Intelligent Traffic Management System Market Key Companies Profile, CAGR And Forecast 2027

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 Intelligent Traffic Management System Market is anticipated to reach US$ 18.02 Bn. by 2027 from US$ 9.13 Bn. in 2020 at a CAGR of 12% during a forecast period.

Market Overview:

The Intelligent Traffic Management System Market research evaluates the market's major characteristics using a variety of factors such as supply, demand, feasibility, and current trends. The Intelligent Traffic Management System Market research also provides forecasts for the years 2022-2027. The Intelligent Traffic Management System report estimates and forecasts potential growth in the worldwide Intelligent Traffic Management System market at each point in time, based on statistical data and in-depth research that takes into account both qualitative and quantitative values of significant elements such as historical, current, and future trends. The study also looks at the current Intelligent Traffic Management System market as well as the market's prospects. A thorough examination of business execution, market share, and cost analysis data is also included in the study.

One of the main factors fueling the growth of the worldwide intelligent traffic management system market, which is anticipated to increase at a CAGR of from 2021 to 2027, is the growing need for technological solutions. In 2020, the intelligent traffic management systems market in North America was estimated to be worth US$ billion. Although the data for 2020 are based on the actual output of the companies in the industry, 2020 is used as a base year in the research. A special focus is placed on 2020, the effects of lockdown on supply and demand, as well as the market's response to lockdown over the next two years.

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In this research, we discuss all market aspects. Positive aspects, constraints, possibilities, and problems are all discussed in depth in the paper, and all data is gathered from press releases and yearly reports. The goal of the study is to propose a patent-based strategy for finding possible technology partners as a tool for encouraging open innovation. The report's market share research and comparison of the leading players allow users to take additional steps in their organization's growth or improvement.

Key Players:

• Cubic Corporation
• SNC-Lavalin Group (Atkins)
• Thales Group
• International Business Machines Corporation
• General Electric Company
• Siemens AG
• Kapsch TrafficCom
• TomTom International BV
• Q-Free ASA
• TransCore
• IBM Corporation
• Dahua Technology Co., Ltd.
• Beijing E-Hualu Information Technology Co., Ltd.
• Econolite Control Products, Inc.
• Baumer Holding AG.

Market Segmentation:

The segment that generates the most revenue for the market for intelligent traffic management systems is integrated urban traffic control systems, which topped the market in 2021 with a 16.9% value share. During the projection period, the segment is anticipated to develop at a CAGR of 16 percent (2021-2027).
Due to the increasing use of expressways to enhance interstate traffic, the freeway management systems market is predicted to expand at a rate of % over the projected period.

Regional Trends:

  • North America (U.S., Canada)
  • Europe (U.K., Germany, France, Italy)
  • Asia Pacific (China, India, Japan, Singapore, Malaysia, South Korea )
  • Latin America (Brazil, Mexico, Argentina, Chile)
  • Middle East & Africa (South Africa, Egypt, and Saudi Arabia)

COVID-19 Impact on Intelligent Traffic Management System Market:

Our team is analyzing the influence of COVID 19 on various industry verticals and providing authenticated data to our clients. This information is useful in determining market conditions. To comprehend the impact and factors of COVID 19 on the worldwide Intelligent Traffic Management System market, consult our expert monitoring, which explains all the influencing elements and COVID impact on each key player.

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