The global intelligent traffic management system market was surpassed at USD 10.47 billion in 2022 and is expected to hit around USD 38.27 billion by 2032, growing at a CAGR of 13.84% from 2023 to 2032.
Key Pointers
The growth of the market can have attributed to the growing demand for real-time traffic information to passengers, and drivers, along with an increased number of vehicles on the road. Furthermore, insufficient infrastructure and rising government initiatives for effective traffic management also remain key drivers of growth.
The outbreak of the COVID-19 pandemic has severely affected the intelligent traffic management system industry in terms of new sales, and installations and several major manufacturers have suspended their operations temporarily due to disruptions in the supply of components. Simultaneously, the existing ITMS installation across the globe are being used effectively to keep demand afloat. The pandemic had a significant economic impact on various companies, buyers, suppliers, and the market is anticipated to continue to face challenges in the initial phase of 2023.
The market is expected to gain immense traction during the rest of 2022, the growth is expected to be irregular irrespective of the pandemic outbreak. While the demand is not likely to decrease outright, project delays and shifts in different product segments are expected to be inevitable. With improved traffic effectiveness, the intelligent traffic management system market grows over the forecast period. Hence, the post-pandemic era is anticipated to offer lucrative growth opportunities for the incumbents of the ITMS market.
An intelligent traffic management system ensures traffic flow, road safety, and mobility. One of the key factors driving demand for intelligent traffic management systems is the growing development of smart cities. Improved traffic efficiency allows transportation authorities to respond to emergencies faster. Further, the increased use of public transportation can aid in the reduction of carbon dioxide emissions and airborne pollutants for developing smart cities. Moreover, these traffic management solutions also provide real-time data for the analysis and response to emergencies on an immediate basis. These benefits offered by ITMS would further supplement the growth of the market during the forecast period.
Countries across the globe are putting effort into modifying their traffic management infrastructure to reduce traffic congestion. Moreover, the adoption of telematics services in vehicles has a significant impact on security and safety. These services enhance driver safety, reduce fuel consumption, improve driver behavior, and enable cost reduction. Telematics tracking systems are widely deployed in cars, which include accessing and activating vehicles remotely using Radio Frequency Identification (RFID). These factors are estimated to fuel growth opportunities in the intelligent traffic management system market.
Intelligent Traffic Management System Market Segmentations and Key Players:
By Solution | Key Players | Regions Segmentations |
Traffic Monitoring System Traffic Signal Control System Traffic Enforcement Camera Integrated Corridor Management Intelligent Driver Information System Others |
Cubic Corporation SNC-Lavalin Group (Atkins) Thales Group International Business Machines Corporation General Electric Company Siemens AG Kapsch TrafficCom TomTom International BV Q-Free ASA TransCore |
North America Europe Asia Pacific Latin America Middle East & Africa (MEA) |
Chapter 1. Introduction
1.1.Research Objective
1.2.Scope of the Study
1.3.Definition
Chapter 2. Research Methodology
2.1.Research Approach
2.2.Data Sources
2.3.Assumptions & Limitations
Chapter 3. Executive Summary
3.1.Market Snapshot
Chapter 4. Market Variables and Scope
4.1.Introduction
4.2.Market Classification and Scope
4.3.Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5.COVID 19 Impact on Intelligent Traffic Management System Market
5.1. COVID-19 Landscape: Intelligent Traffic Management System Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4.Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1.Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2.Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1.List of Suppliers
7.1.3.2.List of Buyers
Chapter 8. Global Intelligent Traffic Management System Market, By Solution
8.1.Intelligent Traffic Management System Market, by Solution Type, 2023-2032
8.1.1. Traffic Monitoring System
8.1.1.1.Market Revenue and Forecast (2020-2032)
8.1.2. Traffic Signal Control System
8.1.2.1.Market Revenue and Forecast (2020-2032)
8.1.3. Traffic Enforcement Camera
8.1.3.1.Market Revenue and Forecast (2020-2032)
8.1.4. Integrated Corridor Management
8.1.4.1.Market Revenue and Forecast (2020-2032)
8.1.5. Intelligent Driver Information System
8.1.5.1.Market Revenue and Forecast (2020-2032)
8.1.6. Others
8.1.6.1.Market Revenue and Forecast (2020-2032)
Chapter 9. Global Intelligent Traffic Management System Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Solution (2020-2032)
