South Korea Intelligent Traffic Management System Market Size & Outlook
South Korea intelligent traffic management system market, 2018-2030 (US$M)
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South Korea intelligent traffic management system market highlights
- The South Korea intelligent traffic management system market generated a revenue of USD 222.5 million in 2023 and is expected to reach USD 697.8 million by 2030.
- The South Korea market is expected to grow at a CAGR of 17.7% 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 222.5 million |
| Market revenue in 2030 | USD 697.8 million |
| Growth rate | 17.7% (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 Korea accounted for 2.0% 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 Asia Pacific, China intelligent traffic management system market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 995.2 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 Korea 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 68.45% in 2023. Horizon Databook has segmented the South Korea intelligent traffic management system market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The strong emphasis on technological advancements and innovations plays a pivotal role in the growth of the South Korean intelligent traffic management system market. The government and private sector are investing heavily in research and development, leading to the development of cutting-edge technologies such as connected vehicles, smart traffic management systems, and advanced driver assistance systems,.
Furthermore, the growing smart city initiatives in the country are expected to strengthen the adoption of smart transportation infrastructure, parking management systems, and traffic management systems in the country.
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Our clientele includes a mix of intelligent traffic management system market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea intelligent traffic management system market , including forecasts for subscribers. This country databook contains high-level insights into South Korea intelligent traffic management system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea intelligent traffic management system market size, by component, 2018-2030 (US$M)
South Korea Intelligent Traffic Management System Market Outlook Share, 2023 & 2030 (US$M)
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