Mar 15, 2023 (The Expresswire) -- The growing demand for traffic control solutions, smart vehicles, the improved safety and surveillance offered by modern cameras, License Plate Recognition (LPRs), and the rapid development of smart cities, among others, are contributing to the growth of the intelligent transportation system (ITS) industry. Which is the key factor driving the market? online dashboard trial. The COVID-19 pandemic has hampered the implementation projects and new ITS sales & installations in 2020. "The quality of research they have done for us has been excellent.". We never share your personal data. We are GDPR and CCPA compliant! The global Intelligent Transportation System (ITS) market was worth $41.2 Bn in 2020 and Is Expected To Reach $74.1 Billion by 2028, with a CAGR of 9.3%. The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. Technological innovation and advancement will further optimize the performance of the product, making it more widely used in downstream end users. Key Topics Covered: I. METHODOLOGYII. All rights reserved. Intelligent Transportation Systems (Its) Market analysis can also involve forecasting future market trends and conditions, based on factors like technological change, regulatory developments, or demographic shifts. Dynamic displays and navigation systems can help operate road networks flexibly and reduce travel time. Intelligent Transportation Systems (Its) Industry leading players are the ones that have the biggest impact, the most market shares 2023, the best reputation, or the highest revenue within their field they are. Kapsch TrafficCom AG and Axxes SAS formed a joint venture for designing, planning, and implementing an electronic toll collection service. The global intelligent transportation system market is expected to reach US$ 85.52 Bn by the end of 2031. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Report scope can be customized per your requirements. Besides this, the report offers insights into the current market trends and highlights key industry developments. Asia-Pacific region currently dominates the global market, and is expected to have the significant contribution in this market over the forecast period. Please find the key player list in Summary. The technology comprises of traffic signal controls, electronic fare payment and constantly updated traveler data in conjunction with multimodal scheduling data. This is a very good piece of work and will be very helpful to us going forward. It focuses on key aspects such as leading companies, product types, and leading applications of the product. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 9.7% over the forecast period. Intelligent Transportation System Market Overview: The Global Information Transport Systems market revenue is projected to grow at a CAGR of 9.31% during the forecast period 2022-2030 and reach USD 49 billion by 2030. These systems provide monetary benefits to vehicle owners by reducing overall fuel consumption and also help in avoiding congested routes and thus reducing travel time. The countries implementing ITS are likely to have a better future as the world enters the era of connected and autonomous cars. We need to stop this now. First Republic support is spreading financial contagion, says Ackman. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive, Please pass on our sincere thanks to the whole team at Fortune Business Insights. Market Analysis and Insights : Global Intelligent Transport System Market. Implementing an intelligent transportation system leads to ultimate benefits such as powerful and wide-ranging mobility, safety, and the environment. Due to this, several automobile manufacturers in developing and developed economies are aggressively integrating these systems into their upcoming models. Research and Markets The increasing demand for advanced technology and the continued expansion of transportation networks are expected to drive the growth of the intelligent transportation system industry in the region. 2023 Intelligent Transport Systems (Its) Market Size, Growth | Global Industry Trends [2029], Im 36 with $435,000 and want to retire early the earlier the better but without a frugal lifestyle. Latin America is also projected to show good growth in the market as Brazil and Mexico support the ITS planning and deployment in the countries. Discounted price for multiple reports across domains, 2. Fortune Business Insights says that the global market size was USD 21.82 billion in 2020 and is projected to reach USD 42.80 billion by 2028. First Republic Bank gets downgrade to junk from Moodys, 3 cybersecurity threats that investors should know about. First Republic Bank gets downgrade to junk from Moodys, How women can empower themselves financially and what's in their way. Furthermore, the 125 pages report provides detailed cost analysis, supply chain. Free business intelligence platform with subscription, 4. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. Get a Sample Copy of the Report at https://www.360marketupdates.com/enquiry/request-sample/19994988, 1.1 Intelligent Transportation Systems (Its) Introduction, 3 Global Intelligent Transportation Systems (Its) Market Competition, by Manufacturer, 4 Global Intelligent Transportation Systems (Its) Market Analysis by Regions, 5 North America Intelligent Transportation Systems (Its) by Countries, 6 Europe Intelligent Transportation Systems (Its) by Countries, 7 Asia-Pacific Intelligent Transportation Systems (Its) by Countries, 8 Latin America, Middle and Africa Intelligent Transportation Systems (Its) by Countries, 9 Intelligent Transportation Systems (Its) Market Segment by Type, 10 Intelligent Transportation Systems (Its) Market Segment by Application, 11 Intelligent Transportation Systems (Its) Market Forecast (2016-2021), 12 Sales Channel, Distributors, Traders and Dealers, Purchase this Report (Price 2980 USD for a Single-User License) https://www.360marketupdates.com/purchase/19994988, Skin and Wound Care Market Size, Drivers Update and Featuring Outlook 2028, Titanium Scrap Market by Product Type and End Users-2028, PE Coated Paper Market Valuation Worldwide 2023-2028, ALIF Market Valuation Worldwide 2023-2028, Press Release Distributed by The Express Wire, To view the original version on The Express Wire visit Global Intelligent Transportation Systems (Its) Market Size Report Analysis, 2023-2029, COMTEX_426684551/2598/2023-03-15T12:48:39. 4.To analyze the Intelligent Transport Systems (Its) with respect to individual growth trends, future prospects, and their contribution to the total market. The Global Intelligent Transport Systems (Its) market is anticipated to rise at a considerable rate during the forecast period. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. DENSO CORPORATION, Siemens AG, and Hitachi Ltd. are the top companies in the market. The global intelligent transportation system market size was estimated at USD 28.25 billion in 2022 and is expected to reach USD 29.91 billion in 2023. b. Governments in many countries are collaborating with private partners to take active measures towards minimizing traffic congestion. Click here. Which is the leading segment in the global intelligent transportation system market? Japan Intelligent Transportation System Market Research & Intelligence Report Study Consists: Intelligent Transportation System Market Size, Share & Trends Analysis Report By Offering (Hardware . The increasing urbanization, rising disposable incomes, and need for advanced vehicles to ease the driving experience have propelled many transportation service providers to demand a well-connected transportation system, improved infrastructure, and improved road safety. The market, estimated at US$23.8 Billion in 2020 is projected to reach US$49.5 Billion by 2026, registering a compounded annual growth rate (CAGR) of 8.8% over the analysis period. They are also focusing on strategic partnerships and mergers & acquisitions to develop technologically advanced products and gain a competitive edge in the market. This complete system provides accurate object detection for plate recognition, vehicle speed detection, parking spot detection, truck, motorbike, and pedestrian violations. Traffic congestion is a repetitive problem across the globe, causing huge fuel consumption and impacting the quality of life. The report provides actionable insights . The Global Intelligent Transportation System Market is valued at USD 39.5 Billion in the year 2021 and is projected to reach a value of USD 68.8 Billion by the year 2028. Visit a quote page and your recently viewed tickers will be displayed here. The intelligent transport system (ITS) market size is anticipated to rise as it collects real-time data using a network of sensors, video surveillance devices, navigation systems, and vehicle probes, which is then evaluated and conveyed to the user via the internet, mobile telephony, or dynamic signboards. Market dynamics. MARKET OVERVIEW. The United States represents the largest regional market for Intelligent Transportation Systems, accounting for an estimated 39.1% share of the global total. 2.To understand the structure of Intelligent Transportation Systems (Its) Market by identifying its various sub segments. Looking forward, IMARC Group expects the market to reach US$ 63.8 Billion by 2027, exhibiting a growth rate (CAGR) of 9.4% during 2022-2027. In addition to this, the easy affordability of vehicles, and automobile manufacturers discounts on vehicles are accelerating vehicle sales which, leads to traffic congestion. Superior navigation, communications, operations monitoring and data-collecting technologies are applied to improve the mobility, security and efficiency of transportation. 7.