Intelligent Traffic Management System Market Analysis

The intelligent traffic management system market is segmented by product into traffic monitoring system, traffic signal control system, traffic enforcement camera, intelligent driver information system, integrated corridor management, and others, out of which, the traffic enforcement camera segment is anticipated to hold the largest share in the market. This can be accounted to the effectiveness of these cameras to monitor traffic flow and identify violations. Apart from this, traffic enforcement cameras enable operators to verify and detect incidents on the basis of evaluation and real-time monitoring. Furthermore, based on end user, the segment for highway is evaluated to gather the largest market share over the forecast period owing to the rising adoption of smart cities in developing nations. For instance, as per the Indian Brand Equity Foundation (IBEF), in 2020, USD 28.31 billion were allocated for smart city projects, out of these, 86% have been tendered as of now.

Our in-depth analysis of the global market includes the following segments: