North America Intelligent Traffic Management System Market to Reach $9.5 Billion by 2030
DUBLIN, Aug. 5, 2022 /PRNewswire/ -- The "North America Intelligent Traffic Management System Market Size, Share & Trends Analysis Report by Solution (Integrated Corridor Management, Intelligent Driver Information System), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The North America intelligent traffic management system market size is expected to reach USD 9.50 billion by 2030 and grow at a significant CAGR of 11.5% from 2022 to 2030. The need to restructure transportation networks owing to an expanding urban population, and increased industrialization, are projected to drive the market growth. These technologies help alleviate traffic congestion, decrease delays, and provide correct information to commuters and traffic managers. The government plans to build smart cities with improved road networks are likely to positively influence the growth of the market.
For instance, in June 2020, the county of Miami Dade, Florida, implemented Advanced Traffic Management System (ATMS), to monitor and manage traffic flows by optimizing signal timing. These advancements in technology will further boost the demand for ITMS solutions in the region during the forecast period.
North America Intelligent Traffic Management System Market Report Highlights
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