Saudi Arabia Intelligent Traffic Management System Market Size & Outlook
Saudi Arabia intelligent traffic management system market, 2018-2030 (US$M)
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Saudi Arabia intelligent traffic management system market highlights
- The Saudi Arabia intelligent traffic management system market generated a revenue of USD 180.1 million in 2023 and is expected to reach USD 505.9 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 15.9% 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 180.1 million |
| Market revenue in 2030 | USD 505.9 million |
| Growth rate | 15.9% (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, Saudi Arabia accounted for 1.6% 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 Middle East & Africa, Saudi Arabia intelligent traffic management system market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 505.9 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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Saudi Arabia 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 64.69% in 2023. Horizon Databook has segmented the Saudi Arabia intelligent traffic management system market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The government of Saudi Arabia is undertaking various initiatives to control the traffic on the streets, reduce the number of accidents, and curb energy consumption. For instance, in June 2021, the Saudi Arabian government launched the National Transport and Logistics Strategy to enhance the overall transportation services as part of Saudi Vision 2030.
The strategy included various initiatives to reduce traffic congestion and the number of accidents while rolling out ideal public transportation across Saudi Arabia. The rising number of smart city projects in the country is also boosting the adoption of different types of intelligent transportation systems, including smart traffic management systems, smart parking systems, smart toll payments, and smart transportation services.
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia intelligent traffic management system market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia intelligent traffic management system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia intelligent traffic management system market size, by component, 2018-2030 (US$M)
Saudi Arabia Intelligent Traffic Management System Market Outlook Share, 2023 & 2030 (US$M)
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