Smart Mobility Surge: Intelligent Transportation System Market to Hit USD 98.02 Billion by 2032
OREGON, DE, UNITED STATES, March 5, 2025 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, โIntelligent Transportation System (ITS) Market," The intelligent transportation system industry size was valued at $48.36 billion in 2022, and is estimated to garner $98.02 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032.
Download Sample Pages - https://www.alliedmarketresearch.com/request-sample/209
๐๐ซ๐ข๐ฆ๐ ๐๐๐ญ๐๐ซ๐ฆ๐ข๐ง๐๐ง๐ญ๐ฌ ๐จ๐ ๐ ๐ซ๐จ๐ฐ๐ญ๐ก
Rise in traffic jams globally, increased investment in railways, and increased inclination of governments towards CO2 emission reduction from the transportation industry drive the growth of the global intelligent transportation system (ITS) market. However, factors such as the high cost of technology restrict the market growth. However, the growth of connected and autonomous driving car and the improvement of high-speed internet and communications technologies presents new opportunities in the coming years.
The global intelligent transportation system market is segmented on the basis of component, application, and end-use. Based on components, the market is bifurcated into hardware, software, and services. Depending on applications, the market has been segregated into traffic management, freight management, advanced traveler information systems, advanced public transportation systems, security and surveillance, ticketing and tolling systems, and others. Based on end use it is fragmented into roadways, railways, waterways and airways. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
๐๐ก๐ ๐ก๐๐ซ๐๐ฐ๐๐ซ๐ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐ฌ๐ญ๐๐ญ๐ฎ๐ฌ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก๐จ๐ฎ๐ญ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
Based on component, the hardware segment held the highest market share in 2022, accounting for half of the global intelligent transportation system (ITS) market revenue, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest ๐๐๐๐ ๐จ๐ ๐.๐% from 2023 to 2032, owing to growth in investment in CCTV and other communication equipment for security and surveillance around the globe.
Inquire Before Buying - https://www.alliedmarketresearch.com/purchase-enquiry/209
๐๐ก๐ ๐จ๐ญ๐ก๐๐ซ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ข๐ฌ ๐๐ฑ๐ฉ๐๐๐ญ๐๐ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก๐จ๐ฎ๐ญ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐.
Based on application, the other segment held the highest market share in 2022, accounting for one-fourth of the global intelligent transportation system (ITS) market and is projected to manifest the highest ๐๐๐๐ ๐จ๐ ๐.๐% from 2023 to 2032 owing to the need for customized solutions for efficient, intelligent transportation systems.
๐๐ก๐ ๐ซ๐จ๐๐๐ฐ๐๐ฒ๐ฌ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
Based on end-user, the roadways segment accounted for the largest share in 2022, contributing to nearly one-third of the global intelligent transportation system (ITS) market revenue and is projected to portray a ๐๐๐๐ ๐จ๐ ๐.๐% from 2023 to 2032. The increase in government investment in the development of road networks across the globe is expected to foster market growth.
Asia-Pacific to maintain its dominance by 2031
By region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for one-third of the global intelligent transportation system (ITS) market revenue and is expected to witness the fastest ๐๐๐๐ ๐จ๐ ๐.๐% from 2023 to 2032. The strong economic growth in the region resulted in increased demand for Intelligent Transportation Systems (ITS) to effectively manage the growing transportation sector.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/intelligent-transportation-system-market/purchase-options
๐๐๐๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ: -
Siemens AG
Garmin Ltd
Denso Corporation
Thales Group
Cubic Transportation Systems, Inc.
Kapsch TrafficCom AG
Teledyne FLIR LLC
NEC Corporation
Navico Group
Alstom SA
Key Findings Of The Study
By component, the hardware segment is anticipated to exhibit significant growth in the intelligent transportation system market in the near future.
By application, the others segment is anticipated to exhibit significant growth in the market in the near future.
By end use, the roadway segment is anticipated to exhibit significant growth in the market in the near future.
By Region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ ๐๐๐ฏ๐ ๐จ๐ง ๐๐ซ๐๐ง๐ฌ๐ฉ๐จ๐ซ๐ญ๐๐ญ๐ข๐จ๐ง ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
https://www.alliedmarketresearch.com/unmanned-traffic-management-market-A07169 - Unmanned Traffic Management Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, by Application, by End User : Global Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/smart-transportation-market - Smart Transportation Market Size, Share, Competitive Landscape and Trend Analysis Report, by Solution, by Services, by Transportation Type : Global Opportunity Analysis and Industry Forecast, 2020-2030
https://www.alliedmarketresearch.com/smart-warehousing-market-A233644 - Smart Warehousing Market Size, Share, Competitive Landscape and Trend Analysis Report, by Application, by Offering : Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/automotive-smart-antenna-market-A11741 - Automotive Smart Antenna Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Frequency, by Component, by Vehicle Type, by Sales Channel : Global Opportunity Analysis and Industry Forecast, 2024-2033
https://www.alliedmarketresearch.com/secure-logistics-market-A14801 - Secure Logistics Market Size, Share, Competitive Landscape and Trend Analysis Report, by Application, by Type, by Mode of Transport : Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/indonesia-cold-chain-logistics-market - Indonesia Cold Chain Logistics Market Size, Share, Competitive Landscape and Trend Analysis Report, by Business Type, End-Use Industry, Product and Technology : Indonesia Opportunity Analysis and Industry Forecast, 2021-2031
๐๐๐จ๐ฎ๐ญ ๐ฎ๐ฌ :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Download Sample Pages - https://www.alliedmarketresearch.com/request-sample/209
๐๐ซ๐ข๐ฆ๐ ๐๐๐ญ๐๐ซ๐ฆ๐ข๐ง๐๐ง๐ญ๐ฌ ๐จ๐ ๐ ๐ซ๐จ๐ฐ๐ญ๐ก
Rise in traffic jams globally, increased investment in railways, and increased inclination of governments towards CO2 emission reduction from the transportation industry drive the growth of the global intelligent transportation system (ITS) market. However, factors such as the high cost of technology restrict the market growth. However, the growth of connected and autonomous driving car and the improvement of high-speed internet and communications technologies presents new opportunities in the coming years.
