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North America AI-Driven Traffic Management Market Size, Share & Trends Analysis Report By Deployment Mode, By Technology, By Component (Software, Hardware, and Services), By Application, By End User, By Country and Growth Forecast, 2024 - 2031

Publisher Knowledge Based Value (KBV) Research
Published Oct 10, 2024
Length 152 Pages
SKU # KBV19259407

Description

North America AI-Driven Traffic Management Market Size, Share & Trends Analysis Report By Deployment Mode, By Technology, By Component (Software, Hardware, and Services), By Application, By End User, By Country and Growth Forecast, 2024 - 2031


The North America AI-Driven Traffic Management Market would witness market growth of 29.0% CAGR during the forecast period (2024-2031).

The US market dominated the North America AI-Driven Traffic Management Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $36,991.3 million by 2031. The Canada market is experiencing a CAGR of 31.8% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 30.7% during (2024 - 2031).

Artificial intelligence (AI)'s application in traffic management transforms how cities approach urban mobility, offering innovative solutions to complex challenges. AI-powered cameras and sensors can continuously monitor traffic conditions, capturing real-time data on vehicle counts, speeds, and congestion levels. This data can then be used to adjust traffic signals and manage flow effectively. Using real-time monitoring data, AI can optimize traffic light cycles, adjusting them based on actual traffic conditions rather than preset schedules. This results in smoother traffic flow and reduced wait times.

AI can analyze historical data to identify patterns in traffic behavior, predicting future congestion based on variables like time of day, weather conditions, and local events. This predictive capability allows cities to manage traffic and allocate resources more efficiently and proactively. By analyzing patterns from past incidents, AI can predict potential traffic incidents or bottlenecks, allowing for preemptive measures, such as deploying traffic officers or rerouting vehicles.

Rising traffic fatalities and injuries in Canada are propelling the growth of this market. In 2021, the Canadian government reported 1,768 motor vehicle fatalities, marking a 1.3% increase from 2020’s figure of 1,746. Serious injuries from motor vehicle accidents also rose by 4%, totaling 8,185, while overall injuries increased by 3.6%, reaching 108,018. This alarming trend highlights the urgent need for innovative solutions to enhance road safety and manage traffic more effectively. In conclusion, the rise in traffic fatalities and injuries in the USA & Canada creates a compelling case for adopting AI-driven traffic management solutions.

Based on Deployment Mode, the market is segmented into Cloud and On-Premises. Based on Technology, the market is segmented into Machine Learning (ML), Computer Vision, Internet of Things (IoT), Natural Language Processing (NLP), and Other Technology. Based on Component, the market is segmented into Software, Hardware, and Services. Based on Application, the market is segmented into Traffic Signal Control Systems, Incident Detection & Management, Route Optimization, Public Transport Management, and Predictive Analytics. Based on End User, the market is segmented into Government Authorities, Highway Operators, and Logistics & Transportation Providers. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

List of Key Companies Profiled
  • Siemens AG (Siemens Mobility)
  • Iteris, Inc.
  • Econolite Group, Inc.
  • Thales Group S.A.
  • Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
  • Ericsson AB
  • SWARCO AG
  • IBM Corporation
  • Indra Sistemas, S.A.
  • ST Engineering Limited (Temasek Holdings Limited )
North America AI-Driven Traffic Management Market Report Segmentation

By Deployment Mode
  • Cloud
  • On-Premises
By Technology
  • Machine Learning (ML)
  • Computer Vision
  • Internet of Things (IoT)
  • Natural Language Processing (NLP)
  • Other Technology
By Component
  • Software
  • Hardware
  • Services
By Application
  • Traffic Signal Control Systems
  • Incident Detection & Management
  • Route Optimization
  • Public Transport Management
  • Predictive Analytics
By End User
  • Government Authorities
  • Highway Operators
  • Logistics & Transportation Providers
By Country
  • US
  • Canada
  • Mexico
  • Rest of North America

Table of Contents

152 Pages
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America AI-Driven Traffic Management Market, by Deployment Mode
1.4.2 North America AI-Driven Traffic Management Market, by Technology
1.4.3 North America AI-Driven Traffic Management Market, by Component
1.4.4 North America AI-Driven Traffic Management Market, by Application
1.4.5 North America AI-Driven Traffic Management Market, by End User
1.4.6 North America AI-Driven Traffic Management Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.3 Market Share Analysis, 2023
4.4 Top Winning Strategies
4.4.1 Key Leading Strategies: Percentage Distribution (2020-2024)
4.4.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2021, Dec – 2024, Aug) Leading Players
4.5 Porter Five Forces Analysis
Chapter 5. North America AI-Driven Traffic Management Market by Deployment Mode
5.1 North America Cloud Market by Region
5.2 North America On-Premises Market by Region
Chapter 6. North America AI-Driven Traffic Management Market by Technology
6.1 North America Machine Learning (ML) Market by Country
6.2 North America Computer Vision Market by Country
6.3 North America Internet of Things (IoT) Market by Country
6.4 North America Natural Language Processing (NLP) Market by Country
6.5 North America Other Technology Market by Country
Chapter 7. North America AI-Driven Traffic Management Market by Component
7.1 North America Software Market by Country
7.2 North America Hardware Market by Country
7.3 North America Services Market by Country
Chapter 8. North America AI-Driven Traffic Management Market by Application
8.1 North America Traffic Signal Control Systems Market by Country
8.2 North America Incident Detection & Management Market by Country
8.3 North America Route Optimization Market by Country
8.4 North America Public Transport Management Market by Country
8.5 North America Predictive Analytics Market by Country
Chapter 9. North America AI-Driven Traffic Management Market by End User
9.1 North America Government Authorities Market by Country
9.2 North America Highway Operators Market by Country
9.3 North America Logistics & Transportation Providers Market by Country
Chapter 10. North America AI-Driven Traffic Management Market by Country
10.1 US AI-Driven Traffic Management Market
10.1.1 US AI-Driven Traffic Management Market by Deployment Mode
10.1.2 US AI-Driven Traffic Management Market by Technology
10.1.3 US AI-Driven Traffic Management Market by Component
10.1.4 US AI-Driven Traffic Management Market by Application
10.1.5 US AI-Driven Traffic Management Market by End User
10.2 Canada AI-Driven Traffic Management Market
10.2.1 Canada AI-Driven Traffic Management Market by Deployment Mode
10.2.2 Canada AI-Driven Traffic Management Market by Technology
10.2.3 Canada AI-Driven Traffic Management Market by Component
10.2.4 Canada AI-Driven Traffic Management Market by Application
10.2.5 Canada AI-Driven Traffic Management Market by End User
10.3 Mexico AI-Driven Traffic Management Market
10.3.1 Mexico AI-Driven Traffic Management Market by Deployment Mode
10.3.2 Mexico AI-Driven Traffic Management Market by Technology
10.3.3 Mexico AI-Driven Traffic Management Market by Component
10.3.4 Mexico AI-Driven Traffic Management Market by Application
10.3.5 Mexico AI-Driven Traffic Management Market by End User
10.4 Rest of North America AI-Driven Traffic Management Market
10.4.1 Rest of North America AI-Driven Traffic Management Market by Deployment Mode
10.4.2 Rest of North America AI-Driven Traffic Management Market by Technology
10.4.3 Rest of North America AI-Driven Traffic Management Market by Component
10.4.4 Rest of North America AI-Driven Traffic Management Market by Application
10.4.5 Rest of North America AI-Driven Traffic Management Market by End User
Chapter 11. Company Profiles
11.1 Siemens AG (Siemens Mobility)
11.1.1 Company Overview
11.1.2 Financial Analysis
11.1.3 Segmental and Regional Analysis
11.1.4 Research & Development Expense
11.1.5 Recent strategies and developments:
11.1.5.1 Partnerships, Collaborations, and Agreements:
11.1.5.2 Product Launches and Product Expansions:
11.1.5.3 Acquisition and Mergers:
11.1.6 SWOT Analysis
11.2 Iteris, Inc.
11.2.1 Company Overview
11.2.2 Financial Analysis
11.2.3 Research & Development Expenses
11.2.4 Recent strategies and developments:
11.2.4.1 Partnerships, Collaborations, and Agreements:
11.2.4.2 Product Launches and Product Expansions:
11.3 Econolite Group, Inc.
11.3.1 Company Overview
11.3.2 Recent strategies and developments:
11.3.2.1 Partnerships, Collaborations, and Agreements:
11.3.2.2 Acquisition and Mergers:
11.4 Thales Group S.A.
11.4.1 Company Overview
11.4.2 Financial Analysis
11.4.3 Segmental and Regional Analysis
11.4.4 Research & Development Expenses
11.4.5 Recent strategies and developments:
11.4.5.1 Partnerships, Collaborations, and Agreements:
11.4.6 SWOT Analysis
11.5 Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
11.5.1 Company Overview
11.5.2 Financial Analysis
11.5.3 Segmental and Regional Analysis
11.5.4 Research & Development Expenses
11.5.5 Recent strategies and developments:
11.5.5.1 Partnerships, Collaborations, and Agreements:
11.5.5.2 Product Launches and Product Expansions:
11.5.6 SWOT Analysis
11.6 SWARCO AG
11.6.1 Company Overview
11.6.2 Recent strategies and developments:
11.6.2.1 Partnerships, Collaborations, and Agreements:
11.6.2.2 Product Launches and Product Expansions:
11.6.3 SWOT Analysis
11.7 Ericsson AB
11.7.1 Company Overview
11.7.2 Financial Analysis
11.7.3 Segmental and Regional Analysis
11.7.4 Research & Development Expense
11.7.5 Recent strategies and developments:
11.7.5.1 Product Launches and Product Expansions:
11.7.6 SWOT Analysis
11.8 IBM Corporation
11.8.1 Company Overview
11.8.2 Financial Analysis
11.8.3 Regional & Segmental Analysis
11.8.4 Research & Development Expenses
11.8.5 Recent strategies and developments:
11.8.5.1 Acquisition and Mergers:
11.8.6 SWOT Analysis
11.9 Indra Sistemas, S.A.
11.9.1 Company Overview
11.9.2 Financial Analysis
11.9.3 Segmental and Regional Analysis
11.9.4 Research & Development Expenses
11.9.5 Recent strategies and developments:
11.9.5.1 Product Launches and Product Expansions:
11.10. ST Engineering Limited
11.10.1 Company Overview
11.10.2 Financial Analysis
11.10.3 Segmental and Regional Analysis

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