Intelligent Transportation System Market Share

Regionally, the intelligent transportation system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to hold largest revenue share by 2036, on the back of increasing number of automobiles actively running on roads, excessive traffic congestions, especially during the work hours, and high cases of road accidents. In the U.S., over 200 million vehicles were actively used daily, in 2018. On the other hand, around 10 million vehicles were involved in a road accident in the same year.   

The market in the Europe region is estimated to witness highest CAGR over the forecast period, owing to the presence of major automobile manufacturers in the region, along with growing adoption of automation in the automotive industry.