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Intelligent Traffic Management System Market to Cross USD 28.80 Billion by 2030 Driven by Rising Government Initiatives to Improve Transportation Infrastructure | Report By SNS Insider

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Pune, May 22, 2023 (GLOBE NEWSWIRE) — “The Intelligent Traffic Management System Market had a value of USD 11.14 billion in 2022 and is anticipated to achieve USD 28.80 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 12.6% during the projection period of 2023-2030“, as stated by SNS Insider.

Market Report Scope

An Intelligent Traffic Management System (ITMS) is a technological solution that utilizes advanced algorithms, artificial intelligence, and real-time data to improve the safety, efficiency, and overall performance of transportation networks. ITMS is used to manage traffic flow, reduce congestion, enhance safety, and improve the overall travel experience for commuters.

Market Analysis

Advancements in technology have been a major factor in the growth of the intelligent traffic management system market. With the development of new and innovative technologies such as the Internet of Things (IoT), Big Data analytics, and Artificial Intelligence (AI), traffic management systems have become more efficient and effective in managing traffic flows. These technologies allow for real-time data collection, analysis, and response, enabling traffic management systems to respond quickly to changing traffic conditions and improve overall traffic flow. Urbanization is another factor driving the growth of the ITMS market. As more people move into cities and towns, the demand for efficient transportation systems increases.

Download PDF Brochure For Intelligent Traffic Management System Market: https://www.snsinsider.com/sample-request/1486  

Intelligent Traffic Management System Market Report Scope:

Report Attributes Details
Market Size in 2022 US$ 11.14  Billion
Market Size by 2030 US$ 28.80 Billion
CAGR CAGR of 12.6% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2019-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Drivers •Favorable government initiatives aimed at improving traffic management.
•Globally, there is a greater need to alleviate traffic congestion, as well as the rapid growth of smart cities.

Impact of Recession

The recession caused a significant impact on the intelligent traffic management system market, leading to a decline in growth in the short term. However, the market is expected to recover and grow in the long term, driven by the increasing adoption of smart transportation technologies and the growing need for efficient traffic management solutions. The pandemic has also highlighted the importance of resilient and adaptable ITMS solutions, leading to an increased focus on cloud-based and data-driven solutions.

Key Regional Development

According to recent market research report, North America is expected to dominate the intelligent traffic management system market in the coming years. The ITMS market is growing rapidly due to the increasing adoption of smart transportation solutions, rising demand for efficient traffic management systems, and the need to reduce traffic congestion and air pollution. The U.S. government has launched several initiatives and programs to promote the development and implementation of smart transportation solutions.

Key Takeaway from Intelligent Traffic Management System Market Study

  • The traffic monitoring system segment is poised to continue its growth in the market. With increasing demand for smart city solutions and the ongoing development of new technologies, these systems will play a critical role in helping to optimize traffic flow and improve safety on our roads. 
  • The infrastructure enterprises and PPPs segment is set to take a lead in the market. With the increasing demand for efficient and safe transportation, infrastructure enterprises are investing heavily in ITMS, which is expected to drive the growth of this segment during the forecast period.

Recent Developments Related to Intelligent Traffic Management System Market

  • Intelligent Traffic Control (ITC), a leading provider of smart traffic management solutions, announced today that it has raised $5 million USD in Series A funding. The funding round was led by XYZ Ventures, a prominent venture capital firm specializing in technology startups.
  • L&T Technology Services (LTTS), a leading global engineering services company, has announced its plans to acquire L&T’s Smart World & Communication business. The acquisition will strengthen LTTS’ capabilities in the smart infrastructure space and expand its offerings in the Internet of Things (IoT), Artificial Intelligence (AI), and 5G domains.

Buy Exclusive PDF Copy of Intelligent Traffic Management System Market Along With ME Sheet: https://www.snsinsider.com/checkout/1486 

Table of Contents

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

8. Global Intelligent Traffic Management System Market Segmentation, by Solution

8.1 Traffic Monitoring System

8.2 Traffic Enforcement Camera

8.3 Traffic Signal Control System

8.4 Intelligent Driver Information System

8.5 Integrated Corridor Management

8.6 Others

9. Global Intelligent Traffic Management System Market Segmentation, by Spender Type

9.1 Infrastructure Enterprises & PPPs

9.2 Federal and Provincial Government

9.3 Industries & Commercial Enterprise

10. Global Intelligent Traffic Management System Market Segmentation, by Offering

10.1 Hardware

10.2 Software

10.3 Services

11. Regional Analysis

11.2 North America

11.3 Europe

11.4 Asia-Pacific

11.5 The Middle East & Africa

11.6 Latin America

12. Company Profiles

12.1 Siemens AG (Germany),

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 TomTom International BV

12.3 IBM Corporation (U.S.)

12.4 Thales Group (France)

12.5 SNC-Lavalin Group (Atkins)

12.6 Q-Free ASA (Norway)

12.7 Quarterhill Inc. (Canada)

12.8 Baumer Holding AG (Switzerland)

12.9 Cubic Corporation

12.10 Dahua Technology Co. Ltd. (U.S.)

12.11 General Electric Company

12.12 Econolite Control Products, Inc. (U.S.)

12.13 Kapsch TrafficCom

12.14 Beijing E-Hualu Information Technology Co. Ltd (China)

12.15 Iteris Inc. (U.S.)

12.16 International Business Machines Corporation

13. Competitive Landscape

14. Conclusion

About SNS Insider

At SNS Insider, we believe that businesses should have access to the best market intelligence and insights, regardless of their size or industry. That’s why we offer a range of solutions tailored to meet the unique needs of each client, from startups to big corporations. With a passion for our work and an unwavering commitment to delivering value, we are dedicated to helping our clients achieve their full potential.


GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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