Intelligent Transportation System Market to Perceive Substantial Growth during 2030
According to the report, the global intelligent transportation system market is projected to surpass US$ 60 Bn by 2030, expanding at a CAGR of ~10% during the forecast period. The global intelligent transportation system market is estimated to expand at a CAGR of ~10% and surpass US$ 60 Bn by 2030 driven by the urgency to develop transport infrastructure in order to cope with increasing traffic congestion in urban areas across the globe. Countries such as Japan, the U.S., the U.K., and Germany represent developed markets for ITS. Most ITS technologies are first developed, implemented, and tested in these countries. ITS helped these countries to improve efficiency of their existing transportation networks, reduce fuel consumption, and number of road accidents. ITS, with their benefits, have gained popularity in South Korea, Singapore, Australia, and several other countries across the world. India, China, Brazil, and Russia are em...