Middle East & Africa Intelligent Traffic Management System Market Size & Outlook
Middle East & Africa intelligent traffic management system market, 2018-2030 (US$M)
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MEA intelligent traffic management system market highlights
- The MEA intelligent traffic management system market generated a revenue of USD 688.6 million in 2023.
- The market is expected to grow at a CAGR of 14.4% 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, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 688.6 million |
| Market revenue in 2030 | USD 1,768.9 million |
| Growth rate | 14.4% (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, MEA region accounted for 6.1% 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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Middle East & Africa 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 66.34% in 2023. Horizon Databook has segmented the Middle East & Africa intelligent traffic management system market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The strong presence of international market players coupled with the upcoming smart city projects in the MEA region is expected to drive the growth of the intelligent traffic management system market in the region in the coming years.
The World Bank said in November 2022 that the MEA region has been witnessing a 3.5% increase in urban population each year. With increasing population and dwindling energy resources, intelligent public transport systems are becoming highly important for ensuring sustainable transportation in the region.
Government agencies in the region are adopting smarter, more intelligent, safer, and technologically advanced transportation systems to enhance mobility within cities, reduce traveling time, and improve the standard of living of the people.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa intelligent traffic management system market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa intelligent traffic management system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA intelligent traffic management system market size, by country, 2018-2030 (US$M)
Middle East & Africa Intelligent Traffic Management System Market Outlook Share, 2023 & 2030 (US$M)
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