The global intelligent transport system (ITS) market size is calculated at USD 48.89 billion in 2024 and is predicted to reach around USD 173.45 billion by 2034, expanding at a CAGR of 13.5% from 2024 to 2034.
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Intelligent Transport System (ITS) is a national program aimed to utilise modern computers and communication to make travel smarter, safer, faster, and much more convenient. ITS offers reduced congestion on driveways, prevents accidents, and provides drivers with actual information about the road’s condition. The application of intelligent transport systems is widely noticed to manage and control traffic on roadways, pre-trip traveller information, en-route traveller information, transit vehicle tracking and security and many more. The growing urbanization is increasing the demand for better traffic congestion management, contributing to the adoption of intelligent transport system (ITS) market growth.
Additionally, the integration of IoT and artificial intelligence in intelligent transportation systems improves the safety, efficiency, and sustainability of transportation. Regionally, the Asia-Pacific region is dominating the intelligent transport system (ITS) market due to the surging population demand for efficient transport and a proper traffic system. Followed by that is the United States consisting of smart city initiatives, propelling the implementation of AI in intelligent transportation systems. This also results in reducing carbon emissions, creating a positive impact on the surroundings.
Published by Yogesh Kulkarni