9.1.2. U.S.
9.1.2.1. Market Revenue and Forecast, by Solution (2020-2032)
9.1.3. Rest of North America
9.1.3.1. Market Revenue and Forecast, by Solution (2020-2032)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Solution (2020-2032)
9.2.2. UK
9.2.2.1. Market Revenue and Forecast, by Solution (2020-2032)
9.2.3. Germany
9.2.3.1. Market Revenue and Forecast, by Solution (2020-2032)
9.2.4. France
9.2.4.1. Market Revenue and Forecast, by Solution (2020-2032)
9.2.5. Rest of Europe
9.2.5.1. Market Revenue and Forecast, by Solution (2020-2032)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Solution (2020-2032)
9.3.2. India
9.3.2.1. Market Revenue and Forecast, by Solution (2020-2032)
9.3.3. China
9.3.3.1. Market Revenue and Forecast, by Solution (2020-2032)
9.3.4. Japan
9.3.4.1. Market Revenue and Forecast, by Solution (2020-2032)
9.3.5. Rest of APAC
9.3.5.1. Market Revenue and Forecast, by Solution (2020-2032)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Solution (2020-2032)
9.4.2. GCC
9.4.2.1. Market Revenue and Forecast, by Solution (2020-2032)
9.4.3. North Africa
9.4.3.1. Market Revenue and Forecast, by Solution (2020-2032)
9.4.4. South Africa
9.4.4.1. Market Revenue and Forecast, by Solution (2020-2032)
9.4.5. Rest of MEA
9.4.5.1. Market Revenue and Forecast, by Solution (2020-2032)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Solution (2020-2032)
9.5.2. Brazil
9.5.2.1. Market Revenue and Forecast, by Solution (2020-2032)
9.5.3. Rest of LATAM
9.5.3.1. Market Revenue and Forecast, by Solution (2020-2032)
Chapter 10.Company Profiles
10.1. Cubic Corporation
10.1.1.Company Overview
10.1.2.Product Offerings
10.1.3.Financial Performance
10.1.4.Recent Initiatives
10.2. SNC-Lavalin Group (Atkins)
10.2.1.Company Overview
10.2.2.Product Offerings
10.2.3.Financial Performance
10.2.4.Recent Initiatives
10.3. Thales Group
10.3.1.Company Overview
10.3.2.Product Offerings
10.3.3.Financial Performance
10.3.4.Recent Initiatives
10.4. International Business Machines Corporation
10.4.1.Company Overview
10.4.2.Product Offerings
10.4.3.Financial Performance
10.4.4.Recent Initiatives
10.5. General Electric Company
10.5.1.Company Overview
10.5.2.Product Offerings
10.5.3.Financial Performance
10.5.4.Recent Initiatives
10.6. Siemens AG
10.6.1.Company Overview
10.6.2.Product Offerings
10.6.3.Financial Performance
10.6.4.Recent Initiatives
10.7. Kapsch TrafficCom
10.7.1.Company Overview
10.7.2.Product Offerings
10.7.3.Financial Performance
10.7.4.Recent Initiatives
10.8. TomTom International BV
10.8.1.Company Overview
10.8.2.Product Offerings
10.8.3.Financial Performance
10.8.4.Recent Initiatives
10.9. Q-Free ASA
10.9.1.Company Overview
10.9.2.Product Offerings
10.9.3.Financial Performance
10.9.4.Recent Initiatives
10.10. TransCore
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11.Research Methodology
11.1.Primary Research
11.2.Secondary Research
11.3.Assumptions
Chapter 12.Appendix
12.1. About Us
12.2. Glossary of Terms