Global Intelligent Traffic Management System Market Size, Share & Trends Analysis Report, By Solution (Traffic Monitoring System, Traffic Signal Control System), By Region (North America, Europe, APAC, and Others), and Segment Forecasts, 2024 – 2032
  • Published Date: Jan, 2024
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  • Pages: 200
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  • Report Summary
  • Table of Contents
  • Segmentation
  • Methodology
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Global Intelligent Traffic Management System Market was valued at US $ 9.4 Billion in 2023 and is expected to reach US $ 22.0 Billion by 2032 growing at a CAGR of 11.20 % during the forecast period 2024 – 2032.

The market expansion can be put down to the rising demand for current traffic information among both car drivers and passengers, combined with the growing vehicle fleet on your everyday roads. Furthermore, insufficient infrastructure and governmental attempts to ease traffic flow remain substantial growth forces.

The intelligent traffic management system industry has been substantially affected by the outbreak of COVID-19, with sales dropping sharply and installations grinding to a complete halt in some places. At the same time, existing ITMS installations around the world are being used in an efficient manner to maintain demand.

However, despite the outbreak of the pandemic, Business Monitor International foresees that market growth will be more erratic. The general trend for this year furthermore points to significant expansion throughout the latter months of 2022. It is unlikely that would be a complete rejection of demand, but some projects will surely suffer setbacks and changes across different product categories. As traffic efficiency is upgraded, the intelligent traffic management system market grows along with it in this period of forecast. The incumbent ITMS market players will therefore be able to enjoy the spoils in this post-pandemic era.

An intelligent traffic management system guarantees circulation, road safety and mobility. One significant factor driving the need for intelligent traffic management system is the development of smart city infrastructure. Improved traffic efficiency makes it possible for emergency transportation authorities to respond quickly. In addition, in terms of smart city development, greater reliance on public transportation can help reduce carbon dioxide emissions and airborne pollutants. Moreover, such traffic management solutions provide real-time information allowing for rapid analysis and response in acute situations. These advantages provided by ITMS will add to the expansion of the market over this time frame.

The Intelligent Traffic Management System Market Trend Analysis

As public dissatisfaction over traffic congestion grows, the market expands.

CAGR is being propelled further, however, by the increasing recognition of just how crucial cutting traffic congestion really is. In all the various cities around the world where urbanization is taking place, traffic congestion will undoubtedly become worse. Accelerated urbanization, particularly in India's developing economy, has caused large-scale migration from rural to urban areas. As a result, the suburban population density has grown faster than infrastructure in tune with urbanization. It is estimated that with the exponential growth in population and urban areas, together with chaotic agglomerations and ever greater ownership of private cars will result quantum changes for embalmed transportation profound enough to present severe problems for future generations.

As road infrastructure enters an age of aging, traffic congestion becomes increasingly serious and existing methods of transportation and mobility are stressed to the extreme. This will result in greater congestion and bottlenecks as well as rising transport costs-not only making life more difficult for people but also impacting their quality of life. An ITS can make a major contribution to real-time gathering of traffic information and alleviating congestion. In the planned time-frame, advances in information and communication technology, Radio Frequency Identification (RFID) tools, microchips could help to improve technological capabilities while beacon--sensing technologies push IT Management Systems (ITSD).

Also, many efforts are afoot to promote road safety activities and sophisticated traffic control systems. These activities are expected to raise the demand for V2V and V2I communications. In developed economies, such as Europe and North America, both Driver assistance systems and Electronic Stability Control (SC) systems are required for all vehicles. These kinds of legislation should raise future demand for ITS solutions.

Segmentation Analysis of the Intelligent Traffic Management System Market

By Solution

The segment constituting traffic monitoring systems had a market share of 21.7 % in the year 2023. Inadequate traffic signals may add several minutes to travel times and create congestion. This includes government-initiated traffic infrastructure development as well as the growing smart city projects, along with an expanding adaptive intelligent traffic controls and analytics. Furthermore, rising vehicle pollution and traffic congestion have speeded up the need for Mobility as a Service (MaaS), which is expected to further propel market growth over the forecast period.

The traffic signal control system segment is expected to witness an impressive 14.0 % CAGR during the forecast period as inexpensive and highly reliable sensors become available along with computing & networking infrastructure at low prices. There is particularly encouraging news in that governments and enterprises from around the world, as they shift to intelligent transportation systems designed to complement smart city s ’ transport networks.

Smart cities around the world are actively investigating various methods of relieving traffic congestion, such as employing intelligent building management systems and developing signals control system. More importantly, the intelligent traffic management system provides a platform for an enormous variety of smart city applications such as eco-driving and Emergency Vehicle Signal Preemption (EVSP), which is to say that emergency vehicles are able priority access through signals at intersections. The benefits described earlier are expected to continue supporting the development of this segment over the forecast period.

Regional Analysis of the Intelligent Traffic Management System Market

In 2022, North America accounted for a 38.0 % share of the global intelligent traffic management system market. All across America, the Department of Transportation (DOT) for United States has invested major sums in intelligent traffic management system R & D and implementation as well. In this region, several governmental initiatives in the area are very much concerned with improving transportation infrastructure. Transportation planning and operations have had a considerable impact on part of implementing an intelligent traffic management system.

