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The Intelligent Traffic Management System Market Size was valued at USD 11.25 billion in 2023 and is expected to reach USD 32.09 billion by 2031 and grow at a CAGR of 14% over the forecast period 2024-2031.
An intelligent traffic management system is a sophisticated application that attempts to deliver cutting-edge traffic management and transportation services. It allows users to be more informed, efficient, and coordinated, as well as make more intelligent use of transportation networks. It enhances goods and people transportation, decreases traffic congestion, and improves safety. It also complies with transportation policy objectives, such as priority measures for public transportation. Communication and information technologies are used in this system to control traffic in the areas of road infrastructure, users, road transportation, automobiles, and traffic management. In crises such as fires, natural catastrophes, terrorist attacks, and riots, this system is critical in providing an expedient and effective means of the mass evacuation of people.
Road safety, traffic flow, and mobility are all ensured by an intelligent traffic management system. It also delivers real-time information for fast analysis and response to emergencies. Various countries are working to improve their traffic management infrastructure in order to alleviate traffic congestion. The use of telematics services in vehicles can improve security and safety dramatically. Telematics tracking systems are commonly used in automobiles and allow for remote access and activation of vehicles via radio frequency identification.
KEY DRIVERS:
Favorable government initiatives aimed at improving traffic management.
Globally, there is a greater need to alleviate traffic congestion, as well as the rapid growth of smart cities.
Governments are likely to focus on constructing infrastructure that supports smart city transportation networks.
RESTRAINTS:
The high cost of installation.
The market's expansion would be hampered by a scarcity of skilled individuals.
OPPORTUNITIES:
Several countries are implementing ITMS to improve road safety & transportation system operating performance.
Municipalities are establishing an ITMS to reduce on-road traffic congestion.
Developed countries are substantially investing in various ITMS-related projects.
CHALLENGES:
Carbon dioxide emissions in huge quantities.
For an urban planner, safety issues are expected to have an impact on the market expansion.
With the global proliferation of the novel coronavirus COVID-19, automakers are adopting drastic measures such as plant closures to limit the virus's spread. The pandemic COVID-19 has had a significant impact on the market in terms of new sales and installations. Due to component supply difficulties, a number of prominent systems manufacturers have temporarily halted operations. The market demand for intelligent traffic management systems was knowingly influenced by a drop in global vehicle manufacturing due to factory closures. Major automakers' unwavering attempts to develop more modern modes of transportation kept demand afloat. The breakout of the COVID-19 pandemic has had an equal impact on companies, customers, and suppliers, and the worldwide intelligence traffic management system market is projected to face similar issues in 2021.
Based on the solution segment, the global market has been divided into Traffic Monitoring systems, Traffic Enforcement cameras, Traffic Signal Control systems, Intelligent Driver Information systems, Integrated Corridor Management, and Others. One of the most important transportation infrastructures is a traffic monitoring system, and transportation authorities spend a lot of money collecting and analyzing traffic data. A traffic signal control system is an electronic device that controls the sequence of lights at intersections.
By Solution:
Traffic Monitoring System
Traffic Enforcement Camera
Traffic Signal Control System
Intelligent Driver Information System
Integrated Corridor Management
Others
North America: Due to developments in communication technologies that have aided the revolution of the transportation network, North America accounted for the second-largest share of the worldwide market. With rising demand for advanced technologies and the expansion of transportation networks, Asia Pacific is undergoing rapid transformation and is predicted to grow at a high CAGR over the projection period. Governments are working on enhancing overall physical infrastructure to alleviate the strain of declining land carrying capacity. Transportation is an important component of physical infrastructure. Demand for intelligent traffic management systems is likely to rise dramatically in nations like China, Japan, South Korea, and India, which are expected to drive the industry forward. Furthermore, the market is likely to increase as a result of measures done by government authorities in the region.
