Integrated Traffic Systems Market By Function (Traffic Monitoring, Traffic Control, Information Provision and Analysis), By Hardware Type (Surveillance Cameras, Boards, Radars and Sensors, Others), By Application (Urban Traffic, Highways): Global Opportunity Analysis and Industry Forecast, 2023-2032
Integrated traffic systems market are diverse and interconnect systems that are optimally designed to control the flow of traffic. In addition, it improves passenger safety and enhances the competence of the overall transportation industry. ITS utilizes various hardware and software to gather the data and then analyze it to optimally manage the traffic flow and control the traffic. Furthermore, the system improves productivity by effectively scheduling routes, delivering traffic updates, and forecasting the time of arrival & and departure. Thus, Benefitting the environment by helping to reduce carbon emissions from vehicles, reducing congestion, and reducing accidents.
Integrated traffic systems are comprehensive surveillance and control systems that are equipped with hardware such as CCTV, radars, display boards, traffic signals, and others. This system works collectively and enable live monitoring and control of traffic. In addition, ITS is useful in case of emergency response by providing optimal routes for emergency vehicles.
The market growth is driven by rise in global traffic congestion and traffic jams, growing public–private partnerships for the development of the integrated traffic system technology, and an increase in government focus on reducing CO2 emission from vehicles. However, high technology cost is anticipated to hinder the market growth during the forecast period. Furthermore, the growth of autonomous and connected vehicles and the improvement of high-speed internet and communications technologies is anticipated to create lucrative market growth opportunities for the companies operating in the market.
Rapid industrialization and expanding global trade activities lead to increase in wealth among major countries across the world. The increased influx of wealth has resulted in countries spending more on enhancing their roadways and infrastructural development. In addition, due to upsurge in commerce activities, there was huge migration of people from rural areas to urban areas especially in developing countries of Asia-Pacific and Latin America region. The rise in population in cities resulted in increase in transit time and traffic congestions leading to surge in strain on the existing infrastructure creating demand for integrated traffic system.
For the purpose of analysis, the global integrated traffic system market has been segmented into function, hardware, and application. Based on function the integrated traffic system market has been bifurcated into traffic monitoring, traffic control and information provision and analysis. On the basis of hardware, the market has been segmented into surveillance cameras, boards, radars and sensors and others. Based on application, the market has been analyzed across urban traffic and highways.
The leading players operating in the market are Kapsch TrafficCom AG, Siemens AG, Cubic Transportation Systems, Inc., Swarco, Teledyne Flir LLC, Jenoptik, Sumitomo Electric Industries, Ltd., Cisco Systems, Inc., Iteris Inc and ST Engineering.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the integrated traffic systems market analysis from 2022 to 2032 to identify the prevailing integrated traffic systems market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the integrated traffic systems market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global integrated traffic systems market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy FunctionTraffic Monitoring
Traffic Control
Information Provision and Analysis
By Hardware TypeOthers
Surveillance Cameras
Boards
Radars and Sensors
By ApplicationUrban Traffic
Highways
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Southeast Asia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market PlayersST Engineering
Teledyne FLIR LLC
Siemens AG
Swarco AG.
JENOPTIK
Iteris Inc.
Cisco Systems, Inc.
Sumitomo Electric Industries, Ltd.
Kapsch TrafficCom AG
Cubic Transportation Systems, Inc.
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