Australia Intelligent Traffic Management System Market Size & Outlook
Australia intelligent traffic management system market, 2018-2030 (US$M)
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Australia intelligent traffic management system market highlights
- The Australia intelligent traffic management system market generated a revenue of USD 207.2 million in 2023 and is expected to reach USD 672.1 million by 2030.
- The Australia market is expected to grow at a CAGR of 18.3% 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.
Intelligent traffic management system market data book summary
| Market revenue in 2023 | USD 207.2 million |
| Market revenue in 2030 | USD 672.1 million |
| Growth rate | 18.3% (CAGR from 2023 to 2030) |
| Largest segment | Solution |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Australia accounted for 1.8% of the global intelligent traffic management system market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China intelligent traffic management system market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 995.2 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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Australia 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 67.28% in 2023. Horizon Databook has segmented the Australia intelligent traffic management system market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The growing number of smart city projects being pursued across Australia is driving the adoption of intelligent transportation systems and traffic management systems. In the ever-expanding urban landscapes, traffic congestion, pollution, and parking issues, among other challenges, are increasingly becoming evident, necessitating the use of advanced technologies to develop more efficient and sustainable transportation networks.
The major drivers driving the adoption of traffic monitoring systems in Australia include favorable government initiatives to develop intelligent traffic infrastructure, roll out smart city projects, and encourage the use of adaptive traffic controls & analytics.
Intelligent traffic management systems are expected to support a wide variety of smart city applications, such as eco-driving, Smart Traffic Signal Control (STSC), and message broadcasting, in the coming years. For instance, in April 2022, Kapsch TrafficCom deployed an intelligent corridor in the city of Melbourne.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia intelligent traffic management system market , including forecasts for subscribers. This country databook contains high-level insights into Australia intelligent traffic management system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia intelligent traffic management system market size, by component, 2018-2030 (US$M)
Australia Intelligent Traffic Management System Market Outlook Share, 2023 & 2030 (US$M)
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