Advancements in Automotive Sector to Drive the Intelligent

NEWARK, Del, July 21, 2022 (GLOBE NEWSWIRE) — The global intelligent transport system market is projected to reach a value of US$ 37.8 Bn by the end of 2022, with sales growing at a prolific CAGR of 13.4% over the forecast period of 2022-2027.

The market will reach an estimated a value of US$ 70.8 Bn by 2027. Elevated demand for enhanced transportation infrastructure and growing need for better traffic management and control is expected to boost the market over the forecast period.

Rising incidences of road accidents and collisions have fueled the growing demand for advanced traffic control solutions. The adoption of smart vehicles across regions like the U.S., China, and the U.K. are promoting the demand for intelligent traffic control systems. These two factors are the primary drivers of the intelligent transport system market growth and expansion.

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