Thailand Intelligent Traffic Management System Market Size & Outlook
Thailand intelligent traffic management system market, 2018-2030 (US$M)
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Thailand intelligent traffic management system market highlights
- The Thailand intelligent traffic management system market generated a revenue of USD 197.9 million in 2023 and is expected to reach USD 684.8 million by 2030.
- The Thailand market is expected to grow at a CAGR of 19.4% 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 197.9 million |
| Market revenue in 2030 | USD 684.8 million |
| Growth rate | 19.4% (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, Thailand accounted for 1.7% 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 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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Thailand 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 66.9% in 2023. Horizon Databook has segmented the Thailand intelligent traffic management system market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
Rapid industrialization in Thailand is culminating in continued urbanization, which is subsequently leading to traffic congestion and rising vehicular emissions. According to a report released by TomTom, Bangkok was ranked 46th globally in the traffic index, with people spending around 208 hours driving and in traffic congestion and emitting 969 kg of CO2 in the process.
Hence, the government is focusing on implementing intelligent traffic management systems to aid in real-time traffic management, ensure efficient route planning, and mitigate congestion. For instance, in June 2023, the Bangkok Metropolitan Administration launched a pilot project for an automatic traffic management system for four roads in the city of Bangkok to manage vehicle flow and prevent traffic jams. Such pilots bode well for the growth of the intelligent traffic management system market in Thailand.
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Horizon Databook provides a detailed overview of country-level data and insights on the Thailand intelligent traffic management system market , including forecasts for subscribers. This country databook contains high-level insights into Thailand intelligent traffic management system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Thailand intelligent traffic management system market size, by component, 2018-2030 (US$M)
Thailand Intelligent Traffic Management System Market Outlook Share, 2023 & 2030 (US$M)
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