Intelligent Transportation System Market Overview and Analysis:
The estimated size of the global intelligent transportation system (ITS) market reached USD 49.87 billion in 2022, and it is projected to experience a compound annual growth rate (CAGR) of 8.8% from 2023 to 2031.
An Intelligent Transportation System (ITS) refers to a comprehensive and interconnected set of technologies, applications, and communication systems designed to enhance the efficiency, safety, and overall performance of transportation networks. ITS leverages advanced information and communication technologies to intelligently manage and optimize various aspects of transportation, including traffic flow, vehicle mobility, and traveller safety.
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