The global intelligent transportation system (ITS) market is expected to increase from $18,210.2 million in 2014, and reach $38,013.2 million in 2020, with a CAGR of 13.1% during 2015-2020. The global market is mainly driven by increasing traffic congestion. As the traffic congestion is increasing, people are facing more problems. Traffic congestion wastes time of passengers and leads to delay in reaching the workplace. The most effective solution to reduce traffic congestion is adopting intelligent transportation systems that manage the traffic system more effectively and efficiently. The market in Asia-Pacific is expected to witness the fastest growth with a CAGR of 14.1% during 2015 – 2020.
