Beyond Congestion: A Deep Dive into the Growing Traffic Management Market

With the world more urbanized than ever before, traffic control has never been so pressing. With our cities expanding and more automobiles cluttering our streets, the need for advanced, intelligent traffic control systems is higher than ever. The new report from Insight Partners provides a concise analysis of this rapidly expanding industry, clearly demarcating an upcoming market to balloon with advancement and technology.

According to the report, the global traffic management market is on a path of high growth. Estimated at roughly US$39.76 billion in 2022, the market is expected to almost double by 2028 and reach US$77.35 billion, growing at a compound annual growth rate (CAGR) of 11.7% over the two years. This dramatic growth is a testament to the pressing necessity for greater, more thoughtful solutions to alleviate congestion, enhance public safety, and improve overall quality of urban life.

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Major Key Players:-
Axis Communications AB
Cisco Systems, Inc.
Cubic Corporation
Dahua Technology Co., Ltd.
Hangzhou Hikvision Digital Technology Co., Ltd.
IBM Corporation
SGS SA
Siemens AG
SNC-Lavalin Group

These are the root causes of growth in this market: the ever-growing urbanization, the relentless rise in car ownership, and massive government spending on smart city projects and transport networks. With people flocking to the cities, there is mounting pressure on existing road networks, creating a strong incentive for governments and private organizations to place complex traffic control systems.

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If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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