The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The increasing number of vehicles on the road is likely to stimulate innovation in the production of intelligent transportation systems, boosting the market over the forecast period.

The global intelligent transport system market is expected to grow from $29.58 billion in 2022 to $33.18 billion in 2023 at a compound annual growth rate (CAGR) of 12.2%. The global intelligent transport system market size is expected to reach $50.23 billion in 2027 at a CAGR of 10.9%.

Get A Free Sample On The Global Intelligent Transport System Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=10213&type=smp

Global Intelligent Transport System Market Segments Include:

• By Component: Hardware, Software, Services
• By System: Advanced Traffic Management Systems (ATMS), Advanced Traveler Information Systems (ATIS), Advanced Transportation Pricing Systems (ATPS), Advanced Public Transportation Systems (APTS), Emergency Medical Systems (EMS)
• By Mode of Transport: Roadways, Railways, Airways
• By Application: Intelligent Traffic Control, Collision Avoidance, Parking Management, Ticketing Management, Automotive Telematics, Fleet Management And Asset Monitoring, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global intelligent transport system market in 2021.

Major Market Players in the intelligent transport system market include Thales, Siemens, Garmin Ltd., Kapsch TrafficCom AG, Tomtom International BV, Denso Corporation, Efkon GmbH, Ricardo, Lanner, Q-Free ASA, TransCore, Atkins Group.

Technological improvements are a major trend that is gaining traction in the intelligent transportation systems market. Companies in the intelligent transportation systems industry are embracing new technologies in order to maintain their market position. For example, in November 2021, the City of Vienna and Kapsch TrafficCom, an Austrian provider of transport solutions for sustainable mobility, will introduce Traffic Management 2.0 for smart transport management and traffic management. The Traffic Management 2.0 system aids in the improvement of traffic conditions and, as a result, the CO2 balance, saving up to 15% of emissions and thereby improving air quality.

The Intelligent Transport System Global Market Report 2023  provides a intelligent transport system market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The intelligent transport system market forecast analyzes intelligent transport system market size, intelligent transport system market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Intelligent Transportation Systems (ITS) are a collection of modern technologies and communication systems that work together to improve the efficiency, safety, and sustainability of transportation networks. It aims to improve transportation efficiency and reduce congestion by providing users with access to historical traffic statistics, local conveniences, real-time running information, and seat availability.

Explore Similar Reports From The Business Research Company:
Transport Global Market Report 2023

Intelligent Virtual Assistant Global Market Report 2023

Transportation Management Systems Global Market Report 2023

Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: