Increasing encouragement for effective traffic management in smart cities has led to growing utilization of ITMS in North America.
Increasing encouragement for effective traffic management in smart cities has led to growing utilization of ITMS in North America. There is a soaring adoption of cloud computing and data analytics in traffic management, which further boosts the market. ITMS for traffic monitoring accounted for the maximum revenue share in 2016. This segment is expected to expand at a CAGR of 12.9 % over the course of the forecast period.
ITMS is used for collecting, processing, analyzing, summarizing, and disseminating traffic data. Traffic monitoring systems include both software and hardware devices such as video surveillance systems, closed circuit televisions, loop detector systems, radar sensors, video detection software systems, and communication systems. Intelligent driver information systems are expected to register the highest CAGR of 18.4% over the forecast period. The segment is expected to reach USD 1.69 billion by 2024.
Further key findings from the report suggest:
• Intelligent driver information systems and integrated corridor management systems emerged as most prominent solutions in the ITMS market in 2016 and are anticipated to grow exponentially over the forecast period
• The industry in Canada is projected to witness substantial growth over the next decade owing to various developments across the country, especially in the automotive industry. The market is expected to develop at a CAGR of 15.4% from 2017 to 2024
• Key players in the intelligent traffic management system market include ADDCO; Agero Inc.; Denso Corporation; and Hitachi Ltd.
Table of Contents
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
Chapter 3 Market Snapshot
3.1 ITMS – Market snapshot & key buying criteria, 2014 – 2024
Chapter 4 ITMS Industry Outlook
4.1 Market segmentation
4.2 ITMS – Market size and growth prospects
4.3 ITMS – Value chain analysis
4.3.1 ICM solution by company
4.4 Market Dynamics
4.4.1 Market driver analysis
220.127.116.11 Necessity to reduce traffic congestion and improve road safety
18.104.22.168 Encouragement for effective traffic management in Smart cities
22.214.171.124 Adoption of cloud computing and data analytics in traffic management
4.4.2 Market restraint analysis
126.96.36.199 Difficulty in restructuring current infrastructure to provide smart traffic solution
4.5 Penetration & growth prospect mapping
4.6 ITMS – Key Company Analysis, 2016
4.7 ITMS – PESTEL analysis
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