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Intelligent Transportation System Market Worth $52.24 Billion by 2030: Grand View Research, Inc.

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The global intelligent transportation system market size is expected to reach USD 52.24 billion by 2030 and is expected to expand at a CAGR of 8.3% from 2023 to 2030, according to a new Grand View Research, Inc. The continuous advancements in technologies of transportation networks have accelerated the demand for highly efficient transportation systems.

Key Industry Insights & Findings from the report:

  • The Advanced Public Transportation System (APTS) segment is expected to witness considerable growth at 10.2% CAGR over the forecast period. The APTS system’s various benefits such as improving road congestion & community mobility offer an equitable transportation system and improve the fuel efficiency of the vehicles, creating robust market opportunities.
  • The automotive telematics segment is anticipated to register the highest CAGR of 9.9% through 2030. Advancements in 5G connectivity, supportive government initiatives for the automobile sector, and the increasing role of smartphones in automotive applications, are expected to drive the segment growth notable in the forecast period.
  • The Asia Pacific intelligent transportation system market is expected to witness considerable growth with a CAGR of 11.0% from 2023 to 2030. The high demand for advanced telecommunications and automotive technologies and heavy investments in the development and adoption of ITS solutions across SingaporeIndiaChina, and Japan which is driving the ITS industry growth in the region.
  • The rising adoption of the fourth industrial revolution is likely to boost the growth of smart cities across Asia Pacific countries, which, in turn, will accelerate the demand for intelligent transport solutions, supporting new demand trends in the industry.

Read 160-page market research report, “Intelligent Transportation System Market Size, Share & Trends Analysis Report By Type, By Application (Traffic Management, Road Safety & Security), By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.

Intelligent Transportation System Market Growth & Trends

The latest technologies, such as electronic toll collection and blind-spot detection have led to continuously redefining the prospects and expectations for sustainable management of traffic and transportation networks. The growing need to present real-time traffic information, equipped with artificial intelligence and virtual reality, to enhance the safety of drivers and passengers is boosting the growth of the intelligent transportation system (ITS) industry.

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The evolution of IT systems and growing telecommunications technologies adoption is anticipated to assist in reducing air pollution, traffic congestion, and delays. Furthermore, the implementation of modern traffic management systems that focus on utilizing real-time data and simultaneously address the impact criteria is creating a positive market outlook.

The integration of energy distribution & charging systems such as smart grids in ITS helps distribution agencies in real-time data utilizations to plan and implement capacity expansion strategies for the future. This is expected to support the market growth during the forecast period. According to the reports drafted by the Department of Transport of the Republic of Korea on the ITS development strategy, ITS can help in reducing traffic congestion, fuel consumption, greenhouse emissions, and prevent automobile idling.

The growing data volumes involved in ITS are creating the need for driving demand for advanced data processing solutions across the globe. The market players are developing their ITS solutions integrated with Artificial Intelligence (AI) and its applications to attract potential business clients. For instance, in December 2020, Lanner unveiled its Edge AI computing and connectivity services for multiple mobile applications.

The deployment of the Edge AI computing and connectivity services on ferries, fleets, subways, and trucks enabled fleet managers to digitalize their tasks and monitor distributed vehicles remotely with a consolidated management solution has accelerated the ITS industry growth.

Intelligent Transportation System Market Segmentation

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Grand View Research has segmented the global intelligent transportation system market based on type, application, and region

Intelligent Transportation System (ITS) Market – Type Outlook (Revenue, USD Million, 2018 – 2030)

  • Advanced Traveler Information System (ATIS)
  • Advanced Traffic Management System (ATMS)
  • Advanced Transportation Pricing System (ATPS)
  • Advanced Public Transportation System (APTS)
  • Emergency Medical System (EMS)

Intelligent Transportation System (ITS) Market – Application Outlook (Revenue, USD Million, 2018 – 2030)

  • Traffic Management
  • Road Safety And Security
  • Freight Management
  • Public Transport
  • Environment Protection
  • Automotive Telematics
  • Parking Management
  • Road Tolling Systems

Intelligent Transportation System (ITS) Market – Regional Outlook (Revenue, USD Million, 2018 – 2030)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • UAE
    • KSA

List of Key Players in the Intelligent Transportation System Market

  • Agero, Inc.
  • DENSO CORPORATION
  • EFKON GmbH
  • Hitachi, Ltd.
  • Garmin Ltd.
  • Thales Group
  • Xerox Corporation
  • Ricardo
  • Sensys Networks, Inc.
  • Telenav, Inc.
  • Iteris, Inc.
  • Kapsch TrafficCom
  • Lanner
  • Nuance Communications, Inc.
  • Q-Free ASA
  • Siemens AG
  • TomTom International BV
  • TransCore

