Dallas, TX / CRWE PRESS RELEASE / April 11, 2022 - According to the recent study the smart traffic management system market is projected to reach an estimated $13.2 billion by 2025 from $8.2 billion in 2019, at a CAGR of 8.2% from 2020 to 2025. Growth in this market is primarily driven by growing awareness of environmental protection, rising concern about water pollution levels, and the growing infrastructural activities.

Browse 77 figures / charts and 64 tables in this 160 -page report to understand trends, opportunities and forecast in smart traffic management system market by product (traffic monitoring system, traffic signal control system, traffic enforcement camera, intelligent driver information system, and integrated corridor management), by applications (Highway, Managed Lanes, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World).

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 “Traffic monitoring system market is expected to remain the largest segment during the forecast period.”

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. Lucintel forecasts that the traffic monitoring system market is expected to remain the largest segment over the forecast period due to its usage in controlling traffic infractions, reducing traffic accidents, and detecting potentially dangerous drivers.

“Within the smart traffic management system market, the highway segment is expected to remain the largest application”

Based on application, the highway segment is expected to witness the largest application over the forecast period over the forecast period, as the growing trend toward the adoption of smart cities is expected to drive the growth prospects for the highway market.

“North America will dominate the smart traffic management system market in near future”

North America is expected to be the largest region over the forecast period due to increasing adoption of IoT and growing need for real time data among drivers and passengers. APAC region is expected to witness highest growth over the forecast period due to increasing traffic congestions with growth of urbanization.

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Major players of smart traffic management system market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Kapsch, Siemens, Transcore, Delcan, Q-Free, SwRI, Xerox, SICE, Dynniq, and IBI Group and others are among the major Smart traffic management system providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/smart-traffic-management-system-market.aspx or helpdesk@lucintel.com