Trending News: Intelligent Transportation System Market — Global Industry Analysis and Forecast 2020 to 2027

  • According to the new market research report Intelligent Transportation System Market by Type (Advanced Traveller Information Systems (ATIS), Advanced Traffic Management System (ATMS), Advanced Transportation Pricing Systems (ATPS) and Advanced Public Transportation System (APTS)), by Offering (Hardware, Software and Services), by Application (Freight Management, Public Transport, Parking Management, Traffic Management, Road Safety and Security, Road Tolling Systems, Environment Protection and Automotive Telematics), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) — Global Forecast (2020 to 2027)”, the global Intelligent Transportation System Market is estimated to reach USD 48.7 Billion by 2027 at a CAGR of around 15% during the review period.
  • The ITS is combinations of leading edge information and communication technologies which is being used in transportation and traffic management system to enhance the efficiency, safety and sustainability of transportation network.
  • Moreover, the intelligent transportation system is majorly deployed in various applications such as in parking availability system, collision avoidance system, and traffic enforcement camera. These will lead to increase the demand of the market in the forecast period.
  • With the rising traffic jam is witness to boost the growth of the market in the forecast period. Whereas, the deployment of the intelligent transportation system will help to offers a real-time data which is used to improve the traffic jam problem.
  • One of the major key concern of the intelligent transportation system market is high costs of installation which may restraining factor for the growth of the market.
  • Growing adoption of Internet of things (IoT), is rapidly transforming the way transportation systems such as designed, planned, and operated. Hence, these may lead to boost the demand of the market.
  • The ongoing covid-19 pandemic also create a major challenge for the market growth as the manufacturing sector are majorly hampered with the lockdown as well as with the shortage of labor and raw material availability. This is projected to delay in ongoing transport project in various extent.
  • North America:
  • Asia-Pacific:
  • Cubic Corporation:
  • Kapsch TrafficCom:

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DataBridge Market Research

DataBridge Market Research

Data Bridge set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approach

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