Global Intelligent Transportation System Market Size study, by Mode of Transport (Roadways, Airways, and Railways), By Type (ATMS, ATPS, ATIS, APTS, and Other Types), by Deployment mode (On-premise and cloud) And Regional Forecasts 2019-2026

Global Intelligent Transportation System Market is valued approximately USD 21.83 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 5.25% over the forecast period 2019-2026. The rising demand for efficient and cost-effective transportation and goods-delivery system owing to rapid urbanization along with increased road congestion. Intelligent transportation system is the integration of modern technologies which includes internet of things, artificial intelligence and management strategies into transportation system with an aim to provide innovative services relating to different modes of transport and traffic management. Intelligent transportation system offers a cost-effective mode of travel and enhances consumer travel experience at a relatively lesser time as compared to traditional transportation services. Intelligent transportation system serves as a replacement of modern transportation services and provides an alternative solution in urban areas where traffic congestion is affecting the economic growth of the area. For instance, according to a report of global vehicular traffic by INRIX, transportation consulting firm, in 2018 in US traffic congestion cost $305 billion. Moreover, in Los Angeles, the driver spends an average of 102 hours sitting in traffic every year which cost more than $19 billion annually. Integration of artificial intelligence with transportation system along with the advancement in autonomy, data analytics and hybrid and automated electric propulsion has offered the opportunity to the service providers to tap into the potential market. The rising demand for alternate mode of transportation has led to the development of Intelligent transportation for enhanced safety and security along with promotion of green fuels which tends to increase the market share of Intelligent transportation. The need for effective management of natural resources and increase in focus on environment sustainability has fostered the market share of Intelligent transportation solutions. Moreover, favorable government initiatives and norms to reduce pollution along with the reduction in traffic congestion has led to the rising demand for Intelligent transportation market. For instance, Roads and Transport Authority (RTA) of Dubai has announced the new Intelligent transport strategy 2017-2021 with an aim to make 25 percent of the city’s road trip by autonomous vehicles by 2030. The strategy was also aimed to execute 34 projects ranging from self-driving buses, autonomous drones and taxis along with expansion of information kiosks and pedestrian crossings. Moreover, the rising investment from private and public transportation system manufacturers towards the development of more enhanced intelligent mobility solutions tend to accelerate the market share of Intelligent transportation. However, the high initial capital investment along with the requirement of skilled workforce tends to restrain the market share of Intelligent transportation. The large amount of data generated by the transportation requires huge database where the data can be stored which hampers the market share.
The regional analysis of Intelligent Transportation System Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is expected to register significant market share owing to the widespread adoption of IoT sensors in a wide range of road transport applications which includes traffic management, smart parking along with car navigation.
Major market player included in this report are:
Denso Corporation
Kapsch TrafficCom
Moxa Inc.
Siemens AG
Thales Group
TomTom N.V.
TransCore
EFKON AG
Hitachi, Ltd.
Nuance Communications
PTV Group
Q-Free ASA
WS Atkins PLC
Xerox Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Mode of Transport:
Roadways
Airways
Railways
By Type:
ATMS
ATPS
ATIS
APTS
Other Types
By Deployment mode:
On-premise
Cloud
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026

Target Audience of the Intelligent Transportation System Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors