Product ID: UCMIG20R2014
Intelligent Transportation System Market Size, Share, Growth Analysis, By Type(Advanced Traffic Management System (ATMS), Advanced Traveler Information System (ATIS)), By regions(North America, Europe) - Industry Forecast 2024-2031
Report ID:
UCMIG20R2014 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Intelligent Transportation System Market Insights
Market Overview:
The market size of the global intelligent transportation system (ITS) was USD 21.82 billion in 2020. Our analysis indicates that the market is expected to grow from USD 22.91 billion in 2021 to USD 42.80 billion in 2028, exhibiting a CAGR of 9.34% during 2021-2028. The COVID-19 pandemic had an unprecedented and staggering impact globally, resulting in a negative demand shock for the market in all regions. The sudden decline in the CAGR value can be attributed to the lockdowns imposed in various countries due to the pandemic.
Intelligent Transportation System Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Air Freight & Logistics by segment aggregation, the contribution of the Air Freight & Logistics in Transportation and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Intelligent Transportation System Market Report Snapshots
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