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
- 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
- Infrastructure Enterprises & PPPs
- Federal and Provincial Government
- Industries & Commercial Enterprise
- Traffic Controllers and Signals
- Surveillance Cameras
- Video Walls
- 3D Simulators
- GUI Workstation
- Detectors & Sensors
- Other Components
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.