U.S. Intelligent Traffic Management System Market Size & Outlook
U.S. intelligent traffic management system market, 2018-2030 (US$M)
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U.S. intelligent traffic management system market highlights
- The U.S. intelligent traffic management system market generated a revenue of USD 3,156.3 million in 2023 and is expected to reach USD 6,937.3 million by 2030.
- The U.S. market is expected to grow at a CAGR of 11.9% 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 3,156.3 million |
| Market revenue in 2030 | USD 6,937.3 million |
| Growth rate | 11.9% (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, U.S. accounted for 27.9% 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 North America, U.S. intelligent traffic management system market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 2,565.8 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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U.S. 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 66.3% in 2023. Horizon Databook has segmented the U.S. intelligent traffic management system market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The rising number of vehicle accidents in the U.S. is expected to increase the need for intelligent traffic management systems. According to a report released by the National Highway Traffic Safety Administration in September 2023, around 42,939 people lost their lives in car crashes in FY2022, an increase of 10.1% compared to FY2021.
The U.S. ITMS market has experienced significant growth in recent years, driven by the increasing need for efficient and sustainable transportation solutions. With the growing urban population in cities, the demand for smart transportation systems that can alleviate congestion and improve traffic flow has increased sharply.
For instance, in October 2023, Iteris, Inc. announced that it received a new contract worth USD 1.2 million from the City of Yorba Linda, California, U.S., for traffic signal synchronization projects. Based on the terms, the company will install conduit, signal timing synchronization, and fiber optic communications systems, providing TMC improvements, system construction, and integration support.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. intelligent traffic management system market , including forecasts for subscribers. This country databook contains high-level insights into U.S. intelligent traffic management system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. intelligent traffic management system market size, by component, 2018-2030 (US$M)
U.S. Intelligent Traffic Management System Market Outlook Share, 2023 & 2030 (US$M)
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