Published by Uma Rajagopal
Posted on February 8, 2022
4 min readLast updated: February 9, 2026
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According to a recently published report by Future Market Insights titled “Intelligent Transport Systems (ITS) Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027),” the global
According to a recently published report by Future Market Insights titled “Intelligent Transport Systems (ITS) Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027),” the global intelligent transportation systems (ITS) market is expected to be valued at US$ 21,481.4 Mn in 2017, and is projected to reach US$ 70,798.4 Mn by 2027 end, expanding at CAGR of 12.7% throughout the assessed period. The primary factors which are driving this market are growing inclination towards better transport infrastructure and increase in spending on intelligent transportation system.
Global intelligent transport systems market size is expected to be valued at US$ 21,481.4 Mn in 2017, and is projected to reach US$ 70,798.4 Mn by 2027 end, expanding at CAGR of 12.7% throughout the assessed period.
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Global Intelligent Transport Systems Market: Drivers
Global Intelligent Transport Systems Market: Forecast by Region
This market research company has included ASEAN region along with APEJ, Japan, North America, Latin America, Eastern Europe, Western Europe, Japan and MEA. In APEJ, the collision avoidance system segment is a key application segment, which is expected to showcase a high CAGR during the forecast period. In APEJ, the intelligent urban traffic management system application segment is expected to reflect high market share.
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Global Intelligent Transport Systems Market: Forecast by Component
On the basis of component, the global intelligent transport systems market is segmented into hardware, software and service. After studying the entire market it has been witnessed that in terms of value, the software segment is expected to increase at a relatively higher CAGR during the forecast period. This segment is expected to register moderate Y-o-Y growth rate throughout the forecast period. In terms of value, this segment is expected to expand at a CAGR of 13.0% during the forecast period. The hardware segment on the other hand is expected to exhibit a high market attractiveness index over the forecast period. In 2017, the hardware segment is estimated to be valued at US$ 10,396.3 Mn, and is expected to witness steady growth in terms of revenue throughout the forecast period.
Global Intelligent Transport Systems Market: Forecast by Application
On the basis of application, global market for intelligent transport systems market is segmented into intelligent urban traffic management systems, highway traffic management, intelligent car parking management systems (smart parking), fleet management and asset monitoring, collision avoidance systems, advanced traveler information systems, and congestion/road charging solutions. The collision avoidance system segment is expected to showcase a high CAGR during the forecast period. In terms of attractiveness index, highway traffic management segment is expected to witness a high market attractiveness index over the forecast period. In terms of value, intelligent urban traffic management system segment was valued US$ 5,037.5 Mn in the year 2017, expanding at a robust CAGR of 9.4%.
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Global Intelligent Transport Systems Market: Competitive Landscape
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, and Lanner Electronics Inc are some of the key leaders operating in the global intelligent transport systems market.
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Intelligent Transport Systems (ITS) refers to advanced applications that aim to provide innovative services related to different modes of transport and traffic management. It enhances safety, mobility, and efficiency in transportation.
CAGR stands for Compound Annual Growth Rate. It is a useful measure that describes the mean annual growth rate of an investment over a specified time period, assuming the investment grows at a steady rate.
Traffic management solutions are systems and technologies designed to improve the flow of traffic on roadways. They include tools for monitoring, controlling, and optimizing traffic patterns to reduce congestion and enhance safety.
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