The global intelligent transportation system market size was US$ 16.1 billion in 2021. The global intelligent transportation system market is forecast to grow to US$ 50.9 billion by 2030 by registering a compound annual growth rate (CAGR) of 15.1% during the forecast period from 2022 to 2030.
Intelligent transportation systems are a type of ground transportation application that improves efficiency, mobility, and safety of the transportation, by utilizing communication, analysis, sensing, and control technologies. Intelligent transportation systems are new emerging cutting-edge technologies that are widely being used in cars, infrastructure, and operating systems smarter.

Factors Influencing the Market
Growing congestion in cities is the primary factor driving the growth of the global intelligent transportation system market. Further, the global intelligent transportation system market is forecast to experience favourable growth opportunities due to the rising use of ITS, which aids in the provision of real-time traffic statistics.
Sensor applications in measuring vehicle speed, traffic signals, pre-emption alarms, and other traffic-related data are gaining wide traction as it helps gather real-time traffic statistics. Thus, such beneficial applications of the intelligent transportation system will drive the growth of the overall market during the study period. The rising demand for smart vehicles with inbuilt intelligent transportation systems will contribute to the growth of the market. On the contrary, high investment associated with false eyelashes may limit the growth of the market during the study period.

COVID-19 Impact Analysis
The global intelligent transportation system market witnessed a substantial drop due to the COVID-19 outbreak. Due to the pandemic, the demand for vehicles reduced drastically across various nations as governments imposed lockdown restrictions. Moreover, a halt in movement decreased the demand for vehicles. It also hampered R&D activities, which ultimately impeded the growth of the market.

Regional Analysis
North America is forecast to dominate the global intelligent transportation system market, owing to the region being the technology hotspot. Further, the early adoption of advanced technology, combined with the rising use of machine learning, big data, cloud computing, and the Internet of Things (IoT) to develop outperforming vehicles, will contribute to the growth of the market. The region is also home to some of the prominent companies thriving in the intelligent transportation system market, such as Cubic Corporation, FLIR Systems, Inc., etc., which will drive the market forward.

Competitors in the Market
Thales Group
Siemens
Kapsch TrafficCom
Garmin
TomTom International BV
Cubic Corporation
Q-Free ASA
EFKON GmbH
FLIR Systems, Inc.
Indra Sistemas
Other Prominent Players

Market Segmentation
The global intelligent transportation system market segmentation focuses on System, Application, and Region.
By System type
Advanced Traffic Management System
Advanced Traveler Information System
Its-Enabled Transportation Pricing System
Advanced Public Transportation System
Commercial Vehicle Operation
By Application
Fleet Management and Asset Monitoring
Intelligent Traffic Control
Collision Avoidance
Parking Management
Passenger Information Management
Ticketing Management
Emergency Vehicle Notification
Automotive Telematics
By Region
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America