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Integrated Smart Traffic Management System Market

Integrated Smart Traffic Management System Market is expected to foresee significant growth. Asia-Pacific to lead the growth!

The Integrated Smart Traffic Management System Market is predicted to grow at a CAGR of 13.82% during the forecast period. Key factors influencing the growth of the integrated smart traffic management system market include the increasing growth of population and vehicles, health hazards due to pollution, and the implementation of smart traffic control frameworks. Furthermore, To meet the demands of an overgrowing city the traditional traffic lights deployed in cities are not sufficient since these traffic lights have specific predetermined time intervals for changing from a red phase to the green phase.  This major issue, that most cities are facing in spite of measures being taken to palliate and reduce it. In recent years traffic congestion has become apparent as one of the major challenges for engineers, planners, and policymakers, not in all urban settings, but worldwide.

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The increasing urbanization and car ownership has been prominent factor in the growth of the integrated smart traffic management system market. Cities or urban areas have a long-standing history of cultivating technological innovations that allow citizens to efficiently access goods and commute. However, the ease of access has been increasingly difficult to maintain under rapid urbanization Rapid urbanization and increasing demand for transportation burdens urban road infrastructures. The need for mobility is increasing, as can be seen from the growing number of road users as well as from the increasing number of movements per user. This leads to an increase in the frequency of traffic jams and growing lengths of the queues in the traffic network.

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Based on the offering segment, the integrated smart traffic control systems market has been segmented into traffic monitoring, traffic control, and information provision. Traffic monitoring was the prominent revenue-generating segment in 2021. However, the traffic control segment is expected to witness a substantial CAGR during the forecast period.

Based on the services segment, the integrated smart traffic control systems market has been segmented into deployment & integration, training & consulting, and support & maintenance. Deployment & integration held a significant share in the integrated smart traffic management system market in 2021. However, the support & maintenance segment is expected to witness a robust CAGR during the forecast period 2022-2028.

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For a better understanding of the market adoption of the integrated smart traffic management system industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), and Rest of World. North America held a prominent share in the global integrated smart traffic management system market.  

Some of the major players operating in the market include Kapsch Traffic Com AG, Iteris, Inc., Cisco Systems, Inc., Thales Group, Cubic Corporation, TomTom NV, Siemens AG, EFKON GmbH, SWARCO Inc., and  IBM Corporation.

Satellite Transponders  Segmentation

Market Insight, by Offering

  • Traffic Monitoring
  • Traffic Control
  • Information Provision

Market Insight, by Service

  • Deployment & Integration
  • Training & Consulting
  • Support & Maintenance

Market Insight, by Hardware

  • Display Boards
  • Sensors
  • Surveillance Cameras
  • Remote Sensing
  • Smart Traffic Lights
  • Others

Market Insight, by Application

  • Freeway Management
  • Electronic Toll Management
  • Tunnel Management
  • Road Safety & Security
  • Parking Management
  • Others

Market Insight, by Region

  • NORTH AMERICA INTEGRATED SMART TRAFFIC CONTROL SYSTEM MARKET
  • EUROPE INTEGRATED SMART TRAFFIC CONTROL SYSTEM MARKET
  • ASIA-PACIFIC INTEGRATED SMART TRAFFIC CONTROL SYSTEM MARKET
  • LATIN AMERICA INTEGRATED SMART TRAFFIC MANAGEMENT SYSTEMS MARKET
  • MIDDLE-EAST & AFRICA INTEGRATED SMART TRAFFIC MANAGEMENT SYSTEMS MARKET

Top Company Profiles

  • Kapsch Traffic Com AG
  • Iteris, Inc.
  • Cisco Systems, Inc.
  • Thales Group
  • Cubic Corporation
  • TomTom NV
  • Siemens AG
  • EFKON GmbH
  • SWARCO Inc.
  • IBM Corporation

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