The North America Intelligent Traffic Management System (ITMS)
market size is expected to reach USD 10.4 billion by 2024, according
to a new report by Grand View Research, Inc., exhibiting a 13.8% CAGR during
the forecast period. Increasing encouragement for effective traffic management
in smart cities has led to growing utilization of ITMS in North America. There
is a soaring adoption of cloud computing and data analytics in traffic
management, which further boosts the market. ITMS for traffic monitoring
accounted for the maximum revenue share in 2016. This segment is expected to
expand at a CAGR of 12.9 % over the course of the forecast period.
ITMS is
used for collecting, processing, analyzing, summarizing, and disseminating
traffic data. Traffic monitoring systems include both software and hardware
devices such as video surveillance systems, closed circuit televisions, loop
detector systems, radar sensors, video detection software systems, and
communication systems. Intelligent driver information systems are expected to
register the highest CAGR of 18.4% over the forecast period. The segment is
expected to reach USD 1.69 billion by 2024.
Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/north-america-intelligent-traffic-management-system-itms-market
https://www.grandviewresearch.com/industry-analysis/north-america-intelligent-traffic-management-system-itms-market
Further key findings from the report suggest:
- Intelligent
driver information systems and integrated corridor management systems
emerged as most prominent solutions in the ITMS market in 2016 and are
anticipated to grow exponentially over the forecast period
- The
industry in Canada is projected to witness substantial growth over the
next decade owing to various developments across the country, especially
in the automotive industry. The market is expected to develop at a CAGR of
15.4% from 2017 to 2024
- Key
players in the intelligent traffic management system market include ADDCO;
Agero Inc.; Denso Corporation; and Hitachi Ltd.
About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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