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Friday , 1 March 2024

Intelligent Traffic Management Systems Market to grow

According to a new report by Fact. MR, the global market of intelligent traffic management systems  is estimated to grow at a robust CAGR of 11.8% during 2017-2028, and likely to surpass to a value of US$ 31 billion by 2026- end. Rapid inclination towards improving roadway infrastructure and growing need for innovative technologies to manage and monitor high-speed mobility in an efficient manner are the leading factors impacting the growth intelligent traffic management system market. Growing need to change or reshape transportation networks to avoid traffic jams is anticipated to reflect favourably on the global intelligent traffic management systems market.

Rapid movement of advanced technologies such as artificial intelligence, robotics and others in North America has influenced it to remain at the forefront of intelligent traffic management systems market, contributing an estimated revenue of more than US$ 3.9 billion in 2018. The US accounts for relatively high share in the North America intelligent traffic management systems market, and is projected to expand at a promising CAGR of 10.1% during the forecast period.

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