Check out more related studies published by Grand View Research:

  • Vehicle Tracking System Market – The global vehicle tracking system market size is anticipated to be worth USD 60.88 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to grow at a CAGR of 13.9% from 2022 to 2030. Factors such as technological iterations and growing digitization within the automotive industry, paired with the continuous growth of the logistics and automobile industry worldwide, are encouraging the growth of the market. The surge in the sales of heavy and light commercial vehicles is also expected to drive the growth of the market.
  • Public Transportation Market – The global public transportation market size is expected to reach USD 309.1 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.9% from 2022 to 2028. The market is driven by the economic growth in Asia Pacific and the Middle East and Africa and the increasing number of megacities in the region. According to the World Economic Forum data, by the year 2030, six cities will emerge as new megacities, including Dar es Salaam, Luanda, and Chennai, as the population keeps flocking to urban areas. Increasing government initiatives and the development of smart cities also facilitate the growth of public transportation.
  • Smart Transportation Market – The global smart transportation market size is estimated to reach USD 285.12 billion by 2030, growing at a CAGR of 12.6% from 2022 to 2030, according to a new study by Grand View Research, Inc. The need for an efficient management system is predicted to increase with the growing number of on-road cars and the reducing efficiency of existing transport infrastructure. Favorable government initiatives for building better infrastructure and smooth running of existing transport systems are expected to boost the market growth.

Artificial Intelligence

Global AI Summit Calls for Global Action to Guarantee AI Innovation is for the “Good of Humanity”

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RIYADH, Saudi Arabia, Sept. 14, 2024 /PRNewswire/ — The Global AI Summit (GAIN) in Riyadh concluded on a high, after the summit welcomed more than 30,000 delegates from across the globe over three days. The live stream of the summit, organized by the Saudi Data and AI Authority (SDAIA), received 3.7m views.

Building on the success of previous editions, GAIN 2024 featured more than 450 speakers from 100 countries, participating in 150 sessions. It also witnessed over 25 launches and announcements, and facilitated the signing of over 80 agreements and Memoranda of Understanding (MoUs).
The summit has grown exponentially since its inception in 2020. Its growing prominence reflects the Kingdom of Saudi Arabia’s role in advancing AI capabilities as it positions itself as a global leader in this space.
The key output from the summit was the need for governments and policy makers to take global action to ensure that AI technology evolves for the good of humanity. Central to responsible evolution is an ethical framework and robust governance.
To support the advancement of AI ethics and governance, SDAIA announced the Riyadh Charter of Artificial Intelligence for the Islamic World in collaboration with the Islamic World Educational, Scientific, and Cultural Organization (ICESCO). This promotes ethical AI grounded in Islamic values and principles, as well as sustainable development through international cooperation.
SDAIA has played a pivotal role in forging key collaborations to strengthen local and regional AI solutions, signing MoUs with Microsoft Arabia to develop Arabic language models, IBM for a Center of Excellence in Generative AI technologies, and NVIDIA to scale AI infrastructure across the Kingdom.
The summit also marked several major milestones. Alongside the unveiling of ALLaM, the world’s most advanced Arabic Language Model, other diverse initiatives such as the Global AI Community, the THAKAI Platform, and guidelines for addressing deepfake technology.
Furthermore, the launch of the Generative AI Center of Excellence by the Digital Cooperation Organization (DCO), the agreement to open an International Center for AI Research and Ethics (ICAIRE) as a UNESCO Category 2 Center, further underscored the impact of GAIN 2024.
The summit itself provided the platform for companies from all over the world to showcase the latest AI technologies and innovations, including AI generated avatars, AI generated artwork, and even Robotic bar staff serving beverages.
The summit closed with an inspirational speech from the Director of Saudi Arabia’s National Information Center, His Excellency Dr. Esam Alwagait, in which he thanked participants:
“Your candid perspectives have not only inspired us with the vision of what lies ahead, but have also grounded us in the realities we must face. Together, we have not only imagined the future of AI, but have also made it real by addressing the challenges and identifying the enablers needed to truly unlock its potential.”
He added:
“It has been incredibly inspiring to see the world come together here in Riyadh, united by momentum to make AI work for everyone. The commitment to collaborative action has been evident throughout the summit.” 
The success of GAIN 2024 ensures that the Kingdom’s AI infrastructure will be significantly strengthened and has cemented Saudi Arabia position at the center of global AI.
[email protected]
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Akuvox S567G Smart Indoor Monitor Has Received Google Mobile Service Certification

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XIAMEN, China, Sept. 13, 2024 /PRNewswire/ — Akuvox has announced its S567G, an indoor monitor powered by Android™, to have received Google GMS certification. This certification ensures full support for Google Services, allowing users to download and update apps directly from the Google Play Store, including smart home control apps. It also enhances system security, protecting against malware and unauthorized access.

