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The global Intelligent Intersection market size was valued at USD 6436.75 Million in 2022 and will reach USD 14165.72 Million in 2028, with a CAGR of 14.05% during 2022-2028.
The intelligent intersection can reduce congestion and increasing safety for all transportation users. It is to increase efficiency and safety of intersections through sensor-based (mounted on infrastructure) object detection and fusion as well as a holistic traffic understanding.
Influence of COVID-19 Outbreak on Intelligent Intersection Industry Development
COVID-19 epidemic makes it more important for emergency workers to arrive at the scene efficiently and safely, because it puts heavy pressure on the medical care system, and emergency workers and medical care providers all over the world have to do more with the same or relatively similar ability level. For transit, faster passage of routes means that passengers have lower risk of exposure to viruses, because the use of intelligent intersections can minimize their time in transit vehicles. Intelligent intersections can improve the efficiency and safety of intersections and prevent collisions with vulnerable road users and other traffic participants. At the same time, reduce traffic congestion and improve the time efficiency of medical rescue workers during the COVID-19 epidemic.
The epidemic situation has promoted the development of technology, and the adoption of cloud-based software and artificial intelligence (AI) is an important trend. During the pandemic, the traffic volume of public transportation decreased, and people walked and rode bicycles more. Artificial intelligence helps cities keep a delicate balance between vehicles, pedestrians and cyclists.
Key measures related to building smart cities will continue to gain momentum, because the macro trend and demand of increasing population density in metropolitan areas. As the population continues to grow, the response to climate change will only become stronger and stronger. In the future, the intelligent intersection industry will continue to develop.
Drivers
Intelligent intersections use vehicle counting cameras or vehicle counting sensors to detect vehicle density in all directions. After the vehicle density is detected, the duration of intersections in all directions changes dynamically. The "green light times" in traffic lights is automatically determined according to the vehicle density. At normal signaled intersections, vehicle counts are performed manually every hour every day, and loaded into the intersection controller by determining the best green light time. Since these times are constant, the time will not change with the change of vehicle density. In the application of intelligent intersection, the time varies according to the density, so the waiting time of intersection is minimized. Minimizing the waiting time of vehicles at intersections can not only save time, but also reduce the damage to the environment by saving fuel and reducing emissions. These advantages are one of the important factors driving the demand growth of Intelligent Intersection industry.
Market Challenges
There are many factors that lead to the backwardness of infrastructure, including insufficient funds or shortage, insufficient supply of development resources, inefficient development of labor force and poor repair and maintenance. Adequate infrastructure is the basic premise of the transportation system. For example, Sub-Saharan Africa ranks consistently at the bottom of all developing regions in terms of infrastructure performance; Burundi's economic development is at a significant disadvantage due to its poor infrastructure, particularly the inadequacy of its transport system. The transportation infrastructure in some countries is very backward and imperfect, which will challenge the implementation of Intelligent Intersection system.
Market Restraints
In order to improve the traffic capacity of intersections, intelligent transportation systems such as vehicle detection are introduced at intersections controlled by traffic lights. However, these lights sometimes fail to detect smaller vehicles, such as bicycles or motorcycles. For example, the induction loop sensor may not detect small vehicles, and the sensor whose sensitivity is set too high to avoid false triggering. Although typical motor vehicles have enough quality metal, such as steel, to interact with the magnetic field of the sensor, motorcycles and scooters are much lighter than cars, and bicycles may not even be made of metal. This happens most often when other vehicles are scarce in a day, and when small vehicles are coming from the direction with little traffic.
Region Overview:
Europe had the highest growth rate of all regions.
Company Overview:
Siemens is one of the major players operating in the Intelligent Intersection market, holding a share of 13.21% in 2022.
Siemens Mobility will be deploying its world renowned ATMS and adaptive traffic control technology. Siemens' Sitraffic Concert platform supervises and coordinates the functionality of the ATMS system and it will work directly with the adaptive traffic control system called SCOOT (Split Cycle and Offset Optimization Technique), a dynamic, on-line, real-time method of signal control that continuously measures traffic demand on all approaches to intersections.
