Intelligent Transportation System Market

Siemens (Germany) and Thales Group (France) are Leading Players in the Intelligent Transportation System Market

The global intelligent transportation system (ITS) market is projected to reach USD 68.0 billion by 2026 from an estimated USD 42.2 billion in 2021, at a CAGR of 10.0% from 2021 to 2026. The growth of the ITS market can be attributed to the rapid development of smart cities globally and the increasing demand for security and surveillance in the railways.

Siemens (Germany); Thales Group (France); Kapsch TrafficCom (Austria); Cubic Corporation (US); Conduent, Inc. (US); Garmin Ltd. (US); TomTom International BV (Netherlands); Teledyne FLIR Systems, Inc. (US); Indra Sistemas (Spain); and Denso Corporation (Japan); are some of the key players in the ITS market. These players have adopted various strategies, such as product launches, partnerships, contracts, collaborations, acquisitions, and expansions, to expand their presence globally and increase their shares in the global ITS market. Product launches have been the key players most dominating strategy from January 2019 to December 2021 to help them broaden their customer base.

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Siemens (Germany)

Siemens is a global technology company catering to the electrification, automation, and digitalization fields. The company diverts a large share of its resources toward R&D, which helps it stay alongside the industrys changes, provides it with a “first mover” advantage, and enables it to deliver advanced products and services to its customers. The company aims to expand its presence in the global ITS market by launching innovative products. For instance, Siemens launched the world’s first pilot project for simplifying the search for a parking space in Berlin. Also, the company has signed many partnership agreements and contracts with key market players for global expansion. In November 2020, Siemens Mobility partnered with ASFiNAG, the operator of the Austrian highway network, to provide a technology for the intelligent traffic management system that facilitates the exchange of safety information between vehicles and the road.

Thales Group (France)

Thales Group is a global technology leader in the aerospace & defense, transport, and security markets. It is an established brand and has a strong presence in all major markets across regions. For instance, the company generates a significant share of its revenue from the European market. Also, the company invests significantly in R&D activities. For example, in FY 2020, the company invested approximately 6–7 % of its revenue in R&D activities. The company mainly focuses on adopting an inorganic growth strategy, including contracts and agreements to stay ahead in the market.

Kapsch TrafficCom (Austria)

Kapsch TrafficCom is a global supplier of superior technologies, solutions, and services related to the ITS market. The companys core business is the development of electronic toll collection and traffic management systems. The company offers innovative solutions for tolling, tolling services, traffic management, and demand management applications. It provides electronic toll collection systems with a multi-technology approach to meet all types of requirements and standards. Kapsch TrafficCom continuously expands its operational footprint by signing new contracts, opening new subsidiaries and business units, and acquiring other companies. For instance, in June 2019, Kapsch TrafficCom signed a contract with the Canadian IBI Group to expand its toll management business in Europe.

Cubic Corporation (US)

Cubic Corporation is one of the leading providers of payment and information solutions and related services for intelligent travel applications. It delivers integrated systems for transportation and traffic management, provides tools for travelers to choose the smartest and easiest way to travel and pay for their journeys, and enables transportation authorities and agencies to manage demand across the entire transportation network. NextCity is the company’s vision for city management and integrated traveler payment and information that centers on three principles: the delivery of an integrated customer experience, one account, and integrated operations and analytics. The company is focusing on adopting organic and inorganic growth strategies, including product launches, contracts, collaborations, agreements, and acquisitions. The company has a significant presence in the US.

Conduent, Inc. (US)

Conduent, Inc. has a diverse product portfolio of intelligent transportation systems. The company focuses on collaborating with clients, partners, government agencies, and internal associates to deliver mission-critical services and solutions. It is also adopting contracts as a key growth strategy. For instance, in June 2020, Conduent Transportation received a contract from the City of Santa Monica, California, US, to provide intelligent parking and curbside management systems and services.

Related Reports:

Intelligent Transportation System Market with COVID-19 Impact Analysis by Offering, System (Advanced Traffic Management Systems, ITS-enabled Transportation Pricing Systems, and Others), Application and Geography - Global Forecast to 2026

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Intelligent Transportation System Market Size,  Share & Growth Report
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