GVR Report cover Intelligent Traffic Management System Market Size, Share, & Trends Report

Intelligent Traffic Management System Market Size, Share, & Trends Analysis Report By Solution (Traffic Monitoring System, Traffic Signal Control System), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-2-68038-907-4
  • Number of Report Pages: 150
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Technology

Report Overview

The global intelligent traffic management system market size was valued at USD 10,423.7 million in 2022 and it is expected to expand at a 13.8% compound annual growth rate (CAGR) from 2023 to 2030. The growth of the market can have attributed to the growing demand for real-time traffic information to passengers, and drivers, along with an increased number of vehicles on the road. Furthermore, insufficient infrastructure and rising government initiatives for effective traffic management also remain key drivers of growth.

U.S. intelligent traffic management system market size, by solution, 2020 - 2030 (USD Billion)

The outbreak of the COVID-19 pandemic has severely affected the intelligent traffic management system industry in terms of new sales, and installations and several major manufacturers have suspended their operations temporarily due to disruptions in the supply of components. Simultaneously, the existing ITMS installation across the globe are being used effectively to keep demand afloat. The pandemic had a significant economic impact on various companies, buyers, suppliers, and the market is anticipated to continue to face challenges in the initial phase of 2023.

The market is expected to gain immense traction during the rest of 2022, the growth is expected to be irregular irrespective of the pandemic outbreak. While the demand is not likely to decrease outright, project delays and shifts in different product segments are expected to be inevitable. With improved traffic effectiveness, the intelligent traffic management system market grows over the forecast period. Hence, the post-pandemic era is anticipated to offer lucrative growth opportunities for the incumbents of the ITMS market.

An intelligent traffic management system ensures traffic flow, road safety, and mobility. One of the key factors driving demand for intelligent traffic management systems is the growing development of smart cities. Improved traffic efficiency allows transportation authorities to respond to emergencies faster. Further, the increased use of public transportation can aid in the reduction of carbon dioxide emissions and airborne pollutants for developing smart cities. Moreover, these traffic management solutions also provide real-time data for the analysis and response to emergencies on an immediate basis. These benefits offered by ITMS would further supplement the growth of the market during the forecast period.

Countries across the globe are putting effort into modifying their traffic management infrastructure to reduce traffic congestion. Moreover, the adoption of telematics services in vehicles has a significant impact on security and safety. These services enhance driver safety, reduce fuel consumption, improve driver behavior, and enable cost reduction. Telematics tracking systems are widely deployed in cars, which include accessing and activating vehicles remotely using Radio Frequency Identification (RFID). These factors are estimated to fuel growth opportunities in the intelligent traffic management system market.

The growing urban population and rapid industrialization have increased the number of vehicles on the road, causing heavy traffic congestion. As a result, safety concerns for urban planners and high levels of CO2 emissions are expected to have a significant impact on the growth of the intelligent traffic management system market. According to the European Joint Research Centre (JRC), road congestion in Europe costs around 1% of the region's Gross Domestic Product (GDP). Most urban infrastructure development and management bodies in the region have made mitigation their top priority. Further, the intelligent traffic management system also facilitates smart mobility solutions, which can play an important role in addressing all of these issues and solutions while also promoting the growth of the ITMS market.

Solution Insights

The traffic monitoring system segment accounted for a market share of 21.7% in 2022. Inadequate signal controls can lead to road congestion and increase the overall travel time to a large extent. The favorable government initiatives to develop traffic infrastructures, the emergence of smart city projects, and the growth of adaptive intelligent traffic controls & analytics are key factors in deploying traffic monitoring systems. Furthermore, rising traffic congestion and vehicle pollution have accelerated the need for Mobility as a Service (MaaS), which is anticipated to drive market growth over the forecast period.

The traffic signal control system segment is expected to grow at considerable CAGR of 14.0% over the forecast period owing to the data storage facilities, availability of highly reliable and low-cost sensors, and computing and networking infrastructure. Governments and businesses around the globe are exhibiting an optimistic transition toward smart transportation that complements transportation networks for the smart city.

