Intelligent Traffic Management System Market Research Report—Global Forecast till 2032

Intelligent Traffic Management System Market Research Report Information By Solution (Traffic Monitoring System, Traffic Signal Control System, Traffic Enforcement Camera, Integrated Corridor Management, Intelligent Driver Information System And Others), By Offering (Hardware, Software And Service) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/AM/9272-HCR | 449 Pages | Author: Sejal Akre | February 2024         

Intelligent Traffic Management System Market Speak to Analyst Request a Free Sample

Intelligent Traffic Management System Market Overview:


Intelligent Traffic Management System Market Size was valued at USD 8.5 Billion in 2022. The Intelligent Traffic Management System Market industry is projected to grow from USD 9.4 Billion in 2023 to USD 22.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.20% during the forecast period (2023 - 2032). Inadequate resources and a growth in the number of automobiles are the key market drivers enhancing the market growth.


Intelligent Traffic Management System Market


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Intelligent Traffic Management System Market Trends


Growing Public Concern about Traffic Congestion Drives Market Growth


The increased awareness of the importance of decreasing traffic congestion is driving the market CAGR for intelligent traffic management system. As different parts of the world continue to urbanise, traffic congestion will worsen. Rapid urbanisation, particularly in developing economies such as India, has driven migration from rural to urban areas. As a result, while suburban population density continues to expand, infrastructure development cannot keep up with urbanisation. The endless increase in population, vast growth of cities, unplanned agglomerations, and the resulting surge in car ownership are expected to pose substantial difficulties to urban transportation in the twenty-first century.


Ageing infrastructure, increased traffic congestion, and the accompanying demand on current mobility options and transportation infrastructure will exacerbate traffic congestion and jams, raise transportation expenses, and have a negative impact on people's daily life. An ITS can make a substantial contribution to real-time traffic data and traffic congestion reduction. Over the forecast period, developments in Radio Frequency Identification (RFID) tools, microchips, beacon-sensing technologies, and information and communication technology are expected to strengthen technological capabilities and boost ITMS adoption.


Furthermore, various projects are being done to promote awareness about overall road safety and to install advanced traffic management systems. These activities are expected to boost demand for V2V and V2I communication. Electronic Stability Control (SC) systems and driver assistance systems are required in developed economies such as Europe and North America for passenger and commercial vehicles. Such laws are expected to boost demand for ITS solutions in the near future.


Intelligent Traffic Management System Market Segment Insights:


Intelligent Traffic Management System Solution Insights


The Intelligent Traffic Management System Market segmentation, based on solution includes traffic monitoring system, traffic signal control system, traffic enforcement camera, integrated corridor management, intelligent driver information system and others. In 2022, the traffic monitoring system segment dominated the market. Inadequate signal controls can cause significant traffic congestion and increase overall travel time. The favourable government measures to build traffic infrastructures, the advent of smart city projects, and the growth of adaptive intelligent traffic controls and analytics are major reasons in implementing traffic monitoring systems. Furthermore, increased traffic congestion and automobile pollution have accelerated the demand for Mobility as a Service (MaaS), which is expected to drive market expansion throughout the forecast period.


Intelligent Traffic Management System Offering Insights


The Intelligent Traffic Management System Market segmentation, based on offering, includes hardware, software and service. The software sector has largest share of the market and is predicted to increase at an average rate throughout the forecast period. With autonomous and networked vehicles, the software industry is fast increasing and gaining pace. The software in an intelligent traffic management system is utilized to implement road scenarios based on historical data.


Figure1:Intelligent Traffic Management System Market, by Offering, 2022 & 2032 (USD Billion)


Intelligent Traffic Management System Market, by Offering, 2022 & 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Intelligent Traffic Management System Regional Insights


By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific accounted for the largest share of the market and is expected to grow at the fastest rate in the market. This is mostly due to the rapid growth of population in emerging countries, which has accelerated the implementation of Intelligent Traffic Management Systems.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure2: Intelligent Traffic Management System Market SHARE BY REGION 2022 (USD Billion)


Intelligent Traffic Management System Market SHARE BY REGION 2022


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe’s Intelligent Traffic Management System Market accounts for the second-largest market share due to the rising per capita disposable income among individuals. Further, the German Intelligent Traffic Management System Market held the largest market share, and the UK Intelligent Traffic Management System Market was the fastest growing market in the European region


The North America Intelligent Traffic Management System Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to increased usage of mobile and radio devices with short-range dedicated technology enables drivers throughout the region, necessitating the necessity for ITMS solutions. Moreover, China’s Intelligent Traffic Management System Market held the largest market share, and the Indian Intelligent Traffic Management System Market was the fastest-growing market in the North American region.


Intelligent Traffic Management System Key Market Players & Competitive Insights


Leading market players are investing heavily in R&D in order to expand their product lines, which will help the Intelligent Traffic Management System Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Intelligent Traffic Management System industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Intelligent Traffic Management System industry to benefit clients and increase the market sector. In recent years, the Intelligent Traffic Management System industry has offered some of the most significant advantages to medicine. Major players in the Intelligent Traffic Management System Market, including Baumer Holding AG (Switzerland) IBM Corporation (U.S.), Dahua Technology Co. Lid. (U.S.), Beijing E-Hualu Information Technology Co. Ltd (China) and others, are attempting to increase market demand by investing in R&D operations.


