Intelligent Traffic Management System Market (By Solution: Traffic Monitoring System, Traffic Signal Control System) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2023-2032

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 traffic monitoring system segment accounted for a market share of 21.73% in 2022.
  • The traffic signal control system segment is expected to grow at considerable CAGR of 14.05% over the forecast period.
  • North America held the major share of 38.09% in 2022 of the global intelligent traffic management system market.
  • The Asia Pacific region is expected to grow at a significant CAGR of 17.5% during the forecast period.

Intelligent Traffic Management System Market Size 2023 to 2032

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)

Frequently Asked Questions

The global intelligent traffic management system market size was reached at USD 10.47 billion in 2022 and it is projected to hit around USD 38.27 billion by 2032.

The global intelligent traffic management system market is growing at a compound annual growth rate (CAGR) of 13.84% from 2023 to 2032.

The North America region has accounted for the largest intelligent traffic management system market share in 2022.

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

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