(MENAFN- Introspective Market Research) Intelligent Transportation Systems (ITS) Market size is projected to reach USD 49.5 Billion by 2027 from an estimated USD 23.45 Billion in 2020, growing at a CAGR of 11.3% globally.
Intelligent transportation system (ITS) is the application of sensing, analysis, control and communications technologies to ground transportation in order to improve safety, mobility and efficiency. ITS includes a wide range of operations that process and share information to ease traffic, ameliorate business operation, minimize environmental impact and increase the benefits of transportation to marketable druggies and the public in general. The Intelligent Transportation System delivers real-time information like travel time, travel speed, delay, accidents on roads, change in route, diversions, work zone conditions etc.
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The latest research report published by Introspective Market Research Reports on Intelligent transportation system (ITS) Market is intended to provide you with reliable data on various key factors shaping the growth curve of the market. The report serves as a rich source of information for key institutions such as policy makers, end-use industries, investors, and opinion leaders. The goal is to obtain premium insights, quality data statistics and information on aspects such as market scope, market size, share, service and product types, application/end-use segments, SWOT analysis, and segments such as different geography evolving.
Key Prominent Players In The Intelligent Transportation System Market:
Kapsch TrafficCom AG, Transcore Inc, Q-Free ASA, Denso Corporation, Efcon AG, Thales Group, Siemens AG, Savari Inc, Iteris Inc and Lanner Electronics.
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Market segmentation
The Intelligent Transportation System Market Segment by Types, Estimates, and Forecast by 2027
Intelligent Transportation System Market Segment by Types, Estimates, and Forecast by 2027
Advanced Traffic Management System (ATMS), Advanced Traveler Information System (ATIS), ITS-Enable Transportation Pricing System, Advanced Public Transportation System (APTS), Commercial Vehicle Operation (CVO)
Intelligent Transportation System Market Segment by Applications, Estimates, and Forecast by 2027
Fleet Management and Asset Monitoring System, Collision Avoidance System, Traffic management, Parking Management System, Ticketing Management System, Emergency Vehicle Notification System, Road safety and security
Regional Analysis for COVID-19 Outbreak-Global Intelligent Transportation System Market:
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)
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The growing demand for traffic control results, the rising demand for smart vehicles integrated with the rearmost telecommunications technology, and the bettered safety and surveillance offered by ultramodern cameras and License Plate Recognitions (LPRs) are anticipated to drive the growth of the market. The growing number of vehicles on road, growing structure, and a brewing lack of business data operation are some of the other factors that are anticipated to contribute to the growth of the market. The prestigious need to efficiently manage the business inflow across megacity corridors and roadways has started the need for an indispensable business operation technology.
Intelligent Transportation System Report provides insights into the following queries:
1. Market growth rate and growth momentum of Intelligent Transportation System market for the period 2021-2027
2. The estimated size of the Intelligent Transportation System market for the period 2021-2027
3. Sales (volume), revenue, and value analysis by regions of Intelligent Transportation System market
4. The associated market risk, opportunity, and market overview of the Intelligent Transportation System Market
5. Major distributors, dealers, end-users, and traders of the Intelligent Transportation System Market?
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However, the outbreak of the COVID-19 pandemic has taken a severe toll on new intelligent transportation system (ITS) sales and installations. Several major system manufacturers have suspended their operations temporarily due to dislocations in the force chain and the deficit of factors. Nonetheless, the being ITS results installed across the globe are being used aggressively. On the other hand, the on-going transportation systems are getting delayed owing to the deficit of force.
Key Benefits of Intelligent transportation system Market:
1. Key players and their key developments in the recent years are listed.
2. Comprehensive analysis of factors that drive and restrict the market growth is provided.
3. The report includes an in-depth analysis of current research and clinical developments within the market.
4. In-depth analysis of the Intelligent transportation system Market
5. Major countries in each region are mapped according to individual market revenue.
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