The global intelligent transportation system market is segmented on the basis of component, application, and end-use. Based on components, the market is bifurcated into hardware, software, and services. Depending on applications, the market has been segregated into traffic management, freight management, advanced traveler information systems, advanced public transportation systems, security and surveillance, ticketing and tolling systems, and others. Based on end use it is fragmented into roadways, railways, waterways and airways. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
๐๐ก๐ ๐ก๐๐ซ๐๐ฐ๐๐ซ๐ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐ฌ๐ญ๐๐ญ๐ฎ๐ฌ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก๐จ๐ฎ๐ญ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
Based on component, the hardware segment held the highest market share in 2022, accounting for half of the global intelligent transportation system (ITS) market revenue, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest ๐๐๐๐ ๐จ๐ ๐.๐% from 2023 to 2032, owing to growth in investment in CCTV and other communication equipment for security and surveillance around the globe.
Inquire Before Buying - https://www.alliedmarketresearch.com/purchase-enquiry/209
๐๐ก๐ ๐จ๐ญ๐ก๐๐ซ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ข๐ฌ ๐๐ฑ๐ฉ๐๐๐ญ๐๐ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก๐จ๐ฎ๐ญ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐.
Based on application, the other segment held the highest market share in 2022, accounting for one-fourth of the global intelligent transportation system (ITS) market and is projected to manifest the highest ๐๐๐๐ ๐จ๐ ๐.๐% from 2023 to 2032 owing to the need for customized solutions for efficient, intelligent transportation systems.
๐๐ก๐ ๐ซ๐จ๐๐๐ฐ๐๐ฒ๐ฌ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
Based on end-user, the roadways segment accounted for the largest share in 2022, contributing to nearly one-third of the global intelligent transportation system (ITS) market revenue and is projected to portray a ๐๐๐๐ ๐จ๐ ๐.๐% from 2023 to 2032. The increase in government investment in the development of road networks across the globe is expected to foster market growth.
Asia-Pacific to maintain its dominance by 2031
By region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for one-third of the global intelligent transportation system (ITS) market revenue and is expected to witness the fastest ๐๐๐๐ ๐จ๐ ๐.๐% from 2023 to 2032. The strong economic growth in the region resulted in increased demand for Intelligent Transportation Systems (ITS) to effectively manage the growing transportation sector.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/intelligent-transportation-system-market/purchase-options
๐๐๐๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ: -
Siemens AG
Garmin Ltd
Denso Corporation
Thales Group
Cubic Transportation Systems, Inc.
Kapsch TrafficCom AG
Teledyne FLIR LLC
NEC Corporation
Navico Group
Alstom SA
Key Findings Of The Study
By component, the hardware segment is anticipated to exhibit significant growth in the intelligent transportation system market in the near future.
By application, the others segment is anticipated to exhibit significant growth in the market in the near future.
By end use, the roadway segment is anticipated to exhibit significant growth in the market in the near future.
By Region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ ๐๐๐ฏ๐ ๐จ๐ง ๐๐ซ๐๐ง๐ฌ๐ฉ๐จ๐ซ๐ญ๐๐ญ๐ข๐จ๐ง ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
https://www.alliedmarketresearch.com/unmanned-traffic-management-market-A07169 - Unmanned Traffic Management Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, by Application, by End User : Global Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/smart-transportation-market - Smart Transportation Market Size, Share, Competitive Landscape and Trend Analysis Report, by Solution, by Services, by Transportation Type : Global Opportunity Analysis and Industry Forecast, 2020-2030
https://www.alliedmarketresearch.com/smart-warehousing-market-A233644 - Smart Warehousing Market Size, Share, Competitive Landscape and Trend Analysis Report, by Application, by Offering : Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/automotive-smart-antenna-market-A11741 - Automotive Smart Antenna Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Frequency, by Component, by Vehicle Type, by Sales Channel : Global Opportunity Analysis and Industry Forecast, 2024-2033
https://www.alliedmarketresearch.com/secure-logistics-market-A14801 - Secure Logistics Market Size, Share, Competitive Landscape and Trend Analysis Report, by Application, by Type, by Mode of Transport : Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/indonesia-cold-chain-logistics-market - Indonesia Cold Chain Logistics Market Size, Share, Competitive Landscape and Trend Analysis Report, by Business Type, End-Use Industry, Product and Technology : Indonesia Opportunity Analysis and Industry Forecast, 2021-2031
๐๐๐จ๐ฎ๐ญ ๐ฎ๐ฌ :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+ 1 800-792-5285
email us here
Visit us on social media:
Facebook
X
LinkedIn
YouTube
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.