Intelligent Transportation System Market

The report "Intelligent Transportation System Market by Offerings (Interface Board, Sensor, Camera, Monitoring & Detection), Mode (Roadways, Railways, Airways, Maritime) System (Advanced Traffic Management, ITS-enabled Transportation) - Global Forecast to 2029" The global intelligent transportation system market is expected to reach USD 70.7 billion in 2029 from USD 50.7 billion in 2024, at a CAGR of 6.9% during the forecast period. The market's growth is propelled by growing demand from emerging economies, growing public-private partnerships, and growing demand for mobility services. However, the high upfront costs of implementation restrain the market's growth.

Browse 150 market data Tables and 60 Figures spread through 210 Pages and in-depth TOC on "Intelligent Transportation System Market"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/intelligent-transport-systems-its-market-764.html

The Roadways segment is expected to dominate in the forecast period.

The roadways are expected to continue holding major shares of passenger and freight transportation. This huge number of vehicles demands advanced management systems to enable the smooth flow of traffic and decongest it. Various governments are investing in smart city initiatives and roadway infrastructure. These investments focus on the roadways as it has a high impact on daily commuting and economic activities.

The commercial vehicle operation segment is anticipated to grow fastest during the forecast period.

The commercial vehicle operation segment is expected to grow fastest in the forecast period, boosted by several factors. Government regulations and mandates of safety, emissions, and operational standards are being deployed and hence drive the adoption of ITS in commercial vehicle operations. The technologies, such as electronic logging devices, fleet management systems, and telematics, ensure compliance with such regulations.

US in the North America region to dominate the intelligent transportation system market during the forecast period.

The US transport infrastructure is very well developed, with long road networks, highways, and urban transit systems that can support the deployment of advanced ITS technologies. It is home to major technology companies and research institutions developing and implementing advanced ITS solutions. These companies have adopted artificial intelligence, machine learning, IoT, and big data analytics, which are crucial for the success of ITS.

Key players

The intelligent transportation system market includes significant Tier I and II players like Siemens (Germany), Hitachi Ltd. (Japan), Cubic Corporation (US), Conduent Incorporated (US), Kapsch TrafficCom AG (Austria), Denso Corporation (Japan), Teledyne Technologies Incorporated (US), Indra SIstemas S.A. (Spain), Garmin Ltd. (US), and Tomtom International BV (Netherlands) are some of the key players in the intelligent transportation system market.

Don’t miss out on business opportunities in Intelligent Transportation System Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]