Cisco was founded in 1984 by a small group of computer scientists from Stanford University. Since the company's inception, Cisco engineers have been leaders in the development of Internet Protocol (IP)-based networking technologies. Today, with more than 71,000 employees worldwide, this tradition of innovation continues with industry-leading products and solutions in the company's core development areas of routing and switching, as well as in advanced technologies such as home networking, IP telephony, optical networking, security, storage area networking, and wireless technology. In addition to its products, Cisco provides a broad range of service offerings, including technical support and advanced services.
Segmentation Overview:
As for product types, the Hardware segment held the largest market share in 2021.
Application Overview:
By application, the Traffic Management segment occupied the biggest share from 2017 to 2022.
The Intelligent Intersection market report covers sufficient and comprehensive data on market introduction, segmentations, status and trends, opportunities and challenges, industry chain, competitive analysis, company profiles, and trade statistics, etc. It provides in-depth and all-scale analysis of each segment of types, applications, players, 5 major regions and sub-division of major countries, and sometimes end user, channel, technology, as well as other information individually tailored before order confirmation.
Meticulous research and analysis were conducted during the preparation process of the report. The qualitative and quantitative data were gained and verified through primary and secondary sources, which include but not limited to Magazines, Press Releases, Paid Databases, Maia Data Center, National Customs, Annual Reports, Public Databases, Expert interviews, etc. Besides, primary sources include extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs, and marketing executives, downstream distributors, as well as end-clients.
In this report, the historical period starts from 2018 to 2022, and the forecast period ranges from 2023 to 2028. The facts and data are demonstrated by tables, graphs, pie charts, and other pictorial representations, which enhances the effective visual representation and decision-making capabilities for business strategy.
Key Companies in the global Intelligent Intersection market covered in Chapter 4:
Cubic Corporation
Tagmaster
SWARCO
Parsons Corporation
Iteris, Inc.
Cisco
Thales Group
Siemens
Econolite
Continental
Tapco
In Chapter 12 and Chapter 14.1, on the basis of types, the Intelligent Intersection market from 2018 to 2028 is primarily split into:
Solution
Hardware
In Chapter 13 and Chapter 14.2, on the basis of the Downstream Industry, the Intelligent Intersection market from 2018 to 2028 covers:
Traffic Management
Road Safety and Surveillance
Freight Management
Public Transport
Environment Protection
Automotive Telematics
Parking Management
Road User Charging
Automated Vehicles
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, history and forecast (2018-2028) of the following regions are covered in Chapters 6, 7, 8, 9, 10, 11, 15:
North America (United States, Canada, Mexico)
Europe (Germany, United Kingdom, France, Italy, Spain)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia)
South America (Brazil, Argentina)
Middle East & Africa (Saudi Arabia, UAE, South Africa)
Outline:
Chapter 1 begins with the Intelligent Intersection market scope and definition, product segment introduction, global overall market size, as well as market dynamics scenarios such as opportunities, challenges, and industry development trends under inflation. It offers a high-level view of the current state of the Intelligent Intersection market and its likely evolution in the short to mid-term and long term.
Chapter 2 provides Intelligent Intersection industry chain analysis, covering raw materials analysis, cost structure, price estimate, and forecast, along with price-impacting factors, downstream channels, and major customers. It aims to help readers to grab insights into product upstream, midstream, and downstream fields.
Chapter 3 depicts Intelligent Intersection industry competitive analysis regarding market concentration rate, saturation rate, feasibility analysis from new entrants, as well as substitute's status and trends. It indicates the developing space and prospects of the current industry.
Chapter 4 analyzes extensive company profiles, comprising company basic info, product or service profiles, and sales, price, value, gross, and gross margin 2018-2023. It incorporates the Intelligent Intersection market ranking, benchmarks, and company business portfolio.
Chapter 5 presents trade statistics of import and export volume from 2018-2023, demonstrating domestic and international market comparisons in specific countries.
Chapters 6-10 highlight Intelligent Intersection market status at the regional and country levels, including 5 major regions of North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The region and country list in the sample is only for reference, and it can be adjusted as required.
Chapter 11 involves geographical market figures of sales, value, market share, and growth rate. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of each specific region.
Chapters 12-13 evaluate the Intelligent Intersection market based on different types and applications. It focuses on sales and value of 2018-2023 from both vertical and horizontal perspectives.
Chapters 14-15 elaborate on the Intelligent Intersection market forecast data from 2023-2028, segmented by types and applications, regions, and major countries, helping readers to know future aspects and growth trends.
