Intelligent Transportation System Market Worth $42,936.1 Million by 2028: Grand View Research, Inc.

Read 170-page market research report, "Intelligent Transportation System Market Size, Share & Trends Analysis Report By Type (ATIS, ATMS, ATPS, APTS, EMS), By Application, By Region, And Segment Forecasts, 2021 - 2028", published by Grand View Research. Read 170-page market research report, "Intelligent Transportation System Market Size, Share & Trends Analysis Report By Type (ATIS, ATMS, ATPS, APTS, EMS), By Application, By Region, And Segment Forecasts, 2021 - 2028", published by...

Read 170-page market research report, "Intelligent Transportation System Market Size, Share & Trends Analysis Report By Type (ATIS, ATMS, ATPS, APTS, EMS), By Application, By Region, And Segment Forecasts, 2021 - 2028", published by Grand View Research.

Intelligent Transportation System Market Growth & Trends

Advances in telecommunications technologies and the evolution of IT systems are expected to help in reducing traffic congestions. Given that modern traffic control strategies focus more on utilizing real-time data while simultaneously addressing impact criteria, such as emission control; the integration of ITS with smart grid and other energy distribution and charging systems can potentially help distribution agencies in utilizing the real-time data to draft capacity expansion strategies for the future. According to the ITS Development Strategy drafted by the Department of Transport of the Republic of Korea, intelligent transportation systems can help significantly in reducing traffic congestion, preventing automobile idling, and subsequently in reducing fuel consumption and hence greenhouse gas emissions.

The growing volumes of data involved in transportation management are driving the need for more sophisticated data processing solutions. As such, intelligent transportation systems are leveraging AI to track data in real-time and optimize efficiency. International Business Machine's Watson is an example of the implementation of artificial intelligence (AI) in transportation management to identify damages to logistics assets leveraging cognitive visual recognition capabilities and to manage the network and optimize routes leveraging predictive analysis.

Intelligent Transportation System Market Segmentation

Grand View Research has segmented the global intelligent transportation system market based on type, application, and region:

Intelligent Transportation System Type Outlook (Revenue, USD Million, 2018 - 2028)

Intelligent Transportation System Application Outlook (Revenue, USD Million, 2018 - 2028)

Intelligent Transportation System Regional Outlook (Revenue, USD Million, 2018 - 2028)

List of Key Players of Intelligent Transportation System Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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