management, maintenance work, real-time display systems, and on-train multimedia systems; whereas, the collision avoidance system includes GPS, signal control, and warning gates. The deployment of collision avoidance systems is likely to reduce train accidents and improve the overall operations across the rail network. It would also prevent and combat anti-social acts affecting railway infrastructure operators and the quality of rail services. Thus, the railway-running operations and collision avoidance application is projected to account for the largest size of the ITS market from 2021 to 2026.

Commercial vehicle operations (CVO) systems segment to register highest CAGR during the forecast period

Commercial vehicle operations (CVO) systems find applications in service and repair vehicles, private buses and taxis, and trucks. The monitoring and information systems in CVO help drivers find safe routes and track the total travel time, as well as enable them to monitor the vehicle. In addition, using these systems, vehicle owners can track their vehicles.thus, the CVO segment is expected to record highest CAGR  during the forecast period.

North America accounted the largest share of the ITS market in 2020

Among all regions, North America accounted the largest size of the ITS market in 2020. The growth can be attributed to the presence of several ITS providing companies, such as TransCore (US), Cubic Corporation (US), and FLIR Systems (US) in the region. These companies are boosting their production capacities and expanding distribution networks across North America, as well as are trying to develop ITS components based on new technologies that would help them remain competitive in the market. In addition, the US Department of Transportation Research and Innovative Technology Administration (RITA) and ITS America are major organizations focusing on R&D related to ITS.

Siemens (Germany); Thales Group (France); Kapsch TrafficCom (Austria); Cubic Corporation (US); Conduent, Inc. (US); Garmin Ltd. (US); TomTom International BV (Netherlands); Teledyne FLIR Systems, Inc. (US); Indra Sistemas (Spain); and Denso Corporation (Japan); are some of the key players in the ITS market.

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