Top Intelligent Transportation System (ITS) Companies- Industry Analysis 2024

As our world continues to evolve, so does the need for smarter, more efficient transportation systems. The innovative companies leading this transformation are leveraging state-of-the-art technology to redefine the way we move.

The Intelligent Transportation System (ITS) industry is growing at an impressive pace, marked by the numerous advancements in technology and the increasing demand for smarter, more efficient transportation networks. In this article, we take a closer look at the key players leading this industry's growth, their strategies, and their contributions to this burgeoning market.

Intelligent Transportation System (ITS) Market Overview

The ITS market is projected to grow from an estimated USD 47.8 billion in 2023 to USD 67.2 billion by 2028, marking a Compound Annual Growth Rate (CAGR) of 7.1% from 2023 to 2028. This growth can be attributed to the rapid development of smart cities globally and the escalating demand for security and surveillance in railway systems.

Top Intelligent Transportation System (ITS) Companies- Key Industry Players

There are several players in the ITS market, including Siemens AG (Germany), Hitachi Ltd. (Japan), Conduent Incorporated (US), Cubic Corporation (US), Kapsch TrafficCom AG (Austria), Teledyne Technologies Incorporated (US), DENSO Corporation (Japan), Indra Sistemas, S.A. (Spain), Garmin Ltd. (US), and TomTom International BV (Netherlands).

These Intelligent Transportation System (ITS) companies have adopted various strategies, such as contracts, collaborations, agreements, product launches, acquisitions, expansions, and partnerships, to expand their global presence and increase their market shares.

1. Siemens AG

Siemens AG is a key provider of ITS solutions. The company's large order backlog provides it with revenue visibility. It offers products and solutions to a wide range of industries. Siemens AG invests a substantial part of its resources in Research & Development (R&D), which helps it keep up with industry changes, offers it a "first mover" advantage, and allows it to deliver advanced products and services to its customers.

2.  Hitachi, Ltd.

Hitachi, Ltd. is a global leader in manufacturing and distributing electrical equipment. It is an established brand with a strong presence in all major regional markets. The company operates mainly through its subsidiaries such as Hitachi Vantara; Hitachi High-Tech Europe GmbH; Hitachi High-Tech Korea Co., Ltd.; Hitachi High-Tech (Shanghai) Co., Ltd.; and Hitachi High-Tech America, Inc.

3. Cubic Corporation

Cubic Corporation is a technology-driven, market-leading global provider of innovative and mission-critical solutions for the transportation and defense sectors. It is one of the leading integrators of payment and information solutions and related services for intelligent travel applications. Cubic Corporation is continuously expanding its presence by signing new contracts, opening new subsidiaries and business units, and acquiring other companies.

4.  Conduent Incorporated

Conduent Incorporated provides systems and support to transportation departments and agencies globally through its Transportation segment The ITS solutions offered by the company help in reducing traffic congestion and improving overall mobility. The company's back-office systems enable account owners to interact with customers through different communication channels, such as voice, email, text, or chatbot.

5. Kapsch TrafficCom AG

Kapsch TrafficCom AG is a leading provider of transportation solutions for sustainable mobility. The company offers innovative solutions, superior technologies, and services for tolling and transportation management applications. Kapsch TrafficCom AG is continuously expanding its operational footprint by signing new contracts, opening new subsidiaries and business units, and acquiring other companies.

6. Teledyne Technologies Incorporated

Teledyne Technologies Incorporated is a leading provider of sophisticated electronic subsystems, instrumentation, aerospace and defense electronics, and digital imaging products and software. Its products include infrared detectors, digital cameras, sensors, and systems; scientific research telescopes and related instruments; and software.

7. DENSO Corporation

DENSO Corporation is a leading supplier of advanced automotive technology, systems, and components for major automakers. The company is committed to making the world a better place through its world-first and world-leading products.

