Smart Signaling Market Share

On the basis of geographical analysis, the smart signaling market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The smart signaling market in the Asia Pacific industry is poised to hold largest revenue share by 2037, on the back of growing adoption of traffic management systems and high traffic congestion in the region. According to the Indian Brand Equity Foundation, in 2010, USD 28.31 billion were allocated from smart city mission, out of which 86 percent projects have been tendered as of now. Apart from these, several ongoing projects related to smart cities and increasing government investments in smart transportation projects are also assessed to drive market growth in the APAC in the near future. Moreover, the market in Europe is anticipated to grab the largest share during the forecast period owing to the high government and private spending on transport infrastructure, rising emphasis on employment of sustainable transport and strong presence of major smart signaling market players in the region.