North America Intelligent Traffic Management System Market 2018:Quantitative Market Analysis, Current and Future Trends
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 ...