Intelligent Traffic Management System Market size worth $ 19.91 Billion, Globally, by 2028 at 10.1% CAGR: Verified Market Research®

JERSEY CITY, N.J., Nov. 25, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Intelligent Traffic Management System Market" By Solution (Traffic Monitoring System, Traffic Signal Control System, Traffic Enforcement Cameras), By Spender Type (Infrastructure Enterprises & PPPs, Federal & Provincial Government, Industries & Commercial Enterprise), By Components (Traffic Controllers & Signals, Surveillance Cameras, Video Walls), and By Geography. According to Verified Market Research, the Global Intelligent Traffic Management System Market size was valued at USD 9.22 Billion in 2020 and is projected to reach USD 19.91 Billion by 2028, growing at a CAGR of 10.1% from 2021 to 2028.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=197495

Browse in-depth TOC on "Intelligent Traffic Management System Market"
202 - Pages
126 – Tables
37 – Figures

Global Intelligent Traffic Management System Market Overview

An improvement in the adoption of intelligent traffic management systems globally can be credited to their capacity to improve efficiency in different situations including mobility and road transport. An excessive need to reshape transportation networks, particularly in emerging economies due to burgeoning urban population and speedy industrialization, is assumed to be highly impactful on the growth of the Intelligent Traffic Management System Market. These systems help decrease eliminate delays, traffic congestion, and convey accurate information to commuters as well as traffic planners at the precise time. Such benefits have led to a surge in the demand for effective traffic management systems which will probably fuel the market growth.

The market is expected to gain immense traction, underpinned by rising concerns regarding increasing accidents along with air pollution caused by vehicles that decrease the visibility of roads and other transport networks. An increase in the construction of expressways to develop interstate transportation is anticipated to bode well with the global development of the Intelligent Traffic Management System Market. Furthermore, government initiatives for infrastructural development aligned with developing road networks are anticipated to display favourably on the growth of the global Intelligent Traffic Management System Market.

There are certain fallbacks and restrictions faced that will confine the overall market growth. The factors such as the dearth of skilled professionals in governments to achieve the right combination of solutions for smart traffic management inhibits the growth of the Intelligent Traffic Management System Market. Further, governments elect third-party service providers to guide the implementation process of smart solutions in traffic that sums to the overall cost of the project. This, in turn, is expected to hinder the Intelligent Traffic Management System Market. Nevertheless, the advancements in technologies, increasing government initiatives for smart cities in China and India, and untapped potential in emerging markets offer lucrative growth opportunities during the forecast period.

More on EntSun News

• 84 Ethiopian Churches Change Signboards to Shincheonji Church of Jesus
• BTXSGG Outlines Four-Pillar Framework to Enhance Digital Asset Security and Compliance
• NJTRX Positions for Next-Generation Asset Trading with U.S. Regulatory Framework
• Sci-Fi Author Don Viecelli Introduces Alien Times - Book 3, Retribution
• Freedom Flourishes in Dutch Capital on Destination: Scientology, Amsterdam

Key Developments

• July, 2021, Siemens announced the rebranding of its Intelligent Traffic Systems (ITS) business into a new company as Yunex Traffic. The drive for machine learning, 5G and cloud computing as part of the smart city is leading the company to need to have more independence as Yunex Traffic. The company, which provides adaptive traffic control and management, highway and tunnel automation, and smart solutions for V2X and toll systems, generates annual revenue of over USD 700.28 million and is growing at an annual rate of 8%.

Key Players

The major players in the market are Cubic, SWARCO, Siemens, THALES, IBM, Fujitsu, Q-Free, Imtech, SICE, and Iteris.

Verified Market Research has segmented the Global Intelligent Traffic Management System Market On the basis of Solution, Spender Type, Components, and Geography.

• Intelligent Traffic Management System Market, By Solution
• Traffic Monitoring System
• Traffic Signal Control System
• Traffic Enforcement Cameras
• Integrated Corridor Management
• Intelligent Driver Information System
• Other
• Intelligent Traffic Management System Market, By Spender Type
• Infrastructure Enterprises & PPPs
• Federal and Provincial Government
• Industries & Commercial Enterprise
• Intelligent Traffic Management System Market, By Components
• Traffic Controllers and Signals
• Surveillance Cameras
• Video Walls
• Detectors & Sensors
• 3D Simulators
• Others
• Intelligent Traffic Management System Market by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

Browse Related Reports:

Railway Management System Market By Solution (Rail Operations Management System, Rail Traffic Management System, Rail Asset Management System), By Service (Consulting, System Integration and Deployment, Support and Maintenance), By Geography, Forecast, 2021-2028

Network Traffic Analyzer Market By Component (Solutions and Services), By Deployment Mode (Physical, Cloud, Virtual), By End User (Telecom Operators, Banking, Financial Services, and Insurance, Media and Entertainment, Internet Service Providers and Cable Operators, Others), By Geography, Forecast, 2021-2028

Integrated Traffic System Market By Hardware (Display Boards, Interface Boards, Radars, Sensors, Smart Traffic Lights, Surveillance Cameras, and Others), By Function (Traffic Monitoring, Traffic Control, and Information Provision), By Geography, Forecast, 2021-2028

More on EntSun News

• Poncho Tha Popstar: The West's Next King
• Physician-Turned-Patient Launches Advocacy Campaign to Spotlight Disability Insurance Barriers
• Thorn Ridge® Creates a World of Legends & Lore
• Screenwriting Cruise Adds Howard Suber, Ph.D., to Inaugural 7-Day Screenwriting Lab at Sea
• Wacky Wednesday's Midweek Mayhem & Madness Ignites Delirious Comedy Club with Explosive Laughs!

Integrated Traffic System Market By Hardware (Display Boards, Interface Boards, Radars, Sensors, Smart Traffic Lights, Surveillance Cameras, and Others), By Function (Traffic Monitoring, Traffic Control, and Information Provision), By Geography, Forecast, 2021-2028

Leading Integrated Traffic Systems stopping road rage and major accidents

Visualize Intelligent Traffic Management System Market using Verified Market Intelligence:-:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.

Contact Us
Mr. Edwyne Fernandes
Verified Market Research®
US: +1 (650)-781-4080
UK: +44 (753)-715-0008
APAC: +61 (488)-85-9400
US Toll Free: +1 (800)-782-1768
Email: [email protected]
Web: https://www.verifiedmarketresearch.com/
Follow Us: LinkedIn | Twitter

SOURCE Verified Market Research

---

Show All News | Report Violation