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REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Siemens AG (Germany), TomTom International BV, IBM Corporation (U.S.), Thales Group (France), SNC-Lavalin Group (Atkins); Q-Free ASA (Norway), Cubic Corporation, General Electric Company, Kapsch TrafficCom, (China), Transcore, are some of the affluent competitors with significant market share in the Intelligent Traffic Management System Market.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 11.25 Billion |
| Market Size by 2031 | US$ 32.09 Billion |
| CAGR | CAGR of 14% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Solution (Traffic Monitoring System, Traffic Enforcement Camera, Traffic Signal Control System, Intelligent Driver Information System, Integrated Corridor Management, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Siemens AG (Germany), TomTom International BV, IBM Corporation (U.S.), Thales Group (France), SNC-Lavalin Group (Atkins); Q-Free ASA (Norway), Cubic Corporation, General Electric Company, Kapsch TrafficCom, (China), Transcore |
| Key Drivers | •Favorable government initiatives aimed at improving traffic management. •Globally, there is a greater need to alleviate traffic congestion, as well as the rapid growth of smart cities. |
| RESTRAINTS | •The high cost of installation. •The market's expansion would be hampered by a scarcity of skilled individuals. |
The Intelligent Traffic Management System Market is expected to reach US$ 32.09 Billion by 2031
Major players in the market are Siemens AG (Germany), TomTom International BV, IBM Corporation (U.S.), Thales Group (France), SNC-Lavalin Group (Atkins); Q-Free ASA (Norway), Quarterhill Inc. (Canada), Baumer Holding AG (Switzerland), Cubic Corporation; Dahua Technology Co. Ltd. (U.S.), General Electric Company, Econolite Control Products, Inc. (U.S.), Kapsch TrafficCom, and others in the final report.
The forecast period of the Intelligent Traffic Management System Market is 2024-2031.
The report is segmented by Solution.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Intelligent Traffic Management System Market, By Solution
9.1 Introduction
9.2 Trend Analysis
9.3 Traffic Monitoring System
9.4 Traffic Enforcement Camera
9.5 Traffic Signal Control System
9.6 Intelligent Driver Information System
9.7 Integrated Corridor Management
9.8 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 Trend Analysis
10.2.2 North America Intelligent Traffic Management System Market by Country
10.2.3 North America Intelligent Traffic Management System Market By Solution
10.2.4 USA
10.2.4.1 USA Intelligent Traffic Management System Market By Solution
10.2.5 Canada
10.2.5.1 Canada Intelligent Traffic Management System Market By Solution
10.2.6 Mexico
10.2.6.1 Mexico Intelligent Traffic Management System Market By Solution
10.3 Europe
10.3.1 Trend Analysis
10.3.2 Eastern Europe
10.3.2.1 Eastern Europe Intelligent Traffic Management System Market by Country
10.3.2.2 Eastern Europe Intelligent Traffic Management System Market By Solution
10.3.2.3 Poland
10.3.2.3.1 Poland Intelligent Traffic Management System Market By Solution
10.3.2.4 Romania
10.3.2.4.1 Romania Intelligent Traffic Management System Market By Solution
10.3.2.5 Hungary
10.3.2.5.1 Hungary Intelligent Traffic Management System Market By Solution
10.3.2.6 Turkey
10.3.2.6.1 Turkey Intelligent Traffic Management System Market By Solution
10.3.2.7 Rest of Eastern Europe
10.3.2.7.1 Rest of Eastern Europe Intelligent Traffic Management System Market By Solution
10.3.3 Western Europe
10.3.3.1 Western Europe Intelligent Traffic Management System Market by Country
10.3.3.2 Western Europe Intelligent Traffic Management System Market By Solution
10.3.3.3 Germany
10.3.3.3.1 Germany Intelligent Traffic Management System Market By Solution
10.3.3.4 France
10.3.3.4.1 France Intelligent Traffic Management System Market By Solution
10.3.3.5 UK
10.3.3.5.1 UK Intelligent Traffic Management System Market By Solution
10.3.3.6 Italy
10.3.3.6.1 Italy Intelligent Traffic Management System Market By Solution
10.3.3.7 Spain
10.3.3.7.1 Spain Intelligent Traffic Management System Market By Solution
10.3.3.8 Netherlands
10.3.3.8.1 Netherlands Intelligent Traffic Management System Market By Solution
10.3.3.9 Switzerland
10.3.3.9.1 Switzerland Intelligent Traffic Management System Market By Solution
