Intelligent Traffic Management System Market

Intelligent Traffic Management System Market Size by Solution (Traffic Monitoring System, Traffic Enforcement Cameras, Traffic Signal Control System, Intelligent Driver Information System, Integrated Corridor Management), By Spender Type (Infrastructure Enterprises & PPPs, Industries & Commercial Enterprise, Federal & Provincial Government), By Components (Traffic Controllers & Signals, Video Walls, Surveillance Cameras), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12680
  • Published Date: Mar, 2022
  • Pages: 234
  • Category: Automotive & Transportation
  • Format: PDF
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The global intelligent traffic management system market is expected to reach USD 31.07 billion by 2030, at a CAGR of 13.3% from 2022 to 2030. The Intelligent Traffic Management System market has grown fast in recent years, and it is expected to grow much more throughout the forecast period. The industry is seeing rapid expansion due to the adoption of environmentally friendly automotive technologies and the launch of MaaS. Increasing demand for organizational effectiveness and new regulatory directives all contribute to the market's rapid expansion. However, there is enormous potential for development for traffic management companies. Small businesses and startups are also making a name for themselves in the traffic management sector by selling their services worldwide. The traffic management sector is progressively embracing modern technologies that connect and manage traffic flow in diverse locations for the convenience of commuters, i.e., automobiles and pedestrians, and to decrease the impact on the environment and boost overall traffic performance.

Market Overview:

Traffic management is a significant field of logistics that includes regulating services, traffic monitoring, scheduling services, and purchasing transportation services. Accidents have increased in recent years, and the intelligent traffic management industry has played a vital role in minimizing the rising number of occurrences. The intelligent traffic management sector is continually developing and is in a growth stage, with several ideas and improvements occurring. Further advancements in new traffic management technologies will stimulate the abolition of obsolete traffic management approaches. All of this will contribute to the expansion of the intelligent traffic management market share.

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Market Dynamics:

Drivers:
  • An increase in the number of vehicles and inadequate resources.

As the urban population grows, so does traffic congestion. Traffic is a byproduct of the way modern civilization runs. The great majority of individuals in the United States, for example, utilize private automobiles for two main reasons. One reason is that mostof Americans live in smaller regions with little access to public transportation. Secondly, privately operated automobiles are both pleasant and efficient. In the United States, about 87.9 percent of people utilize private transportation, which contributes to road congestion. As income levels grow across the world, an increasing number of individuals are shifting away from slower, less costly means of transportation and toward privately owned vehicles and trucks. Progressed countries such as the United States, Germany, and the United Kingdom are launching a slew of measures to encourage people to utilize public transit. As a result, developments in the intelligent traffic management industry are likely to increase in the next years due to the necessity to upgrade the current transportation system and develop ICT systems.

Restraints:
  • Sluggish growth in the infrastructural development.

The traffic control system requires a fast data speed for real-time data processing. As a result of this necessity, the infrastructure required to deploy new technologies is not expanding at the same rate. The high expense of replacing current equipment necessitates significant expenditures. Various countries' governments limit their opportunity to invest in the road network. The existence of the current infrastructure allows traffic management businesses to approach the governments of various nations to improve the traffic system and reduce traffic congestion in their country. The traffic management system also necessitates constant system and infrastructure upgrades. More investments in traffic control technologies would have an impact on the country's liquidity, impacting traffic management.

Opportunities:
  • Creating smart automobiles that are functional with technological advancements.

Carmakers are gradually developing the market for self-driving cars by initially selling linked and partially automated vehicles. GPS and sensor technology such as sonar and infrared are used by self-driving automobiles to perceive their surroundings. These vehicles' advanced control systems analyze sensory data to determine acceptable navigation courses, as well as blind spots, obstructions, and important signs. As driver assistance technologies become more advanced, autonomous driving is projected to rise in popularity. Several technological behemoths, such as Google and Microsoft, as well as major automakers, such as BMW, Daimler, Volkswagen, Tesla, Audi, and Volvo, are projected to release fully autonomous vehicles by 2025. ZF Friedrichshafen AG is working on an advanced urban car, an option for individual urban transportation in the small and subcompact classes. Mobility-as-a-service provides value-added traveler services by accessing the mobility payment method through a single platform rather than several tickets and payment activities. Traffic control and movement as a service are two critical solutions that can help to structure and control the system more efficiently. In the MaaS world, implementing integrated transportation traffic management allows the traffic control system to operate at maximum capacity and with an optimized mobility system that relies on multichannel, smooth, adaptable, dependable, user-friendly, cost, and ecologically responsible travel.

