Canada Intelligent Traffic Management System Market Size & Outlook
Canada intelligent traffic management system market, 2018-2030 (US$M)
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Canada intelligent traffic management system market highlights
- The Canada intelligent traffic management system market generated a revenue of USD 1,088.7 million in 2023 and is expected to reach USD 2,565.8 million by 2030.
- The Canada market is expected to grow at a CAGR of 13% 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 1,088.7 million |
| Market revenue in 2030 | USD 2,565.8 million |
| Growth rate | 13% (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, Canada accounted for 9.6% 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 North America, U.S. intelligent traffic management system market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 2,565.8 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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Canada 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 67.68% in 2023. Horizon Databook has segmented the Canada intelligent traffic management system market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The increasing development of smart infrastructure in Canada has boosted the demand for intelligent traffic management systems. Under the Canada Strategic Plan 2020–25 initiative, the country will supply and integrate intelligent transportation and traffic management systems for municipalities and agencies across the country.
Furthermore, Canada is undertaking a series of strategic initiatives to strengthen its transportation and infrastructure systems, which is also expected to propel the growth of the Canadian (ITMS) market in the coming years.
For instance, in February 2021, the Canadian government announced the funding of USD 14.9 billion for transportation projects over a period of eight years. The funding includes USD 3 billion for a project related to Canadian communities, which is expected to begin in 2026–27.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada intelligent traffic management system market , including forecasts for subscribers. This country databook contains high-level insights into Canada intelligent traffic management system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada intelligent traffic management system market size, by component, 2018-2030 (US$M)
Canada Intelligent Traffic Management System Market Outlook Share, 2023 & 2030 (US$M)
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