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Traffic Management System Market Size
- Report ID: GMI2363
- Published Date: Aug 2020
- Report Format: PDF
Traffic Management System Market Size
Traffic Management System Market size surpassed USD 20 billion in 2019 and is anticipated to grow at over 5% CAGR between 2020 and 2026. Growing demand to reduce traffic congestion and ease traffic flow for commuters is driving the industry growth.
Increasing need for route guidance & optimization solutions to reduce carbon footprint is being witnessed. Rapid urbanization and congestion in cities globally have led to several government administrations to invest in smart city projects with an aim to provide proper infrastructure and smart transportation systems to all its citizens.
The industry had observed decline in 2020 owing to the coronavirus (COVID-19) pandemic. The scale of the pandemic can be compared to 9/11 or the 2008 financial crisis that impacted the global economy. The coronavirus pandemic has caused global trade tensions, financial disruptions, and sharp downturns in major economies.
| Report Attribute | Details |
|---|---|
| Base Year: | 2019 |
| Traffic Management System Market Size in 2019: | 20 Billion (USD) |
| Forecast Period: | 2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR: | 5% |
| 2026 Value Projection: | 25 Billion (USD) |
| Historical Data for: | 2016 to 2019 |
| No. of Pages: | 300 |
| Tables, Charts & Figures: | 472 |
| Segments covered: | Component, Deployment Model, Application and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Traffic Management System Market Scope
