Also, Consumer behaviour analysis and market dynamics (drivers, restraints, opportunities) provides crucial information for knowing the Intelligent Transportation Systems (Its) market. The growing number of vehicles on the road, aging infrastructure, and lack of traffic data management are some of the other factors anticipated to contribute to the ITS markets growth. The Advanced Traffic Management System (ATMS) segment accounted for a market share of over 30% in 2022. Nevertheless, advanced traffic management systems capable of utilizing real-time data can efficiently address traffic issues. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. Contact the source provider Comtex at editorial@comtex.com. The sudden fall in the CAGR value is attributable to the lockdowns induced in countries due to the pandemic. 3.Focuses on the key global Intelligent Transportation Systems (Its) manufacturers, to define, describe and analyze the value, market share, market competition landscape, Porter's five forces analysis, SWOT analysis and development plans in next few years. Road traffic congestion is a major problem globally, causing massive loss to economic productivity. . What is the intelligent transportation system market growth? 53 bn. Intelligent Transportation System Market Size Report, 2030. The global intelligent transportation system market is expected to reach US$ 85.52 Bn by the end of 2031. By geography, the global intelligent transport system (ITS) market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. Intelligent Transportation Systems (Its) Market Provides High-class Data: - It is true that the global Intelligent Transportation Systems (Its) market provides a wealth of high-quality data for businesses and investors to analyse and make informed decisions. the market is growing at a steady rate and with the. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Traveler management systems help in easing congestion on roads and in significantly reducing the response times in case of emergencies. Technavios market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.Read the full report: https://www.reportlinker.com/p04988830/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. This can be used to develop long-term strategic plans and to identify potential risks and opportunities for growth. It also provides accurate information and cutting-edge analysis that is necessary to formulate an ideal business plan, and to define the right path for rapid growth for all involved industry players. For instance, in April 2021, a subsidiary of Siemens AG, Siemens Mobility integrated HERE Technologies corridor travel time Application Program Interface (API) to provide a time-as-a-service (JTaaS) solution to assist the British public authorities to reduce traffic congestion. First Republic Bank gets downgrade to junk from Moodys, 3 cybersecurity threats that investors should know about. Inquire or Share Your Questions If Any Before the Purchasing This Report https://www.360marketupdates.com/enquiry/pre-order-enquiry/19994988, Market segment by Region/Country including: -, User center of Intelligent Transportation Systems (Its) market 2023. For instance, smart cards, telecommunications, and other electronic technologies have the potential to improve the efficiency of the transportation system. It focuses on key aspects such as leading companies, product types, and leading applications of the product. Copyright 2023 MarketWatch, Inc. All rights reserved. Our report on the intelligent transport system (ITS) market covers the following areas: Intelligent transport system (ITS) market sizing Intelligent transport system (ITS) market forecast Intelligent transport system (ITS) market industry analysisThis robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading intelligent transport system (ITS) market vendors that include 3M Co., Advantech Co. Ltd., Axiomtek Co. Ltd., Cubic Corp., Denso Corp., EFKON GmbH, Hitachi Ltd., Indra Sistemas SA, International Business Machines Corp., Kapsch TrafficCom AG, Lanner Electronics Inc., Neology Inc., Q Free ASA, Robert Bosch GmbH, Roper Technologies Inc., Siemens AG, Teledyne Technologies Inc., Thales Group, The Cross Country Group, and TomTom International BV. Global Intelligent Transportation Systems (ITS) Market to Reach $39.5 Billion by 2026 Global Intelligent Transportation Systems market is projected to register healthy growth over the near-to-long . Europe is expected to show significant growth in the market over the forecast period. The growing demand for traffic control solutions, smart vehicles, the improved safety and surveillance offered by modern cameras, License Plate Recognition (LPRs), and the rapid development of smart cities, among others, are contributing to the growth of the intelligent transportation system (ITS) industry. Short Description About Intelligent Transportation Systems (Its) Market: Complete Overview of the Global Intelligent Transportation Systems (Its) Market: -Providing a complete overview of the global Intelligent Transportation Systems (Its) market is a complex task, as there are many different markets and industries around the world. Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users. The solution provides BEV and ICE needs in markets with both left and right-hand driving and also delivers a seamless onboard navigation experience that is optimized to provide up-to-date maps and online content to end-users with reduced mobile data consumption, creating robust opportunities for the ITS market. The intelligent transport system market is expected to witness market growth at a rate of 9.05% in the forecast period of 2021 to 2028. Governments in many countries are collaborating with private partners to take active measures towards minimizing traffic congestion. Intelligent Transport Systems (Its) Market - Competitive Analysis: With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth. We also cooperate with some third-party databases. The technology comprises of traffic signal controls, electronic fare payment and constantly updated traveler data in conjunction with multimodal scheduling data. Rising Road Traffic Congestion to Drive Market Growth. Which is the key factor driving the market? The report was very accurate and as per my requirements. Asia-Pacific region currently dominates the global market, and is expected to have the significant contribution in this market over the forecast period. However, the growing preference for digitization of various attributes for implementing intelligent transportation system solutions is one of the major factors for the ITS industrys growth. Which market dynamics affect the business? The remarkable growth of the automotive telematics segment can be attributed to the initiatives being pursued by government bodies for ensuring safety and security on roads. Furthermore, many small enterprises are also working with the government to provide better transportation services. Complimentary 10 hours free analyst time for market review, 3. The global intelligent transportation system market was valued at US$ 24.32 Bn in 2021. Kapsch TrafficCom AG and Axxes SAS formed a joint venture for designing, planning, and implementing an electronic toll collection service. The strong emphasis of various governments on improving transportation infrastructure is driving the adoption of intelligent transportation systems. By geography, the global intelligent transport system (ITS) market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. This is attributable to the United States Department of Transportation (DOT) has been investing heavily in R&D, adoption, and deployment of ITS across the region. AI has the potential to create changes in the modeling of the system. Sign up today for your free Reader Account. 2.To understand the structure of Intelligent Transportation Systems (Its) Market by identifying its various sub segments. It's expected that the market will achieve USD 44458.95 million by 2028, exhibiting a CAGR of 5.83% during the forecast period. The intelligent transportation system is a type of application of communication, analysis, sensing, and control technologies to ground transportation due to improvement of . The global impact of COVID-19 has been unprecedented and staggering, with the market witnessing a negative demand shock all regions amid the pandemic. The dominance of the key players is also current owing to the provision of advanced and developed products. In addition to the aforementioned factors, the report delivers an in-depth market analysis of several factors that have contributed to its growth over recent years. Please find the key player list in Summary. The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. Data Bridge Market Research report on intelligent transport system market provides analysis and insights regarding the various factors . Research and Markets The United States represents the largest regional market for Intelligent Transportation Systems, accounting for an estimated 39.1% share of the global total. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. The countries implementing ITS are likely to have a better future as the world enters the era of connected and autonomous cars. November 17, 2022 10:21 ET It looks quite comprehensive and the data is exactly what I was looking for. 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global intelligent transport systems market