A recent study by Fact.MR on the intelligent traffic management system offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth Intelligent Traffic Management System of the market. This report explicates vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging associated with offering intelligent traffic management systems.
Intelligent traffic management systems have greatly revolutionized the way road traffic is managed. Fact.MR has recently published a report on the market, forecasting a valuation of US$ 17.75 Bn by 2021-end. By the end of the 2021-2031 assessment period, the market is expected to reach US$ 34 Bn, registering a CAGR of 6.7%. Demand for integrated urban traffic control will surge the highest, at a CAGR of 7%.
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Key Segments Covered
-
Product Type
- 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
- Freeway Management System
- Other Systems
-
Spender Type
- Infrastructure Enterprises & PPPs
- Federal and Provincial Government
- Industries & Commercial Enterprise
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Components
- Traffic Controllers and Signals
- Surveillance Cameras
- Video Walls
- Server
- 3D Simulators
- GUI Workstation
- Detectors & Sensors
- Other Components
The Market survey of Intelligent Traffic Management System offers a comprehensive analysis of diverse features, including production capacities analysis of Intelligent Traffic Management System, demand, product developments, revenue generation, and Size of Intelligent Traffic Management System Market across the globe.
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Competitive Landscape
Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions to expand their market ground.
- In January 2021 Dahua Technology, a world leading video-centric smart IoT solution and service provider launched: WizSense/WizMind series which focus on the AI value transmission; HDCVI 6.0 Plus that offers continued advancement in over-coax technology, and Full-color 2.0 which provides excellent performance under extreme low light conditions, driving innovation to an AIoT future.
- In the same time period, Q-Free ASA launched Kinetic Signals to manage traffic signals centrally. Kinetic Signals features a comprehensive intersection editor, interactive reporting, built-in ATSPMs, and a detail-rich database management system to efficiently control and monitor traffic signals in real-time across cities, states, and regions.
Some Notable Offerings by Fact.MR Report on Intelligent Traffic Management System market:
- MR will provide you an analysis of the extent to which this Intelligent Traffic Management System market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
- MR will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
- Also, this report will help you to identify any trends to forecast growth rates.
- The analyzed report will forecast the general tendency for supply and demand.
Some of the Intelligent Traffic Management System Market insights and estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides:
- Details regarding latest innovations and development in Intelligent Traffic Management System and how it is gaining customer traction during the forecast period.
- Analysis about the customer demand of the products and how it is likely to evolve in coming years.
- Latest regulations enforced by government bodies and local agencies and their impact on Demand of Intelligent Traffic Management System Market .
- Insights about adoption of new technologies and its influence on the Intelligent Traffic Management System market Size.
- Overview of the impact of COVID-19 on Intelligent Traffic Management System Market and economic disruptions caused by the pandemic.
- Evaluates post-pandemic impact on the Sales of Intelligent Traffic Management System Market during the forecast period.
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What’s Fuelling Sales of Intelligent Traffic Management Systems in the U.S?
With revolutionary innovations in the ICT sector, North America is likely to remain the most attractive market for intelligent traffic management systems, while the United States accounts for relatively high revenue share in the region.
The Advanced Transportation and Congestion Management Technologies Deployment Initiative by the U.S. Department of Transportation has proven to be a milestone in assisting public transportation system operators. Soaring adoption of cloud computing and data analytics for smart parking solutions and avoid collision in country has added a new chapter for the market expansion of intelligent traffic management systems in the U.S.
Increasing Vehicle Ownership to Encourage Adoption of ITM Systems?
The population of on-road vehicles is relentlessly rising, especially passenger vehicles, which is likely to touch the 2 billion milestone by the end of 2040. Booming government initiatives for infrastructural development lined with improving road networks will not only save time but also the hard-earned money of commuters globally.
Several countries are converging on efficient monitoring of traffic movements with the implementation of advanced technologies that provide quick reactive measures and reduce the effects of unavoidable disaster. This is one the latest trends prevailing in the intelligent traffic management systems market.
Emergence of connected vehicles which require seamless communication platforms may influence the adoption of intelligent traffic management systems for proper functioning and subsequently guide the future expansion of the market.
Read More Trending Reports of Fact.MR: –https://www.globenewswire.com/en/news-release/2018/04/09/1466693/0/en/North-America-to-Lead-the-Global-Auto-Infotainment-Market-During-the-Period-of-Assessment.html
How Fact.MR Assists in Making Strategic Moves For Intelligent Traffic Management System Market Manufacturer?
- The data provided in the Intelligent Traffic Management System market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
- The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.
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