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In the United States alone, the Intelligent Transport Systems market value in 2019 was nearly $23 billion USD, and its compound annual growth rate (CAGR) is estimated at a little over 5 percent through 2025.
In the United States alone, the Intelligent Transport Systems market value in 2019 was nearly $23 billion USD, and its compound annual growth rate (CAGR) is estimated at a little over 5 percent through 2025.
( Source: Adobe Stock)

Smart Mobility Overview of the Intelligent Transport Systems market

| Author / Editor: Jason Unrau / Erika Granath

The swell of the middle class has driven the increased use of vehicles, whether personal cars or shared mobility options. With that rise in traffic, the needs to control traffic flow and increase safety are major factors for governments worldwide. That's where Intelligent Transport Systems (ITS) come into play, and it's a rapidly growing market. Here's where the market is right now, and where it's headed.

Intelligent Transport Systems, or ITS, have accelerated in popularity for smart cities and conservative communities alike, albeit at different paces. ITS refers to advanced technologies applied to vehicles, infrastructure, and control systems that lead to connected or intelligent mobility.

The ITS market is still in a relatively fledgling state, but it is predicted to grow in the coming years.