Press release
Intelligent Transportation System Market Expected to Reach USD 67.2 Billion by 2028, at a CAGR of 7.1%
Intelligent Transportation System Market
The global Intelligent Transportation System (ITS) Market [https://www.marketsandmarkets.com/Market-Reports/intelligent-transport-systems-its-market-764.html] is set for substantial growth, with MarketsandMarkets forecasting its value to increase from an estimated USD 47.8 billion in 2023 to USD 67.2 billion by 2028. This represents a significant Compound Annual Growth Rate (CAGR) of 7.1% during the forecast period. These insights are derived from the latest report by MarketsandMarkets, a leading market research and consulting firm.
Download PDF Brochure @
[https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=764&utm_source=ABNewswire+&utm_medium=Referral&utm_campaign=PAID-PR]
[https://www.marketsandmarkets.com/Market-Reports/intelligent-transport-systems-its-market-764.html]
Key Segments in the Market:
Type of System:
* Advanced Traffic Management System (ATMS)
* Advanced Traveler Information System (ATIS)
* Advanced Public Transportation System (APTS)
* Commercial Vehicle Operation (CVO) System
* ITS-Enabled Transportation Pricing System
Component:
* Hardware
* Software
* Services
Inquire Before Buying @
[https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=764&utm_source=ABNewswire+&utm_medium=Referral&utm_campaign=PAID-PR]
Application:
* Traffic Management
* Road Safety and Surveillance
* Public Transport
* Environment Protection
* Others
Growth Drivers:
Several factors are driving the growth of the global Intelligent Transportation System market, including:
Rapid Urbanization and Congestion Mitigation: With the increasing urban population and congestion on roadways, there is a growing need for efficient transportation systems to manage traffic flow, reduce congestion, and improve overall transportation efficiency.
Government Initiatives for Smart Cities: Governments worldwide are investing in smart city initiatives, which include the deployment of intelligent transportation systems to enhance urban mobility, reduce emissions, and improve overall quality of life for citizens.
Technological Advancements: Advancements in technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and Big Data analytics are driving innovation in ITS solutions, enabling real-time monitoring, predictive maintenance, and data-driven decision-making in transportation management.
Challenges:
Despite the positive growth outlook, the Intelligent Transportation System market faces certain challenges, including:
High Initial Investment: The deployment of ITS solutions requires significant upfront investment in infrastructure, hardware, software, and skilled personnel, which may pose a challenge for some regions and organizations with limited financial resources.
Data Privacy and Security Concerns: The collection, storage, and analysis of large volumes of transportation data raise concerns about data privacy, security, and protection against cyber threats and unauthorized access, which may hinder market growth.
View detailed Table of Content here -
https://www.marketsandmarkets.com/Market-Reports/intelligent-transport-systems-its-market-764.html
Opportunities:
The market presents several opportunities for growth, including:
Integration of Emerging Technologies: The integration of emerging technologies such as 5G connectivity, Artificial Intelligence (AI), and Machine Learning (ML) with ITS solutions presents opportunities for enhancing transportation efficiency, safety, and sustainability.
Focus on Sustainable Mobility: Increasing emphasis on sustainable transportation solutions, including electric and autonomous vehicles, presents opportunities for the development of eco-friendly ITS solutions to support green mobility initiatives.
Key Players:
Key players operating in the global Intelligent Transportation System Market include:
* Siemens AG
* Cubic Corporation
* Kapsch TrafficCom AG
* TomTom NV
* Garmin Ltd.
* Hitachi Ltd.
Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=intelligent-transportation-system-market-expected-to-reach-usd-672-billion-by-2028-at-a-cagr-of-71]
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/intelligent-transport-systems-its-market-764.html
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Intelligent Transportation System Market Expected to Reach USD 67.2 Billion by 2028, at a CAGR of 7.1% here
News-ID: 3451318 • Views: …
More Releases from ABNewswire
Total Joy Homecare Responds to Surging Demand for Senior Health Care Services in …
Total Joy Homecare expands services to meet growing Houston demand for in-home senior care, offering non-medical support that helps families maintain independence and dignity at home.
Houston's rapidly aging demographic has prompted local care provider Total Joy Homecare to expand its comprehensive support services, addressing the critical need for quality senior health care services [https://maps.app.goo.gl/hUcW1N7qWy5EdHJs5] throughout the Greater Houston area. The company's response comes as families increasingly seek reliable alternatives to…
Texas Company Introduces On-Site Carrier Repair Services to Reduce Fleet Downtim …
Texas Reefer Solutions introduces mobile carrier repair services in Dallas, revolutionizing how transportation fleets handle refrigeration breakdowns by providing on-site professional repairs, eliminating route deviations, and reducing cargo-threatening delays.
