The Crucial Role Of Intelligent Transportation Systems In Enhancing Safety: Transformative Forces Shaping the Intelligent Transportation Systems Market Landscape in 2025

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What Will the Intelligent Transportation Systems Industry Market Size Be by 2025?
The market size for intelligent transportation systems has seen significant growth in the past few years. The market, which was valued at $34.72 billion in 2024, is predicted to increase to $37.75 billion in 2025, with a compound annual growth rate (CAGR) of 8.7%. Factors that have contributed to the growth during the historical period include measures to alleviate traffic congestion, improving safety, pursuing environmental sustainability targets, managing emergencies and incidents, integrating public transportation, improving freight and logistics efficiency, and optimizing traffic signal control.

What's the Long-Term Growth Forecast for the Intelligent Transportation Systems Market Size Through 2029?
Rapid expansion is anticipated in the intelligent transportation systems market in the coming years, as it's projected to reach a value of $58.78 billion in 2029, growing at a compound annual growth rate (CAGR) of 11.7%. The expected surge during the forecast period can be credited to the swift rise of interconnected vehicles, substantial investments in smart infrastructure, the use of data analytics in traffic prediction, the implementation of dynamic road pricing systems, an emphasis on last mile connectivity, as well as innovative concepts like smart mobility as a service (maas) and the integration of urban air mobility. Key trends to look out for during this period include the integration of the Internet of Things (IoT), the improvement of advanced driver assistance systems (ADAS), the development of smart parking solutions, the enhancement of cybersecurity measures, the use of augmented reality (AR) in navigation, the advent of 5G connectivity, the application of blockchain for securing transportation, and cooperation between public and private sectors.

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What Are the Key Growth Drivers Fueling the Intelligent Transportation Systems Market Expansion?
The escalating count of fatalities due to road accidents is predicted to fuel the growth of the intelligent transportation systems market. Road fatality refers to the death of a person immediately or within a span of 30 days following a road mishap. Intelligent transportation systems refer to those systems designed to help drivers avoid accidents. They do this by detecting nearby vehicles, motorcycles, and pedestrians, subsequently adjusting the speed and distance from other vehicles. Additionally, the increase in road traffic jams has augmented the need for intelligent transportation systems. For example, a study by the US-based National Highway Traffic Safety Administration (NHTSA), a constituent of the Department of Transportation, reported that in the initial quarter of 2022, 9,560 individuals lost their lives in road mishaps. This figure illustrates a 7% ascent from the estimated 8,935 deaths during the corresponding period of 2021. Thus, the mounting number of road fatalities is expected to catalyze the intelligent transportation systems market.

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What Are the Key Trends Driving Intelligent Transportation Systems Market Growth?
The trend towards product innovation is becoming increasingly significant within the smart transportation systems market. Industry-leading companies are inventing advanced products, such as automated and eco-friendly transportation systems, to maintain their market share and presence. For example, in August of 2024, the American technical service provider, Equans, joined forces with US-based Optibus Ltd., a transport management software company. Their project was to introduce a smart transportation system designed to improve public transport services within the Greater Portland area. This partnership focuses on implementing a contemporary Computer-Aided Dispatch and Automatic Vehicle Location (CAD/AVL) system, supplemented by Automatic Passenger Counting (APC) and scheduling services. The primary goal of this alliance is to upgrade GPTD's public transportation structure, improving its efficiency, responsiveness, and ease of use.

How Is the Intelligent Transportation Systems Market Segmented?
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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Which Companies Are Leading the Charge in Intelligent Transportation Systems Market Innovation?
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.

Which Regions Are Leading the Global Intelligent Transportation Systems Market in Revenue?
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.

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