Latin America Intelligent Transportation System Market Size & Outlook
Latin America intelligent transportation system market, 2018-2030 (US$M)
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Latin America intelligent transportation system market highlights
- The Latin America intelligent transportation system market generated a revenue of USD 3,209.1 million in 2023.
- The market is expected to grow at a CAGR of 8.6% from 2024 to 2030.
- In terms of segment, roadway was the largest revenue generating transportation mode in 2023.
- Maritime is the most lucrative transportation mode segment registering the fastest growth during the forecast period.
- Country-wise, Colombia is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 3,209.1 million |
| Market revenue in 2030 | USD 5,722.0 million |
| Growth rate | 8.6% (CAGR from 2023 to 2030) |
| Largest segment | Roadway |
| Fastest growing segment | Maritime |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Roadway, Railway, Airway, Maritime |
| Key market players worldwide | Advantech, Iridium Communications Inc, Alstom SA, Cubic Corporation, Hitachi Ltd, Indra Sistemas SA ADR, Iteris Inc, Kapsch Group, Kongsberg Gruppen ASA, L3Harris Technologies Inc, Brunswick Corp, NEC Corp, Siemens AG, Spire Global Inc Ordinary Shares - Class A, Teledyne Technologies Inc, Thales, Transcore, Wabtec |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.3% of the global intelligent transportation system market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 24,009.0 million by 2030.
Key Regions: U.S. , UK , Mexico , Argentina , Colombia
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Intelligent Transportation System Market Scope
Intelligent Transportation System Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America intelligent transportation system market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to intelligent transportation system market will help companies and investors design strategic landscapes.
Roadway was the largest segment with a revenue share of 43.9% in 2023. Horizon Databook has segmented the Latin America intelligent transportation system market based on roadway, railway, airway, maritime covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America is among the most urbanized areas in the world, where 81% of its population lives in cities. Increasing urban populations, the absence of extensive subway systems, and rising pollution levels have significantly affected the country’s standard of living.
Cities such as Bogota, Mexico City, Lima, Santiago de Chile, and Rio de Janeiro are among the 50 most congested cities across the globe. Thus, government, public, and private players across the region are now taking strong and committed initiatives toward the electrification of public transport.
For instance, in November 2022, Enel X, operating in the areas of energy management and energy supply services, revealed that it received contracts to deliver smart charging, financing, infrastructure, and energy services to more than 2,900 electric buses in Latin America.
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Our clientele includes a mix of intelligent transportation system market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America intelligent transportation system market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America intelligent transportation system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America intelligent transportation system market size, by country, 2018-2030 (US$M)
Latin America Intelligent Transportation System Market Outlook Share, 2023 & 2030 (US$M)
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