Chapter 16 ends with an elaboration of data sources and research methodology. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
2022
The intelligent intersection can reduce congestion and increasing safety for all transportation users. It is to increase efficiency and safety of intersections through sensor-based (mounted on infrastructure) object detection and fusion as well as a holistic traffic understanding.
Influence of COVID-19 Outbreak on Intelligent Intersection Industry Development
COVID-19 epidemic makes it more important for emergency workers to arrive at the scene efficiently and safely, because it puts heavy pressure on the medical care system, and emergency workers and medical care providers all over the world have to do more with the same or relatively similar ability level. For transit, faster passage of routes means that passengers have lower risk of exposure to viruses, because the use of intelligent intersections can minimize their time in transit vehicles. Intelligent intersections can improve the efficiency and safety of intersections and prevent collisions with vulnerable road users and other traffic participants. At the same time, reduce traffic congestion and improve the time efficiency of medical rescue workers during the COVID-19 epidemic.
The epidemic situation has promoted the development of technology, and the adoption of cloud-based software and artificial intelligence (AI) is an important trend. During the pandemic, the traffic volume of public transportation decreased, and people walked and rode bicycles more. Artificial intelligence helps cities keep a delicate balance between vehicles, pedestrians and cyclists.
Key measures related to building smart cities will continue to gain momentum, because the macro trend and demand of increasing population density in metropolitan areas. As the population continues to grow, the response to climate change will only become stronger and stronger. In the future, the intelligent intersection industry will continue to develop.
Drivers
Intelligent intersections use vehicle counting cameras or vehicle counting sensors to detect vehicle density in all directions. After the vehicle density is detected, the duration of intersections in all directions changes dynamically. The "green light times" in traffic lights is automatically determined according to the vehicle density. At normal signaled intersections, vehicle counts are performed manually every hour every day, and loaded into the intersection controller by determining the best green light time. Since these times are constant, the time will not change with the change of vehicle density. In the application of intelligent intersection, the time varies according to the density, so the waiting time of intersection is minimized. Minimizing the waiting time of vehicles at intersections can not only save time, but also reduce the damage to the environment by saving fuel and reducing emissions. These advantages are one of the important factors driving the demand growth of Intelligent Intersection industry.
Market Challenges
There are many factors that lead to the backwardness of infrastructure, including insufficient funds or shortage, insufficient supply of development resources, inefficient development of labor force and poor repair and maintenance. Adequate infrastructure is the basic premise of the transportation system. For example, Sub-Saharan Africa ranks consistently at the bottom of all developing regions in terms of infrastructure performance; Burundi's economic development is at a significant disadvantage due to its poor infrastructure, particularly the inadequacy of its transport system. The transportation infrastructure in some countries is very backward and imperfect, which will challenge the implementation of Intelligent Intersection system.
Market Restraints
In order to improve the traffic capacity of intersections, intelligent transportation systems such as vehicle detection are introduced at intersections controlled by traffic lights. However, these lights sometimes fail to detect smaller vehicles, such as bicycles or motorcycles. For example, the induction loop sensor may not detect small vehicles, and the sensor whose sensitivity is set too high to avoid false triggering. Although typical motor vehicles have enough quality metal, such as steel, to interact with the magnetic field of the sensor, motorcycles and scooters are much lighter than cars, and bicycles may not even be made of metal. This happens most often when other vehicles are scarce in a day, and when small vehicles are coming from the direction with little traffic.
Region Overview:
Europe had the highest growth rate of all regions.
Company Overview:
Siemens is one of the major players operating in the Intelligent Intersection market, holding a share of 13.21% in 2022.
Siemens Mobility will be deploying its world renowned ATMS and adaptive traffic control technology. Siemens' Sitraffic Concert platform supervises and coordinates the functionality of the ATMS system and it will work directly with the adaptive traffic control system called SCOOT (Split Cycle and Offset Optimization Technique), a dynamic, on-line, real-time method of signal control that continuously measures traffic demand on all approaches to intersections.
Cisco was founded in 1984 by a small group of computer scientists from Stanford University. Since the company's inception, Cisco engineers have been leaders in the development of Internet Protocol (IP)-based networking technologies. Today, with more than 71,000 employees worldwide, this tradition of innovation continues with industry-leading products and solutions in the company's core development areas of routing and switching, as well as in advanced technologies such as home networking, IP telephony, optical networking, security, storage area networking, and wireless technology. In addition to its products, Cisco provides a broad range of service offerings, including technical support and advanced services.
