UK Intelligent Traffic Management System Market Size & Outlook
UK intelligent traffic management system market, 2018-2030 (US$M)
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UK intelligent traffic management system market highlights
- The UK intelligent traffic management system market generated a revenue of USD 491.7 million in 2023 and is expected to reach USD 1,019.3 million by 2030.
- The UK market is expected to grow at a CAGR of 11% 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 491.7 million |
| Market revenue in 2030 | USD 1,019.3 million |
| Growth rate | 11% (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, UK accounted for 4.3% 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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UK 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 67.46% in 2023. Horizon Databook has segmented the UK intelligent traffic management system market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The expanding transportation infrastructure, favorable economic policies, and government initiatives for improving digitization and sustainability in the transportation infrastructure have boosted the growth of the ITMS market in the U.K.
For instance, in March 2022, the U.K. government announced the funding of USD 197.2 million to support bus and light rail services across the country. This funding helped enhance partnerships among local authorities working toward a sustainable future.
Furthermore, the government is encouraging investments and partnerships with private players to strengthen transportation infrastructure and traffic systems in the country. For instance, in July 2023, Q-Free ASA, an intelligent transportation system provider, announced the deployment of its Kinetic Counts software in the U.K.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK intelligent traffic management system market , including forecasts for subscribers. This country databook contains high-level insights into UK intelligent traffic management system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK intelligent traffic management system market size, by component, 2018-2030 (US$M)
UK Intelligent Traffic Management System Market Outlook Share, 2023 & 2030 (US$M)
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