Global intelligent traffic management system market share, by solution, 2022 (%)

Municipalities are seeking novel ways to minimize traffic congestion in smart cities across the globe by implementing an intelligent traffic management system and designing traffic signal control systems. Moreover, the intelligent traffic management system supports a wide variety of smart city applications such as ensuring a safe passage of emergency vehicles by Emergency Vehicle Signal Preemption (EVSP) in traffic signals, Smart Traffic Signal Control (STSC), and prioritizing public transport at traffic signals, eco-driving. These advantages offered by ITMS would further drive the segment growth during the forecast period.

Regional Insights

North America held the major share of 38.0% in 2022 of the global intelligent traffic management system market. The United States Department of Transportation (DOT) is aggressively investing in research and development, implementation, and adoption of intelligent traffic management systems across the country. The strong emphasis of various government initiatives in the region is improving transportation infrastructure is driving the adoption of intelligent traffic management systems.

Intelligent Traffic Management System Market Trends by Region

Advances in communication technologies and addressing vehicular congestion for improved transport capacity effectiveness through real-time exchange are predicting a revolution in the region's transportation network. Further, the growing adoption of mobile and radio devices featuring short-range dedicated technology enables drivers across the region, driving the demand for ITMS solutions during the forecast period.

The Asia Pacific region is expected to grow at a significant CAGR of 17.5% during the forecast period. According to United Nations (UN) 2018 world population prospects, Asia's population is likely to reach 5.26 billion by 2050, and around 64% of the region's population is expected to become urban. To reduce the burden of the region’s decreasing land-carrying capacity, governments in the region are focusing on improving the overall physical infrastructure. Transporting is a crucial aspect of the physical infrastructure.

The demand for intelligent traffic management system is expected to increase significantly in key countries including China, Japan, South Korea, and India, which are anticipated to lead the ITMS market. Furthermore, the initiatives undertaken by government bodies in the region are expected to fuel the growth of the market. For instance, in April 2022, the Indian government launched the Onboard Driver Assistance Warning System (ODWAS), a bus signal priority system, which incorporates vehicle-borne sensors to monitor vehicle surroundings driver propensity that sends visual alerts. Further, the system also involves such as driver assistance console, navigational control, and radar sensor.

Key Companies & Market Share Insights

The key players operating in the intelligent traffic management system market include Cubic Corporation; SNC-Lavalin Group (Atkins); Thales Group; International Business Machines Corporation; General Electric Company; Siemens AG; Kapsch TrafficCom; and TomTom International BV. Market players are investing aggressively in research & development activities, improving their internal processes, actively engaging in new product development, and improving their existing products and services as part of their efforts to acquire new customers and increase their respective market shares. They also focus on mergers & acquisitions and strategic partnerships to develop technologically advanced products and gain a competitive edge in the market.

For instance, in September 2022, Cubic Corporation, a public transportation company, extended its partnership with New England Traffic Solutions (NETS), a technology provider of vehicular traffic. With this extended partnership, NETS would offer traffic management solutions, which enables agencies to enhance their current traffic control structure into a transportation system management solution. Some prominent players in the global intelligent traffic management system market include:

  • Cubic Corporation

  • SNC-Lavalin Group (Atkins)

  • Thales Group

  • International Business Machines Corporation

  • General Electric Company

  • Siemens AG

  • Kapsch TrafficCom

  • TomTom International BV

  • Q-Free ASA

  • TransCore

Intelligent Traffic Management System Market Report Scope

Report Attribute


Market size value in 2023

USD 11.31 billion

Revenue forecast in 2030

USD 27.92 billion

Growth rate

CAGR of 13.8% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Solution, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; Germany; U.K.; France; Italy; Spain; Denmark; Sweden; Norway; China; India; Japan; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; Kuwait; UAE

Key companies profiled

Cubic Corporation; SNC-Lavalin Group (Atkins); Thales Group; International Business Machines Corporation; General Electric Company; Siemens AG; Kapsch TrafficCom; TomTom International BV; Q-Free ASA; TransCore

Customization scope

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Global Intelligent Traffic Management System Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global intelligent traffic management system market report based on solution and region:

Global Intelligent Traffic Management System Market Segmentation

  • Solution Outlook (Revenue, USD Million, 2018 - 2030)

    • Traffic Monitoring System

    • Traffic Signal Control System

    • Traffic Enforcement Camera

    • Integrated Corridor Management

    • Intelligent Driver Information System

    • Others

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

      • Denmark

      • Sweden

      • Norway

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

      • Thailand

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa (MEA)

      • South Africa

      • Saudi Arabia

      • UAE

      • Kuwait

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