Intelligent transport systems (ITS)—modes of traffic management that enable more coordinated use of transport networks—are a growing trend. The global ITS market is expected to be worth US$20.52bn by the end of 2023 and continue rising at a CAGR of 8.6% up to 2026, according to GlobalData. One of the market’s key drivers is an increasing number of smart cities. The European Commission defines a smart city as an environment enhanced for the benefit of its inhabitants and businesses through digitally improved networks and services. The primary features of a smart city include safer public spaces and smarter urban transport networks.
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