Intelligent Traffic Management System Market size was valued at USD 9.63 Billion in 2021, registering a CAGR of 12.9% during the forecast period (2022-2030), and the market is projected to be worth USD 28.7 Billion by 2030.
Intelligent traffic management governs or supports traffic control by utilising a range of technologies and data sources depending on real-time traffic congestion levels and other variables. Because intelligent traffic management enhances safety, lowers congestion, promotes highway efficiency, and improves emergency response and transit system operations while engaging with automobiles on the road, demand for the Intelligent Traffic Management System (ITMS) is skyrocketing.
Intelligent Traffic Management System Market Research Report” was just released by Market Research Community. It is divided into several categories, including Solution (Traffic Monitoring System, Traffic Signal Control System, Traffic Enforcement Camera, Integrated Corridor Management, Intelligent Driver Information System, Others), Product Type (Integrated Urban Traffic Control System, Variable / Dynamic Message Signs, Emergency Response Systems, Border Control System, Electronic Toll Collection System, Parking Management System, Violation and Measurement Systems, Tunnel Management System, Freeway Management System, Other Systems), Spender Type (Infrastructure Enterprises & PPPs, Federal and Provincial Government, Industries & Commercial Enterprise) Components (Traffic Controllers and Signals, Surveillance Cameras, Video Walls,Server,3D Simulators, GUI Workstation, Detectors & Sensors, Other Components) and companies (Cubic Corporation, SNC-Lavalin Group (Atkins),Thales Group, International Business Machines Corporation, Electric Company, Siemens AG, Kapsch Traffic Com, TomTom International BV, Q-Free ASA, TransCore, IBM Corporation), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 12.9%, over the forecast period of 2022–2030
The increased adoption of Intelligent Traffic Management System in the Next Generation industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Intelligent Traffic Management System also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Intelligent Traffic Management System in many sectors also boosts the market growth during the forecast period.
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||28.7 Billion|
|By Solution||Traffic Monitoring System, Traffic Signal Control System, Traffic Enforcement Camera, Integrated Corridor Management, Intelligent Driver Information System, Others|
|By Product Type||Integrated Urban Traffic Control System, Variable / Dynamic Message Signs, Emergency Response Systems, Border Control System, Electronic Toll Collection System, Parking Management System, Violation and Measurement Systems, Tunnel Management System, Freeway Management System, Other Systems|
|By Spender Type||Infrastructure Enterprises & PPPs, Federal and Provincial Government, Industries & Commercial Enterprise|
|By Components||Traffic Controllers and Signals, Surveillance Cameras, Video Walls,Server,3D Simulators, GUI Workstation, Detectors & Sensors, Other Components|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||Cubic Corporation, SNC-Lavalin Group (Atkins),Thales Group, International Business Machines Corporation, Electric Company, Siemens AG, Kapsch Traffic Com, TomTom International BV, Q-Free ASA, TransCore, IBM Corporation|
The COVID-19 pandemic has had a substantial negative influence on the Intelligent Traffic Management System market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Cubic Corporation, SNC-Lavalin Group (Atkins),Thales Group, International Business Machines Corporation, Electric Company, Siemens AG, Kapsch Traffic Com, TomTom International BV, Q-Free ASA, TransCore, IBM Corporation
Market Segment Analysis:
By Product Type
- Integrated Urban Traffic Control System
- Variable / Dynamic Message Signs
- Emergency Response Systems
- Border Control System
- Electronic Toll Collection System
- Parking Management System
- Violation and Measurement Systems
- Tunnel Management System
- Freeway Management System
- Other Systems
By Spender Type
- Infrastructure Enterprises & PPPs
- Federal and Provincial Government
- Industries & Commercial Enterprise
- Traffic Controllers and Signals
- Surveillance Cameras
- Video Walls
- 3D Simulators
- GUI Workstation
- Detectors & Sensors
- Other Components
- Traffic Monitoring System
- Traffic Signal Control System
- Traffic Enforcement Camera
- Integrated Corridor Management
- Intelligent Driver Information System
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Intelligent Traffic Management System industries in the region.
Key Intelligent Traffic Management System Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Intelligent Traffic Management System Market segments.
– Largest Market Share Held by Industry to Industry for Intelligent Traffic Management System
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Intelligent Traffic Management System Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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