An advanced application known as an intelligent transportation system (ITS) attempts to deliver cutting-edge services linked to various modes of transportation and traffic management and to empower users to use transportation networks in a safer, more organised, and "smarter" manner.
Utilizing emergency services when an accident occurs, employing cameras to police traffic regulations, or using signs to indicate speed limit changes based on the situation are some of these technologies.
Intelligent Transport System is now a vital part of any smart city, transforming urban areas into digital societies that make life easier for its residents in every way. Mobility is a major issue in any city; whether people are travelling within the city for work, school, or other reasons, they use the transportation system. An Intelligent Transport System can help individuals save time while also making the city smarter. By reducing traffic issues, the Intelligent Transport System (ITS) seeks to increase traffic efficiency. It gives customers access to historical data on traffic, nearby conveniences, real-time running information, seat availability, etc., which shortens commuters' trip times and improves their comfort and safety.
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Global Intelligent Transportation System Market- Key trends
Growing adoption of eco-friendly transporation to augment the industry outlook
There has been a shifting inclination of the masses towards environmental friendly transporation. This is powered by the increasing instances of fossil fuel depletion and rising emission levels which in turn is resulting in climate change. Various governments have imposed stringent emission rules so as to decrease the pollution levels in their respective nations. This in turn is aiding the expansion of this market.
Growing road safety concerns to fuel the industry growth
With widespread increase in the number of on-road vehicles, there has been a continuous rise in the number of road mishaps. This has paved a way for advanced technologies to be integrated into transport systems owing to their ability to track and monitor vehicle activity effectively. Tese factors are adding momentum to the overall market progression.
Global Intelligent Transportation System Market- Segment Analysis
By Component
- Hardware
- Software
- Services
The hardware segment is anticipated to capture a substantial market size ascribing to the installation of various ITS components and devices like intelligent traffic management systems, camera sensors, cameras, and traveler information systems across the worldwide intelligent transport system vertical.
By System
- ATMS
- ATIS
- ITPS
- APTS
- CVO
The advanced traffic management systems application is expected to account for a major market share during the forecast duration. This is credited to the factors like rising road traffic congestions across the globe mainly driven by the cost effectiveness of vehicles resulting in higher purchase and usage by the masses.
By Application
- Traffic Monitoring
- Fleet Management Asset Monitoring
- Collision Avoidance Systems
- Parking Availability Systems
- Traffic Enforcement Cameras
- Variable Enforcement Cameras
- Roadways
- Parking Management
- Ticketing Management
- Passenger Information Management
- Emergency Vehicle Notification
- Fleet Management and Monitoring
- Intelligent Traffic Control
- Collision Avoidance
- Emergency Vehicle Notification
- Railways
- Smart Ticketing
- Emergency Notification
- Passenger Information Management
- Security Surveillance
- Rail-running operation and Collision avoidance
- Others
- Aviation
- Smart Ticketing
- Shuttle Bus Tracking
- Emergency Notification
- Aircraft Management
- Traveler Information Management
- Security Surveillance
- Others
- Maritime
- Security Surveillance
- Passenger Information Management
- Emergency Notification
- Smart Ticketing
- Rail-running operation and collision avoidance
- Others
The report on global intelligent transportation system market further analyses the abovementioned segments and sub segments to accurately identify the size and scope of this market domain with the stipulated timeline.
Top Key Players:-
- KAPSCH TRAFFICCOM
- THALES GROUP
- CONDUENT, INC.
- Hitachi Ltd
- CUBIC CORPORATION
- TOMTOM INTERNATIONAL BV
- GARMIN LTD.
- DENSO CORPORATION
- INDRA SISTEMAS, S.A.
- Q-FREE ASA
- ITERIS, INC.
- DAKTRONICS
- SENSYS GATSO GROUP AB
- RICARDO
- REDFLEX HOLDINGS
- SWARCO
- TRANSCORE
- EFKON GMBH
- LANNER ELECTRONICS
- RETOOL
- TRANSMAX PTY LTD.
- CITILOG
- TELEGRA
- CELLINT
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