Intelligent Transportation System Market Trend Analysis, Latest Revenue Figures, Business Outlines, Growth Insights, Industry Supply, and Forecasts until 2029

Intelligent Transportation System (ITS) refers to the application of advanced technologies, such as sensors, telecommunication, and information technologies, to the transportation sector with the goal of improving safety, efficiency, and sustainability.

🔥 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 + 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐓𝐎𝐂 ➡️ https://www.reportsnreports.com/contacts/requestsample.aspx?name=1420126

🌟 𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
🟩 Siemens AG (Germany)
🟩 Hitachi, Ltd. (Japan)
🟩 Conduent Incorporated (US)
🟩 Cubic Corporation (US)
🟩 Kapsch TrafficCom AG (Austria)

The Intelligent Transportation System market is expected to grow significantly in the coming years due to increasing urbanization and the need for efficient transportation systems. Government initiatives and investment in ITS infrastructure is also expected to drive market growth.

Key segments of the ITS market include Advanced Traffic Management Systems (ATMS), Advanced Traveler Information Systems (ATIS), Advanced Public Transportation Systems (APTS), Advanced Safety Systems (ASS), and Cooperative ITS (C-ITS).

The global intelligent transportation system (ITS) market is projected to reach USD 67.2 billion by 2028 from an estimated USD 47.8 billion in 2023, at a CAGR of 7.1% from 2023 to 2028 Factors such as government efforts to ensure road and public safety, increased need to reduce traffic congestion, favorable government policies for effective traffic management, high adoption of ecofriendly automobile technology, and rapid development of smart cities globally have proved to be the major driving forces for the ITS market for roadways.

Freight arrival & transit segment is expected to lead the maritime application of the ITS market in 2028

The increasing number of freights in sea transport operations has led to complex distribution setups with an increased need for information flow, especially electronic messages among participants in distribution setups. This trend has been an initiative to shape a new intelligent transportation management system (ITS) that provides data and information more effectively to partner companies. ITS help monitor the arrival of freight, loading and unloading of goods, tracking the geographic location of freight, tracing shipment information, and others. Owing to this, the freight arrival & transit segment is expected to lead the maritime application of the ITS market in 2028.

Asia Pacific to account for the highest growth of ITS market during the forecast period

Among all regions, Asia Pacific is expected to register the highest growth in the ITS market during the forecast period. The region houses numerous ITS solution providers, such as Hitachi, Ltd.; DENSO Corporation, ST Engineering, and Lanner Electronics Inc., as well as end users. China, Japan, and South Korea mainly dominate the ITS market for the roadways segment in the region. These countries are densely populated and have a huge demand for vehicles, which leads to urban traffic congestion and an increase in CO2 emissions.

➡️ 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 @ https://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=1420126

𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞:

In this report, the ITS market has been segmented on the basis of Offering; System; By Application - Roadways, Railways, Aviation, Maritime; and Region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions-North America, Europe, APAC, and RoW. Value chain analysis has been included in the report, along with the key players and their competitive analysis in the ITS ecosystem.

𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐭𝐨 𝐛𝐮𝐲 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭:

This report includes statistics for the ITS market based on Offering, System, By Application - Roadways, Railways, Aviation, Maritime; and Region, along with their respective market sizes.
Value chain analysis and key industry trends have been provided for the market.
Major drivers, restraints, opportunities, and challenges for the ITS market have been provided in detail in this report.
This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the market. The competitive landscape section includes the competitor ecosystem and the recent development strategies adopted by the key players in the market, such as contracts, collaborations, agreements, product launches, acquisitions, expansions, and partnerships.

This release was published on openPR.