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Smart Traffic Camera Market to Reach $32.34 Bn, Globally, by 2030 at 14.6% CAGR: Allied Market ResearchPORTLAND, Ore., Oct. 14, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Smart Traffic Camera Market by Component (Hardware, Software, and Service), Applications (Surveillance and Traffic Management, Toll Management and Others), Deployment Model (Traffic Monitoring and Traffic Enforcement) and Camera Type (Fixed Cameras, Mobile Speed Camera, Red Light Camera, Surveillance Camera, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global smart traffic camera industry generated $8.36 billion in 2020, and is estimated to reach $32.34 billion by 2030, witnessing a CAGR of 14.6% from 2021 to 2030.  Drivers, restraints, and opportunities Increase in concerns related to public safety, surge in the number of vehicles and insufficient infrastructure, and development of smart cities worldwide drive the growth of the global smart traffic camera market. However, high expenses associated with equipment installation and security threats hinder the market growth. On the other hand, rise in penetration of analytics software presents new opportunities in the coming years. Download Sample Report (Get Full Insights in PDF - 320 Pages) at: https://www.alliedmarketresearch.com/request-sample/14005 Covid-19 Scenario
Get detailed COVID-19 impact analysis on the smart traffic camera market: https://www.alliedmarketresearch.com/request-for-customization/14005 The hardware segment to maintain its leadership position throughout the forecast period Based on component, the hardware segment accounted for the highest share in 2020, accounting holding more than three-fifths of the global smart traffic camera market, and is projected to maintain its leadership position throughout the forecast period. This is due to rise in demand for hardware components among traffic offices to overcome challenges such as space constraints. However, the software segment is expected to portray the highest CAGR of 17.7% from 2021 to 2030, owing to rise in demand amon the governments to improve road safety and reduce traffic congestion and parameters. The surveillance and traffic management segment to maintain its lead position during the forecast period Based on application, the surveillance and traffic management segment held the largest share in 2020, accounting for more than three-fourths of the global smart traffic camera market, and is estimated to maintain its lead position during the forecast period. This is due to increase in traffic issues along with environmental issues such as accidents and air & noise pollution. However, the toll management segment is expected to manifest the fastest CAGR of 17.0% from 2021 to 2030. This is attributed to supportive government regulations toward installation of smart traffic cameras on toll booths across developing nations of Asia-Pacific and LAMEA. For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/14005 Asia-Pacific, followed by Europe and North America, to continue its dominant share by 2030 Based on region, Asia-Pacific, followed by Europe and North America, contributed to the highest market share in 2020, accounted for more than one-third of the global smart traffic camera market, and is projected to continue its dominant share in terms of revenue by 2030. Moreover, this region is expected to witness the largest CAGR of 15.9% from 2021 to 2030. This is due to increase in investments by governments in traffic management solutions to identify traffic violators through intelligent traffic cameras in the region. Leading market players
Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: hthttps://www.alliedmarketresearch.com/library-access Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements. Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter Similar Reports – Traffic Safety System Market - Global Opportunity Analysis and Industry Forecast, 2021-2028 Traffic Management Market - Global Opportunity Analysis and Industry Forecast, 2020–2027 360-degree Panoramic Camera Market - Global Opportunity Analysis and Industry Forecast, 2021-2028 About Us: Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact: David Correa
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