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The Crucial Role Of Intelligent Transportation Systems In Enhancing Safety: An Emerging Driver Transforming The Intelligent Transportation Systems Market Landscape

04-15-2025 07:35 AM CET | IT, New Media & Software

Press release from: The Business Research Company

Intelligent Transportation Systems

Intelligent Transportation Systems

The Intelligent Transportation Systems Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Intelligent Transportation Systems Market?
In recent years, the market size of intelligent transportation systems has experienced a significant expansion. The market, which is projected to rise from $34.72 billion in 2024 to $37.75 billion in 2025, is predicted to have a compound annual growth rate (CAGR) of 8.7%. The surge in the historical period is largely due to efforts to alleviate traffic congestion, increase safety measures, realize environmental sustainability objectives, manage emergencies and incidents, integrate public transportation, increase efficiency in freight and logistics, and optimize traffic signal control.

The market size for intelligent transportation systems is projected to witness swift expansion in the ensuing years, increasing to $58.78 billion in 2029 with an 11.7% compound annual growth rate (CAGR). The surge during the projection period can be ascribed to the growing number of connected automobiles, investments in smart infrastructure, traffic prediction through data analytics, dynamic road charging systems, emphasis on last-mile connectivity and the integration of urban air mobility. Regarding future trends, those expected to gain traction include the integration of Internet of Things (IoT), development of advanced driver assistance systems (ADAS), smart parking systems, measures for cybersecurity, the application of augmented reality (AR) in navigation, 5G internet connection, application of blockchain for transportation security, and collaborations between public and private entities.

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What Are the Different Intelligent Transportation Systems Market Segments?
The intelligent transportation systems market covered in this report is segmented -

1) By Offering: Hardware, Software, Services
2) By System: Advanced Traffic Management System, Cooperative Vehicle System, Advanced Public Transportation System, Advanced Traveler Information System, Advanced Transportation Pricing Systems
3) By Application: Roadways, Aviation, Railways, Maritime

Subsegments:
1) By Hardware: Traffic Management Devices, Communication Equipment, Onboard Units (OBUs) For Vehicles, Electronic Toll Collection (ETC) Devices
2) By Software: Traffic Management Software, Fleet Management Software, Advanced Traveler Information Systems (ATIS), Incident Management Software, Data Analytics Software
3) By Services: Consulting Services, System Integration Services, Maintenance And Support Services, Training And Education Services

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What Are the Primary Drivers Shaping the Intelligent Transportation Systems Market?
The surge in road deaths is anticipated to drive the growth of the intelligent transportation systems market. Road fatalities are described as anyone who dies instantly or within a month due to a road accident or injury. Intelligent transportation systems are designed to aid drivers in dodging accidents, by recognizing nearby cars, motorcycles, and pedestrians, as well as managing their driving speed and space between other vehicles. Additionally, the escalation of road traffic congestion has boosted the appeal for these intelligent systems. For example, a report released by the National Highway Traffic Safety Administration (NHTSA), a US agency under the Department of Transportation, stated that in the initial quarter of 2022, there were 9,560 road accident deaths. This figure represents a 7% upsurge from the estimated 8,935 fatalities in the equivalent period during 2021. Thus, the rise in road deaths is expected to foster the intelligent transportation systems market.

Which Companies Are Leading in the Intelligent Transportation Systems Market?
Major companies operating in the intelligent transportation systems market are Denso Corporation, EFKON GmbH, Garmin Ltd., Thales Group, Kapsch TrafficCom AG, Lanner Electronic Inc., Siemens Aktiengesellschaft, Cubic Corporation, TomTom International B.V., Indra Sistemas S.A., Q-Free ASA, Iteris Inc., Hitachi Ltd., Nuance Communications Inc., Teledyne FLIR LLC, The International Business Machines Corporation, Advantech Co. Ltd., TransCore Holdings Inc., Savari Inc., Addco LLC, Ricardo PLC, Xerox Corporation, Traffic Tech Inc., Alstom SA, Cisco Systems Inc., Intel Corporation, Omnitracs LLC, Panasonic Corporation, Qualcomm Technologies Inc., Trimble Inc.

What Are the Major Trends Shaping the Intelligent Transportation Systems Market?
Innovations in product development have become a critical trend driving the intelligent transportation systems market. Top firms in the market are crafting novel products like automated and sustainable transportation systems to keep their market presence steady. For instance, in August 2024, a US-based technical service provider, Equans, teamed up with Optibus Ltd., a US-based transportation management software company, to introduce an intelligent transportation system designed to boost public transportation services in the Greater Portland region. This alliance looks to implement a modernized Computer-Aided Dispatch and Automatic Vehicle Location (CAD/AVL) system, coupled with Automatic Passenger Counting (APC) and scheduling solutions. The objective of this partnership is to upgrade GPTD's public transport infrastructure to enhance efficiency, responsiveness, and ease-of-use.

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https://www.thebusinessresearchcompany.com/report/intelligent-transportation-systems-global-market-report

What Are the Top Revenue-Generating Geographies in the Intelligent Transportation Systems Market?
North America was the largest region in the intelligent transportation system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global intelligent transportation systems optical components market share during the forecast period. The regions covered in the intelligent transportation systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Intelligent Transportation Systems Market?
2. What is the CAGR expected in the Intelligent Transportation Systems Market?
3. What Are the Key Innovations Transforming the Intelligent Transportation Systems Industry?
4. Which Region Is Leading the Intelligent Transportation Systems Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

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