South Africa Intelligent Traffic Management System Market Size & Outlook
South Africa intelligent traffic management system market, 2018-2030 (US$M)
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South Africa intelligent traffic management system market highlights
- The South Africa intelligent traffic management system market generated a revenue of USD 131.0 million in 2023 and is expected to reach USD 316.6 million by 2030.
- The South Africa market is expected to grow at a CAGR of 13.4% 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 131.0 million |
| Market revenue in 2030 | USD 316.6 million |
| Growth rate | 13.4% (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, South Africa accounted for 1.2% 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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South 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 67.56% in 2023. Horizon Databook has segmented the South Africa intelligent traffic management system market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The rising urban population and growing demand for personal vehicles are driving the implementation of intelligent traffic management systems in South Africa. According to the World Bank, around 68% of the nation’s total population resides in urban areas and the rate of urbanization shows no signs of abating.
The growing urban population is pressurizing the existing transportation system and infrastructure, thereby driving the adoption of intelligent traffic management systems across South Africa.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa intelligent traffic management system market , including forecasts for subscribers. This country databook contains high-level insights into South Africa intelligent traffic management system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa intelligent traffic management system market size, by component, 2018-2030 (US$M)
South Africa Intelligent Traffic Management System Market Outlook Share, 2023 & 2030 (US$M)
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