News

Smart transportation tech market to top $36B by 2020

July 15, 2016

The intelligent transportation market is expected to be worth $36.10 billion by 2020, maintaining a calculated annual growth rate of 8.3 percent between 2016 and 2020, according to a new study by MarketsAndMarkets.

The report segments the industry based on roadway and aviation tools such as kiosks, smart gate systems, hardware and software. It covers major drivers of growth such as safety concerns for drivers and pedestrians.

Roadway transportation is expected to claim the largest market share of the intelligent transportation market, with commercial vehicle operation systems expected to yield the highest CAGR. North America accounted for the largest market share in 2015.

The report is available at http://www.marketsandmarkets.com/Market-Reports/intelligent-transport-systems-its-market-764.html