Developments in communication technologies are expected to result in a reshaping of the regional transport infrastructure, reducing vehicular congestion while improving provision and efficiency of modal capacity through real-time exchange. Moreover, as the popularity of mobile and radio devices with dedicated short-range technology increases around this region's motorists enable themselves to become ITMS users throughout that forecast time period.

The Asia Pacific region is expected to have a big CAGR over the period of forecast (17.5 %). According to the world population prospects 2018 report just published by the United Nations (UN), Asia's population in 2050 is expected to total .64 percent of people living in urban areas, an increase from its figure today! In response to the reduced land-carrying capacity in this area, regional governments are forcefully emphasizing improving physical infrastructure as a whole. An important aspect of the physical structure is transportation.

Looking at some key countries, such as China, Japan and South Korea we can predict that these will lead the ITMS market with significant growth in demand for intelligent traffic management systems. Also, the efforts of governmental agencies in the area are expected to bring about further market growth. For example, the Onboard Driver Assistance Warning System (ODWAS), a bus signal priority system introduced by the Indian government in April 2022. What the system does is to install onboard sensors so as to monitor how much attention the driver pays toward surroundings, then sends out visual warnings. Components of the system include a driver assistance console, navigational control and radar sensor.

Top Key Players

  • 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
  • Intelli

Key Industry Developments in the Intelligent Traffic Management System Market

  • In June 2021, Kapsch TrafficCom was able to win a contract with one of the Plenary construction firms involved. The purpose of this contract along the Louisiana Highway was to set up a toll collection infrastructure. Nonetheless, the Louisiana Transportation Department would apply and develop these technologies to provide motorists from around Louisiana with modern facilities and operational excellence that will make even greater travel destinations.
  • On June 1, Cubic Transportation Systems (CTS), a subsidiary of the international security and innovation company Cubic Corporation; and CVEDIA Inc., an artificial intelligence solution provider, will begin operations. Pursuant to this agreement, CVEDIA will provide news industry information for GRIDSMART products of Cubic Corporation with the goal being transportation network technology advancement and deep neural networks in its omnidirectional sensors.

Report Components Details
Base Year 2023
Forecast Period 2024 - 2032
Quantitative Units Revenue in US $
Segments Covered By Solution: Traffic Monitoring System, Traffic Signal Control System, Traffic Enforcement Camera, Integrated Corridor Management, Intelligent Driver Information System, Others
Countries Covered U.S. and Canada in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the APAC, Others include Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA), Brazil, Argentina, Mexico, and Rest of South America as part of South America
Market Players Covered 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

Table of Contents

  1. Introduction Of Global Intelligent Traffic Management System Market
    1. Overview of the Market
    2. Scope of Report
    3. Assumptions
  2. Executive Summary
  3. Research Methodology
    1. Data Mining
    2. Validation
    3. Primary Interviews
    4. List of Data Sources
  4. Global Intelligent Traffic Management System Market Outlook
    1. Overview
    2. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
    3. Porters Five Force Model
      1. Bargaining Power of Suppliers
      2. Threat of New Entrants
      3. Threat of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power among Buyers
    4. Value Chain Analysis
  5. Global Intelligent Traffic Management System Market, By Solution
    1. Overview
    2. Traffic Monitoring System
    3. Traffic Signal Control System
    4. Traffic Enforcement Camera
    5. Integrated Corridor Management
    6. Intelligent Driver Information System
    7. Others
  6. Global Intelligent Traffic Management System Market, By Region
    1. North America
      1. U.S.
      2. Canada
    2. Europe
      1. Germany
      2. U.K.
      3. France
      4. Rest of Europe
    3. Asia Pacific
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Singapore
      6. Malaysia
      7. Australia
      8. Thailand
      9. Indonesia
      10. Philippines
      11. Rest of Asia Pacific
    4. Others
      1. Saudi Arabia
      2. U.A.E.
      3. South Africa
      4. Egypt
      5. Israel
      6. Rest of Middle East and Africa (MEA)
      7. Brazil
      8. Argentina
      9. Mexico
      10. Rest of South America
  7. Company Profiles
    1. Cubic Corporation
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    2. SNC-Lavalin Group (Atkins)
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    3. Thales Group
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    4. International Business Machines Corporation
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    5. General Electric Company
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    6. Siemens AG
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    7. Kapsch TrafficCom
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    8. TomTom International BV
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    9. Q-Free ASA
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    10. TransCore
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News

Global Intelligent Traffic Management System Market Segmentation

Intelligent Traffic Management System by Solution: Market Size & Forecast 2024-2032

  • Traffic Monitoring System
  • Traffic Signal Control System
  • Traffic Enforcement Camera
  • Integrated Corridor Management
  • Intelligent Driver Information System
  • Others

Intelligent Traffic Management System by Geography: Market Size & Forecast 2024-2032

  • North America (USA, Canada, Mexico)
  • Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
  • South America (Brazil, Argentina, Columbia, Rest of South America)
  • Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Major Players:

  • 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

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