Challenges:
  • Data fusion is complicated by the presence of several sensors and interfaces.

Data fusion is used to combine data from numerous endpoints and devices. It aids in the reduction of blind spots and complications in measurement systems. Many sensors are used in traffic control systems, including loop detectors, ultrasound waves detection systems, pedestrian detectors, and webcams. All of this generates massive volumes of data. Biosynthesis and combining all of the raw data provided by various touchpoints to acquire important traffic information such as speed, trip durations, and congestion is a tough process that might lead to structural failure. As a result, installing a multi-sensor data fusion solution that combines all recorded signals to produce a more knowledgeable atmosphere for congestion control offers a significant difficulty.

Segmentation Analysis:

The global intelligent traffic management system market has been segmented based on solution, spender type, components, and regions.

  • The solution segment is divided into traffic monitoring system, traffic enforcement cameras, traffic signal control system, intelligent driver information system, integrated corridor management. In 2021, intelligent driver information system dominated the market with the largest market share of around 22.1%. This is a critical answer to the problem of road traffic accidents. Another notable characteristic of IDIS is driver-assist control, which adjusts the vehicle's speed in relation to the car in front of it. This approach will almost certainly be enhanced when more sophisticated steering aids are introduced to automobiles.
  • The spender type segment is divided into infrastructure enterprises & PPPs, industries & commercial enterprise, federal & provincial government. In 2021, industries & commercial enterprise accounted for the largest share of the market with 36.12%. The aspects that may be credited as improving the movement on roads regulated by traffic signals, resulting in less overcrowding and sparing drivers time and fuel, are driving the market for this category.
  • The components segment is divided into traffic controllers & signals, video walls, surveillance cameras. The surveillance cameras accounted for the largest market share with 35% for intelligent traffic management system in 2021. Surveillance camera software transforms any traffic surveillance camera into a network of sensing devices. This program is specifically developed to digitally analyze encrypted video streams from highway speed cameras in order to identify events and gather real-time traffic statistics.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific region emerged as the largest market for the global Intelligent Traffic Management System market with a 37.4% share of the market revenue in 2021.

  • Increased urbanization in Countries in the Asia Pacific has resulted in transportation congestion. The need for improved traffic coordination and monitoring in APAC economies like India and China, and government efforts and expenditures supporting smart city initiatives, are expected to boost the market for the APAC traffic management system market.
  • The intelligent traffic management systems market in Asia-Pacific is quickly developing due to the rising demand for traffic management systems in countries like Japan, China, Australia, and Singapore. Several APAC nations, particularly Japan, Singapore, China, and Australia, have started to use intelligent traffic management systems in order to minimize road congestion, pollution, and Greenhouse gases.

Asia Pacific Region Intelligent Traffic Management System Market Share in 2021 - 37.4%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global intelligent traffic management system industry.

Yunex Traffic, a Siemens affiliate, has expanded its relationship with HERE Technologies, a worldwide company that deals with navigation, location information, and associated vehicle services, in October 2021. Through this expanded relationship, the firms hoped to offer preventative traffic management options to governments and public transportation organizations.

TomTom signed a multi-year collaboration with GreenMile, a logistics software company, in June 2021. Under the terms of the deal, TomTom would incorporate its TomTom Maps APIs with GreenMile's solutions to help 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.

Kapsch TrafficCom signed a deal with a Plenary construction firm in June 2021. The purpose of this contract was to establish a toll collecting system at the Louisiana Highway. These technologies would be implemented for the Louisiana Transportation department and development to providecontemporary facilities and operating excellence to improve Louisiana drivers' travel destinations.