8. Indra Sistemas, S.A.

Indra Sistemas, S.A. is a leading global consulting and technology company and the technological partner for core business operations of its customers. Its solutions and services are focused on the transport and defense markets.

9. Garmin Ltd.

Garmin Ltd. is a leading provider of navigation, communication and information devices, and applications. Most of its products incorporate GPS technology.

10. TomTom International BV

TomTom International BV is a leading provider of navigation and location-based products and services. It offers maps, traffic information, and navigation software.

11. Foretellix: Championing Safety in Automated Driving Systems

Founded in 2018, Foretellix is an Israel-based company specializing in safety-driven verification and validation solutions for Automated Driving Systems and Advanced Driver-Assistance Systems (ADAS). Their groundbreaking platform aids automotive, trucking, and mining sectors in ensuring safety, reducing development costs, and accelerating product development.

12. FreeWire Technologies: Powering the Future

FreeWire Technologies, established in 2014 in the USA, focuses on building future-proof power solutions that overcome the limitations of existing infrastructure. Their infrastructure-light EV charging solutions provide rapid, cost-efficient power - wherever it's needed.

13. Skydio: Pioneering Autonomous Flight

As the world leader in autonomous flight, Skydio is paving the way for the future of drones and aerial transportation. Founded in 2014 in the USA, Skydio's team combines deep expertise in artificial intelligence with best-in-class hardware.

14. Cubic Telecom: Global Connectivity at its Best

Ireland-based Cubic Telecom, founded in 2009, is a global connectivity platform offering solutions for leading Internet of Things (IoT), machine-to-machine (M2M), and device manufacturing companies across the globe.

15. INRIX: Tackling Tough Urban Challenges

INRIX helps its customers address difficult urban issues like managing and planning transit systems for massive population growth; developing and introducing exciting new technologies like autonomous cars; and incorporating new models of transport. Established in 2005 in the USA, INRIX is a leading provider of traffic information, connected car services, and transportation analytics.

16. Thales: Accelerating Digital Transformation

Established in 1918, Thales has a rich history and is a listed company based out of France. Thales Digital Factory accelerates the digital transformation of Thales and its customers, focusing on developing MVPs and the Thales Digital Platform, running startup accelerators, and disseminating the digital culture.

17. Commsignia: Revolutionizing Vehicle Communication

Commsignia, a USA-based company founded in 2012, specializes in the research, development, manufacturing, and distribution of Cooperative Intelligent Transportation Systems (C-ITS). They are pioneers in Vehicle-To-Vehicle (V2V) and Vehicle-To-Infrastructure (V2I) communication technologies.

18. Hydrogenious Technologies: Safe and Reliable Hydrogen Storage

Based in Germany, Hydrogenious Technologies was founded in 2013. Their LOHC technology offers a solution for the so-far unresolved challenge of safe and reliable storage of hydrogen, often considered the energy carrier of the future.

19. SafeRide Health: Rethinking Non-Emergency Medical Transportation

SafeRide Health, established in 2016 in the USA, takes non-emergency medical transportation (NEMT) further with leading technology. Their tech-first, member-centric approach ensures patients get to the right care at the right time.

20. Flyability: Innovating Confined Space Inspection Drones

Switzerland-based Flyability, founded in 2014, pioneered confined space inspection drones. Their technology allows inspectors to collect data remotely inside dangerous confined spaces instead of in person.

21. Atos: Leading the Digital Revolution

A leader in digital services, Atos SE (Societas Europaea) has a pro forma annual revenue of approximately EUR 12 billion and employs 100,000 people in 72 countries. Established in 1997 in France, Atos provides Consulting & Systems Integration services.

22. Wakeo: Bringing Real-Time Visibility to Shipping Flows

French company Wakeo provides real-time visibility on shipping flows (sea, air, road) in one consolidated platform. Founded in 2016, Wakeo is at the heart of global trade, bringing transparency and a new user experience to a sector where new technologies will provide significant advancements.