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3. Intelligent Transportation System Companies - Siemens (Germany) and Hitachi Ltd. (Japan) are the Key Players

The global intelligent transportation system market is expected to reach USD 70.7 billion in 2029 from USD 50.7 billion in 2024, at a CAGR of 6.9% during the forecast period. Rising urbanization and investments in smart cities in emerging economies are the major driving factors for the market's growth.

The key players operating in the intelligent transportation system market — Siemens (Germany), Hitachi Ltd. (Japan), Cubic Corporation (US), Conduent Incorporated (US), Kapsch TrafficCom AG (Austria), Denso Corporation (Japan), Teledyne Technologies Incorporated (US), Indra SIstemas S.A. (Spain), Garmin Ltd. (US), and Tomtom International BV (Netherlands), Verra Mobility (US), Swarco (Austria), ST Engineering (Singapore), Iteris Inc. (US), Q-Free (Norway), Serco Group PLC (UK), EFKON GMBH (Austria), Lanner (Taiwan), Sensys Gatso Group AB (Sweden), Tagmaster (Sweden), Ricardo (UK), Transmax Pty, Ltd. (Australia), Daktronics (US), Geotoll (US), Cellint (Israel). These players have adopted various growth strategies to strengthen their intelligent transportation system market position. The methods include product launches, expansions, partnerships, collaborations, and mergers and acquisitions.

To know about the assumptions considered for the study download the pdf brochure

Major Intelligent Transportation System companies include:

• Siemens (Germany)
• Hitachi Ltd. (Japan)
• Cubic Corporation (US)
• Conduent Incorporated (US)
• Kapsch TrafficCom AG (Austria)
• Denso Corporation (Japan)
• Teledyne Technologies Incorporated (US)
• Indra SIstemas S.A. (Spain)
• Garmin Ltd. (US)
• Tomtom International BV (Netherlands)

Siemens (Germany)

Siemens offers its products and solutions in segments, including the industrial business segment and Siemens financial services. The industrial segment includes digital industries, Siemens Healthliners, innovative infrastructure, and mobility. The company offers ITS solutions through the mobility segment, which covers rail transportation, which includes rolling stock and rail infrastructure. The company has established electrifying trains, railways, industrial automation, motors, and drives. It is known for segments such as electrification, automation, and digitalization. Moreover, the company uses strategies such as partnerships and collaborations to gain a competitive advantage.

Hitachi Ltd. (Japan)

Hitachi Ltd. is a manufacturer of electrical equipment. It offers its products through business segments such as  Digital Systems & Services, Green Energy & Mobility, Connective Industries, and Others. In the green energy & mobility segments, the company provides intelligent transportation systems solutions. In 2021, the company acquired Thales's ground transportation systems business segment. Hitachi Rail Ltd. focuses on developing technologies and products to enhance sustainable connectivity. The company also offers Rolling Stock Solutions, Operation, Service & Maintenance, Digital Signaling & Systems, Turnkey Rail Solutions, and Rail Components. Hitachi Ltd. adopted organic and inorganic strategies to increase its revenue.

Cubic Corporation (US)

Cubic Corporation provides critical solutions for the transportation and defense sectors. In 2021, the private equity firm Veritascapital and Elliott Investment Management acquired Cubic Corporation, which resulted in the company's privatization. Among the company's businesses, Cubic Transportation Systems (CTS)is the major integrator of payment and information solutions for intelligent travel applications. The company specializes in providing transportation and traffic management systems, offering tools that enable travelers to make informed and efficient travel choices.

Conduent Incorporated (US)

Conduent was separated from Xerox Corporation in January 2017 and is now operating as Conduent, Incorporated. The company offers its products through three business segments: commercial industries, government services, and transportation. Through the commercial sector, the company delivers business process services and tailored solutions in various industries to reduce costs and enhance efficiency. The government segment provides government-centric business process services-for instance, providing support to US federal, state, local, and foreign governments, covering public assistance, health services, program administration, transaction processing, and payment services.

Related Reports:

Intelligent Transportation System Market by Offerings (Interface Board, Sensor, Camera, Monitoring & Detection), Mode (Roadways, Railways, Airways, Maritime) System (Advanced Traffic Management, ITS-enabled Transportation) - Global Forecast to 2029

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