Siemens is a German multinational conglomerate and Europe's largest industrial manufacturing firm. Its headquarters are in Munich, and it has a number of foreign branch offices. The company's primary divisions are Digital Industries, Smart Infrastructure, Mobility, Healthcare (named Siemens Healthineers), and Financial Services. The firm is a notable manufacturer of medical diagnostics equipment; its medical health-care segment, which accounts for around 12% of total revenues, is the corporation's second-most lucrative unit after the industrial automation division. It is considered as a pioneer in this field and the corporation with the largest revenue in the world. In July, 2021, Siemens has announced the rebranding of its Intelligent Traffic Systems (ITS) division as Yunex Traffic. The need for machine intelligence, 5G, and cloud computing as part of the smart city is forcing Yunex Traffic to become more self-sufficient. The company, which provides adaptive traffic control and management, highway and tunnel automation, and smart solutions for V2X and toll systems, generates about USD 700.28 million in yearly sales and is increasing at an annual rate of 8%.


TomTom N.V. is a Dutch multinational company that develops and manufactures location technology and consumer devices. TomTom, which was founded in 1991 and is headquartered in Amsterdam, brought its first generation of satellite navigation devices to the market in 2004. As of 2019, the company employed over 4,500 people globally and operated in 29 countries across Europe, Asia-Pacific, and the Americas. Corinne Vigreux, Peter-Frans Pauwels, and Pieter Geelen formed Palmtop Software in Amsterdam in 1991. Before focusing on the consumer sector and delivering the first route planning software for mobile devices in 1996, the company focused on corporate handheld device software. In June 2021, TomTom signed a multi-year agreement with GreenMile, a logistics software business. TomTom would integrate its TomTom Maps APIs with GreenMile's solutions to assist clients with in-vehicle surveillance and real-time path planning, as well as suggest the best route for their convoys based on factual traffic situations, vehicle limitations, tolls, and other factors.


Key Companies in the Intelligent Traffic Management System market include



  • Siemens AG (Germany)

  • Quarterhill Inc. (Canada)

  • Thales Group (France)

  • Q-Free ASA (Norway)

  • Baumer Holding AG (Switzerland)

  • IBM Corporation (U.S.)

  • Dahua Technology Co. Ltd. (U.S.)

  • Beijing E-Hualu Information Technology Co. Ltd (China)

  • Econolite Control Products, Inc. (U.S.)

  • Iteris Inc. (U.S.)


Intelligent Traffic Management System Industry Developments


In June 2021, Kapsch TrafficCom secured a contract with a Plenary construction firm. The goal of this contract was to set up a toll collection system along the Louisiana Highway. These technologies would be adopted for the Louisiana Transportation Department and development to provide modern facilities and operational excellence to improve the travel destinations of Louisiana drivers.


In June 2021, Cubic Transportation Systems, a division of Cubic Corporation, has entered into an agreement with CVEDIA, a developer of artificial intelligence solutions, to begin operations. As part of this agreement, CVEDIA will offer synthetic innovation to Cubic Corporation's GRIDSMART products, with the goal of developing deep neural networks for its omnidirectional sensors and other advanced transportation network technologies.


In October 2021, Yunex Traffic, a Siemens subsidiary, has expanded its partnership with HERE Technologies, a global provider of navigation, position information, and related automotive services. The firms aimed to offer proactive traffic control options to governments and public transportation organisations through this expanded cooperation.


Intelligent Traffic Management System Market Segmentation:


Intelligent Traffic Management System Market Solution Outlook



  • Traffic Monitoring System

  • Traffic Signal Control System

  • Traffic Enforcement Camera

  • Integrated Corridor Management

  • Intelligent Driver Information System

  • Others


 Intelligent Traffic Management System Market Offering Outlook



  • Hardware

  • Software

  • Services


Intelligent Traffic Management System Regional Outlook




  • North America



    • US

    • Canada




  • Europe



    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe




  • Asia-Pacific



    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific




  • Rest of the World



    • Middle East

    • Africa

    • Latin America



Report Scope:

Report Attribute/Metric Details
Market Size2022 USD 8.5 Billion
Market Size 2023 USD 9.4 Billion
Market Size2032 USD 22.0 Billion
Compound Annual Growth Rate (CAGR) 11.20% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Solution, Offering and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, the  UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Siemens AG (Germany), Quarterhill Inc. (Canada), Thales Group (France), Q-Free ASA (Norway), Baumer Holding AG (Switzerland) IBM Corporation (U.S.), Dahua Technology Co. Lid. (U.S.), Beijing E-Hualu Information Technology Co. Ltd (China), Econolite Control Products, Inc. (U.S.), Iteris Inc. (U.S.).
Key Market Opportunities Developing smart autos that are functional as technology advances.
Key Market Dynamics Increase in the construction of expressways to develop interstate transportation.




Frequently Asked Questions (FAQ) :

The Intelligent Traffic Management System Market size was valued at USD 8.5 Billion in 2022.

The global market is projected to grow at a CAGR of 11.20% during the forecast period, 2023-2032.

The key players in the market are Baumer Holding AG (Switzerland) IBM Corporation (U.S.), Dahua Technology Co. Lid. (U.S.), Beijing E-Hualu Information Technology Co. Ltd (China).

The traffic monitoring system category dominated the market in 2022.

The software category had the largest share in the global market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Request Free Sample

Why Choose Market Research Future?

  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.
Speak to Analyst
Leading companies partner with us for data-driven Insights.
Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo

Kindly complete the form below to receive a free sample of this Report

Please fill in Business Email for Quick Response
Invalid