Summary:
A New Study Title “ Intelligent Transportation System Market Size, Status And Forecast 2027” Has Been Featured On Market Research Future.

Market Overview

Market Research Future (MRFR) reveals multiple causes that are likely to support the Intelligent Transportation System Market 2021 in the years to come. The expansion of intelligent transportation system market is likely at 9.31% CAGR in the analysis period 2021 to 2030. By 2030, the intelligent transportation system market is expected to garner USD 42.67 Bn. A comprehensive analysis for intelligent transportation system market dynamics in COVID 19 is elaborated in the report. The gradual adoption of intelligent transportation system across the information and communications technology sector can prompt the expansion of the Intelligent Transportation System (ITS) Market in the years to come. The rise in number of cars and other types of transportation has triggered the need for advanced commute solutions. The increase in the need for effective traffic management by increasing value of time can contribute to the ITS market rise. The introduction of intelligent transportation system solution for e-commerce can promote the market in years to come.

Intelligent Transportation System Market – Segments

The segment assessment of the Global Intelligent Transportation System Market is done by component, products, and application.
The Product based segments of the global intelligent transportation system market are Advanced Public Transportation Systems (APTS) and Advanced Transportation Management Systems (ATMS).

The Application based segments of the intelligent transportation system market are Traffic Management and Collision Avoidance System, and Automotive Telematics.

The Component based segments are Software, Sensor, Surveillance Camera, Monitoring, and Interface Board.

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Intelligent Transportation System Market - Regional Analysis
Trends of the intelligent transportation system market is studied across North America, South America, EU, Asia Pacific, and the ROW. North America intelligent transport system market is expected to secure the largest share in the years to come. The intelligent transportation system market in EU is expected to thrive at 12.83% CAGR in the review period. In Asia Pacific, the intelligent transportation system market value can escalate from USD 5.65 billion to USD 12.10 billion from 2016 to 2022. The market in ROW is anticipated to rise at 8.67% CAGR in forecast period.
The regions that are developing economically have high demand for ITS systems. The increased adoption of intelligent transportation systems in these regions can contribute significantly to the rise of the market in these regions. The high importance of ITS systems across booming sectors in different regions can impact the rise of the market in these regions. In APAC, the need to effectively manage traffic congestions can impel the expansion of the intelligent market in the years ahead. The rise in focus on road safety and challenges in urban planning are supporting the adoption of intelligent transportation, especially in densely populated regions of APAC. This can support the expansion of the intelligent transport market in the years ahead. The growing dynamics of commute industry across organized sector can support the expansion of the intelligent transport system market in the years ahead. In Europe, followed by North America, the ITS market are observed to gain high profits in the years ahead. The increased awareness about benefits of ITS can support the regional expansion of the market in approaching years.
Key Players
The key players of Intelligent Transportation System are Roper Industries, Inc. (U.S), Hitachi Ltd. (Japan), Siemens AG (Germany), Thales S.A. (France), Xerox Corporation (U.S.), BRISA (Portugal), Kapsch AG (Austria) ¸Q-Free ASA (Norway), Efkon AG (Austria), Lanner Electronics Inc. (Taiwan). Some of the other key players are Denso Corporation (Japan), TomTom International BV (Netherlands), Savari Inc. (U.S.), Nuance Communications Inc. (U.S), Garmin Ltd. (Switzerland) and others.
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