Categories: Press Release

Intelligent Transportation System Market Size, Share and Growth During the Forecast Period 2023-2028

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Intelligent Transportation System Market Analysis and Insights:

The Intelligent Transportation System Market size is estimated to grow at a CAGR of around 8.5% during the forecast period, i.e., 2023-28.

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Intelligent Transportation System Market Dynamics

Key Driver: Ever-Growing Need to Reduce Traffic Congestion

The increasing traffic congestion due to the rising number of vehicle purchases resulting from enhanced living standards & disposable income is pushing the demand for a smart transportation system. Thus, the traffic issues like congestion and many private vehicles on the road incompatible with traditional infrastructural designs and traffic systems are driving the market. Additionally, it provides limitless solutions to traffic and road issues by assisting drivers and passengers, reducing accident chances by delivering advanced and fast suggestions, and leading the traffic by calculating numerous dimensions from vehicles to infrastructures. Therefore, the industry is expected to expand exponentially, further enhancing the Global Intelligent Transportation System Market size.

Intelligent Transportation System Market Report Segmentation:

The report has segmented the market into the following categories:

By Component

-Hardware

–Sensor

–Interface Boards

–Surveillance Camera

–Monitoring & Detection System

–Telecommunication Network

–Others

-Software

–Visualization Software

–Transit Management System

–Video Detection Management Software

–Others

-Services

–Professional

–Managed

By Type

-Advanced Public Transportation System (APTS)

-Advanced Traffic Management System (ATMS)

-Advanced Traveler Information System (ATIS)

-Advanced Transport Pricing System (ATPS)

-Its-Enabled Transportation Pricing System (ITPS)

-Others

By End User

-Traffic Management

-Freight Management

-Road Tolling System

-Road Safety and Security

-Public Transport

-Environment Protection

-Parking Management

-Others (Automotive Telematics, etc.)

By Mode of Transport

-Roadways

-Airways

-Railways

-Maritime

By Deployment

-Cloud

-On-Premise

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Market Divided by Region/Country:

By Region

-North America

-South America

-Europe

-Middle East & Africa

-Asia-Pacific

Who are the top Companies in the Intelligent Transportation System Market?

Denso Corporation, Iteris, Lanner Electronics, Agero, EFKON, Cisco, Flir System, Siemens, TransCore, Citilog and Others

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Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.