Press release
Intelligent Transportation System Market - Forecast on Market Dynamics, Emerging Trends, Growth Factors
Transportation service providers have been constantly seeking cost-effective solutions to boost productivity, increase financial benefits, and solve traffic issues across the globe. Intelligent transportation systems (ITS) have emerged as a way of integrating information and communication technologies with current transportation networks so as to improve their operating efficiency as well as passenger travel experience.For more information on this report, fill the form @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1637
The global intelligent transportation system market has observed substantial growth in the last five years and is expected to grow at a double-digit CAGR in the next eight years. This potential growth has been attracting vendors throughout the value chain of the ITS industry to invest in this sector. The opportunity in the global ITS market was pegged at US$20.22 bn in 2015 and is expected to be worth US$57.44 bn by 2024, expanding at a strong CAGR of 12.7% during forecast period.
Rising Investments from Public Transportation Operators Driving APTS Segment
There are several types of intelligent transportation systems introduced in the market today – advanced traveler information system (ATIS), advanced transportation pricing systems (ATPS), advanced transportation management systems (ATMS), advanced public transportation systems (APTS), automatic number plate recognition systems (ANPR), and cooperative vehicle systems. The ATMS segment accounted for the dominant share in the global ITS market in 2015, driven by the increasing demand for traffic control solutions, particularly adaptive signaling systems, across the world. Highway operators worldwide are installing electronic toll charging systems to minimize traffic at toll booths.
The APTS segment is expected to experience the fastest growth in the global ITS market thanks to public transportation operators investing heavily in electronic fare collection systems and dynamic display systems.
ITS systems are used for a wide range of applications, including road safety and surveillance, traffic management, freight management, environment protection, public transport, automotive telematics, road user charging, and parking management. ITS systems used for traffic management accounted for the major share in 2015, due to increased investments in traffic reduction solutions from governments across the world.
Growth in North America ITS Market Attributed to Strong Government Support
Globally, the intelligent transportation system (ITS) market has been broadly segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America accounted for the major share in the global ITS market in 2015 and is expected to retain its dominance throughout the forecast period. Strong government support and the rising number of research activities and public-private partnerships aimed at improving the transportation network are major factors influencing the ITS market in the region. Canada and Mexico are now implementing U.S. transportation standards to improve the performance of their transportation networks. This represents strong growth in these markets.
Browse Market Research Report @ https://www.transparencymarketresearch.com/intelligent-transportation-system-market.html
The Europe ITS market comprises countries such as Germany, France, the U.K., and Italy. The UK and Germany are two of the early adopters of ITSs and have invested significant amounts in these technologies to overcome traffic and road safety problems. Germany accounted for the leading share in the intelligent transportation system market in Europe in 2015.
Asia Pacific is the most attractive region in the global intelligent transportation system market. Japan is one of the early adopters of ITSs in the world and represents the largest individual ITS market by revenue in Asia Pacific. However, India and China are the fastest growing countries in the Asia Pacific ITS market as several investments are being made in these countries. This is expected to drive the demand for intelligent transportation systems in the region.
Some of the key players in the intelligent transportation system market are Siemens AG, Hitachi Ltd, WS Atkins PLC, Nuance Communications Incorporation, EFKON AG, Garmin International Inc., Iteris Inc., Telenav Inc., Thales Group, and TomTom NV.
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Contact TMR
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
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 - Forecast on Market Dynamics, Emerging Trends, Growth Factors here
News-ID: 884578 • Views: …
More Releases from Transparency Market Research

Global Solar Powered Agricultural Dryer Market to Exceed USD 2.4 Billion by 2031 …
The global solar powered agricultural dryer market, valued at US$ 1.6 billion in 2022, is projected to grow at a CAGR of 5.8% from 2023 to 2031, reaching US$ 2.4 billion by the end of 2031. Rising investments in renewable energy, growing awareness of sustainable agricultural practices, and the rapid expansion of the agricultural sector driven by population growth are key factors fueling market growth.
Uncover essential discoveries and trends from…

Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Ra …
The global Technetium‐99m Market was valued at US$ 6.0 Billion in 2023 and is projected to grow at a CAGR of 3.3% from 2024 to 2034, surpassing US$ 8.6 Billion by the end of the forecast period. Advancements in nuclear imaging infrastructure, government-backed healthcare initiatives, and an increasing demand for precise diagnostic procedures are fueling this growth.
Discover essential conclusions and data from our Report in this sample -
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77100
Analysts' Viewpoint
The Technetium‐99m…

Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to …
The global Equine Diagnostic Services Market, valued at approximately US$ 168 million in 2019, is projected to expand at a compound annual growth rate (CAGR) of ~5% from 2020 to 2030, reaching around US$ 280 million by 2030. Equine diagnostic services, encompassing tests like genetic, infectious disease, and imaging diagnostics, are critical for managing horse health in veterinary hospitals, clinics, and mobile settings. The market is driven by increasing equine…

Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of …
The digital printing market is experiencing strong growth, driven by rapid technological advancements, rising demand for personalized and on-demand printing, and an increasing focus on sustainable solutions. Digital printing allows for the direct transfer of digital files onto a wide range of substrates, offering high-resolution output with greater speed and flexibility. Its adaptability has led to broad adoption across industries such as packaging, textiles, publishing, and advertising-sectors where customization, efficiency,…
More Releases for Transportation
Treks Transportation: Premium Transportation Charter Service for Every Need
Treks Transportation offers customized transportation charter services, providing flexibility, comfort, and convenience for business trips, personal travel, and special events with personalized itineraries and private travel experiences.
Transportation charter services have become essential for those seeking customized travel experiences. Whether for business, personal trips, or special events, these services offer unparalleled flexibility, comfort, and convenience. Treks Transportation's transportation charter service is designed to cater to various travel needs, from corporate events…
Barge Logistic Transportation Market Sets the Table for Continued Growth | Kirby …
The latest study released on the global 'Barge Logistic Transportation' market by AMA Research evaluates market size, trend, and forecast to 2030. The 'Barge Logistic Transportation' market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
Get…
Barge Logistics Transportation Market is Booming Worldwide | Kirby, SEACOR, Bouc …
The latest study released on the Global Barge Logistics Transportation Market by AMA Research evaluates market size, trend, and forecast to 2028. The Barge Logistics Transportation market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
Download…
Air Transportation Market 2028 by Transportation Type, Transportation Mode and G …
Global Air Transportation Market 2028 Report give our customers an exhaustive and top to bottom examination of Air Transportation market alongside its key factors, for example, market diagram and rundown, pieces of the pie, restrictions, drivers, local examination, players, serious elements, division, and considerably more. The Air Transportation Market information introduced inside this report is acquired dependent on a few strategies, for example, PESTLE, Porter's Five, SWOT examination, the effect…
Student Transportation Service Market Is Booming Worldwide | Dean Transportation …
Student Transportation Service Market: The extensive research on Student Transportation Service Market, by Qurate Research is a clear representation on all the essential factors that are expected to drive the market considerably. Thorough study on Student Transportation Service Market helps the buyers of the report, customers, the stakeholders, business owners, and stockholders to understand the market in detail. The updated research report comprises key information on the market, such as…
Student Transportation Service Market | Global and Regional Analysis and Forecas …
Student Transportation Service Market describes an in-depth evaluation and Covid19 Outbreak study on the present and future state of the Student Transportation Service market across the globe, including valuable facts and figures. Student Transportation Service Market provides information regarding the emerging opportunities in the market & the market drivers, trends & upcoming technologies that will boost these growth trends. The report provides a comprehensive overview including Definitions, Scope, Application, Production…