Global Intelligent Traffic Management System Market (2021-2028) Size, Share & Trend Analysis Report – ResearchAndMarkets.com
DUBLIN – (COMMERCIAL THREAD)–The Analysis report of Intelligent Traffic Management System Market Size, Share and Trend by Solution (Traffic Monitoring System, Traffic Light Control System, Integrated Corridor Management), by Region and Forecast segment, 2021-2028 “ report was added to ResearchAndMarkets.com offer.
The global intelligent traffic management systems market size is expected to reach $ 21.38 billion by 2028, with a CAGR of 11.9% from 2021 to 2028, according to a new study from the publisher.
SNC-Lavalin Group (Atkins)
International Business Machines Corporation
General Electricity Company
TomTom International BV
Aging infrastructure, increasing traffic congestion and the lack of mobility solutions and transport infrastructure are expected to lead to more traffic jams, thus increasing transport costs and affecting people’s daily lives. These factors and the supporting government initiatives to implement smart cities are expected to drive the market growth.
One of the main problems caused by traffic congestion is air pollution. The implementation of smart systems makes it easier to monitor the traffic, 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. Rapid urbanization and population increase in developing countries are expected to influence the demand for smart traffic solutions. In addition, the rapid adoption of the Fourth Industrial Revolution is expected to stimulate the growth of smart cities, subsequently fueling the demand for intelligent traffic management systems.
Road accidents and related deaths are on the increase. To mitigate such incidents, the United Nations Economic Commission for Europe (UNECE) helps manage legal road safety instruments. Various aspects such as road infrastructure, traffic management, road signs and signals are negotiated with member countries and made legally binding. An intelligent traffic management system (ITMS) can potentially help reduce road accidents and improve safety. Several countries including United States and China are aggressively investing in ITMS solutions which should bode well for market growth during the forecast period. For example, the US DOT has aggressively invested in the research and development, adoption and deployment of ITMS across the country.
Highlights of the Intelligent Traffic Management System Market Report
In terms of solutions, the Integrated Corridor Management segment is expected to experience considerable growth during the forecast period. Significant improvements in the efficient movement of goods and people through institutional collaboration and the proactive and aggressive integration of existing infrastructure along major corridors should 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, increasing awareness of intelligent systems, and increasing population are expected to propel the growth of the regional market.
The increase in disposable income is expected to increase the purchase of four-wheeled vehicles during the forecast period. This is expected to further boost the demand for traffic management solutions in the Asia-Pacific region to address traffic congestion issues.
Main topics covered:
Chapter 1 Methodology and 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 Smart Traffic Management System Market Dynamics
3.3.1 Market Driver Analysis
3.3.2 Analysis of market restrictions / challenges
3.3.3 Analysis of market opportunities
3.4 Intelligent Traffic Management System Market – COVID-19 Impact Analysis
3.5 Mapping of penetration and growth prospects
3.6 Market analysis tools
3.6.1 Smart Traffic Management System Industry Analysis – Porter’s Five Forces Analysis
3.6.2 Smart Traffic Management System Industry Analysis – PESTEL Analysis
Chapter 4 Intelligent Traffic Management System Market: Solution Segment Analysis
Chapter 5 Intelligent Traffic Management System Market: Region Segment Analysis
Chapter 6 Competitive Analysis
6.1 Global Major Players, Recent Developments and Their Impact on Industry
6.2 Categorization of companies
6.3 Supplier landscape
6.3.1 Smart Traffic Management System Market: Key Companies Market Rank Analysis, 2020
Chapter 7 Competitive Landscape
For more information on this report, visit https://www.researchandmarkets.com/r/r0y6pw