Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Intelligent Traffic Management System Market size was over USD 13.31 billion in 2024 and is anticipated to cross USD 72.27 billion by 2037, growing at more than 13.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of intelligent traffic management system is estimated at USD 14.88 billion.
The growth of the market can be attributed to the increasing urban population across the world, coupled with rising traffic congestion on roadways and high demographic rates. According to the World Bank, the urban population of the world rose to 55.715% of the world’s total population in 2019, up from 54.823% in the year 2017. Along with these, growing demand to develop fuel-efficient and economic transport infrastructure is giving rise to the escalating demand for implementing efficient traffic management systems. This in turn is expected to drive market growth in the upcoming years. In addition, increase in the number of smart city projects in emerging economies such as Singapore, India and Malaysia, is also projected to offer lucrative opportunities to the market in the near future.
