The global intelligent transportation system market is projected to reach $40.76 billion in terms of revenue by 2031 at a CAGR of 5.8%, reveals the premium market intelligence study by BIS Research.
According to recent studies, governments throughout the world are using ITS to enhance road safety and operational performance of the transportation system and lower the environmental effect of transportation.
An intelligent transportation system (ITS) is a technology, application, or platform that enhances transportation quality or achieves other goals such as traffic management, toll management, parking management, and freight management, among others via applications that monitor, manage, or improve transportation networks.
The ITS is primarily reliant on data collecting and processing. The findings of the data collection and analysis system are utilized to regulate, manage, and plan transportation.
The detailed study is a compilation of 100 Market Data Tables and 50 Figures spread through 195 Pages and an in-depth TOC on “Global Intelligent Transportation Systems Market – Analysis and Forecast, 2020-2031”
USP of the Report
This extensive report can help in the following ways:
- A dedicated section focusing on the current and futuristic trends adopted by the key players operating in the global intelligent transportation systems market.
- Extensive competitive benchmarking of top 15 players offering a holistic view of the intelligent transportation systems market landscape.
- Qualitative and quantitative analysis of the intelligent transportation systems market at the region and country-level and granularity by application and product segments.
Analyst’s Take on the Market:
According to Dhrubajyoti Narayan, Lead Analyst, BIS Research, “The growth of digitalization and smart technology such as improved driver-assistance systems, smart sensors, and other intelligent transportation systems is reshaping the transportation world. ITS has a substantial impact on transportation through applications such as electronic toll collection, ramp meters, traffic light cameras, traffic-signal coordination, transit signal priority, and passenger information systems. In addition, the use of ITS in applications such as fleet monitoring, tolling management, ticket management, transportation pricing, telematics, and traffic monitoring is predicted to grow in the coming years. Travelers, companies, and transportation authorities are the primary beneficiaries of ITS safety enhancements and the availability of real-time information and analytics.”
View the report from BIS Research on Global Intelligent Transportation Systems Market
Key Companies Operating in the Market and Competition Landscape
The companies profiled in the report have been selected post in-depth interviews with experts and understanding details around companies such as product portfolios, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the intelligent transportation systems market.
Companies such as Siemens AG, Thales SA, Kapsch TrafficCom AG, Garmin Ltd., Teledyne FLIR LLC, Indra Sistemas, S.A., Ricardo, Swarco Holding, TransCore, EFKON GmbH, Redflex Holdings, Transmax Pty Ltd., Aecom Technology Corporation, Citilog, Agero, Inc.
Key Questions Answered in the Report:
- For a new company looking to enter the intelligent transportation systems market, which areas could it focus upon to stay ahead of the competition?
- How do the existing market players function to improve their market positioning?
- Which are the promising companies that have obtained financial support to develop their services and markets?
- How does the supply chain function in the intelligent transportation systems market?
- Which companies have been actively involved in innovation through patent applications, and which products have witnessed maximum patent applications during the period 2019-2021?
- Which product segment is expected to witness the maximum demand growth in the intelligent transportation systems market during the forecast period 2021-2031?
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