Intelligent Traffic Management Systems Market To Reach Revenue Of US $ 31,692 Million By 2031
The study provides the dynamics responsible for influencing the future state of the Intelligent Traffic Management Systems market over the forecast period.
ROCKVILLE, MARYLAND, UNITED STATES, December 13, 2021 /EINPresswire.com/ – A recent study by Fact.MR on the intelligent traffic management system proposes a 10-year forecast for 2021 to 2031. The study analyzes the crucial trends that are currently determining the market growth Intelligent Traffic Management System. This report explains the vital dynamics, such as drivers, restraints, and opportunities for major market players as well as key stakeholders along with new developments associated with offering intelligent traffic management systems.
Intelligent traffic management systems have dramatically revolutionized the way road traffic is handled. Fact.MR recently released a report on the market forecasting a valuation of $ 17.75 billion by the end of 2021. By the end of the 2021-2031 valuation period, the market is expected to reach $ 34 billion. US dollars, registering a CAGR of 6.7%. The demand for integrated city traffic control will increase the most, at a CAGR of 7%.
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Key segments covered
type of product
Integrated urban traffic control system
Variable / dynamic message signs
Emergency response systems
Border control system
Electronic toll collection system
Parking management system
Violation and measurement systems
Tunnel management system
Highway management system
Type of expense
Infrastructure companies and PPP
Federal and provincial government
Industries & Commercial Enterprise
Traffic controllers and signals
Graphical interface workstation
Detectors and sensors
The Intelligent Traffic Management System market study offers a comprehensive analysis of various functionalities, including the analysis of Intelligent Traffic Management System production capacity, demand, product developments, revenue generation, and the size of the intelligent traffic management system market across the world.
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Leading players are adopting innovative approaches such as revolutionary marketing tactics, technological advancements, mergers and acquisitions to expand their market.
In January 2021, Dahua Technology, one of the world’s leading providers of video-centric intelligent IoT solutions and services, launched: the WizSense / WizMind series which focuses on driving the value of AI; HDCVI 6.0 Plus which offers continuous advancements in over-coax technology, and Full-color 2.0 which offers excellent performance in ultra low light conditions, leading innovation towards an AIoT future.
During the same period, Q-Free ASA launched Kinetic Signals to manage traffic lights centrally. Kinetic Signals includes a comprehensive intersection editor, interactive reports, built-in ATSPMs, and a detail-rich database management system to effectively control and monitor traffic signals in real time in cities, states and regions .
Some notable offerings from the Fact.MR report in the Intelligent Traffic Management Systems Market:
MR will provide you with an analysis of the extent to which this Intelligent Traffic Management System market research report acquires business characteristics along with examples or instances of information that helps you to understand it better.
MR will also help identify usual / standard terms and conditions, such as offers, value, warranty and others.
In addition, this report will help you identify trends to forecast growth rates.
The analyzed report will forecast the general trend of supply and demand.
Some of the insights and estimates of the Intelligent Traffic Management System Market that makes this study unique in approach and effective in guiding stakeholders in understanding growth dynamics. The study provides:
Details regarding the latest innovations and developments in intelligent traffic management system and how it is gaining popularity with customers during the forecast period.
Analysis of customer demand for products and how it is likely to evolve in the years to come.
Latest regulations enforced by government bodies and local agencies and their impact on the market demand for intelligent traffic management systems.
Information on the adoption of new technologies and its influence on the market size of the Intelligent Traffic Management System.
Overview of the impact of COVID-19 on the intelligent traffic management systems market and the economic disruption caused by the pandemic.
Assesses the post-pandemic impact on intelligent traffic management systems market sales during the forecast period.
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What is driving sales of intelligent traffic management systems in the United States?
With revolutionary innovations in the ICT sector, North America is expected to remain the most attractive market for intelligent traffic management systems, while the United States accounts for a relatively high share of revenue in the region.
The US Department of Transportation’s Advanced Transportation and Congestion Management Technology Deployment Initiative has proven to be an important step in helping operators of public transportation systems. Growing adoption of cloud computing and data analytics for smart parking solutions and Collision Avoidance in the Country has added a new chapter for the expansion of the intelligent traffic management systems market in the United States
Increase vehicle ownership to encourage adoption of ITM systems?
The population of road vehicles continues to increase, in particular passenger vehicles, which is expected to reach the $ 2 billion mark by the end of 2040. Booming government initiatives for infrastructure development and improved road networks will not only save time, but also hard money. gained commuters around the world.
Several countries are converging on effective monitoring of traffic movements with the implementation of advanced technologies that provide rapid reactive measures and reduce the effects of unavoidable disasters. This is one of the latest trends prevailing in the intelligent traffic management systems market.
The emergence of connected vehicles that require transparent communication platforms can influence the adoption of intelligent traffic management systems for proper functioning and subsequently guide future market expansion.
Read more of Fact.MR’s trend reports: –https://www.globenewswire.com/en/news-release/2018/04/09/1466693/0/en/North-America-to-Lead-the-Global-Auto-Infotainment-Market-During-the- Evaluation period.html
How Fact.MR helps to take strategic action for the manufacturer of the Intelligent Traffic Management Systems Market?
The data provided in the Intelligent Traffic Management System market report offers a comprehensive analysis of significant industry trends. Industry players can use this data to strategize their potential trade movements and generate remarkable revenue over the coming period.
The report covers price trend analysis and value chain analysis as well as the analysis of the diverse supply of market players. The primary motive for this report is to help companies make data-driven decisions and strategize for their trade movements.
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