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Market Size – USD 15.50 billion in 2019, Market Growth - CAGR of 15.2%, Market trends – Product launches and research for advanced ITS.

Increasing traffic and growing population in urban areas, and the rise in the adoption of smart cities are key factors contributing to the high growth of the Intelligent Transportation System.” — Emergen Research

VANCOUVER, BC, CANADA, August 16, 2022 /EINPresswire.com / -- The global Intelligent Transportation System (ITS) Market is expected to reach USD 48.17 Billion by 2027, according to a new report by Emergen Research. The increasing number of on-road vehicles and inefficient existing transport infrastructure will encourage the need for an intelligent transportation system. Actions by the government towards establishing a more reliable infrastructure and running the transport system easily are anticipated to grow the market globally. Also, intelligent transportation systems can render more reliable safety and security by combining intelligent communication systems in the infrastructure, thus boosting the market growth. Increased income levels have increased the demand for mobility of people and increased road congestions in major cities around the world, which has fostered the demand for advanced transportation systems.

The Intelligent Transportation System market report focuses on the economic developments and consumer spending trends across different countries for the forecast period 2020 to 2027. The research further reveals which countries and regions will have a better standing in the years to come. Apart from this, the study talks about the growth rate, market share as well as the recent developments in the Intelligent Transportation System industry worldwide. Besides, the special mention of major market players adds importance to the overall market study.

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Some Key Highlights from the Report
Roadways are considered the fastest-growing segment in the intelligent transport system market. The rise in the number of commercial and manufacturing activities will encourage market players to deploy proper asset management and monitoring systems.

The advanced traffic management system held the largest market share in the ITS market. This is due to the growing traffic congestion on roads and an increase in the affordability of vehicles. The availability of favorable deals by the automotive manufacturers and changing lifestyle will lead to traffic congestion. This is expected to foster the segment's demand.

The growth in demand for driving assistance and the automatic driving system will support the demand for automotive telematics. Moreover, factors such as the need to reduce traffic on roads and an increase in government funding will propel the demand.

North America dominated the market for the intelligent transportation system. The region has the ability to manage traffic and public transportation. The United States is witnessing massive growth in air traffic. The government is imposing strict laws and registrations, which will create a demand for the market product.

The subject matter experts conducting the study offer a deep understanding of how prominent leaders have managed to navigate the potential buyers and competitive dynamics influencing their brand positioning in the industry The Intelligent Transportation System market analysis provides everything a business owner needs in order to succeed.

Major Players/Manufacturers profiled in the report are:

Thales Group, Garmin, Siemens, Tomtom International BV, Flir Systems, Inc., Q-Free, Cisco Systems, Efkon GMBH, Indra Sistemas, S.A., and Denso Corporation, among others.

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For better understanding, the report further divides the market into key segments such as product types and application spectrum. The report also offers estimates about the segment and sub-segment expected to grow at a rapid pace and the key factors expected to drive revenue growth of the segments during the forecast timeline of 2021-2028.

For the purpose of this report, Emergen Research has segmented into the global Intelligent Transportation System (ITS) Market on the basis of mode of transport, system, application, and region:

Mode of Transport Outlook (Revenue, USD Billion; 2017-2027)
Roadways

Airways

Railways

Systems Outlook (Revenue, USD Billion; 2017-2027)

Advanced Traveler Information System

Advanced Public Transportation System

Advanced Traffic Management System

ITS-Enabled Transportation Pricing System

Commercial Vehicle Operation

Application Outlook (Revenue, USD Billion; 2017-2027)

Intelligent Traffic Control

Parking Management

Fleet Management and Asset Monitoring

Collision Avoidance

Passenger Information Management

Emergency Vehicle Notification

Ticketing Management

Automotive Telematics

Regional Segmentation;

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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The report offers insightful information about the market dynamics of the Intelligent Transportation System market. It offers SWOT analysis, PESTEL analysis, and Porter's Five Forces analysis to present a better understanding of the Intelligent Transportation System market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Intelligent Transportation System market.

Key Benefits of the Report:

Comprehensive analysis of the competitive scenario and its changing dynamics

Analytical data with detailed SWOT analysis and Porter's Five Forces analysis

In-depth 8 year analysis of the Global Intelligent Transportation System Market

Critical assessment of the key market segments

Comprehensive analysis of the drivers, restraints, trends, and opportunities

Detailed regional analysis and extensive company profiling

Extensive assessment of current and emerging trends of the market

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Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs. Emergen Research also offers a country-wise customized report as per clients' needs. 

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Emergen Research
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Intelligent Transportation System Market Size Worth USD 48.17 Billion by 2027

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