Intelligent Traffic Management System Market Scope, Segmentation, Assessment and Opportunities by Forecast 2022-2030

Overview
Ever-increasing traffic flow accelerates traffic congestion and jams, causing an increase in the cost of transportation and impacting people's everyday lives. An intelligent traffic management system sanctions users to be better informed and to make safer, more systematized efficient, and more innovative use of transport network. An intelligent traffic management system is a progressive application that, without incorporating intelligence as such, aspires to offer innovative series in context to varied modes of transport and traffic management.

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Several technologies are integrated to build ITMS. The technologies must be selected depending on use, location, and finances obtainable. Progression in telecommunication and information technologies, together with the obtainability of ultra-modern and state-of-the-art microchips, radio frequency identification, and cost-effective intelligent beacon sensing technologies, are assisting in improvising the technical capabilities of these systems.

Growth Drivers
Rapid urbanization to drive the demand for the market
The global market for intelligent transport systems is anticipated to expand more swiftly because of the rapid rise in population and more substantial investment in transport. Urbanization is one of the primary causes of the city's population increase. Detecting results to offer intelligent transportation management in cities will possibly clear successful chances for market participants as increasing urbanization endures influencing the world economy.

Geographic Overview
The Asia Pacific to emerge as the dominating region
Asia Pacific is anticipated to rise at the highest CAGR throughout the forecast period in the global intelligent traffic management system market. It is expected that factors like an escalation in car ownership cause hindrance in parking and the growing need for systematic transportation globally and would speed up the expansion of the intelligent transportation business.

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Key Segmentation
By Product Analysis
Single data communication to drive the market
Dependent on the product, the integrated urban traffic control system segment is anticipated to grow at the fastest pace over the forecast period. Several management and regulation applications utilize a single data communication standard and agreements under the urban traffic control system to share data. The demand for an integrated urban traffic control system is expected to rise as additional computer applications are connected to push the productivity of urban transportation.

Key Players
Some major players operating in the global market include Chevron, Cisco, Cubic Corporation, FLIR, General Electric Company, Huawei, IBM, Kapsch TrafficCom AG, PTV Group, Q-Free ASA, Siemens AG, SWARCO, Thales Group, TomTom International BV, and Transcore.

Recent Developments
In November 2021, Kapsch TrafficCom launched climate-friendly Traffic Management 2.0 in Vienna. The deployment of this solution paves the way in defining the improvements to air quality.
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Intelligent Traffic Management System Market: By Product Outlook
• Integrated Urban Traffic Control
• Variable / Dynamic Message Signs
• Emergency Response
• Border Control System
• Electronic Toll Collection
• Parking Management
• Violation and Measurement
• Tunnel Management
• Freeway Management

Intelligent Traffic Management System Market: By Components Outlook
• Traffic Controllers and Signals
• Surveillance Cameras
• Video Walls
• Server
• 3D Simulators
• GUI Workstation
• Detectors & Sensors
• Other Components

Intelligent Traffic Management System Market: By Region Outlook
• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Spain, Netherlands, Russia)
• Asia Pacific (Japan, China, India, Singapore, Australia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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