North America Intelligent Traffic Management System Market Size, Share & Trends Analysis Report By Solution (Integrated Corridor Management, Intelligent Driver Information System), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The North America intelligent traffic management system market size was valued at USD 3.73 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.5% from 2022 to 2030. The increasing demand to reduce traffic congestion and improve road safety are some factors contributing to the market growth. Due to the outbreak of the COVID-19, the region has severely affected the market in terms of new sales, and installations. Several major system manufacturers have temporarily held their business operations due to disruptions in the supply chains. Simultaneously, the existing Intelligent Traffic Management System (ITMS) installations are being used effectively to keep demand afloat.

The role of state and local governments is also vital in introducing new technologies to ITMS solutions. The governments are aggressively investing in several smart traffic systems that prevent traffic jams, which is driving the regional demand. For instance, in June 2020, Cubic Transportation Systems, a transportation and traffic management company, signed an agreement with the city of Merida, under the Yucatan State Government, Mexico, to deploy the Advanced Traffic Management System (ATMS) central management platform, transit signal priority software, and controllers, in the city. The implementation of these traffic management systems will further boost the demand for intelligent traffic management systems during the forecast period.

The deployment of advanced safety systems, such as vehicle-to-infrastructure and vehicle-to-vehicle communication, is boosting the regional market’s prospects. These traffic management systems provide travelers with real-time information about road conditions, construction zones, and public transport schedules, thereby improving overall road safety and reducing travel time. Further, it has increased the demand for cutting-edge technologies to improve automotive and transportation infrastructure, resulting in a favorable environment for smart traffic management systems. These factors will supplement the growth of the North America ITMS market during the forecast period.

Countries across the region are putting effort into transforming their traffic management infrastructure to reduce traffic congestion. Further, the growing adoption of telematics services in vehicles has a major impact on security and safety. Telematics tracking systems are broadly deployed in vehicles; which access activate vehicles remotely using Radio Frequency Identification (RFID). These services improve driver behavior, enhance driver safety, enable cost reduction, and reduce fuel consumption. For instance, in January 2018, Robert Bosch GmbH developed a telematics plug, eCall Plug, a sensor device that is used to detect crashes and analyze driving behavior. These factors are estimated to fuel the growth of the market.

The growing urban populations and fast industrial expansion have upped the number of cars on the road, causing considerable traffic congestion problems. As a result, high levels of carbon dioxide emission and safety issues for urban planners are expected to significantly impact the growth of the intelligent traffic management system market. Furthermore, several regional urban infrastructure developments and management authorities in the region have made mitigation their top priority. They may play a significant part in tackling all of these difficulties and solutions, as well as stimulating market growth.

Solution Insights

The traffic monitoring system segment accounted for a market share of 21.9% in 2021. The growth can be attributed to the growth of adaptive traffic controls & analytics, the emergence of smart city projects, transportation systems efficiency, increasing economic productivity, and promising government initiatives to develop traffic infrastructures. Inadequate signal controls contribute considerably lead to road congestion and increase the overall travel time to a large extent, which has accelerated the need to adopt Mobility as a Service (MaaS). These factors will supplement the growth of the segment during the forecast period.

The traffic signal control system segment is expected to grow at a considerable CAGR of 11.8% during the forecast period. The availability of extremely dependable and low-cost sensors, as well as computer and networking infrastructure, is boosting the growth of the segment. Governments and businesses around the region are displaying a promising transition toward smart mobility that complements smart city transportation networks. Furthermore, the governments are primarily looking for innovative ways to alleviate traffic congestion in smart cities by implementing intelligent traffic management systems and the construction of traffic light control systems. These factors will contribute to the segment's growth throughout the forecast period.

Country Insights

The U.S. accounted for 75.0% of the total market share in 2021. The growth can be attributed to the strong emphasis of the country’s governments on improving public transportation infrastructure and the need for presenting real-time information to drivers and passengers. For instance, The United States Department of Transportation (DOT) has been aggressively investing in R&D, implementation, and adoption of ITMS in the country.

Furthermore, advancements in communication technologies, tackling vehicular congestion for improved efficiency of transport capacity through the real-time exchange, and the rising adoption of radio and mobile devices featuring short-range dedicated technology enables drivers across the region, are driving the demand for intelligent traffic management systems solutions.

The Canada ITMS market is expected to grow at a significant CAGR of 12.5% during the forecast period. The growth of the market in the country can be attributed to the improving infrastructure for road safety through Vehicle-to-Infrastructure (V2I) and Vehicle-to-Vehicle (V2V) and the growing adoption of cloud computing and data analytics in traffic management.

For instance, in May 2018, the Canadian government invested USD 6.9 million, to improve Yukon’s Intelligent Transportation Systems. The project modernized various components of ITS architecture: commercial vehicle operations support; ITS enablers; traffic monitoring systems; and advanced traveler information management systems.

Moreover, this project has increased the fluidity of Canadian trade across the globe through airports, roads, intermodal facilities, and bridges, among others. These initiatives by the government will further boost the demand for traffic management systems in the region during the forecast period.

Key Companies & Market Share Insights

The dominant players operating in the digital experience platform market include Siemens Mobility; Thales; TomTom International BV; Hitachi Vantara Corporation; and Kapsch TrafficCom AG; International Business Machines Corporation, among others. Market players are observed to invest resources in R&D activities to support growth and enhance their internal business operations. Companies can be seen engaging in mergers & acquisitions and partnerships to further upgrade their products and gain a competitive advantage in the market. They are effectively working on new product development, and enhancement of existing products to acquire new customers and capture more market shares.

For instance, in March 2021, Siemens Mobility and Robert Bosch GmbH, an engineering and technology company, launched a vehicle collective perception system, which is directly connecting the IP video cameras and dual-mode Roadside Unit (RSU). The system was tested at the American Center for Mobility in DOT Connected Vehicle Pilot at Tampa Hillsborough Expressway Authority (THEA). This integrated system would help in pedestrian collision detection and wrong-way vehicle detection. Moreover, the solution provides situational awareness to drivers and enables them to take more immediate action when pedestrians are entering a crosswalk. The system is currently installed in Tampa (Florida), New York, and Madison. Some prominent players in the North America intelligent traffic management system market include:

• Cubic Corporation

• SNC-Lavalin Group (Atkins)

• Thales Group

• International Business Machines Corporation

• General Electric Company

• Siemens Mobility

• Kapsch TrafficCom

• TomTom International BV

• Hitachi Vantara Corporation

• TransCore

North America Intelligent Traffic Management System Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the North America intelligent traffic management system market report based on solution and region:

• Solution Outlook (Revenue, USD Million, 2017 - 2030)

  • Traffic Monitoring System

  • Traffic Signal Control System

  • Traffic Enforcement Camera

  • Integrated Corridor Management

  • Intelligent Driver Information System

  • Others (Traffic Analytics, Smart Surveillance, and Route Guidance and Route Optimization)

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico