Global Intelligent Traffic Management System Market

Global Intelligent Traffic Management System Market Size, Share, Growth Analysis, By Solution(Traffic Monitoring System, Traffic Enforcement Cameras), By Components(Surveillance Cameras, Video Walls) - Industry Forecast 2024-2031

Report ID: SQMIG45F2097 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 65 | Figures: 75

Global Intelligent Traffic Management System Market News

  • In November 2020, Siemens partnered with ASFiNAG, the operating unit of the Australian highway network. Under this partnership, Siemens would offer an intelligent traffic management system technology to ensure more better and secure transmission of safety information between roads and vehicles.
  • In January 2021, Dahua Technology, a leading video-centric smart IoT solution and service provider launched: WizSense/WizMind series which aims on the AI value transmission; HDCVI 6.0 Plus that offers continued advancement in over-coax technology, and Full-color 2.0 which provides excellent performance under extreme low light conditions.
$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Intelligent Traffic Management System Market size was valued at USD 11 billion in 2019 and is poised to grow from USD 13.21 billion in 2023 to USD 27.92 billion by 2031, growing at a CAGR of 13.8% in the forecast period (2024-2031).

Global intelligent traffic management system marketis highly fragmented with the presence of several big players across the globe such as Cubic Corporation, Thales Group, General Electric Company. Product innovations, mergers, acquisitions, partnerships, and adoption are some of the major key strategies opting by several key players. For instance, in June 2021, Cubic Transportation systems, a subsidiary of Cubic Corporation, came into a partnership with CVEDIA, an artificial intelligence service provider. 'Siemens AG', 'Thales Group', 'Kapsch TrafficCom AG', 'Cubic Corporation', 'SWARCO AG', 'FLIR Systems, Inc.', 'Iteris, Inc.', 'TransCore LP', 'Q-Free ASA', 'EFKON GmbH', 'Cisco Systems, Inc.', 'Huawei Technologies Co., Ltd.', 'Indra Sistemas, S.A.', 'TomTom International B.V.', 'Garmin Ltd.', 'IBM Corporation', 'Intel Corporation', 'Xerox Corporation', 'Accenture plc', 'PTV Group GmbH'

Increasing propitious government initiatives by several government bodies across the globe to enhance road safety and boost operational performance of intelligent traffic management system. With the continuously increasing focus on smart cities, government are framing several strategies to achieve their mission through the deployment of smart systems. Nations such as U.S., Japan, and Dubai are heavily investing in various projects of intelligent traffic management as the implementation of these projects requires larger funds.

The intelligent traffic management system ensures traffic flow, road safety, and mobility. Further, these solutions also provide real time data for the immediate response on emergencies and analysis of the information of passengers and drivers at higher accuracy. Several countries across the world are putting their efforts to develop intelligent traffic management infrastructure in order to reduce road congestion and ensures more safety. All these factors are likely to boost the growth of the global intelligent traffic management system over the forecast period.

North America dominated the global intelligent traffic management system market with more than 34% of revenue share in 2021 and is anticipated to maintain its dominance throughout the forecast period owing to heavily investing in R&D, adoption of intelligent traffic management system, and implementation. Advancements in technology and tackling vehicular congestion for improving efficiency through real time insights are anticipating the revolution in traffic management system in the region.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

Click here right-arrow
logo-images

Related Reports

Global Intelligent Traffic Management System Market

Report ID: UCMIG45F2073 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: Figures:

Hybrid Integration Market
Buy Now GET FREE SAMPLE
Global Intelligent Traffic Management System Market

Report ID: SQMIG45F2126 | Region: Global | Published Date: February, 2024 | Pages: 251 | Tables: 92 | Figures: 76

Global Intelligent Building Automation Technologies Market
Buy Now GET FREE SAMPLE
Global Intelligent Traffic Management System Market

Report ID: UCMIG45F2019 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: Figures:

Audit Software Market
Buy Now GET FREE SAMPLE
Global Intelligent Traffic Management System Market

Report ID: UCMIG45F2049 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: Figures:

Cross-border B2C E-commerce Market
Buy Now GET FREE SAMPLE

Feedback From Our Clients

Global Intelligent Traffic Management System Market

Product ID: SQMIG45F2097

$5,300
BUY NOW GET FREE SAMPLE