Global Intelligent Transportation Management System Market By Product Type (Advanced Traveler Information System (ATIS), Advanced Traffic Management System (ATMS), and Others), By Application (Traffic Management, Road Safety and Security, and Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Intelligent Transportation Management System Market Overview:

The global market for intelligent transportation systems was valued at USD 27,154.6 million in 2021. It is expected to grow at a CAGR of 7.5% between 2023 and 2032.

Market growth is expected to be driven by the growing demand for traffic control solutions and smart vehicles that are integrated with the most recent telecommunications technology. Modern cameras and License Plate Recognitions will also increase safety and surveillance. Other factors expected to drive the growth of this market include the increasing number of vehicles on the roads, the aging infrastructure, and the lack of traffic data management.

Alternative traffic management technologies are needed because of the urgent need to manage traffic flows across highways and city corridors. Transportation authorities are eager to use advanced data analytics technologies to tackle the problem of increasing traffic.

Global Intelligent Transportation Management System Market Scope:

Type Analysis

In 2021, the market share for Advanced Traffic Management System (ATMS), was 32% of the total global revenue. The market leaders offer solutions that combine data processing technology and sensing and telecom technologies. This allows for real-time transportation management and sharing of information with travelers and drivers.

Advanced traffic management systems are required due to the increasing number of vehicles and subsequent traffic congestion. These systems could reduce travel time and improve traffic management. Advanced traffic management systems allow authorities and public safety agencies the ability to quickly and efficiently respond to emergencies and accidents.

The segment Advanced Public Transportation System (APTS), is expected to experience significant growth during the forecast period. APTS gives you a better view of the timings of trains and buses. If there are many people who use public transportation, it is possible to make aggressive investments in real-time information systems that can help commuters share real-time information about buses and trains.

Application analysis

In 2021, the traffic management segment held 31% of the market. Traffic management systems improve the reliability and performance of road networks. These systems include, among others, vehicle detection systems, bridge traffic control systems, ramp metering, and other systems. Frequent traffic jams can lead to significant financial losses due to increased travel time and higher fuel consumption.

The economic and socio-economic growth a country suffers from traffic congestion can also be severely affected. As part of their efforts to reduce government debt, governments from all parts of the globe are placing a lot of emphasis on traffic management systems.

The government initiatives to ensure safety and security on roads are responsible for the expansion of the automotive telematics market. Navigation systems and dynamic displays can help to make roads more flexible and reduce travel time. Smartphone-based apps that provide real-time information to public transport passengers are also becoming more popular in many parts of the globe. This will play an important role in the future growth of public transport.

Кеу Маrkеt Ѕеgmеntѕ

By Type

• Advanced Traveler Information System (ATIS)
• Advanced Traffic Management System (ATMS)
• Advanced Transportation Pricing System (ATPS)
• Advanced Public Transportation System (APTS)
• Emergency Medical System (EMS)

By Application

• Traffic Management
• Road Safety and Security
• Freight Management
• Public Transport
• Environment Protection
• Automotive Telematics
• Parking Management
• Road Tolling Systems

Market Dynamics:

Supply chains have been severely affected by the various restrictions, including border closures and lockdowns, imposed in various parts of the globe as part of efforts to stop the spread of coronavirus. Temporarily, manufacturing and assembling plants were also closed. The shortage of manpower is causing delays in ongoing transportation projects. The ITS ecosystem relies heavily on electronics and telecommunications and is likely to experience a slowdown. In the short term, a decrease in the deployment of smart transportation systems appears inevitable.

An ITS typically uses a combination of video surveillance devices, vehicle probes, and navigation systems to collect real-time information. This data is then analyzed by the internet, mobile telephony, or dynamic signboards and sent to the user. ITS can be used for both rail and road transport, as well as water and air transport. The adoption of ITS is expected to increase due to technological advances in sensing, telecommunications, and other areas.

However, the preference to implement an ITS is growing as one of the key factors driving the digitization and reorganization of many aspects of the transportation infrastructure. Advanced traffic management systems are required due to the increasing number of vehicles on roads and subsequent traffic congestion. These systems could reduce travel time and improve traffic management. Advanced traffic management systems allow authorities and public safety agencies the ability to quickly and efficiently respond to emergencies and accidents.

Regional Analysis

North America was the dominant marketplace in 2021, with 41%. It is a hub for technology innovation and the aggressive implementation of new technologies such as machine learning, big data, and cloud computing. Major global market players are also found in the region. Intelligent transportation systems are being adopted because of the strong focus that various governments in the region place on improving their transportation infrastructure. In response to increasing traffic and subsequent congestion, a number of public-private collaborations are being made in North America to implement intelligent transportation systems.

However, technological advancements and the expansion of transport networks will drive Asia Pacific’s ITS market growth. In countries like Japan, India, China, and China, the economic benefits of ITS deployment are especially notable. Intelligent transportation systems can not only reduce travel times and congestion but also provide monetary benefits for vehicle owners through a reduction in fuel consumption. Automobile manufacturers from both developed and developing countries are integrating these systems into their future models.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Market players are investing in research and development activities. They also invest in improving internal processes, engaging in new product development, and improving existing products to increase their market share. To develop innovative products and increase their market share, they are also looking at strategic partnerships and mergers and acquisitions. DENSO CORPORATION partnered in January 2021 with Aeva, a company that develops LiDAR and perception systems for autonomous vehicles.

This partnership was to develop sensing systems and perception systems. Two companies will develop Frequency Modulated Continuous-Wave (FMCW), LiDARs that can help measure the vehicle’s velocity and reflectivity.

To drive organic growth, market players invest heavily in research and development. Hitachi, Ltd., for example, introduced an automated parking brake (APBHD) that is heavy-duty and can be used on vans, SUVs, pickup trucks, and light commercial cars in October 2020. This new system improves APB safety, and system management, and extends the use of this technology.

Маrkеt Кеу Рlауеrѕ:

• Addco
• Agero, Inc.
• DENSO CORPORATION
• EFKON GmbH
• Hitachi, Ltd.
• Garmin Ltd.
• Thales Group
• Xerox Corporation
• Other Key Players

For the Intelligent Transportation Management System Market research study, the following years have been considered to estimate the market size: