Norway Intelligent Traffic Management System Market Size & Outlook
Norway intelligent traffic management system market, 2018-2030 (US$M)
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Norway intelligent traffic management system market highlights
- The Norway intelligent traffic management system market generated a revenue of USD 306.5 million in 2023 and is expected to reach USD 787.9 million by 2030.
- The Norway 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.
Intelligent traffic management system market data book summary
| Market revenue in 2023 | USD 306.5 million |
| Market revenue in 2030 | USD 787.9 million |
| Growth rate | 14.4% (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, Norway accounted for 2.7% 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 Europe, Germany intelligent traffic management system market is projected to lead the regional market in terms of revenue in 2030.
- Denmark is the fastest growing regional market in Europe and is projected to reach USD 861.0 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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Norway 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 66.79% in 2023. Horizon Databook has segmented the Norway intelligent traffic management system market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of the Norwegian intelligent traffic management system market can be attributed to the rapid advances in semi-autonomous and autonomous driving, mobility, cloud computing, data communication, and sensing, among other technologies.
Key market players are focusing on launching new, innovative solutions that can help ease traffic congestion in the country. For instance, in October 2020, Aimsun, a traffic management solution provider, was awarded a contract to deliver traffic management pilot project in the city of Bergen, Norway.
The project is focused on to analyze real-time traffic data and historic travel patterns to forecast what would happen in the upcoming 60 minutes and enable traffic operators how to operate ITS solutions, such as changing signal timings and suggest alternative routes.
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Horizon Databook provides a detailed overview of country-level data and insights on the Norway intelligent traffic management system market , including forecasts for subscribers. This country databook contains high-level insights into Norway intelligent traffic management system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Norway intelligent traffic management system market size, by component, 2018-2030 (US$M)
Norway Intelligent Traffic Management System Market Outlook Share, 2023 & 2030 (US$M)
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