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market. We also cooperate with some third-party databases. It also increases the efficiency of vehicles by lowering the burning of fuel from vehicles at signals. | Source: Featuring global and regional data and over top key player's profiles, this report gives the ultimate guide to exploring opportunities in the Intelligent Transport System Market. Kapsch TrafficCom and Axxes formed a joint venture company registered as MoKA SAS. Traffic management solutions providers are adopting AI. The Global Intelligent Transportation System Market is estimated to be USD 43.21 Bn in 2022 and is projected to reach USD 61.2 Bn by 2027, growing at a CAGR of 7.21%. Government Investments in Advanced Traffic Management Solutions to Fuel Market Growth. You can also contact MarketWatch Customer Service via our Customer Center. Furthermore, the 107 pages report provides detailed cost analysis, supply chain. At present, many small market companies are also great players withholding substantial intelligent transportation system market share. It also provides accurate information and cutting-edge analysis that is necessary to formulate an ideal business plan, and to define the right path for rapid growth for all involved industry players. The traffic management segment accounted for the largest market share of over 32% in 2022. 6. I plan to retire at 62. In addition, upcoming smart city projects, advanced communication networks, and government initiatives for smart development in China, India, Singapore, Dubai, and other emerging countries will create new opportunities for market growth. Global Intelligent Transportation System Market Size, Trends & Growth Opportunity and By Type, By Offering, By Protocol, By Application, By Region and Forecast to 2027 The report was very accurate and as per my requirements. Intelligent transportation system (ITS) is the application of sensing, analysis, control, and communications technologies in transportation in order to improve safety, mobility, and efficiency. We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. The Intelligent Transportation System Market is . The data offered to us was exactly what we were looking for. Complimentary 10 hours free analyst time for market review, 3. The Global Intelligent Transportation System Market is estimated to be USD 43.21 Bn in 2022 and is projected to reach USD 61.2 Bn by 2027, growing at a CAGR of 7.21%. AI has the potential to create changes in the modeling of the system. I appreciate the timeliness and responsiveness of you and your team., (applicable to 1 report only for the same license type), The global intelligent transportation system market is projected to grow from $22.91 billion in 2021 to $42.80 billion in 2028, at a CAGR of 9.34%, 2020 Fortune Business Insights . How big is the intelligent transportation system market? The growing demand for traffic control solutions, smart vehicles, the improved safety and surveillance offered by modern cameras, License Plate Recognition (LPRs), and the rapid development of smart cities . b. Increasing use of is expected to drive the growth of the Intelligent Transportation Systems (Its) Market. Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and . Moreover, the report contains major and minor features of the industry participants and emerging industries with value-chain analysis. The implementation of smart technologies and several efforts have been taken by both public and private organizations by varying measures, demonstrating the role of technology in shaping the future of the intelligent transportation system industry. Considering the influence of COVID-19 on the global Integrated Intelligent Transport System market, this report analyzed the impact from both global and . Global Intelligent Transportation Systems (ITS) Market to Reach $42.8 Billion by 2030 In the changed post COVID-19 business landscape, the global market for Intelligent Transportation Systems (ITS) estimated at US$30.3 Billion in the year 2022, is projected to reach a revised size of US$42.8 Billion by 2030, growing at a CAGR of 4.4% over the . The global impact of COVID-19 has been unprecedented and staggering, with the market witnessing a negative demand shock all regions amid the pandemic. Please find the key player list in Summary. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. the market is growing at a steady rate and with the. Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users. November 17, 2022 10:21 ET Advanced Traffic Management System (ATMS) is the leading segment in the global market in 2020. Global Intelligent Transportation System Market Highlights over 2022-2030. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. We value your investment and offer free customization with every report to fulfil your exact research needs. In that . The Intelligent Transportation Systems (ITS) market in the U.S. is estimated at US$9 Billion in the year 2022. advanced traffic management system (ATMS). Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. Contact the source provider Comtex at editorial@comtex.com. This is expected to play a vital role in driving the growth of the automotive telematics segment over the forecast period. The global intelligent transportation system market size was USD 21.82 billion in 2020 and is projected to grow from USD 22.91 billion in 2021 to USD 42.80 billion in 2028, exhibiting a CAGR of 9.34% during the forecast period. For this study, Grand View Research has segmented the global intelligent transportation system market report based on type, application, and region: Type Outlook (Revenue, USD Million, 2018 - 2030), Advanced Traveler Information System (ATIS), Advanced Traffic Management System (ATMS), Advanced Transportation Pricing System (ATPS), Advanced Public Transportation System (APTS), Application Outlook (Revenue, USD Million, 2018 - 2030), Regional Outlook (Revenue, USD Million, 2018 - 2030). The global Intelligent Transportation System market is projected to reach US$ 53.06 billion by 2032, growing at a CAGR of 7.2% The market of Intelligent Transportation System is growing due to its feature of providing ease to travellers. The increasing advancements in artificial intelligence and virtual reality show promise to enhance transportation networks across the globe. The Global IoT in Intelligent Transportation System market size is expected to gain market growth in the forecast period of 2023 to 2028, with a CAGR of XX in the forecast period of 2023 to 2028 and will be expected to reach USD XX million by 2028, from USD XX million in 2023. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 14.2% over the analysis period. Global Intelligent Transportation Systems (ITS) Market to Reach $39.5 Billion by 2026. Some key players operating in the intelligent transportation system market include Siemens AG; Kapsch TrafficCom; DENSO Corporation; Xerox Corporation; and Hitachi Ltd. b. Is there a problem with this press release? Many nations are implementing a strategic plan of intelligent transportation systems to reduce road traffic congestion and accidents through advanced safety systems by wireless communications. The advanced traveler information system (ATIS) segment is also expected to show good growth in this market over the forecast period due to the rising usage of smartphones to gain information regarding the weather and all modes of transport. ITS for public transportation services aid in streamlining transit, enable transit firms in identifying the precise location of vehicles and ensuring safety of commuters. Rising Road Traffic Congestion to Drive Market Growth. Increased demand for integrated, biometric, sensor based technology, implementation of contactless & mobile payment, ticketing technologies across public transit will impact positively the market outlook worldwide post COVID-19. We need to stop this now. First Republic support is spreading financial contagion, says Ackman. Free report customization (equivalent up to 8 analysts working days) with purchase. The advanced traffic management system (ATMS) segment is anticipated to dominate the forecast period. Also, other European countries also contributing towards development of this market. The COVID-19 pandemic has caused a further surge in financial crisis in many countries, which may act as a roadblock to market growth. They can be applied to different modes of transport like roadways, railways, airways. As the COVID-19 and the Russia-Ukraine war are profoundly affecting the global supply chain relationship and raw material price system, we have definitely taken them into consideration throughout the research, and we elaborate at full length on the impact of the pandemic and the war on the Precious Metals Industry. This is primarily occurring because of a lack of infrastructure growth compared to the growing number of vehicles on roads due to cost and space constraints. Which growth factors drives the Intelligent Transport Systems (Its) market growth? Further, in March 2021, Telenav, Inc. partnered with an automotive group SAIC, to make available navigation and location-based services for SIACs internal combustion engine (ICE) vehicles and battery-powered electric (BEV). Global Intelligent Transportation Systems market is projected to register healthy growth over the near-to-long term. The lockdown and economic crisis induced due to the COVID-19 pandemic has severely impacted the financials for many transit authorities in 2020. The markets in the Middle East & the Rest of the World regions will experience rapid growth. The industry's concern was moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. 5.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks). What was the value of the intelligent transportation system market in Asia Pacific in 2020? An effective transportation and traffic management system are critical for the socioeconomic development of any country. Should I get a financial adviser to help me. Free trial, before you make a purchase decision. Explore purchase options. The region is home to the major global market players and is equipped with several technologies for the development and implementation of the latest, advanced technologies, such as machine learning, big data, and cloud computing, to manage the increasing traffic and public transportation system. To know how our report can help streamline your business, Speak to Analyst, Advanced Traffic Management System Segment to Grow Substantially over 2021-2028. Further, the continuous demand for Vehicle-to-Infrastructure (V2I) and Vehicle-to-Vehicle (V2V) communication to streamline the vehicle flow is expected to gain traction over the next few years.

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