Intelligent Traffic Management System Market Report Cover Market Size, Top Manufacturers, Growth Rate, Estimate and Forecast 2021-2029
Intelligent Traffic Management System Market size was valued at USD 9.5 Bn. in 2021 and the total Collaboration Display revenue is expected to grow at CAGR 13% from 2022 to 2029, reaching nearly USD 25.25 Bn.
Intelligent Traffic Management System Market Overview:
The Intelligent Traffic Management System market study gives a complete picture of the competition, including the market share and company profiles of the key competitors in the global industry. The scope of the research includes a thorough investigation of the Intelligent Traffic Management System Market, as well as the reasons for variations in the industry's growth in various locations.
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Top-down and bottom-up approaches are used to validate the market size and to estimate the market size by different segments. The market estimations in the report are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). The percentage splits, market shares, and breakdowns of the segments are derived based on weights assigned to each of the segments on their utilization rate and average sale price. The country-wise splits of the overall market and its sub-segments are based on the percentage adoption or utilization of the given market Size in the respective region or country.
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Segmentation:
by Product Type
1. Integrated Urban Traffic Control System
2. Variable / Dynamic Message Signs
3. Emergency Response Systems
4.Border Control System
5. Electronic Toll Collection System
6. Parking Management System
7. Violation And Measurement Systems
8. Tunnel Management System
9. Freeway Management System
by Components
1. Traffic Controllers And Signals
2. Surveillance Cameras
3. Video Walls
4. Server
5. 3D Simulators
6. GUI Workstation
7. Detectors & Sensors
8. Other Components
The Surveillance Cameras sector, by Components, is anticipated to expand quickly throughout the projected period. To enhance traffic management and commuter experiences in urban planning, smart traffic systems rely on communication and information technologies. Smart traffic systems with built-in cameras provide real-time traffic information and aid in enhancing traffic flow. To create a smart city, the transport sector is essential.
by Spender Type
1. Infrastructure Enterprises & Ppps
2. Federal And Provincial Government
3. Industries & Commercial Enterprise
The Industries & Commercial Enterprise category, which accounted for the biggest market share by Spender Type in 2021 at approximately xx%, is anticipated to maintain its dominance at the conclusion of the forecast period. The market for this category is being driven by elements that promote segment growth due to better mobility on traffic-controlled highways, resulting in less crowding and saving passengers time and gas. Population expansion around the world has caused a huge demand for smart city initiatives. The market for intelligent traffic management systems is always expanding and developing, and commercial enterprises (CEs) are essential to this process.
Key Players in the Intelligent Traffic Management System Market are:
1. Cubic Corporation
2. SNC-Lavalin Group (Atkins)
3. Thales Group
4. International Business Machines Corporation
5. General Electric Company
6. Siemens AG
7. Kapsch TrafficCom
8. TomTom International BV
9. Q-Free ASA
10. TransCore
11. IBM Corporation
12. Dahua Technology Co., Ltd.
13. Beijing E-Hualu Information Technology Co., Ltd.
14. Econolite Control Products, Inc.
15. Baumer Holding AG.
16. Iteris Inc. (U.S.)
17. Quarterhill Inc. (Canada)
18. Fujitsu
19. Imtech
20. SWARCO
Regional Analysis:
Individual market influencing elements and changes in market laws that influence present and future market trends are also included in the geographical overview of the Intelligent Traffic Management System market study. Current and future trends are examined in order to assess the entire market potential and uncover profitable trends in order to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
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COVID-19 Impact Analysis on Intelligent Traffic Management System Market:
Due to a break in operations, end-user sectors where Intelligent Traffic Management System are used had a decline in growth from January to May in various countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. This resulted in a large drop in the revenues of firms operating in these industries and, as a consequence, in demand for Intelligent Traffic Management System manufacturers, affecting the development of the Intelligent Traffic Management System market in 2020. End-user business demand for Intelligent Traffic Management System has dropped considerably as a result of lockdowns and a rise in COVID-19 incidents throughout the world.
Key Questions Answered in the Intelligent Traffic Management System Market Report are:
- Which segment had the largest share in the Intelligent Traffic Management System market in 2021?
- What is the competitive landscape of the Intelligent Traffic Management System market?
- Which are the key drivers aiding the Intelligent Traffic Management System market growth?
- Which region has the maximum share in the Intelligent Traffic Management System market?
- What will be the CAGR of the Intelligent Traffic Management System market during the forecast period (2022-2027)?
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