Dublin, Oct. 11, 2021 (GLOBE NEWSWIRE) -- The "Intelligent Traffic Management System Market Size, Share & Trends Analysis Report By Solution (Traffic Monitoring System, Traffic Signal Control System, Integrated Corridor Management), By Region, And Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The global intelligent traffic management system market size is expected to reach USD 21.38 billion by 2028, expanding at a CAGR of 11.9% from 2021 to 2028, according to a new study by the publisher An aging infrastructure, the rising traffic congestion, and the lack of mobility solutions and transportation infrastructure are expected to further lead to traffic congestion, thereby adding to the transportation costs and affecting the everyday life of people. These factors and supportive government initiatives to implement smart cities are anticipated to drive the growth of the market.
One of the key issues caused by road congestion is air pollution. The implementation of intelligent systems makes traffic monitoring easy, thereby reducing harmful emissions, which is expected to positively impact the growth of the market. An intelligent traffic management system is one of the integral parts of a smart city. The rapid urbanization and the increasing population in developing countries are expected to influence the demand for intelligent traffic solutions. Additionally, the rapid adoption of the fourth industrial revolution is anticipated to boost the growth of smart cities, subsequently fueling the demand for intelligent traffic management systems.
Road accidents and the fatalities stemming from them are increasing. To mitigate such incidents, the United Nations Economic Commission for Europe (UNECE) is helping in managing road safety legal instruments. Various aspects such as road infrastructure, traffic management, road signs, and signals are negotiated with the member countries and made legally binding. An intelligent traffic management system (ITMS) can potentially help in reducing road accidents and enhancing safety. Several countries, including the U.S. and China, are investing aggressively in ITMS solutions, which is expected to bode well for the growth of the market over the forecast period. For instance, the U.S. DOT has been investing aggressively in the research and development, adoption, and deployment of ITMS across the country.
Intelligent Traffic Management System Market Report Highlights
- In terms of solutions, the integrated corridor management segment is anticipated to witness considerable growth over the forecast period. Significant improvements in the effective movement of goods and people through institutional collaboration and proactive and aggressive integration of the existing infrastructure along major corridors are expected to help manage integrated corridors and improve traffic management
- In terms of region, the Asia Pacific regional market is expected to register a significant CAGR from 2021 to 2028. Rapid urbanization, rising awareness regarding intelligent systems, and increasing population are anticipated to propel the regional market growth
- The rise in disposable income is expected to increase the purchase of four-wheelers over the forecast period. This is expected to further propel the demand for traffic management solutions in the Asia Pacific region to resolve traffic congestion problems
Key Topics Covered:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Intelligent Traffic Management System Market: Industry Outlook
3.1 Market Segmentation
3.2 Value Chain Analysis
3.3 Intelligent Traffic Management System Market Dynamics
3.3.1 Market Driver Analysis
3.3.2 Market Restraint/Challenge Analysis
3.3.3 Market Opportunity Analysis
3.4 Intelligent Traffic Management System Market - COVID-19 Impact Analysis
3.5 Penetration & Growth Prospect Mapping
3.6 Market Analysis Tools
3.6.1 Intelligent Traffic Management System Industry Analysis - Porter's five forces analysis
3.6.2 Intelligent Traffic Management System Industry Analysis - PESTEL analysis
Chapter 4 Intelligent Traffic Management System Market: Solution Segment Analysis
4.1 Intelligent Traffic Management System Market: By Solution Segment Outlook & Market Share 2020 and 2028
4.2 Traffic Monitoring System
4.2.1 Intelligent Traffic Monitoring System Market, By Region, 2018 - 2028 (USD Million)
4.3 Traffic Signal Control System
4.3.1 Intelligent Traffic Signal Control System Market, By Region, 2018 - 2028 (USD Million)
4.4 Traffic Enforcement Camera
4.4.1 Intelligent Traffic Enforcement Camera Market, By Region, 2018 - 2028 (USD Million)
4.5 Integrated Corridor Management
4.5.1 Intelligent Integrated Corridor Management Market, By Region, 2018 - 2028 (USD Million)
4.6 Intelligent Driver Information System
4.6.1 Intelligent Driver Information System Market, By Region, 2018 - 2028 (USD Million)
4.7 Others
4.7.1 Other Intelligent Traffic Management System Market, By Region, 2018 - 2028 (USD Million)
Chapter 5 Intelligent Traffic Management System Market: Region Segment Analysis
Chapter 6 Competitive Analysis
6.1 Key Global Players, Recent Developments & Their Impact on the Industry
6.2 Company Categorization
6.3 Vendor Landscape
6.3.1 Intelligent Traffic Management System Market: Key Company Market Ranking Analysis, 2020
Chapter 7 Competitive Landscape
7.1 Cubic Corporation
7.1.1 Company overview
7.1.2 Financial performance
7.1.3 Product benchmarking
7.1.4 Strategic initiatives
7.2 SNC-Lavalin Group (Atkins)
7.2.1 Company overview
7.2.2 Financial performance
7.2.3 Product benchmarking
7.2.4 Strategic initiatives
7.3 Thales Group
7.3.1 Company overview
7.3.2 Financial performance
7.3.3 Product benchmarking
7.3.4 Strategic initiatives
7.4 International Business Machines Corporation
7.4.1 Company overview
7.4.2 Financial performance
7.4.3 Product benchmarking
7.4.4 Strategic initiatives
7.5 General Electric Company
7.5.1 Company overview
7.5.2 Financial performance
7.5.3 Product benchmarking
7.5.4 Strategic initiatives
7.6 Siemens AG
7.6.1 Company overview
7.6.2 Financial performance
7.6.3 Product benchmarking
7.6.4 Strategic initiatives
7.7 Kapsch TrafficCom
7.7.1 Company overview
7.7.2 Financial performance
7.7.3 Product benchmarking
7.7.4 Strategic initiatives
7.8 TomTom International BV
7.8.1 Company overview
7.8.2 Financial performance
7.8.3 Product benchmarking
7.8.4 Strategic initiatives
7.9 Q-Free ASA
7.9.1 Company overview
7.9.2 Financial performance
7.9.3 Product benchmarking
7.9.4 Strategic initiatives
7.10 TransCore
7.10.1 Company overview
7.10.2 Financial performance
7.10.3 Product benchmarking
7.10.4 Strategic initiatives
For more information about this report visit https://www.researchandmarkets.com/r/smakm3
