Intelligent Traffic Management System is Expected to Reach 25.26 Billion by 2029 Says Maximize Market Research

December 05 18:40 2022
Intelligent Traffic Management System is Expected to Reach 25.26 Billion by 2029 Says Maximize Market Research
Intelligent Traffic Management System Market
Intelligent Traffic Management System Market size was valued at USD 9.50 Mn. in 2021 and the total Collaboration Display revenue is expected to grow at CAGR 13% from 2022 to 2029, reaching nearly USD 25.26 Bn.

Pune 05, Dec, 2022: MMR has published a report on the Intelligent Traffic Management System Market on 28th  November 2022. As per the “Global Intelligent Traffic Management System market report” the total market was 9.50 Mn. in 2021 and is expected to reach 25.26 Bn. by 2029

Intelligent Traffic Management System Market Scope 

The purpose of this study is to offer industry stakeholders a comprehensive analysis of the global Intelligent Traffic Management System Market. The study examines complex data in simplest terms and gives historical and current industry trends, as well as forecasted market size and prospects. The study investigated all aspects of the sector, including a detailed examination of market leaders, followers, and new entrants. The study comprises a PORTER and PESTEL analysis, as well as the possible effects of market microeconomic factors. External and internal factors that are expected to have a positive or negative impact on the sector have been studied, presenting decision-makers with a clear future vision of the industry.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.maximizemarketresearch.com/request-sample/123435 

Intelligent Traffic Management System Market Overview

Intelligent traffic management uses a variety of technologies and data sources to govern or support traffic control based on real-time traffic congestion levels and other variables. As intelligent traffic management enhances safety, reduces congestion, promotes highway efficiency, and improves emergency response and transit system operations while engaging with automobiles on the road, the demand for the Intelligent Traffic Management System (ITMS) is rising. Some intelligent traffic management systems incorporate transit data, such as timetable and on-time performance data for scheduled bus and rail lines, which attracts customers. 

Intelligent Traffic Management System Market Dynamics

Artificial intelligence (AI) is the process of utilizing computers to simulate human intelligence. These activities include “data collecting,” “information manipulation,” and “reasoning,” which is the application of rules to achieve a set of findings and self-improvement. This technology is used in a number of industries, including traffic management systems. Traffic congestion increases as an urban region’s population grow. This congestion is the result of how modern civilization works. For two reasons, the great majority of people in the United States, for example, rely on private automobiles. The majority of Americans, live in low-density regions with few public transportation choices. Second, privately owned vehicles are more comfortable and convenient. Thus, investments in the traffic management market are expected to be driven in the next years by the need to upgrade present transportation infrastructures and the development of ICT systems.

The slow development of the infrastructure sector is restraining market growth. The traffic management system requires a high data speed for real-time data processing. As a result of this demand, the infrastructure required to implement new technology is not developing at the same rate as the technology itself. Because of the high cost of replacing current equipment, significant capital investments are required. Several governments have imposed restrictions on their capacity to invest in road infrastructure.

Intelligent Traffic Management System Market Regional Insights

North America held a significant revenue share of about 30% for Intelligent Traffic Management Systems in 2021 and is expected to dominate the market by the end of the forecast period. The US Department of Transportation (DOT) has made significant investments in ITMS research and development, implementation, and adoption. Adoption is fueled by regional governments’ significant emphasis on developing transportation infrastructure during the predicted period.

Intelligent Traffic Management System Market Segmentation

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

By Components: 

  • Traffic Controllers And Signals
  • Surveillance Cameras
  • Video Walls
  • Server
  • 3D Simulators
  • GUI Workstation
  • Detectors & Sensors
  • Other Components

By Spender Type: 

  • Infrastructure Enterprises & Ppps
  • Federal And Provincial Government
  • Industries & Commercial Enterprise

Intelligent Traffic Management System Market Key Competitors are:

  • 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
  • IBM Corporation
  • Dahua Technology Co., Ltd.
  • Beijing E-Hualu Information Technology Co., Ltd.
  • Econolite Control Products, Inc.
  • Baumer Holding AG.
  • Iteris Inc. (U.S.)
  • Quarterhill Inc. (Canada)
  • Fujitsu
  • Imtech
  • SWARCO

Key questions answered in the Intelligent Traffic Management System Market are: 

  • What is an Intelligent Traffic Management System? 
  • What is the growth rate of the Intelligent Traffic Management System Market over the forecast period? 
  • What is the nature of competition in the Intelligent Traffic Management System industry in developed economies and developing economies? 
  • Who are the key players in the Intelligent Traffic Management System Market?
  • Who are the market leaders in Intelligent Traffic Management Systems in Europe?
  • Who are the market leaders in Intelligent Traffic Management Systems in USA and Canada?
  • Who are the market leaders in Intelligent Traffic Management Systems in India, China, Japan, and South Korea?
  • What are the factors affecting growth in the Intelligent Traffic Management System Market? 
  • Who held the largest market share in the Intelligent Traffic Management System Market? 
  • What are the factors for the growth of the Asia-Pacific region in the Intelligent Traffic Management System Market?

For critical insights on this market, request for methodology here @ https://www.maximizemarketresearch.com/request-sample/123435 

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Product Type, Components, Spender Type, and Region.
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Maximize Market Research is leading research firm, has also published the following reports:

Air traffic control Market– The Air traffic control Market size is expected to reach USD 15.31 Bn. by 2029 at a CAGR of 5.20 percent during the forecast period. Air traffic control systems are in high demand as a means of reducing plane crashes and tragedies, which is propelling the market forward.

Traffic Management Market – The Traffic Management Market size is expected to reach USD 80.19 Bn. by 2029 at a CAGR of 10.8 percent during the forecast period. The growing trend of the software-based system is a key factor to drive the Traffic Management Market.

Motorhome Vehicle Market – The Motorhome Vehicle Market size is expected to reach USD 62.53 Bn. by 2029 at a CAGR of 8.4 percent during the forecast period. The increased vocational activities are increasing demand for motorhome vehicles and driving revenue growth in the motorhome vehicle market during the forecast period. 

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