Global Intelligent Transportation System Market report, market size and forecast to 2028
Added: (Wed Nov 02 2022)
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Stratistics MRC’s Global Intelligent Transportation System Market value is expected to reach $93.29 billion growing at a CAGR of 12.0% during 2022-2028.
Description:
An intelligent transportation system (ITS) is a cutting-edge technology that aims to provide cutting-edge services relating to various modes of transportation and traffic management and gives users the information they need to use transportation networks in a safer, more organized, and "smarter" way. Alternatively said, an Intelligent Transport System (ITS) is a system that permits data exchange and communication between vehicles, road infrastructure, users, and drivers. In order to increase the security and effectiveness of the transportation system, ITS uses computers, sensors, and electronics.
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By geography, North America is projected to hold the largest market share during the forecast period owing to the active development and use of cutting-edge technologies like machine learning, big data, cloud computing, and IoT, the area is regarded as a technology hotspot. Large international market companies are also based in the region. The development of intelligent transportation systems is being fuelled by the significant emphasis that various governments in the region are placing on enhancing the regional transportation network. In response to rising traffic and the ensuing congestion, numerous public-private collaboration attempts to implement intelligent transportation systems are taking shape in numerous cities across North America.
Some of the key players profiled in the Intelligent Transportation System Market include Siemens AG, Cubic corporation, Garmin ltd., Thales group, Conduent, inc., Indra sistemas, s.a., Denso corporation, Teledyne flir llc, Kapsch trafficcom, Hitachi, Ltd., Xerox Corporation, Iteris, Inc., Agero, Inc., Recardo, Sensys Networks, Inc., Telenav, Inc., TomTom International BV, EFKON GmbH, Nuance Communications, Inc., Q-Free ASA.
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Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
● Company Profiling
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● SWOT Analysis of key players (up to 3)
● Regional Segmentation
● Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
● Competitive Benchmarking
● Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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