Top Companies in Intelligent Transportation System Market | Key Players Growth rate, Market Forecast, Market Future Data, Company Market Share | Vantage Market Research
The rising number of super urban communities and the populace development in created and agricultural nations has expanded the significance of conveying an Intelligent Transportation System (ITS).
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MARKET OVERVIEW
The Global Intelligent Transportation System Market is valued at USD 39.5 Billion in the year 2021 and is projected to reach a value of USD 68.8 Billion by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 9.7% over the forecast period. Intelligent Transport Systems refers to the advanced technologies that exist in vehicles, infrastructure, and operating systems, which make the vehicles intelligent. As ITS technologies are used in numerous industries beyond transportation and logistics, the use of such systems is growing swiftly. Government regulations and inventiveness are the most important operating for the growth and development of the intelligent transportation system market. The increasing road safety concerns and increasing vehicle theft, governments across the world, mainly in the countries like the United States, Europe, China, and Brazil, among others, require the installation of factory-fitted telematics and safety devices in vehicles. While such applications are increasing the demand for ITS across the globe, the high cost of these systems makes it difficult for many manufacturers to keep the prices of the end-product low, mainly to slow market penetration.
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Some of the key players operating in the Intelligent Transportation System Market are listed below:
|
Company Name |
Revenue in the US |
|
$70 Billion |
|
$20 Billion |
|
$551 Million |
|
$1 Billion |
|
$4 Billion |
|
$4 Billion |
|
$57 Billion |
|
$1 Billion |
|
<$5 Million |
|
$47 Billion |
Siemens AG operates as a technology company focused on industry, infrastructure, transport, and healthcare. The Company operates through the following segments: Digital Industries, Smart Infrastructure, Mobility, Siemens Healthineers, and Siemens Financial Services. The company headquartered in Munich, Germany; was founded by Johann Georg Halske and Werner von Siemens on October 12, 1847.
Thales designs and builds aerospace and defense electrical systems. The Company offers flight avionics equipment, navigation solutions, and deck systems. The Company also provides telecommunications satellites, signaling systems, and air traffic management and maintenance services. Thales serves aviation, space, transportation, defense, and security markets worldwide. The company was founded in 2000 and headquarter is in Paris, France.
Kapsch TrafficCom AG provides technologies, solutions, and services for implementing intelligent transportation systems. It primarily operates through two segments, Tolling and Traffic Management. The company offers solutions, including tolling, tolling services, traffic management, and traffic demand management. The company was established in 1892 and is headquartered in Vienna, Austria.
Cubic Corporation, through its defense group, provides instrumented air and ground combat training systems, battle command training, and simulation support for military forces. The Company also produces avionics, data links, and communications products. Cubic's transportation group provides intermodal ticketing systems for public transit projects worldwide. The company was founded in 1949 and the company headquarters are in San Diego, United States.
Conduent Inc. is a technology-led business process Services Company headquartered in New Jersey, United States. The Company was established in 2017 as a divestiture from Xerox. The Company offers digital platforms for its clients in various businesses and governments.
Garmin Ltd. engages in the provision of navigation, communications and information devices, most of which are enabled by Global Positioning System (GPS) technology. The Company operates through its segments: Marine, Outdoor, Fitness, Auto OEM, Consumer Auto, and Aviation. The company headquarters are Olathe, United States and founded in the year 1989.
International Business Machines Corp. is one of the largest information technology companies established in 1911 and headquartered in Armonk, United States. The Company provides integrated solutions that leverage information technology and knowledge of business processes. The Company operates through the following segments: Software, Consulting, Infrastructure, Financing, and Others. IBM Corporation includes all software, except operating system software reported in the infrastructure segment.
Teledyne FLIR (formerly known as FLIR Systems) is a provider of sensing solutions for government, defense, industrial, and commercial markets. The company designs, develops, manufactures, and distributes thermal imaging, visible-light imaging, video analytics, measurement and diagnostics, and advanced threat detection systems. Its products can be used for a range of applications, including situational awareness, airborne and ground-based surveillance, condition monitoring, navigation, recreation, research and development, manufacturing process control, and search and rescue. It was founded in the year 1978. The headquarters are situated in Wilsonville, Oregon.
It is a developer of transportation technology designed for mobile solutions for tolling and other location-based mobility Services. The Company integrates smartphone geofencing, RFID technology, and a user-friendly application for use in the tolling and mobile payments industries, enabling toll operators and agencies to reduce pay-by-plate collection costs and customers to buy and keep a toll tag. The company was founded in the year 2012 and the headquarters are in Copper City, Michigan.
Denso Corporation manufactures automotive components and systems, as well as several industrial products and home appliances. The Company's main businesses are powertrain control systems, electrification systems, thermal systems, sensors/semiconductor systems, and mobility systems. The company operates globally and has its clientele spread worldwide and was established in 1949 because of spinning out of Toyota Motor. The Company is headquartered in Kariya, Japan.
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