Europe Intelligent Traffic Management System Market Size & Outlook
Europe intelligent traffic management system market, 2018-2030 (US$M)
Related Markets
Europe intelligent traffic management system market highlights
- The Europe intelligent traffic management system market generated a revenue of USD 3,438.1 million in 2023.
- The market is expected to grow at a CAGR of 12.6% 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, Denmark is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 3,438.1 million |
| Market revenue in 2030 | USD 7,902.0 million |
| Growth rate | 12.6% (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, Europe region accounted for 30.4% 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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Europe 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 67.01% in 2023. Horizon Databook has segmented the Europe intelligent traffic management system market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The transportation sector is an important element of the European economy and a key contributor to the region’s GDP and overall job creation across several countries in the region. Sustainable and fully intelligent traffic management systems have become imperative for managing the effective functioning of the region’s complex transportation sector.
The European Commission is working with its member states, industry players, and public authorities to devise standard solutions for the effective integration of ITMS into the existing infrastructure. For instance, as part of its Digital Single Market Strategy, the European Commission aims to increase the use of ITMS to effectively manage transport networks for passengers.
It has also started work on the next generation of ITMS solutions through Cooperative-ITMS deployment, which could drive automation in the transportation sector.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe intelligent traffic management system market , including forecasts for subscribers. This continent databook contains high-level insights into Europe intelligent traffic management system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe intelligent traffic management system market size, by country, 2018-2030 (US$M)
Europe Intelligent Traffic Management System Market Outlook Share, 2023 & 2030 (US$M)
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