North America Intelligent Transportation System Market Size & Outlook
North America intelligent transportation system market, 2018-2030 (US$M)
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North America intelligent transportation system market highlights
- The North America intelligent transportation system market generated a revenue of USD 18,187.5 million in 2023.
- The market is expected to grow at a CAGR of 7.4% from 2024 to 2030.
- In terms of segment, roadway was the largest revenue generating transportation mode in 2023.
- Airway is the most lucrative transportation mode segment registering the fastest growth during the forecast period.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 18,187.5 million |
| Market revenue in 2030 | USD 30,075.7 million |
| Growth rate | 7.4% (CAGR from 2023 to 2030) |
| Largest segment | Roadway |
| Fastest growing segment | Airway |
| 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, North America region accounted for 35.9% 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.
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Intelligent Transportation System Market Scope
Intelligent Transportation System Market Companies
| Name | Profile | # Employees | HQ | Website |
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North 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 46.91% in 2023. Horizon Databook has segmented the North America intelligent transportation system market based on roadway, railway, airway, maritime covering the revenue growth of each sub-segment from 2018 to 2030.
The demand for intelligent transportation solutions is growing significantly in the North American region owing to a growing emphasis of the governments on improving the transportation infrastructure to tackle the rising challenges of congested highways, poor air quality, and growing highway accidents and fatalities.
For instance, in June 2022, the Federal Railroad Administration unveiled a grant program called Consolidated Rail Infrastructure and Safety Improvements, worth USD 368 million. The program aimed to finance 46 projects across 32 states and the District of Columbia.
These investments are aimed at modernizing the rail infrastructure and bolstering supply chains of Columbia. Additionally, the initiative is anticipated to alleviate congestion and establish cost-effective transit options within the region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America intelligent transportation system market , including forecasts for subscribers. This continent databook contains high-level insights into North America intelligent transportation system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America intelligent transportation system market size, by country, 2018-2030 (US$M)
North America Intelligent Transportation System Market Outlook Share, 2023 & 2030 (US$M)
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