Intelligent Traffic Management System Market Report 2022: Efficiency Improvements in Adoption of Mobility and Road Transport Driving – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The report “Analysis of Intelligent Traffic Management System Market Size, Share and Trends by Solution (Integrated Corridor Management, Traffic Light Control System), by Region and Segment Forecast, 2022-2030” has been added to from ResearchAndMarkets.com offer.
The global intelligent traffic management systems market size is projected to reach USD 27.92 billion by 2030 and grow at a significant CAGR of 13.1% from 2022 to 2030. road transportation, need to reshape transportation networks due to increasing urban population and rapid industrialization are some of the factors expected to boost the market growth.
These systems reduce congestion, eliminate delays and send accurate information to commuters and traffic planners. Additionally, government initiatives to implement smart cities with improved road networks are expected to have a positive impact on growth.
Road congestion is one of the main causes of air pollution. The implementation of intelligent traffic systems facilitates traffic monitoring, thereby reducing harmful emissions, which is expected to have a positive impact on the growth of the market. With the growing development of smart cities, rapid urbanization and increasing population in developing countries, the demand for smart traffic solutions is expected to grow exponentially.
Moreover, the rapid adoption of the fourth industrial revolution is expected to drive the growth of smart cities, subsequently fueling the demand for intelligent traffic management systems.
However, the lack of standards and technological uniformity and security issues associated with traffic management systems are expected to negatively impact the growth of the market.
To mitigate these incidents, the United Nations Economic Commission for Europe (UNECE) contributes to the management of road safety legal instruments. Various aspects such as road infrastructure, traffic management, road signs and signals are negotiated with member countries and made legally binding. A market for intelligent traffic management systems (ITMS) has the potential to help reduce road accidents and improve safety. Several countries including the United States and China are investing heavily in ITMS solutions, which is expected to bode well for the growth of the market over the forecast period.
Intelligent Traffic Management System Market Report Highlights
The integrated corridor management segment is expected to witness a considerable CAGR of 13.9% during the forecast period. The market is gradually adopting advanced technologies that integrate and coordinate traffic flows. Additionally, through institutional collaboration and proactive and aggressive integration of existing infrastructure along major corridors, multiple people are expected to help manage the integrated corridors and improve traffic management.
The traffic light control system segment is expected to register a considerable CAGR during the forecast period. Availability of highly reliable and inexpensive sensors, data storage facilities, and computing and networking infrastructure are some of the factors expected to fuel the growth of the segment in the coming years.
Asia-Pacific is expected to grow at a CAGR of 16.9% from 2022 to 2030, driven by rapid urbanization, growing awareness of smart systems, and population growth. Rising disposable income in countries like China, Japan, and India is expected to increase the purchase of four-wheelers. This is expected to drive demand for traffic management solutions to address traffic congestion issues
Main topics covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Intelligent Traffic Management System Industry Outlook
Chapter 4 Solution Outlook of Intelligent Traffic Management System
Chapter 5 Regional Outlook of Intelligent Traffic Management System
Chapter 6 Competitive Analysis
Chapter 7 Competitive Landscape
SNC-Lavalin Group (Atkins)
International Commercial Machinery Society
General electricity company
TomTom International B.V.
ASA without Q
For more information about this report visit https://www.researchandmarkets.com/r/8aqmyi