Latest News- Integrated Traffic Systems Market: Traffic monitoring system is expected to lead the Solution segment during 2025-2029

The Integrated Traffic Systems Market is being driven by Demand for effective traffic management due to growing number of vehicles

The Integrated Traffic Systems Market is expected to grow at a CAGR of 14.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 22916.4 million. The global issue of urban traffic congestion is escalating due to the surge in disposable income and inadequate public transportation systems. In 2023, the US experienced a significant financial impact of over USD 70.4 billion in losses, marking a 15% increase from the previous year. Similarly, the UK recorded nearly USD 7.9 billion in losses for drivers, representing an 11% rise, while German drivers faced USD 3.5 billion in time lost, a 14% increase. The expansion of the middle-income population in emerging economies, particularly in China and Southeast Asian countries such as Indonesia, Malaysia, the Philippines, Thailand, and Vietnam, is driving the registration of new vehicles, exacerbating traffic congestion. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Solution
  • Traffic monitoring system
  • Traffic control system
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Demand for effective traffic management due to growing number of vehicles
• Increasing toll road expansion plans
• Government initiatives for development of intelligent transportation system

However, the market also witnesses some limitations, which are as follows:

• High setup cost and operating cost
• Risk of errors and security breach
• Low product replacement cycle

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Market Scope in Integrated Traffic Systems Market Research Report

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Research Analysis Overview

The Integrated Traffic Systems market encompasses advanced technologies and infrastructure, including connected infrastructure, public transport integration, and pedestrian safety, to enhance urban planning and optimize traffic flow. It facilitates last-mile delivery, vehicle-to-infrastructure communication, and accident reduction through data analysis, traffic simulation, and real-time traffic data. Smart mobility, city logistics, and infrastructure investment are key components, promoting sustainable transportation and transportation policy. Digital twins, traffic safety, bike infrastructure, and traffic management systems are essential elements, along with vehicle-to-vehicle communication, traffic forecasting, route optimization, mobility innovation, emission reduction, green transportation, government regulations, transportation technology, traffic data, traffic impact assessment, traffic volume, real-time traffic monitoring, smart traffic management, traffic data collection, traffic congestion mitigation, speed enforcement, and traffic violation punishment.

Market Research Overview

The Integrated Traffic Systems market encompasses businesses specializing in engineering services and EPC contracts for non-residential projects, focusing on advanced traffic management solutions. Key growth drivers include the surge in public-private partnerships for urban infrastructure development, prioritizing road safety, and the integration of communications technologies. Advanced systems, such as intelligent transportation, connected vehicles, and smart city initiatives, are revolutionizing traffic management. The market's expansion is further fueled by the increasing demand for traffic information and surveillance systems, enhancing overall city infrastructure and mobility.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/