Global Intelligent Traffic Systems Market Overview
Prophecy Market Insights has recently published its insights on “Intelligent Traffic Systems Market” for the forecast period of 2018-2029. The market is segmented into By Type (Integrated Urban Traffic Control System, Freeway Management System, Electronic Toll Collection (ETC), and Advanced Public Transportation System), By Application (Inter-Urban, Urban Traffic Parking Management, Public Transport, Info-mobility, and Freeway), and By Region.
This market is expected to witness significant growth during the forecast period on account of reducing traffic congestion and eliminating delays by sending accurate information to commuters and traffic planners at the right time. In addition, increasing adoption of intelligent traffic management systems across the globe has been improving efficiency in mobility and road transport which is propelling the global market growth.
North America to grow at the highest CAGR during the forecast period
North America is dominating target market owing to rising demand for technological solutions in the region. Asia-Pacific is anticipated to witness significant growth over the forecast period due to increased urbanization and vehicle sales in the region. Europe is expected to grow over the forecast period due to strong focus on emission and congestion-free traffic. Also, Europe has always been adopting the integrated traffic systems since years.
The research scope provides comprehensive market size, and other in-depth market information details such as, market growth supporting factors, restraining factors, trends, opportunities, market risk factors, market competition, product and services advancements and launches, product/services related regulations overview, and recent developments for the mentioned forecast period. In addition, the report provides key examination of market players operating in the specific market and analysis and outcomes related with the target market for more than 20 countries.
In the current research scope 2018 is considered as base year and 2019 is estimated year for market value/volume calculations. The report offers market estimates for the forecast period – 2019 to 2029. The report provides factual inputs and analysis based on primary and secondary research, which includes insights gained through in-depth interviews with primary research participants. Also, the data is gathered from authentic secondary sources and is verified by key opinion leaders in the target market. The in-house research is applied on gathered information to provide more accurate data points and reduce the margin of error. The in-house research and analysis efforts include various tools and 360o data analysis methodology.
The global intelligent traffic systems market report segments the market on the basis of material type, application, and region.
The report expected to answer various target market related questions and offers insights on:
- Definition, description, overview of market growth influencing factors, and forecast for the target market
- Scope for related market in the forecast period
- Analysis and outcome for the global intelligent traffic systems market by segment and region followed by countries
- Market segmentation, dominating segment and region followed by country along with market value, share, Y-o-Y growth, CAGR, forecast, and contribution in the market
- Key market player profiles, their recent developments, strategies, financial details, key competencies, presence by region, and product portfolio
- Valuable insights, data, and forecast that can be referenced to plan business strategies, to tap market opportunities, understand business related risks, derive business goals, to recognize trends, and understand target customers/end users
- Insights on recent technologies, pipeline products, regulations related with target market, market investment, and offers insights on political and economical factors that may influence market growth
- PEST Analysis, PORTER’s five forces analysis, opportunity map analysis, drivers and restraints impact analysis, and market attractiveness index
Competitive Analysis
Advancements in the product as well as in manufacturing process, product launches, and strategic partnerships are some trends witnessed in the global intelligent traffic systems market. For instance, in March 2019, Siemens AG has launched a new digital Lab for Intelligent Traffic Systems (ITS) in Austin, Texas. The lab allows monitoring, analyzing and collecting data to further study and developing important digital urban mobility technologies.
- International Business Machines (IBM) Corporation
- Dahua Technology Co., Ltd.
- Q-Free ASA
- Siemens AG
- Econolite Control Products, Inc.
- Beijing E-Hualu Information Technology Co., Ltd.
- Baumer Holding AG
- Cisco Systems Ltd.
- Wi-LAN Inc.
- Kyosan Electric Manufacturing Co., Ltd.
Prophecy Market Insights offers required customization on this report according to specific business requirements.
FAQs
The Intelligent Traffic Systems Market accounted for US$ 45.6 billion in 2022 and is estimated to be US$ 97.9 billion by 2032 and is anticipated to register a CAGR of 7.5%.
The Intelligent Traffic Systems Market is segmented into Type, Application, and Region.
Increasing urbanization, emphasis on traffic efficiency and safety, and the adoption of smart technologies for traffic management drive the growth of the intelligent traffic systems market globally.
By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.
The key players operating in the target market include International Business Machines (IBM) Corporation, Dahua Technology Co., Ltd., Q-Free ASA, Siemens AG, Econolite Control Products, Inc., Beijing E-Hualu Information Technology Co., Ltd., Baumer Holding AG, Cisco Systems Ltd., Wi-LAN Inc., and Kyosan Electric Manufacturing Co., Ltd.