North America Intelligent Traffic Management System (ITMS) Market Report

North America Intelligent Traffic Management System (ITMS) Market Analysis Report By Solution Type (Traffic Monitoring System, Traffic Signal Control System, Intelligent Driver Information System), And Segment Forecasts, 2018 - 2024

  • Published Date: Mar, 2018
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-343-0
  • Format: Electronic (PDF)
  • Historical Data: 2013 - 2016
  • Number of Pages: 100

Industry Insights

The North America intelligent traffic management system (ITMS) market size was estimated at USD 3.3 billion in 2016. Increasing demand to reduce traffic congestion and improve road safety is expected to be a key factor driving market growth.

Addressing vehicular congestion for better utility of transportation capacity through the exchange of real-time information on traffic conditions and infrastructure is expected to drive the market for ITMS. The Advanced Transportation and Congestion Management Technologies Deployment Initiative by the U.S. Department of Transportation has proven to be a milestone in assisting public transportation system operators.

North America ITMS market

Deployment of advanced safety systems, including vehicle-to-infrastructure and vehicle-to-vehicle communication, technologies associated with collision avoidance technologies, and autonomous vehicles including systems using cellular technology is anticipated to drive the market over the forecast period.

Rapid decline in the cost of telecommunication and evolution of IT systems are expected to reduce congestion charges. Traffic control strategies have become focused on real-time data while also addressing impact criteria such as emission control. Integration of ITS with SmartGrid and other energy distribution and charging systems is expected to provide better information related to potential transportation-user demand to distribution agencies.

Demand for dynamic traffic management systems that stimulate data gathered by multiple cameras, sensors, and software has grown exponentially. The system also helps operators control traffic logistics cost, eliminating security risks, and mitigating challenges associated with traditional systems.

Solution Type Insights

Traffic management systems helps control and monitor traffic signals to reduce congestion and ensure smooth traffic flow. Usage of ITMS to reduce road accidents and increase safety is expected to boost market growth. Moreover, growing government initiatives to improve traffic flow, increase transportation system efficiency, increase economic productivity, enhance mobility, and reduce negative environmental effects are likely to support the market. For instance, in June 2016, the Texas Transportation Commission announced the approval of a USD 1.3 billion plan to reduce vehicular congestion in the most congested roadways in Texas. According to the commission, on an average, a Texas driver wastes 52 hours annually stuck on the road, which costs over USD 1,200 annually.

Soaring demand for Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) communication to enhance road safety is expected to gain momentum over the next few years in the region and this is further expected to drive market growth. V2V and V2I technologies are used for sharing information to enhance safety through driver awareness, improving intersection condition, and augment signal timing.

North America ITMS market

The intelligent driver information systems segment is expected to be register the fastest growth at an estimated CAGR of 18.4% from 2017 to 2024. This system is used for increasing operational efficiency public transit systems as well as boosting overall safety. The application includes bus arrival notification systems, real-time passenger information systems, and automatic vehicle location systems.

Traffic signal control systems/dynamic traffic signal control systems consist of signal display and a detector unit. The detectors are further classified into inductive loop detector and sensors mounted on the pole. Bad signal controls contribute significantly to congestion as well as increase in overall travel time to a large extent. ITMS helps in detecting accidents, roadway hazards, and dangerous weather conditions, and creates a holistic integrated view of overall traffic flow. They are integrated with existing traffic control systems, which mainly help in reducing congestion and ensuring efficient use of road space.

Regional Insights

U.S. was the leading regional segment in the North America intelligent traffic management system (ITMS) market and accounted for around 85.66% of the total revenue in 2016. Need for presenting real-time information to drivers and passengers is one of the key reasons behind the increasing demand for ITMS. Improved traffic efficiency enables transportation authorities to respond to emergency incidents more quickly. Usage of such systems maximizes efficiency in traffic management and shortens travel duration.

Use of public transportation results in reduction of airborne pollutants and carbon dioxide emissions. Intelligent transportation systems contribute to reduction in consumption of fuels and greenhouse gas emissions by preventing cars from remaining in idle position and reducing vehicular congestion. For example, in April 2016, the U.S. Department of Energy and Transportation announced a collaboration to accelerate the research and development of innovative smart transportation systems and alternative fuel technologies.

North America Intelligent Traffic Management System (ITMS) Insights

The market for ITMS in North America is rather competitive owing to presence of a large number of players offering various products and services in the region. Key industry competitors include Siemens AG; Cubic Corporation; Kapsch TrafficCom AG; Q-Free ASA; TransCore, LP; and Iteris, Inc.

Major industry participants are investing in R&D activities to develop sustainable, market-oriented solutions and systems with an innovative edge. Moreover, companies are also relying on acquisitions and partnerships to strengthen their position in the market. For instance, in January 2017, Kapsch TrafficCom AG acquired Fluidtime Data Services GmbH. Through this acquisition, Kapsch strengthened its position as a platform and service provider for upcoming Mobility-as-a-Service (MaaS) schemes for cities, corporations, and transport agencies.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2013 - 2016

Forecast period

2017 - 2024

Market representation                                                  

Revenue in USD Million and CAGR from 2013 to 2024

Regional scope

North America

Country scope

U.S., Canada

Report coverage              

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

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Segments Covered in the Report

This report forecasts revenue growth at regional and country levels and provides an analysis on latest industry trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the North America intelligent traffic management system (ITMS) market report on the basis of solution type and region.

  • Solution Type Outlook (Revenue, USD Million, 2013 - 2024)

    • Traffic Monitoring Systems

    • Traffic Signal Control Systems

    • Traffic Enforcement Camera

    • Integrated Corridor Management (ICM)

    • Intelligent Driver Information Systems

    • Others

  • Regional Outlook (Revenue, USD Million, 2013 - 2024)

    • North America

      • U.S.

      • Canada

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