Report: Public transport ITS market in Europe and North America to reach £3.14bn by 2023
According to the latest forecast from Berg Insight, the public transport market for intelligent transportation systems (ITS) in Europe and North America will reach €3.7 billion (£3.14bn) by 2023.
In 2018, the market value for ITS deployed in public transport operations in Europe was £1.32bn. By 2023, it is expected to reach £1.83bm, growing at a CAGR of 6.8%. Similarly, the North American market for public transport ITS is forecasted to grow at a CAGR of 7.3% from £910.7m in 2018 to reach £1.29b in 2023.
Adam Bjorkman, IoT analyst at Berg Insight, said: “The penetration