Intelligent Transportation System Market Analysis and Forecast Report, 2012 to 2022

Intelligent Transportation System (ITS) market is expected to witness substantial growth over the forecast period. This can be attributed to its ability to enhance performance, reduce accidents, optimize fuel consumption and enable multimodal transport through integration of Information and Communications Technology (ICT). Increasing adoption of ITS to improve safety and reduce road accidents is also expected to significantly drive the intelligent transportation system market. Growing population and rise in number of vehicles has driven the need for effective traffic management. Standardization and interoperability issues may hinder intelligent transportation system market growth over the forecast period. However, establishment of unified technology and standardization, necessary for effective communication may help overcome the aforementioned issues.