Latest Market Research Report 2025

The  global Intelligent Transportation System (ITS) market  was valued at  USD 51.16 billion in 2023  and is projected to experience significant growth at a compound annual growth rate (CAGR) of  8.5% from 2023 to 2030 . Several factors are driving this growth, including the increasing demand for traffic control solutions and smart vehicles, enhanced safety and monitoring capabilities provided by technologies such as  License Plate Recognition (LPR)  systems and modern cameras, as well as the emergence of  smart cities . The Intelligent Transportation System encompasses a range of traffic management solutions designed to improve road safety, optimize traffic flow, and enhance overall mobility, thereby fostering a positive outlook for the market. The  COVID-19 pandemic  posed challenges to the ITS market, hampering the implementation of projects and slowing down new sales and installations in 2020. However, starting from mid-2021, the ITS...

   The global   Intelligent Transportation System (ITS) market   was valued at   USD 51.16 billion   in 2023 and is projected to grow at a notable   compound annual growth rate (CAGR) of 8.5%   from 2023 to 2030. This growth is driven by several key factors, including the rising demand for   traffic control solutions   and   smart vehicles , the enhanced safety and monitoring features provided by   License Plate Recognition (LPRs) , and modern traffic cameras, as well as the rapid development of   smart cities . These technologies, which form the backbone of ITS, offer robust solutions for managing traffic flow, improving road safety, and enhancing mobility, thereby fostering positive market trends. The  COVID-19 pandemic  initially hampered the implementation of ITS projects and new sales of these systems in 2020 due to disruptions in global supply chains and infrastructure development activities. However, from ...