Lucintel’s latest market report analyzed that smart traffic management system provides attractive opportunities in the infrastructure industry. The smart traffic management system market is expected to reach $13.2 billion by 2025 with a CAGR of 8.2%. In this market, traffic monitoring system is the largest segment by product, whereas highway is largest by application. The growth of adaptive traffic control & traffic analytics and emergence of mobility as a service (MaaS) provides strategic growth path in this market.
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Based on product, the smart traffic management system market is segmented into traffic monitoring system, traffic signal control system, traffic enforcement camera, intelligent driver information system, and integrated corridor management. The traffic monitoring system segment accounted for the largest share of the market in 2020 due to its usage in controlling traffic infractions, reducing traffic accidents, and detecting potentially dangerous drivers.
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77 – Tables
64 – Figures
160 – Pages
The smart traffic management system market is marked by the presence of several big and small players. Some of the prominent players offering smart traffic management system include Kapsch, Siemens, Transcore, Delcan, Q-Free, SwRI, Xerox, SICE, Dynniq, and IBI Group and others.
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