Intelligent Traffic Management System Industry - Regional Synopsis
On the basis of geographical analysis, the intelligent traffic management system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is expected to dominate majority revenue share by 2037, on the back of robust rate of urbanization, rising traffic congestion and increasing number of fatalities due to road accidents. in 2019. Moreover, the market in North America is anticipated to grab the largest market share over the forecast period owing to the rising demand for real time data among drivers and increasing adoption of IoT in the region. Additionally, the surge in the number of traffic management projects and intensifying developments in Information and Communication Technology (ICT) are expected to drive market growth in the region.