The transportation industry faces a significant challenge when refrigerated trucks require repairs, often forcing drivers to deviate from critical routes and schedules. Texas Reefer Solutions has emerged as a game-changing solution, introducing mobile carrier repair services [https://maps.app.goo.gl/P6nfg5WF7sckR7aZ8] that bring professional technicians directly…
Family Therapy in Birmingham: How the Right Therapist Can Transform Relationship …
Family therapy in Birmingham helps families improve communication, resolve conflict, and build stronger bonds. With the support of a qualified therapist near you, therapy creates a safe space to share, heal, and reconnect. Whether you're searching for therapy near me or counselling for your family, Phinity Therapy offers guidance for lasting change.
Families are the foundation of our lives. They provide love, support, and connection, but they can also be the…
Multiple Sclerosis Pipeline 2025: MOA, ROA, FDA-Approved Drugs, and Clinical Tri …
(Las Vegas, Nevada, United States) As per DelveInsight's assessment, globally, Multiple Sclerosis pipeline constitutes 75+ key companies continuously working towards developing 80+ Multiple Sclerosis treatment therapies, analysis of Clinical Trials, Therapies, Mechanism of Action, Route of Administration, and Developments analyzes DelveInsight.
The Multiple Sclerosis Pipeline report embraces in-depth commercial and clinical assessment of the pipeline products from the pre-clinical developmental phase to the marketed phase. The report also covers a detailed…
More Releases for Transport
Route Runners Auto Transport: Making Open Car Transport Easy
When it comes to shipping a vehicle, choosing the right transport method is key. For many individuals and businesses, open car transport remains the most cost-effective and efficient option. At Route Runners Car Transport Company [http://routerunnersautotransport.com/], customers can count on professional and affordable open car shipping services, backed by years of experience and a strong reputation in the auto transport industry.
Route Runners Car Transport Company is a trusted name offering…
Industry Leader CRC Transport Expands Auto Transport Services Nationwide
CRC Transport strengthens its footprint with expanded vehicle shipping and fleet logistics services, ensuring reliable transport for businesses and individuals.
Image: https://www.globalnewslines.com/uploads/2025/03/66f8b949bd58a433ce3f4cd0883e60c1.jpg
CRC Transport LLC [https://crctransport.us/], a leading provider of auto transport services [https://web.facebook.com/crctransportllc?_rdc=1&_rdr], is expanding operations across the United States to meet growing demand. The company is increasing its capacity to ensure businesses and individuals can access reliable and efficient vehicle transportation solutions.
With over a decade of industry experience, CRC Transport…
Countrywide Auto Transport Houston Launches Innovative Vehicle Transport Service …
Countrywide Auto Transport Houston has launched an innovative vehicle transport service aimed at providing fast, safe, and reliable auto shipping solutions across the U.S. This new service features advanced real-time tracking, nationwide coverage, and full insurance protection for transported vehicles, making it easier for individuals, dealerships, and businesses to ship vehicles with peace of mind.
Houston, TX - September 23, 2024 - Countrywide Auto Transport Houston [https://maps.app.goo.gl/b5yufLqmkrWr4VDp9], a trailblazer in the…
Refrigerated Transport Market Forecast Report by Mode of Transportation (Refrige …
The Refrigerated Transport Market
The global refrigerated transport market is on a trajectory of significant growth, with projections indicating an increase from $17.77 billion in 2023 to $27.07 billion by 2032. This expansion represents a compound annual growth rate (CAGR) of 4.79% from 2024 to 2032. The market's growth is primarily driven by the increasing demand for temperature-controlled logistics in supply chains to maintain the efficacy and shelf life of sensitive…
Countrywide Auto Transport Houston Introduces Innovative Vehicle Transport Solut …
Image: https://www.getnews.info/uploads/be5093d1c5731a7172fd589950dccdc0.png
Houston, TX - July 23, 2024 - Countrywide Auto Transport Houston, a leading player in the auto transport industry, is thrilled to announce the launch of its revolutionary vehicle transport services. This groundbreaking development is set to transform the way vehicles are transported across the nation, reaffirming Countrywide Auto Transport Houston's dedication to innovation and excellence in the auto transport sector.
Revving up the excitement, Countrywide Auto Transport Houston [https://maps.app.goo.gl/GYzGNcorAN4yzpeM6]…
Road Haulage Market SWOT Analysis by Key Players: Kindersly Transport, AM Cargo …
The business of transporting goods and service via roads is called road haulage. Haulage is the process of shifting goods from one place other either vertically or horizontally.
The road haulage market is expected to expand at a notable growth rate during the forecast period owing to the increase in demand for rapid, safe, and efficient ground transportation. Expansion of transportation and automotive industries has propelled the road haulage market. Increase…