GMS certification involves comprehensive testing and approval by Google or a designated 3PL lab, validating security and compatibility to ensure seamless integration within the Android ecosystem. Receiving GMS certification underscores Akuvox’s leadership in the smart intercom industry. Building on its legacy as the pioneer of Android smart intercoms, Akuvox continues to elevate its Android systems with Google’s rigorous certification, offering clients flexible and sophisticated smart intercom solutions. 
The S567G’s GMS certification ensures flawless operation with key Google apps like Chrome, Gmail, YouTube, Maps, and the Play Store. Edward Shi, Product Manager of the S567G, notes, “The positive feedback we’ve received from clients, even during testing, confirms that this device is transforming daily life. It’s more than just an intercom — it’s a versatile tool, even capable of functioning as a small TV. Our team has worked tirelessly to meet the highest standards, and I’m excited to see how it enhances smart living for our users.”
The S567G’s features extend beyond intercom functionality. With four HD speakers and a 1280 x 800 IPS LCD screen, it offers an exceptional audio-visual experience, redefining the concept of an indoor monitor. Whether for entertainment or smart home control, the S567G stands out as a versatile wall-mounted tablet, bringing innovation to every interaction.
About Akuvox
Akuvox is a global leading provider of smart intercom and smart home products and solutions. It is committed to unleashing the power of technology to improve people’s lives with better communication, greater security, and more convenience. Encompassing artificial intelligence, SIP, Android, cloud, security, and other advanced technologies, Akuvox continuously drives breakthrough changes in the industry and creatively delivers an unrivaled portfolio of smart intercom and smart home products and solutions. It has been deployed and used daily in more than 110 countries and regions, meeting customer needs in various vertical markets that range from residential to commercial, from healthcare to public safety.
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SeaBubbles Accelerates Sustainable Maritime Mobility with SmartBubble and Strategic Acquisition

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SAINT JORIOZ, France, Sept. 13, 2024 /PRNewswire/ — SeaBubbles, French pioneer in zero-emission hydrofoils, strengthens its commitment to ecological transition with the launch of SmartBubble, new flying boat model combining cutting-edge technology with iconic design. This innovative vessel, designed to carry up to eight people at a speed of 16 knots (30 km/h), takes its passengers on a silent and environmentally friendly flight, ideal for water taxi services and urban transportation.

SmartBubble: Concentration of Technology and Design
Following the success of its first public line on Lake Annecy, where hundreds of passengers experienced the unique sensation of flying aboard The Bubble (4-seater model), SeaBubbles reaches a new milestone with the homologation of the SmartBubble (8-seater model) and its four patents, including retractable foils.
SmartBubble technology is geared towards energy efficiency. The submerged wings (foils) equipped with automatic flaps allow to fly at low speeds, saving 40% of energy required. This unique boat has just been presented afloat for the first time at the Cannes Yachting Festival.
SeaBubbles Strengthens Flight Control Expertise with Neocean Acquisition
SeaBubbles also announces the acquisition of Neocean technology, to accelerate the development of flight control expertise, specifically on “inverted T” foils. Neocean is renowned for developing the Overboat, foiling catamaran with proven stability and maneuverability.
SeaBubbles is a key player in hydrofoil navigation, technology that improves energy efficiency of boats, particularly electric ones. The flight control system is a central element of the flight experience: it is designed to ensure stable flight by dynamically and autonomously managing the mechanical inclination of the flaps on the trailing edges of the foils.
SeaBubbles: Vision for the Future
SeaBubbles’ ambition is to revolutionize urban and suburban maritime transport with more efficient and environmentally friendly boats. Examples such as the Calanques National Park, Norwegian fjords, alpine lakes or the canals of Amsterdam demonstrate a committed initiative towards the preservation of aquatic ecosystems by gradually banning the circulation of thermal boats.
“Foils significantly reduce the drag of our boats, allowing our hydrofoils to move more easily and with less energy than a conventional boat: a considerable gain in cost and energy,” explains Virginie Seurat, CEO of SeaBubbles. “The acquisition of Neocean marks a decisive turning point and prepares us for our industrialization phase. We are ready to redefine the pleasure of boating and offer boats that comply with increasingly stringent environmental standards, while offering unique sailing comfort – zero noise, zero waves, zero emissions.”
AxiCom for SeaBubbles, [email protected] 
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