Cubic Transportation Systems, a division of Cubic Corporation, has formed a relationship with CVEDIA, a developer of artificial intelligence solutions, in June 2021. CVEDIA would contribute its synthetic innovation to Cubic Corporation's GRIDSMART products as part of this collaboration, with the goal of improving the deep neural networks for its omnidirectional sensors and other advanced transportation networks technologies.

List of Key Market Players:

  • Cubic Corporation
  • Thales Group
  • SNC-Lavalin Group (Atkins)
  • General Electric Company
  • International Business Machines Corporation
  • Kapsch TrafficCom
  • Siemens AG

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm

Report Description:

  • Global Intelligent Traffic Management System Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered as the base year of the report. 2019 and 2020 are considered as the historical years, and 2022 to 2030 are the forecast years. The global Intelligent Traffic Management System market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each segment, region, and country catering to the global Intelligent Traffic Management System market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of intelligent traffic management system based on solution, spender type, components, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to the global intelligent traffic management system market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers a detailed study for the company profiles of key organizations operating in the global intelligent traffic management system market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of porter's five forces analysis coupled with SWOT analysis to provide business-related data and pieces of information. Porter's five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development, which influences the company's growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market-related driving factors, growth limitations (restraints), potential industry opportunities, significant trends, and development which act as a key potential for the investors.
  • Potential growth prospects and the product's penetration rate analysis (market-related, i.e., global intelligent traffic management system market) are covered to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the intelligent traffic management system market was valued at USD 10.1 billion in 2021 to USD 31.07 billion by 2030.

Global Intelligent traffic management system market is growing at a CAGR of 13.3% during the forecast period 2022-2030.

The global intelligent traffic management system market has been segmented based on solution, spender type, components and regions. In 2021, intelligent driver information system dominated the market with the largest market share.

Asia Pacific region emerged as the largest market for the intelligent traffic management system.

The market's growth will be influenced by an increase in the number of vehicles and inadequate resources.

Sluggish growth in the infrastructural development could hamper the market growth.

Creating smart automobiles that are functional with technological advancements will provide huge opportunities to the market.

Key players are Cubic Corporation, Thales Group, SNC-Lavalin Group (Atkins), General Electric Company, International Business Machines Corporation, Kapsch TrafficCom, Siemens AG.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Solution
          4.3.2. Market Attractiveness Analysis By Spender Type
          4.3.3. Market Attractiveness Analysis By Components
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. An increase in the number of vehicles and inadequate resources
    5.3. Restraints
          5.3.1. Sluggish growth in the infrastructural development
    5.4. Opportunities
          5.4.1. Creating smart automobiles that are functional with technological advancements
    5.5. Challenges
          5.5.1. Data fusion is complicated by the presence of several sensors and interfaces

6. Global Intelligent Traffic Management System Market Analysis and Forecast, By Solution
    6.1. Segment Overview
    6.2. Traffic Monitoring System
    6.3. Traffic Enforcement Cameras
    6.4. Traffic Signal Control System
    6.5. Intelligent Driver Information System
    6.6. Integrated Corridor Management

7. Global Intelligent Traffic Management System Market Analysis and Forecast, By Spender Type
    7.1. Segment Overview
    7.2. Infrastructure Enterprises & PPPs
    7.3. Industries & Commercial Enterprise
    7.4. Federal & Provincial Government

8. Global Intelligent Traffic Management System Market Analysis and Forecast, By Components
    8.1. Segment Overview
    8.2. Traffic Controllers & Signals
    8.3. Video Walls
    8.4. Surveillance Cameras

9. Global Intelligent Traffic Management System Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Intelligent Traffic Management System Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Intelligent Traffic Management System Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Cubic Corporation
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Component Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Thales Group
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Component Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. SNC-Lavalin Group (Atkins)
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Component Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. General Electric Company
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Component Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. International Business Machines Corporation
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Component Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Kapsch TrafficCom
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Component Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Siemens AG
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Component Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
 

