The size of the intelligent transportation system market was $42,780 million in 2021, and will reach to $102,617 million by 2030, at a growth rate of 10% in the years to come. This is mainly attributed to the increasing necessity to advance transportation safety and flow of traffic, surging use of cutting-edge communication technologies, and growing population worldwide, driving the sale of land automobiles.

Services had the largest revenue share, of about 50%, in 2021, and it will maintain its position in the years to come. This is owing to the necessity to surge surface transportation network competence and connectivity, requiring the appropriate maintenance of ITS equipment. Moreover, the data stored on cloud and additional storage amenities must be efficiently updated and achieved, for the suitable working of the system.

An intelligent transportation system will minimalize the ecological impact of air, land and marine automobiles on human health, through an upgrading in air quality. Emissions from vehicles can be abridged to a great degree by enlightening traffic flow with the usage of better network management methods.

APAC will register the fastest growth, with a growth of approximately 8%, in the years to come. This fast growth has a lot to do with the speedy urbanization, evolving transportation infra, increasing usable income linked with the improving living standards, developing automobile industry, and fast emerging road infra in countries like India and China.

China had the largest demand in 2021, and it will maintain the position in the years to come, because of the growing acceptance of new technologies, increasing volume of daily commuters, and several government initiatives taken for reducing emissions.
Increasing usage of advanced communication technologies, and with the increasing global population, the demand for ITS solutions is increasing all around the globe.