Intelligent Transportation System Market worth USD 52.78 billion by 2030, propelled by Growing Demand for Mobility-as-a-Service

the adoption of Intelligent Transportation Systems as part of their efforts to modernize transportation infrastructure and address pressing environmental concerns

The Intelligent Transportation System Market size was valued at USD 28.1 billion in 2022 and is expected to grow to USD 52.78 billion by 2030 and grow at a CAGR of 8.2 % over the forecast period of 2023-2030.

The Intelligent Transportation System (ITS) market is poised for exponential growth, fueled by a combination of technological advancements, urbanization, and the increasing need for efficient transportation solutions. With cities becoming more congested and the demand for sustainable transportation options rising, ITS emerges as a key enabler in transforming how people and goods move within urban environments.

From smart traffic management systems to connected vehicles and advanced analytics, the ITS market offers a spectrum of solutions designed to enhance safety, reduce congestion, and optimize transportation networks.

One of the driving forces behind the expansion of the ITS market is the rapid evolution of communication and sensor technologies. With the proliferation of IoT devices and the advent of 5G networks, the ability to collect and analyze real-time data from vehicles, infrastructure, and passengers has reached unprecedented levels.

This influx of data serves as the foundation for intelligent transportation solutions, empowering authorities and transportation agencies to make data-driven decisions that improve efficiency and enhance the overall transportation experience..

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The report highlights several significant features of the global Intelligent Transportation System market encompassing competitive landscape, segmentation analysis, and industry environment. It shows the scope of the market and a brief overview of the definition and description of the product or service.

The potential factors that can bring the market to the upward direction have been mentioned in the report. With this report, companies, as well as individuals interested in this report, will get proven valuable guidelines and direction so that they consolidate their position in the market.

The major players and the new entrants have been incorporating strategic merger and acquisition activities amongst each other to testify the factors responsible for changing dynamics. These changing dynamics implore the players to keep up with rising demands or present restrains so as to drive the broad scope of the global Intelligent Transportation System Market.

Major companies profiled in the market report include

Kapsch TrafficCom, Agero, Inc., Iteris Inc., DENSO CORPORATION, EFKON GmbH, Garmin Ltd., Thales Group, Xerox Corporation, Recardo, Sensys Networks Inc., Telenav Inc., Lanner, Hitachi Ltd., Nuance Communications, Inc., Q-Free ASA, Siemens AG, TomTom International BV, TransCore., and others.

Research objectives:

The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing.

The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the Intelligent Transportation System market.

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It has segmented the global Intelligent Transportation System market

By Type

• Advanced Traveler Information System (ATIS)
• Advanced Traffic Management System (ATMS)
• Advanced Transportation Pricing System (ATPS)
• Advanced Public Transportation System (APTS)
• Emergency Medical System (EMS)

By Application

• Traffic Management
• Road Safety and Security
• Freight Management
• Public Transport
• Environment Protection
• Automotive Telematics
• Parking Management
• Road Tolling Systems

 Major Key Features Covered in Global Intelligent Transportation System Market Report:

• To gain insightful analyses of the market and have a comprehensive understanding of Global Intelligent Transportation System and its commercial landscape.
• Assess the Intelligent Transportation System production processes, major issues, and solutions to mitigate the development risk.
• To understand the most affecting driving and restraining forces in Intelligent Transportation System and their impact on the global market.
• Learn about the market strategies that are being adopted by leading respective organizations.
• To understand the outlook and prospects for Intelligent Transportation System Market.

Reasons for buying this report:

• It offers an analysis of changing competitive scenarios.
• For making informed decisions in the businesses, it offers analytical data with strategic planning methodologies.
• It offers a six-year assessment of Intelligent Transportation System Market.
• It helps in understanding the major key product segments.
• Researchers throw light on the dynamics of the market such as drivers, restraints, trends, and opportunities.
• It offers a regional analysis of Intelligent Transportation System Market along with the business profiles of several stakeholders.
• It offers massive data about trending factors that will influence the progress of the Intelligent Transportation System Market