Press release
Intelligent Transportation System Market is Forecasted to Reach US$ 77.74 Billion in 2028, Says Stratview Research
Stratview Research, a global market research firm has launched a report on the global intelligent transportation system market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/2723/intelligent-transportation-system-market.html#form
Report Highlights:
Market Size in 2028: US$ 77.74 billion
Growth (CAGR): 8.37% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the Intelligent Transportation System Market:
The global intelligent transportation system market is segmented based on type, application type, mode of transport type, and region.
Based on type - "Advanced traffic management system (ATMs) segment held a significant market share of more than 30% in 2022."
The market has been classified into advanced traveler information systems (ATIs), advanced traffic management systems (ATMs), advanced transportation pricing systems (ATPs), advanced public transportation systems (APTs), and emergency medical systems (EMS). Under these, the advanced traffic management system (ATMs) segment held a significant market share & is estimated to remain the largest sub-segment during the forecast period.
The expansion can be credited to the ever-rising traffic on highways across the world. Further, overcrowding of traffic can be accredited to the easily affordable cars that are made accessible due to advantageous plans and various discounts that the auto manufacturers provide. There will be an increased use of advanced traffic management systems for handling this issue.
Based on application type - "Traffic management accounted for a market share of more than 30% in 2022."
The market has been classified into traffic management, road safety and security, freight management, public transport, environmental protection, automotive telematics, parking management, and road tolling systems. Under these, traffic management dominates the market and is expected to propel intelligent transportation system market growth at a significant rate during the review period.
Traffic management systems comprise bridge traffic management systems, vehicle detection systems, and ramp metering systems, among other systems. It improves the reliability & operational performance of road networks, thereby boosting segment growth.
To know the most attractive segments, click here:
https://www.stratviewresearch.com/2723/intelligent-transportation-system-market.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that North America held the highest market share of more than 35% in 2022 and is projected to grow at a healthy CAGR in the coming years. This growth outlook is majorly attributed to the following-
• North America is a technology hub for the development & implementation of new and advanced technologies, including machine learning, cloud computing, big data, and IoT.
• Also, the presence of key market players in the region, coupled with the strong emphasis of various governments on enhancing transportation infrastructure, further bolsters the regional market growth during the review period.
Intelligent Transportation System Market Drivers:
Some of the key drivers listed in the report are given below.
• Surging demand for traffic control solutions enhanced improved safety & surveillance provided by modern cameras and license plate recognition (LPRs), and growing demand for smart vehicles integrated with advanced telecommunications technology.
• The rising global population, especially in urban cities, has compelled local municipalities, government bodies, and urban city planners to introduce and innovate new & innovative intelligent transportation systems.
Top Companies in the Intelligent Transportation System Market:
Stratview Research has identified the following companies as the top market players.
• Addco LLC (US)
• Cubic Corporation (US)
• Denso Corporation (Japan)
• FLIR Systems (US)
• Garmin International Inc. (US)
• IBM Corporation (US)
• Lanner Electronics Inc. (Taiwan)
• Siemens AG (Germany)
• Thales Group (France)
• TomTom NV (Netherlands)
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Intelligent Transportation System Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
Related Reports:
• Transportation Management Systems Market: https://www.stratviewresearch.com/2708/transportation-management-systems-market.html
• Unmanned Traffic Management Market: https://www.stratviewresearch.com/617/unmanned-traffic-management-market.html
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About Us:
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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