Segmentation Overview:
As for product types, the Hardware segment held the largest market share in 2021.
Application Overview:
By application, the Traffic Management segment occupied the biggest share from 2017 to 2022.
The Intelligent Intersection market report covers sufficient and comprehensive data on market introduction, segmentations, status and trends, opportunities and challenges, industry chain, competitive analysis, company profiles, and trade statistics, etc. It provides in-depth and all-scale analysis of each segment of types, applications, players, 5 major regions and sub-division of major countries, and sometimes end user, channel, technology, as well as other information individually tailored before order confirmation.
Meticulous research and analysis were conducted during the preparation process of the report. The qualitative and quantitative data were gained and verified through primary and secondary sources, which include but not limited to Magazines, Press Releases, Paid Databases, Maia Data Center, National Customs, Annual Reports, Public Databases, Expert interviews, etc. Besides, primary sources include extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs, and marketing executives, downstream distributors, as well as end-clients.
In this report, the historical period starts from 2018 to 2022, and the forecast period ranges from 2023 to 2028. The facts and data are demonstrated by tables, graphs, pie charts, and other pictorial representations, which enhances the effective visual representation and decision-making capabilities for business strategy.
Key Companies in the global Intelligent Intersection market covered in Chapter 4:
Cubic Corporation
Tagmaster
SWARCO
Parsons Corporation
Iteris, Inc.
Cisco
Thales Group
Siemens
Econolite
Continental
Tapco
In Chapter 12 and Chapter 14.1, on the basis of types, the Intelligent Intersection market from 2018 to 2028 is primarily split into:
Solution
Hardware
In Chapter 13 and Chapter 14.2, on the basis of the Downstream Industry, the Intelligent Intersection market from 2018 to 2028 covers:
Traffic Management
Road Safety and Surveillance
Freight Management
Public Transport
Environment Protection
Automotive Telematics
Parking Management
Road User Charging
Automated Vehicles
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, history and forecast (2018-2028) of the following regions are covered in Chapters 6, 7, 8, 9, 10, 11, 15:
North America (United States, Canada, Mexico)
Europe (Germany, United Kingdom, France, Italy, Spain)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia)
South America (Brazil, Argentina)
Middle East & Africa (Saudi Arabia, UAE, South Africa)
Outline:
Chapter 1 begins with the Intelligent Intersection market scope and definition, product segment introduction, global overall market size, as well as market dynamics scenarios such as opportunities, challenges, and industry development trends under inflation. It offers a high-level view of the current state of the Intelligent Intersection market and its likely evolution in the short to mid-term and long term.
Chapter 2 provides Intelligent Intersection industry chain analysis, covering raw materials analysis, cost structure, price estimate, and forecast, along with price-impacting factors, downstream channels, and major customers. It aims to help readers to grab insights into product upstream, midstream, and downstream fields.
Chapter 3 depicts Intelligent Intersection industry competitive analysis regarding market concentration rate, saturation rate, feasibility analysis from new entrants, as well as substitute's status and trends. It indicates the developing space and prospects of the current industry.
Chapter 4 analyzes extensive company profiles, comprising company basic info, product or service profiles, and sales, price, value, gross, and gross margin 2018-2023. It incorporates the Intelligent Intersection market ranking, benchmarks, and company business portfolio.
Chapter 5 presents trade statistics of import and export volume from 2018-2023, demonstrating domestic and international market comparisons in specific countries.
Chapters 6-10 highlight Intelligent Intersection market status at the regional and country levels, including 5 major regions of North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The region and country list in the sample is only for reference, and it can be adjusted as required.
Chapter 11 involves geographical market figures of sales, value, market share, and growth rate. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of each specific region.
Chapters 12-13 evaluate the Intelligent Intersection market based on different types and applications. It focuses on sales and value of 2018-2023 from both vertical and horizontal perspectives.
Chapters 14-15 elaborate on the Intelligent Intersection market forecast data from 2023-2028, segmented by types and applications, regions, and major countries, helping readers to know future aspects and growth trends.
Chapter 16 ends with an elaboration of data sources and research methodology. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
