The global integrated traffic systems market was valued at US$ 23.56 Bn in 2021 and is anticipated to grow to US$ 44.01 Bn expanding at a CAGR of 7.2% during the forecast period from 2023 to 2030. For decades, the proliferating complexities of urban traffic has been forcing city planners and government authorities to find smarter ways to control the traffic. Government authorities are inclined towards traffic management solutions that improve mobility by reducing traffic congestion, ensure road safety and above all limits serious environmental damage due to increased pollution. Systematic improvements in traffic management is one of the prominent solutions to address the on-going challenge of urban dependence on transport. Integrated traffic system aims at improving the effectiveness and efficiency of traffic system.

Traffic Monitoring to Dominate; Traffic Control set to Register Maximum Growth throughout the Forecast Period

Based on application, the global integrated traffic system market is categorized into traffic monitoring, traffic operation and traffic control. Traffic Monitoring, being one of the most important application is dominant and is expected to register significant growth throughout the forecast period. This is due to the information gathered by the use of traffic monitoring systems, providing benefits including road safety, real-time traffic observation, and reducing vehicle-related crimes among others. It helps in avoiding illegal driving practices, tracking and penalizing based on vehicle registration number. Lack of state-of-the-art transport infrastructure in both developed and developing economies are propelling the development of new and advanced technologies. In contrast, traffic control systems provides advanced solutions to improve traffic flow in the urban areas. Through optimum usage of transport infrastructure, traffic control systems such as advanced traffic light controllers and parking systems among others, are providing more efficient utilization of mobility networks, improved traffic safety and reduced environmental impact. As a result of these factors, the integrated traffic systems market growth is bolstered.

Europe Dominates followed by North America; Asia Pacific Touted to Register Highest Growth during the Forecast Period

In 2021, Europe was the largest value contributing region to the global integrated traffic system market trailed by North America. Europe is expected to grow steadily during the forecast period from 2023 to 2030. This is due to the presence of state-of-the-art infrastructure and the early adoption of technology in countries such as Germany, the U.K. among others. In contrast, Asia Pacific region is anticipated to register fastest growth during the forecast period on the back of large investments made by multiple organizations, rapid urbanization among others. The demand for integrated traffic systems in Asia Pacific is propelled due to rising emphasis on safety and focus on emission free environment in developing countries such as China, and India.

Some of the leading manufacturers profiled in the study include Sumitomo Electric Industries, Citilog SA, Cubic Corporation, Siemens, EFKON India pvt. Ltd., Imtac LLC, Intelvision Technologies Ltd., Iteris, Inc., Nuance Communications, Inc., Savari, Inc., Thales Group S.A, TransCore LP, and Swarco Holding among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Integrated Traffic System market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Integrated Traffic System market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Integrated Traffic System market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Integrated Traffic System market?
• Which is the largest regional market for Integrated Traffic System market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Integrated Traffic System market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Integrated Traffic System market worldwide?