The Latin America, Middle East and Africa Intelligent Traffic Management System Market would witness market growth of 16.50% CAGR during the forecast period (2021-2027).
The best solution for traffic management optimization and uplifting logistics companies’ authenticity is intelligent transport management systems. Road authorities are benefited from these systems as they can optimize their working progress. Problems related to roads can be solved efficiently due to the integration of traffic signal control systems, navigation systems, speed sensors, and real-time monitoring of data from various sources.
The most substantial role in an advanced traffic management system is played by software enhancements along with their capability to examine data input and offer prevention suggestions and insights on traffic reduction. The emergence of technological advancements like artificial intelligence has made it possible to reshape traffic management systems from a proactive approach to a reactive one.
The Arriyadh Development Authority (ADA) of Saudi Arabia chose TransCore to deploy and develop an innovative traffic control system to enhance the flow of traffic. TransCore would implement a TransSuite software solution for this $100 million transportation project to monitor and supervise operations at 350 of Riyadh’s most used intersections.
In Dubai, Falcon ITS got the biggest road infrastructure projects in the area that was procured by Scientechnic Mobility. It is the region’s first Intelligent Traffic System made to offer traveller information capability for long routes, expressways, and freeways and real-time integrated traffic to increase road safety and decrease congestion.
The Brazil market dominated the LAMEA Intelligent Traffic Management System Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $413.3 Million by 2027. The Argentina market is estimated to witness a CAGR of 17.5% during (2021 - 2027). Additionally, The UAE market would exhibit a CAGR of 15.9% during (2021 - 2027).
Based on solution, the market is segmented into traffic monitoring systems, intelligent driver information systems, integrated corridor management, traffic signal control systems, traffic enforcement cameras, and others solutions. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Intelligent Traffic Management System Market is Predict to reach $18.37 billion by 2027, at a CAGR of 15.60%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Siemens AG, Thales Group S.A., Kapsch TrafficCom AG (Datax Handelsgmbh), SNC-Lavalin Group, Inc. (Atkins PLC), Q-Free ASA, Wabtec Corporation, Cubic Corporation, TomTom N.V., and TransCore.
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