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Intelligent Traffic Management System Market Trends

  • Report ID: 3224
  • Published Date: Sep 02, 2024
  • Report Format: PDF, PPT

Intelligent Traffic Management System Market Trends

Growth Drivers

  • Increasing Urbanization Around the World
  • Growing Number of Smart City Projects in Emerging Economies

Challenges

  • Lack of Awareness about Smart Analytics in Under-Developed Nations

Intelligent Traffic Management System Market: Key Insights

Base Year

2023

Forecast Year

2024–2036

CAGR

13.9%

Base Year Market Size (2023)

USD 11.69 billion

Forecast Year Market Size (2036)

USD 63.48 billion

Regional Scope
  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Browse Key Market Insights with Data Illustration:

Author Credits:  Abhishek Verma


  • Report ID: 3224
  • Published Date: Sep 02, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of intelligent traffic management system is evaluated at USD 12.99 billion.

Intelligent Traffic Management System Market size was over USD 11.69 billion in 2023 and is poised to cross USD 63.48 billion by 2036, growing at more than 13.9% CAGR during the forecast period i.e., between 2024-2036. The market growth is impelled by increasing urbanization around the world and growing number of smart city projects in emerging economies.

Asia Pacific is set to dominate majority revenue share by 2036, on the back of robust rate of urbanization, rising traffic congestion and increasing number of fatalities due to road accidents.

The major players in the market are Accenture PLC, Cisco Systems, Inc., Cubic Corporation, Siemens AG, SWARCO AG, and others.
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