What are Main Factors Pushing Up Global Sales of Intelligent Traffic Cameras?

The rising prevalence of road accidents is rapidly becoming a serious issue in several countries around the world. Moreover, road accidents are claiming more and more lives all over the world every year, owing to which, traffic regulatory authorities in various countries are increasingly adopting intelligent traffic cameras. These cameras capture video sequences and images of vehicles and then analyze this data with the help of face recognition, motion analysis, and other high-level image processing techniques.

To receive free sample pages of this report: https://www.psmarketresearch.com/market-analysis/intelligent-traffic-camera-market/report-sample

Apart from mitigating the occurrence of road accidents, these cameras also help in managing road traffic and reducing road congestion in the urban areas. The better management of road traffic reduces the traveling time and leads to fuel conservation. In various major cities, such as those in China, India, Mexico, and Brazil, intelligent traffic cameras are being increasingly used by traffic authorities for managing the flow of traffic and reducing congestion.

In India, a pilot project for the country's first intelligent traffic system (ITS) was launched in February 2019. Under this project, several smart traffic systems equipped with intelligent traffic cameras and smart traffic signals were installed at as many as four locations in the areas where the road traffic remains high throughout the day. Thus, with the growing usage of intelligent traffic cameras in several countries, the global intelligent traffic camera market will demonstrate rapid expansion in the future.

Inquire Before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=intelligent-traffic-camera-market

The market is predicted to grow, in valuation, from $10,087.8 million to $24,465.6 million from 2019 to 2030, exhibiting a CAGR of 8.5% from 2020 to 2030. Based on application, the market is categorized into toll management, surveillance, and traffic management. Out of these, the surveillance category recorded the highest volumetric growth in the market in the past, due to the launch of various smart city development programs by several governments around the world.

Additionally, because of the rapid urbanization, rising road congestion levels in major cities and urban areas, and the rising prevalence of road accidents, the governments of several developing nations of APAC such as China and India are making huge investments in road traffic infrastructure and traffic management solutions, including the installation of intelligent traffic cameras for catching the violators. These factors would augment the usage of intelligent traffic cameras in this region in the coming years.

Thus, with the rising incidence of road crashes and increasing road congestion, the requirement for intelligent traffic cameras will shoot-up across the world in the upcoming years.

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

Contact:
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

This release was published on openPR.