10.3.3.10 Austria
10.3.3.10.1 Austria Intelligent Traffic Management System Market By Solution
10.3.3.11 Rest of Western Europe
10.3.3.11.1 Rest of Western Europe Intelligent Traffic Management System Market By Solution
10.4 Asia-Pacific
10.4.1 Trend Analysis
10.4.2 Asia-Pacific Intelligent Traffic Management System Market by Country
10.4.3 Asia-Pacific Intelligent Traffic Management System Market By Solution
10.4.5 China
10.4.5.1 China Intelligent Traffic Management System Market By Solution
10.4.6 India
10.4.6.1 India Intelligent Traffic Management System Market By Solution
10.4.7 Japan
10.4.7.1 Japan Intelligent Traffic Management System Market By Solution
10.4.8 South Korea
10.4.8.1 South Korea Intelligent Traffic Management System Market By Solution
10.4.9 Vietnam
10.4.9.1 Vietnam Intelligent Traffic Management System Market By Solution
10.4.10 Singapore
10.4.10.1 Singapore Intelligent Traffic Management System Market By Solution
10.4.10 Australia
10.4.10.1 Australia Intelligent Traffic Management System Market By Solution
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Intelligent Traffic Management System Market By Solution
10.5 Middle East & Africa
10.5.1 Trend Analysis
10.5.2 Middle East
10.5.2.1 Middle East Intelligent Traffic Management System Market by Country
10.5.2.2 Middle East Intelligent Traffic Management System Market By Solution
10.5.2.3 UAE
10.5.2.3.1 UAE Intelligent Traffic Management System Market By Solution
10.5.2.4 Egypt
10.5.2.4.1 Egypt Intelligent Traffic Management System Market By Solution
10.5.2.5 Saudi Arabia
10.5.2.5.1 Saudi Arabia Intelligent Traffic Management System Market By Solution
10.5.2.6 Qatar
10.5.2.6.1 Qatar Intelligent Traffic Management System Market By Solution
10.5.2.7 Rest of Middle East
10.5.2.7.1 Rest of Middle East Intelligent Traffic Management System Market By Solution
10.5.3 Africa
10.5.3.1 Africa Intelligent Traffic Management System Market by Country
10.5.3.2 Africa Intelligent Traffic Management System Market By Solution
10.5.3.3 Nigeria
10.5.3.3.1 Nigeria Intelligent Traffic Management System Market By Solution
10.5.3.4 South Africa
10.5.3.4.1 South Africa Intelligent Traffic Management System Market By Solution
10.5.3.5 Rest of Africa
10.5.3.5.1 Rest of Africa Intelligent Traffic Management System Market By Solution
10.6 Latin America
10.6.1 Trend Analysis
10.6.2 Latin America Intelligent Traffic Management System Market by country
10.6.3 Latin America Intelligent Traffic Management System Market By Solution
10.6.4 Brazil
10.6.4.1 Brazil Intelligent Traffic Management System Market By Solution
10.6.5 Argentina
10.6.5.1 Argentina Intelligent Traffic Management System Market By Solution
10.6.6 Colombia
10.6.6.1 Colombia Intelligent Traffic Management System Market by Solution
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Intelligent Traffic Management System Market by Solution
11. Company Profiles
11.1 Siemens AG
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Products/ Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 TomTom International BV
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Products/ Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 IBM Corporation
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Products/ Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Thales Group
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Products/ Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 SNC-Lavalin Group
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Products/ Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Q-Free ASA
11.6.1 Company Overview
11.6.2 Financial
11.6.3 Products/ Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
13.7 Cubic Corporation
11.7.1 Company Overview
11.7.2 Financial
11.7.3 Products/ Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 General Electric Company
11.8.1 Company Overview
11.8.2 Financial
11.8.3 Products/ Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Kapsch TrafficCom
11.9.1 Company Overview
11.9.2 Financial
11.9.3 Products/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Transcore
11.10.1 Company Overview
11.10.2 Financial
11.10.3 Products/ Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. Use Case and Best Practices
14. Conclusion
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