Global Intelligent Traffic Management System (ITMS) Market by Type (Traffic Monitoring Systems, Traffic Signal Control Systems, Traffic Enforcement Camera, Integrated Corridor Management (ICM), Intelligent Driver Information Systems, Others), By Application (Government, Commercial) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global intelligent traffic management system (ITMS) market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for smart cities and rising concerns over traffic congestion and its impact on economic development. The ITMS market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into traffic monitoring systems, traffic signal control systems, traffic enforcement camera, integrated corridor management (ICM), intelligent driver information systems (IDIS), and others. Traffic monitoring systems are further sub-segmented into vehicle detection sensors, video analytics software platforms & services,, incident detection & response platforms,, advanced traveler information systems,, and others). Traffic signal control system are further sub-segmented into adaptive signal control,, intersection collision avoidance system,, pedestrian countdown timer,. Traffic enforcement camera are further sub-segmented into red light cameras,. Integrated corridor management (ICM) is a combination of various ITS components that manage freeway or arterial corridors with significant intersections. Intelligent driver information system includes Advanced Driver Assistance Systems(ADAS) such as forward collision warning/mitigation ADAS), lane departure warning ADAS), blind spot detection ADAS)) etc.



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Product Definition:

An Intelligent Traffic Management System (ITMS) is a system that manages the flow of traffic on a roadway network. ITMS uses sensors and software to monitor the speed and congestion of traffic, and then adjusts the signal timing or routing to optimize traffic flow. The benefits of using an ITMS include reduced travel times, improved fuel economy, and reduced emissions.

Traffic Monitoring Systems:

Traffic monitoring systems are used to collect traffic data and monitor the efficiency of signal timing. They record information such as vehicle location, time of travel, speed, direction and other parameters on a digital or printed medium. The collected data is then analyzed to determine any abnormalities in traffic flow which may lead to accidents or congestion.

The factors that have been driving the global Traffic Monitoring Systems (TMS) market include growing demand for real-time traffic updates provided by government authorities.

Traffic Signal Control Systems:

Traffic signal control systems are used in ITMS to manage traffic signals. Signal controls are used to regulate the green light duration and provide safety at crosswalks, school zones, and other public areas. The system includes a controller that is connected to each of the lights through a communication link. The controller monitors traffic volume and determines when it is safe for pedestrians to cross the road; it also ensures that there are no cars in an intersection during red intervals.

Application Insights:

The government application segment led the market and accounted for more than 69.0% share of the global revenue in 2017. The ITMS solutions are being deployed at various levels of governments to improve traffic management and road safety across all major cities around the world. For instance, according to a study conducted by Transport Research Laboratory (TRL), a research organization under Department for Transport (DfT) in collaboration with National University of Singapore, nearly 40% of accidents occur at junctions where there is heavy traffic due to lack of proper planning by transport authorities leading to improper lane usage which can be remedied with intelligent systems that sense and react based on real-time data from cameras installed at strategic locations along roadsides.

Regional Analysis:

North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to early adoption of advanced technologies, high spending power, and a large number of traffic accidents every year. Moreover, government initiatives are also encouraging industry players to invest in this region thereby driving regional growth. For instance, Department of Transportation (DOT) under the U.

The Asia Pacific is anticipated to witness significant growth over the forecast period owing to increasing road infrastructure expenditure coupled with growing urbanization and rising disposable income especially in developing countries such as China and India among others within this region such as South Korea, Taiwan Province Of China (TPCC), Hong Kong SAR etc.; Indonesia; Malaysia; Philippines; Vietnam Among Others).

Growth Factors:

Increasing demand for intelligent traffic management system from various end-use industries to manage and monitor the traffic congestion efficiently.
Rising need for advanced and innovative ITS solutions to optimize the traffic flow and minimize the environmental impact.
Proliferation of smart cities across the globe is expected to create new opportunities for ITMS market growth over the forecast period.
Growing investments by public authorities towards development of intelligent transportation systems is anticipated to boost market growth in near future.


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Scope Of The Report
Report Attributes
Report Details
Report Title
Intelligent Traffic Management System (ITMS) Market Research Report
By Type
Traffic Monitoring Systems, Traffic Signal Control Systems, Traffic Enforcement Camera, Integrated Corridor Management (ICM), Intelligent Driver Information Systems, Others
By Application
Government, Commercial
By Companies
ADCCO, Agero, Inc., DENSO Corporation, EFKON AG, Hitachi Ltd., Garmin International, Inc., Iteris, Inc., Kapsch TrafficCom AG, Lanner Electronics, Inc., Nuance Communications, Inc., Q-Free ASA, Ricardo PLC, Siemens AG, Sensys Networks Incorporation, Telenav, Inc., Thales Group, TomTom NV, TransCore, LP, WS Atkins PLC, Xerox Corporation
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
195
Number of Tables & Figures
137
Customization Available
Yes, the report can be customized as per your need.

Global Intelligent Traffic Management System (ITMS) Market Report Segments:
The global Intelligent Traffic Management System (ITMS) market is segmented on the basis of:
Types
Traffic Monitoring Systems, Traffic Signal Control Systems, Traffic Enforcement Camera, Integrated Corridor Management (ICM), Intelligent Driver Information Systems, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Government, Commercial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
ADCCO
Agero, Inc.
DENSO Corporation
EFKON AG
Hitachi Ltd.
Garmin International, Inc.
Iteris, Inc.
Kapsch TrafficCom AG
Lanner Electronics, Inc.
Nuance Communications, Inc.
Q-Free ASA
Ricardo PLC
Siemens AG
Sensys Networks Incorporation
Telenav, Inc.
Thales Group
TomTom NV
TransCore, LP
WS Atkins PLC
Xerox Corporation



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Highlights of The Intelligent Traffic Management System (ITMS) Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Traffic Monitoring Systems
Traffic Signal Control Systems
Traffic Enforcement Camera
Integrated Corridor Management (ICM)
Intelligent Driver Information Systems
Others
By Application:
Government
Commercial
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Intelligent Traffic Management System (ITMS) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
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8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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