The intelligent traffic management system market reached a valuation of US$ 17.75 Billion by 2021Y, and is likely to register a Y-o-Y growth rate of 6.0% in 2022, closing at US$ 18.94 Billion. Furthermore, across the 2022-2032 period of assessment, growth is expected to accelerate at a whopping 6.7% CAGR, reaching US$ 36.22 Billion.
The increasing demand for presenting real-time traffic information to drivers and passengers is one of the key factors driving the demand for Intelligent Traffic Management System market. Improved traffic efficiency enables transportation authorities to respond to emergencies more quickly.
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Intelligent Traffic Management System Market- Competitive Landscape
- In July 2022, Indra, a leading global technology engineering company catering to the aerospace, defense and mobility sectors, has been awarded a contract with Trans Urban in the U.S. to implement its pioneering solution for the automatic scanning and detection of high occupancy vehicles (HOV) in the I-95, I-495, and I-395 express lanes in northern Virginia.
- In April 2022, as part of the InTranSE- II programme, the Indian Ministry of Electronics and Information Technology (MeitY) launched a number of apps under the Intelligent Transportation System (ITS) to enhance the traffic situation in India. The Centre for Development of Advanced Computing (CDAC) and Indian Institute of Technology Madras collaborated to create an indigenous Onboard Driver Assistance and Warning System (ODAWS), Bus Signal Priority System, and Common SMART iot Connectiv (CoSMiC) software (IIT-M). The project’s industrial partner, according to a statement from the government, was Mahindra and Mahindra.
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Key Companies Profiled:
- Quarterhill Inc.
- Q-Free ASA
- IBM Corporation
- Siemens AG
- Dahua Technology Co. Ltd.
- Beijing E-Hualu Information Technology Co. Ltd
- Econolite Control Products, Inc.
- Baumer Holding AG
- Iteris Inc.
- Kyosan Electric Manufacturing Co. Ltd.
Key Segments Covered in the Intelligent Traffic Management System Industry Survey
- 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
- 3D Simulators
- GUI Workstation
- Detectors & Sensors
- Other Components
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Questionnaire answered in the Intelligent Traffic Management System Market report include:
- How the market for Intelligent Traffic Management System has grown?
- What is the present and future outlook of the global Intelligent Traffic Management System on the basis of region?
- What are the challenges and opportunities for the Intelligent Traffic Management System?
- Why the consumption of Intelligent Traffic Management System highest in region?
- In which year segment is expected to overtake segment?
What makes Fact.MR report stand out from others?
- Fact.MR follows a six-point mechanism known as E.V.O.L.V.E. (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.). The report is specially created to assess the COVID-19 impact on the Intelligent Traffic Management System market. This mechanism focuses on almost all the factors in a definite manner to provide the best research report for the market stakeholders.
- Evaluate: A Fact.MR report evaluates every small aspect that can prove to be a growth generator for the Intelligent Traffic Management System market, thus, making it different and special from other reports.
- Visualize: The authors involved in the research activities visualized the post-COVID-19 era so that the key stakeholders of market get an overview and helps them take certain steps to ensure continuous growth during the forecast period.
- Overcome: The report scrutinizes on points that can prove to be an Achilles heel to the Intelligent Traffic Management System market and assists to create strategies to overcome the obstacles that may hinder the growth of the Intelligent Traffic Management System market.
- Leverage: The Intelligent Traffic Management System market can leverage certain aspects that can prove beneficial for the increase in growth rate. Fact.MR covers all the points on which the key stakeholders can leverage upon.
- Verify: Research is done systematically to assure validation of all the aspects covered in the report. All the points are rechecked and verified thoroughly to avoid flaws and fake information.
- Eradicate: Last but not the least, this aspect helps the key stakeholder eradicate all the obstacles that come between the growth rate and the Intelligent Traffic Management System market.
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