Sweden Intelligent Traffic Management System Market Size & Outlook
Sweden intelligent traffic management system market, 2018-2030 (US$M)
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Sweden intelligent traffic management system market highlights
- The Sweden intelligent traffic management system market generated a revenue of USD 281.0 million in 2023 and is expected to reach USD 708.6 million by 2030.
- The Sweden market is expected to grow at a CAGR of 14.1% 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 281.0 million |
| Market revenue in 2030 | USD 708.6 million |
| Growth rate | 14.1% (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, Sweden accounted for 2.5% 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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Sweden 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 67.76% in 2023. Horizon Databook has segmented the Sweden intelligent traffic management system market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
Sweden, like many other countries in the European Union, has been pursuing smart city initiatives to enhance urban living and sustainability. Installing ITMS to optimize traffic flow, reduce traffic congestion, and improve overall transportation efficiency forms an integral part of these initiatives.
Key market players are focusing on developing new, innovative solutions toward this end and entering new markets as well. For instance, in November 2023, Populus announced that it has entered into a partnership with City of Stockholm for introducing its Mobility Management system which will help improve air quality and reduce traffic congestion. Such launches will help in the Sweden intelligent traffic management system market growth.
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Horizon Databook provides a detailed overview of country-level data and insights on the Sweden intelligent traffic management system market , including forecasts for subscribers. This country databook contains high-level insights into Sweden intelligent traffic management system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Sweden intelligent traffic management system market size, by component, 2018-2030 (US$M)
Sweden Intelligent Traffic Management System Market Outlook Share, 2023 & 2030 (US$M)
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