The global Intelligent Transportation System (ITS) Market is expected to reach USD 48.17 Billion by 2027, according to a new report by Emergen Research. The increasing number of on-road vehicles and inefficient existing transport infrastructure will encourage the need for an intelligent transportation system. Actions by the government towards establishing a more reliable infrastructure and running the transport system easily are anticipated to grow the market globally.
The latest research report by Emergen Research, named ‘Global Intelligent Transportation System Market - Forecast to 2027’, entails a comprehensive review of the global Intelligent Transportation System market’s present and future trends. The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe. The study is inclusive of a profound analysis of this business sphere focuses on the overall remuneration of the market over the projected period.
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Also, intelligent transportation systems can render more reliable safety and security by combining intelligent communication systems in the infrastructure, thus boosting the market growth. Increased income levels have increased the demand for mobility of people and increased road congestions in major cities around the world, which has fostered the demand for advanced transportation systems.
Key Highlights From The Report
- Roadways are considered the fastest-growing segment in the intelligent transport system market. The rise in the number of commercial and manufacturing activities will encourage market players to deploy proper asset management and monitoring systems.
- The advanced traffic management system held the largest market share in the ITS market. This is due to the growing traffic congestion on roads and an increase in the affordability of vehicles. The availability of favorable deals by the automotive manufacturers and changing lifestyle will lead to traffic congestion. This is expected to foster the segment’s demand.
- The growth in demand for driving assistance and the automatic driving system will support the demand for automotive telematics. Moreover, factors such as the need to reduce traffic on roads and an increase in government funding will propel the demand.
Global Intelligent Transportation System Market – Overview:
The latest market intelligence report, titled ‘Global Intelligent Transportation System Market’, is intended to provide the target audience with the necessary information about the global Intelligent Transportation System industry. The report comprises a detailed analysis of the vital elements of the Intelligent Transportation System market, including key drivers, constraints, opportunities, limitations, threats, and micro- and macro-economic factors. The report carefully investigates the present market scenario and the fundamental growth prospects. The report entails an organized database of the Intelligent Transportation System market dynamics that helps market analysts estimate the global market growth rate over the projected timeline.
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Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
Global Intelligent Transportation System Market Report – Table of Contents:
- Chapter 1 includes the global Intelligent Transportation System market introduction, followed by the market scope, product offerings, growth opportunities, market risks, driving forces, and others.
- Chapter 2 broadly categorizes the Intelligent Transportation System market on the basis of geography, and determines the sales, revenue, and market shares of each region over the estimated period.
- Chapter 3 elaborates on the competitive outlook of the Intelligent Transportation System market, focusing on the major manufacturers and vendor landscape.
- Chapter 4 exhaustively studies the key manufacturers of the Intelligent Transportation System industry, along with their anticipated sales and revenue shares.
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