Published by Coherent Market Insights
Posted on September 27, 2021
4 min readLast updated: February 2, 2026
The ITS market is set to grow significantly, reaching $74.3 Bn by 2027, driven by cost-effective solutions and smart vehicle development.
United States/WA: The global intelligent transportation systems (ITS) market was valued at US$ 30.1 Bn in 2019 and is forecast to reach a value of US$ 74.3 Bn by 2027 at a CAGR of 11.9% between 2020 and 2027.
Report Pages:[135 Pages]
Major Key Companies Involving in Intelligent Transportation Systems (ITS) Market:
Siemens AG, TomTom NV, Hitachi Ltd, Thales Group, WS Atkins PLC, Telenav, Inc., Nuance Communications Incorporation, Kapsch TrafficCom AG, EFKON AG, Iteris, Inc., and Garmin International Inc.
Market Driver
High benefit to cost ration is expected to propel the global intelligent transportation systems (ITS) market growth over the forecast period
Transportation service providers are seeking cost-effective solutions to boost their productivity and higher financial benefits. ITSs improve the overall performance of the supply chain process and yields a higher benefit-cost ratio for users in a competitive environment. It is found that that deploying ITS system benefits in the ratio of about 8 is to 1 when compared to traditional investment in transportation network expansion. Furthermore, the use of advanced traffic control systems has a benefit cost ratio between 20:1 to 50:1 in terms of reduced congestions and fuel consumption. With significant use of real time information systems, users can save tens of millions of dollars. This investment is expected to increase further due to an increase in awareness of the economic benefits of ITS particularly in emerging markets such as India, China, Brazil, Russia, and South Africa. Therefore, these factors are expected to drive growth of the global intelligent transportation systems (ITS) market in the near future.
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Market Opportunity
Development of smart vehicles compatible with ITS can provide major business opportunities in the global intelligent transportation systems (ITS) market
Many automobile and technology companies are developing smart vehicles that are compatible with ITS Companies such as BMW, Chevrolet, Chrysler, Dodge, Audi, Jeep, and more are developing smart vehicles, which has increased adoption of ITS. Key players in the market can capitalize on these opportunities by providing novel products and gain a competitive edge in the market.
Market Trends
Among regions, North America is expected to witness significant growth in the global intelligent transportation systems (ITS) market. This is owing to rapid growth of roadways in North America and Canada. Furthermore, presence of major market players across the regions is expected to boost the regional market growth over the forecast period.
Europe is expected to register a robust growth rate in the global intelligent transportation systems (ITS) market over the forecast period. This is owing to high traffic density in Spain and the major role of ITS in the French transport policy. Moreover, rising research and development activities are expected to accelerate regional market growth over the forecast period.
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The post [Sept 2021] Latin and North America, Europe Intelligent Transportation Systems (ITS) Market COVID-19 impact in-depth analysis appeared first on Gatorledger.
The article discusses the growth and impact of the Intelligent Transportation Systems market globally.
North America and Europe are highlighted as significant growth regions for the ITS market.
The development of smart vehicles compatible with ITS presents major business opportunities.
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