List of Table

1. Global Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

2. Global Traffic Monitoring System Intelligent Traffic Management System Market, By Region, 2019-2030 (USD Billion) 

3. Global Traffic Enforcement Cameras Intelligent Traffic Management System Market, By Region, 2019-2030 (USD Billion) 

4. Global Traffic Signal Control System Intelligent Traffic Management System Market, By Region, 2019-2030 (USD Billion) 

5. Global Intelligent Driver Information System Intelligent Traffic Management System Market, By Region, 2019-2030 (USD Billion)

6. Global Integrated Corridor Management Intelligent Traffic Management System Market, By Region, 2019-2030 (USD Billion)

7. Global Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

8. Global Infrastructure Enterprises & PPPs Intelligent Traffic Management System Market, By Region, 2019-2030 (USD Billion) 

9. Global Industries & Commercial Enterprise Intelligent Traffic Management System Market, By Region, 2019-2030 (USD Billion) 

10. Global Federal & Provincial Government Intelligent Traffic Management System Market, By Region, 2019-2030 (USD Billion) 

11. Global Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

12. Global Traffic Controllers & Signals Intelligent Traffic Management System Market, By Region, 2019-2030 (USD Billion) 

13. Global Video Walls Intelligent Traffic Management System Market, By Region, 2019-2030 (USD Billion) 

14. Global Surveillance Cameras Intelligent Traffic Management System Market, By Region, 2019-2030 (USD Billion) 

15. Global Intelligent Traffic Management System Market, By Region, 2019-2030 (USD Billion) 

16. North America Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

17. North America Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

18. North America Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

19. U.S. Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

20. U.S. Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

21. U.S. Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

22. Canada Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

23. Canada Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

24. Canada Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

25. Mexico Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

26. Mexico Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

27. Mexico Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

28. Europe Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

29. Europe Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

30. Europe Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

31. Germany Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

32. Germany Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

33. Germany Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

34. France Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

35. France Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

36. France Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

37. U.K. Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

38. U.K. Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

39. U.K. Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

40. Italy Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

41. Italy Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

42. Italy Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

43. Spain Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

44. Spain Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

45. Spain Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

46. Asia Pacific Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

47. Asia Pacific Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

48. Asia Pacific Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

49. Japan Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

50. Japan Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

51. Japan Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

52. China Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

53. China Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

54. China Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

55. India Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

56. India Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

57. India Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

58. South America Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

59. South America Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

60. South America Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

61. Brazil Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

62. Brazil Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

63. Brazil Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

64. Middle East and Africa Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

65. Middle East and Africa Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

66. Middle East and Africa Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

67. UAE Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

68. UAE Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

69. UAE Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

70. South Africa Intelligent Traffic Management System Market, By Solution, 2019-2030 (USD Billion) 

71. South Africa Intelligent Traffic Management System Market, By Spender Type, 2019-2030 (USD Billion) 

72. South Africa Intelligent Traffic Management System Market, By Components, 2019-2030 (USD Billion) 

List of Figures 

1. Global Intelligent Traffic Management System Market Segmentation

2. Intelligent Traffic Management System Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Intelligent Traffic Management System Market Attractiveness Analysis By Solution

9. Global Intelligent Traffic Management System Market Attractiveness Analysis By Spender Type

10. Global Intelligent Traffic Management System Market Attractiveness Analysis By Components

11. Global Intelligent Traffic Management System Market Attractiveness Analysis By Region

12. Global Intelligent Traffic Management System Market: Dynamics

13. Global Intelligent Traffic Management System Market Share By Solution (2022 & 2030)

14. Global Intelligent Traffic Management System Market Share By Spender Type (2022 & 2030)

15. Global Intelligent Traffic Management System Market Share By Components (2022 & 2030)

16. Global Intelligent Traffic Management System Market Share by Regions (2022 & 2030)

17. Global Intelligent Traffic Management System Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global intelligent traffic management system market based on below mentioned segments:

Global Intelligent Traffic Management System Market by Solution:

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

Global Intelligent Traffic Management System Market by Spender Type:

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

Global Intelligent Traffic Management System Market by Components:

  • Traffic Controllers & Signals
  • Video Walls
  • Surveillance Cameras

Global Intelligent Traffic Management System Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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