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Global Intelligent Transportation Systems (ITS) Market to Reach $39.5 Billion by 2026SAN FRANCISCO, July 14, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Intelligent Transportation Systems (ITS) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace. FACTS AT A GLANCE Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry ABSTRACT- Global Intelligent Transportation Systems (ITS) Market to Reach $39.5 Billion by 2026 ITS, entailing the application of information, communication, sensor and control systems to improve surface transportation systems' performance, can be classified into areas that address different transportation requirements such as travel security, reliability, higher mobility and lowered traffic jams. The technology comprises of traffic signal controls, electronic fare payment and constantly updated traveler data in conjunction with multimodal scheduling data. Superior navigation, communications, operations monitoring and data-collecting technologies are applied to improve the mobility, security and efficiency of transportation. Traveler management systems help in easing congestion on roads and in significantly reducing the response times in case of emergencies. ITS for public transportation services aid in streamlining transit, enable transit firms in identifying the precise location of vehicles and ensuring safety of commuters. Global Intelligent Transportation Systems market is projected to register healthy growth over the near-to-long term. The market, estimated at US$23.8 Billion in 2020 is projected to reach US$49.5 Billion by 2026, registering a compounded annual growth rate (CAGR) of 8.8% over the analysis period. The United States represents the largest regional market for Intelligent Transportation Systems, accounting for an estimated 39.1% share of the global total in 2020. The market, estimated at US$9.3 Billion in 2020 is projected to reach US$15.9 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 14.2% over the analysis period. The market is expected to progress steadily to evolve as a major regional market for Intelligent Transportation Systems, supported by various factors conducive to healthy growth. ATMS Segment to Reach $12.6 Billion by 2026 MarketGlass™ Platform Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android About Global Industry Analysts, Inc. & StrategyR™ CONTACTS: LINKS Connect With Us on LinkedIn Follow Us on Twitter Journalists & Media View original content to download multimedia:https://www.prnewswire.com/news-releases/global-intelligent-transportation-systems-its-market-to-reach-39-5-billion-by-2026--301333542.html SOURCE Global Industry Analysts, Inc. |