Asia Pacific Intelligent Traffic Management System Market Size & Outlook
Asia Pacific intelligent traffic management system market, 2018-2030 (US$M)
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Asia Pacific intelligent traffic management system market highlights
- The Asia Pacific intelligent traffic management system market generated a revenue of USD 2,090.7 million in 2023.
- The market is expected to grow at a CAGR of 17.5% from 2024 to 2030.
- In terms of segment, solution was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 2,090.7 million |
| Market revenue in 2030 | USD 6,461.7 million |
| Growth rate | 17.5% (CAGR from 2023 to 2030) |
| Largest segment | Solution |
| Fastest growing segment | Services |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solution, Services |
| Key market players worldwide | Thales, International Business Machines Corp, Portland General Electric Co, Siemens AG, TomTom NV, Q-Free ASA Ordinary Shares, Transcore, Cubic Corporation, Atkins, Kapsch Group |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 18.5% of the global intelligent traffic management system market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 6,461.7 million by 2030.
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Intelligent Traffic Management System Market Scope
Intelligent Traffic Management System Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific intelligent traffic management system market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to intelligent traffic management system market will help companies and investors design strategic landscapes.
Solution was the largest segment with a revenue share of 67.36% in 2023. Horizon Databook has segmented the Asia Pacific intelligent traffic management system market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The stringent emission norms, rising demand for electric vehicles and charging infrastructure, and supportive government policies are driving the growth of the intelligent traffic management system market in the region.
Furthermore, rising pollution levels and the adverse effects of greenhouse gas emissions on the environment have propelled the demand for environmentally friendly vehicles in the region.
Governments of various countries in the region have announced various tax exemptions and subsidies on the purchase of electric buses, scooters, and cars to promote technologically advanced and green transportation.
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Our clientele includes a mix of intelligent traffic management system market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific intelligent traffic management system market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific intelligent traffic management system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Asia Pacific intelligent traffic management system market size, by country, 2018-2030 (US$M)
Asia Pacific Intelligent Traffic Management System Market Outlook Share, 2023 & 2030 (US$M)
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