Intelligent Transportation System Market Future Prospects
The global intelligent transportation system market size is USD 51.7 billion in 2024, and this number is expected to increase to USD 73.9 billion by 2030, advancing at a CAGR of 6.2% during the forecast period (2025–2030). This can be ascribed to the rising need to improve transportation safety and traffic flow, surging usage of advanced communication technologies, and increasing population across the globe, which is driving the sale of land vehicles.
Moreover, the rising safety concerns, surging vehicle congestion in cities, development of advanced driver-assistance systems (ADAS) and connected vehicles, government initiatives for effective traffic management, and development of smart cities around the world are propelling the market forward.