The Crucial Role Of Intelligent Transportation Systems In Enhancing Safety: Critical Driver Shaping the Global Intelligent Transportation Systems Market in 2025

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Intelligent Transportation Systems Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
There has been significant growth in the intelligent transportation systems market in recent years. Its value is predicted to increase from $34.72 billion in 2024 to $37.37 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.6%. The historic growth of this market can be linked to factors such as the reduction of traffic congestion, implementation of safety enhancements, goals for environmental sustainability, incident management and emergency response, the integration of public transportation, freight and logistics efficiencies, as well as the optimization of traffic signal control.

Intelligent Transportation Systems Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the market size of intelligent transportation systems is set to expand quickly. With projections reaching $56.59 billion in 2029 at a CAGR of 10.9%, the acceleration during the forecast period can be associated to the swift growth of connected vehicles, investments in smart infrastructure, traffic prediction through data analytics, dynamic road pricing systems, attention to last-mile connectivity, and concepts like smart mobility as a service (maas) and urban air mobility integration. Noteworthy trends in the forecast period comprise IoT integration, smart parking solutions, advanced driver assistance systems (ADAS), measures for cybersecurity, navigation augmented reality (AR), 5g connectivity, blockchain for transportation security, and collaborations between public and private sectors.

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What Are the Drivers Transforming the Intelligent Transportation Systems Market?
The intelligent transportation systems market is anticipated to expand due to a rise in the number of road fatalities. Such fatalities are often caused by road injuries or accidents resulting in death either instantaneously or within a month. Intelligent transportation systems help drivers prevent accidents by sensing other vehicles, bikes, and pedestrians in their vicinity, and adjusting their speed and distance accordingly. Another factor contributing to the increasing demand for these systems is the growing problem of traffic congestion. A clear indication of this is the August 2022 report by the US-based National Highway Traffic Safety Administration, a division of the Department of Transportation. The report recorded 9,560 deaths due to road accidents in the first quarter of 2022 alone, displaying a 7% rise from the projected 8,935 fatalities for the same course in 2021. This surge in road fatalities demonstrates a growing need for the intelligent transportation systems market.

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What Long-Term Trends Will Define the Future of the Intelligent Transportation Systems Market?
One significant trend gaining traction in the intelligent transportation systems market is the rise of product innovations. Major players in the industry are working on pioneering products like sustainable and automatic transportation systems to maintain their market standing. An example of this is the partnership between Equans, a technical services firm based in the US, and Optibus Ltd., a US-based transportation management software provider. In August 2024, they joined forces to introduce an intelligent transportation system tailored for improving public transportation services in the Greater Portland region. With the aim of modernizing GPTD's public transportation infrastructure, the collaboration will deploy a cutting-edge Computer-Aided Dispatch and Automatic Vehicle Location (CAD/AVL) system, along with the implementation of Automatic Passenger Counting (APC) and scheduling solutions, resulting in enhanced efficiency, responsiveness, and user convenience.

Which Segments in the Intelligent Transportation Systems Market Offer the Most Profit Potential?
The intelligent transportation systemsmarket 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 Firms Dominate the Intelligent Transportation Systems Market by Market Share and Revenue in 2025?
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 Offer the Highest Growth Potential 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.

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