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Intelligent Traffic Management System Market Size to Surpass USD 28.80 Billion with a Growing CAGR of 12.6% by 2030, Says SNS Insider

02-09-2024 07:26 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: SNS Insider Pvt Ltd

Intelligent Traffic Management System Market

Intelligent Traffic Management System Market

Intelligent Traffic Management System Market is projected to reach $ 28.80 billion by 2030. The marketplace is experiencing remarkable growth, propelled by the continuous efforts of the worldwide automotive sector to find innovative solutions for reducing weight.

According to SNS Insider, as car manufacturers aim to boost fuel efficiency, minimize emissions, and enhance the overall performance of vehicles, there is a growing need for aluminum in the automotive manufacturing sector.

Market Size:

The financial worth of the Intelligent Traffic Management System Market was $ 11.14 billion in 2022 and is anticipated to achieve $ 28.80 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 12.6% during the projected timeline from 2023 to 2030.

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Key Players:

Baumer Holding AG (Switzerland), Cubic Corporation; Dahua Technology Co. Ltd. (U.S.), General Electric Company, Econolite Control Products, Inc. (U.S.), Kapsch TrafficCom, Siemens AG (Germany), TomTom International BV, IBM Corporation (U.S.), Thales Group (France), SNC-Lavalin Group (Atkins); Q-Free ASA (Norway), Quarterhill Inc. (Canada), Beijing E-Hualu Information Technology Co. Ltd (China), Iteris Inc. (U.S.), and International Business Machines Corporation are some of the affluent competitors with significant market share in the Intelligent Traffic Management System Market.

Market Scope:

Aluminum stands out due to its distinctive blend of elevated durability and reduced mass, rendering it a desirable substance for a range of parts, such as car body panels, chassis components, and elements of the powertrain. Furthermore, the growing inclination towards electric vehicles (EVs) is accentuating the importance of aluminum, as it aids in expanding the battery range by trimming down weight. Additionally, the automotive sector's increased focus on ecological responsibility and reusability is propelling market growth, as aluminum boasts excellent recyclability, aligning seamlessly with the sector's environmentally conscious objectives.

Industry Analysis:

The present state of the market for aluminum in the automotive sector involves dynamic changes, influenced by a combination of technological progress, environmental considerations, and evolving consumer choices. As the industry moves towards eco-friendly transportation solutions, aluminum assumes a crucial role, providing a lighter substitute for conventional materials. The rising need for vehicles with improved fuel efficiency, spurred by strict emission standards, has brought aluminum into focus. Automakers are exploring avenues to boost fuel efficiency while maintaining high standards of safety and performance.

Segment Analysis:

The cast aluminium sector stands out as a significant contributor, encapsulating robustness and adaptability. Distinguished by its outstanding lightweight features and remarkable robustness, components made from cast aluminium have become fundamental in contemporary automotive design. A detailed examination of this sector uncovers a fluid interaction between progress in technology and inventive engineering. Ranging from powerplant enclosures to gear case housings, the uses of cast aluminium span essential automotive subsystems, enhancing effectiveness and functionality. As the automotive domain progresses, the cast aluminium category remains steadfast, carving a route toward a forthcoming era where effectiveness, eco-friendliness, and state-of-the-art design converge.

By Solution:

• Traffic Monitoring System
• Traffic Enforcement Camera
• Traffic Signal Control System
• Intelligent Driver Information System
• Integrated Corridor Management
• Others

By Spender Type:

• Infrastructure Enterprises & PPPs
• Federal and Provincial Government
• Industries & Commercial Enterprise

By Offering:

• Hardware
• Software
• Services

Regional Analysis:

The trajectory of the APAC region is influenced by a captivating interplay of various factors. A significant transformation is occurring in the automotive industry, where there is a notable shift towards utilizing lightweight materials to improve fuel efficiency and promote sustainability. APAC has positioned itself as a crucial participant in driving this evolution. The region's rapidly growing economies, coupled with an expanding middle class, are contributing to an unprecedented demand for automobiles. This increase in automotive production, particularly in nations such as China and India, is fostering a requirement for advanced materials, with aluminum standing out due to its impressive strength-to-weight ratio. Moreover, the APAC region is witnessing a heightened focus on stringent emission standards and an increasing environmental awareness. This has further propelled the adoption of aluminum, attributed to its recyclable nature and environmentally friendly characteristics.

Key Takeaways:

• The direction of the market is influenced by the changing landscape of electric vehicles (EVs), where the significance of aluminium goes beyond just reducing weight. It plays a crucial role in meeting the specific requirements of electrified platforms.
• At the same time, the market is experiencing a fluid interaction between well-established industry leaders and agile pioneers. New alloys and manufacturing methods are competing for attention and prominence in this dynamic landscape.
• Hence, the sector dedicated to aluminium in the automotive industry emerges as a stage for innovation, sustainability, and strategic partnerships. This mirrors the broader transformation of the automotive sector in a period marked by constant change.

For More Information:

Recent Industry Development:

Exploring cutting-edge technologies for weight reduction, prominent players in the automotive industry have partnered with top aluminum providers to unveil inventive measures focused on improving fuel efficiency and the overall performance of vehicles. This joint initiative has led to the creation of sophisticated aluminum alloys, custom-designed to address the unique requirements of contemporary automotive styling. Significantly, advancements in incorporating aluminum elements, including panels and structural parts, have not only led to a noteworthy decrease in weight but have also stimulated the development of greener and eco-friendly vehicles.

Table of Contents:

1. Introduction

1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession

5. Value Chain Analysis

6. Porter's 5 forces model

7. PEST Analysis

8. Global Intelligent Traffic Management System Market Segmentation, by Solution

8.1 Traffic Monitoring System
8.2 Traffic Enforcement Camera
8.3 Traffic Signal Control System
8.4 Intelligent Driver Information System
8.5 Integrated Corridor Management
8.6 Others

9. Global Intelligent Traffic Management System Market Segmentation, by Spender Type

9.1 Infrastructure Enterprises & PPPs
9.2 Federal and Provincial Government
9.3 Industries & Commercial Enterprise

10. Global Intelligent Traffic Management System Market Segmentation, by Offering

10.1 Hardware
10.2 Software
10.3 Services

11. Regional Analysis


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Contact Us:

Akash Anand - Head of Business Development Strategy
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company 's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety.

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