Intelligent Transportation System Market Size Worth USD 48.17 Billion by 2027
The Intelligent Transportation System Market is expected to reach USD 48.17 Billion by 2027, according to a new report by Emergen Research. The increasing number of on-road vehicles and inefficient existing transport infrastructure will encourage the need for an intelligent transportation system. Actions by the government towards establishing a more reliable infrastructure and running the transport system easily are anticipated to grow the market globally. Increasing traffic and growing population in urban areas, and the rise in the adoption of smart cities are key factors contributing to the high growth of the Intelligent Transportation System. Also, intelligent transportation systems can render more reliable safety and security by combining intelligent communication systems in the infrastructure, thus boosting the market growth. Increased income levels have increased the demand for mobility of people and increased road congestions in major cities around t...