The Europe Intelligent Traffic Management System Market would witness market growth of 15.19% CAGR during the forecast period (2021-2027).
A smart transportation management system will enable the road authorities to change the traffic signal light on the basis of literal traffic density for the transport sector. Police can use these systems to carry out investigation of any case by finding the location of the subject matter in real-time. In addition, this system is also capable of transmitting crucial road center data about traffic violations and accidents to the authorities.
Along with that, they can help in changing the traffic signals in case of emergencies to provide a clear path to the required destination. Ultimately, this advanced system offers more safety and security on roads. There is an increase in the pace of advancements in various technologies and systems across the region.
The European Commission launched a new standard for ITS termed EN 302 637 3. The Decentralized environmental notification basic service is explained in this standard along with supporting road hazard warnings. The Decentralized environmental notification offers data related to abnormal traffic conditions, including the position and type of a road hazard.
The European Union necessitated car producers to use an intelligent system that contacts emergency services right after impacts, also known as e-Call. Drivers or passengers can manually send call requests or let an automatic system do it for them. The system automatically transmits datasets with vehicle identification data, travel direction and the accident’s time.
The Germany market dominated the Europe Intelligent Traffic Management System Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,181.3 Million by 2027. The UK market is estimated to witness a CAGR of 14% during (2021 - 2027). Additionally, The France market would experience a CAGR of 16.6% during (2021 - 2027).
Based on solution, the market is segmented into traffic monitoring systems, intelligent driver information systems, integrated corridor management, traffic signal control systems, traffic enforcement cameras, and others solutions. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Intelligent Traffic Management System Market Size will Hit $18.37 billion by 2027, at a CAGR of 15.60%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Siemens AG, Thales Group S.A., Kapsch TrafficCom AG (Datax Handelsgmbh), SNC-Lavalin Group, Inc. (Atkins PLC), Q-Free ASA, Wabtec Corporation, Cubic Corporation, TomTom N.V., and TransCore.
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