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Intelligent Transportation System Market Trends

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Report ID: 3261
Published Date: Aug 30, 2024
Report Format: PDF, PPT

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Intelligent Transportation System Market Trends

Growth Drivers

Increasing Cases of Road Accidents
Government Concerns Regarding the Economic Loss caused by Traffic Jams

Challenges

High Installation Cost

Intelligent Transportation System Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	8.2%
Base Year Market Size (2023)	USD 50.79 billion
Forecast Year Market Size (2036)	USD 141.49 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

Intelligent Transportation System Market Size & Share, Growth Report 2036

Author Credits: Abhishek Verma

Report ID: 3261
Published Date: Aug 30, 2024
Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of intelligent transportation system is assessed at USD 54.12 billion.

Intelligent Transportation System Market size was over USD 50.79 billion in 2023 and is projected to exceed USD 141.49 billion by 2036, growing at over 8.2% CAGR during the forecast period i.e., between 2024-2036. Increasing initiatives by government to curb road accidents will impel the market growth.

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.

The major players in the market include Thales Group, Cubic Corporation, Teledyne FLIR LLC, Garmin Ltd., IBM Corporation, Siemens AG, Kapsch AG, TomTom International BV., Hitachi Ltd, and others.

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