Dublin: The Global Integrated Traffic Systems market is expected to reach $44.12 billion by 2026 growing at a CAGR of 9.8% during 2018 to 2026, said a latest report.
The integrated traffic system is a combination of information technology and communication with transportation infrastructure, which improves passenger safety and enhances the ability of the overall transport process.
The Global Integrated Traffic Systems market is now witnessing growing market growth due to the increase of number of cities in developing countries, reveals The “Global Integrated Traffic Systems Market Analysis 2019” report released by ResearchAndMarkets.com.
Increasing urbanization and car ownership are influencing the market growth. However, the lack of standardized and uniform technologies is hindering the market growth. Moreover, an increasing number of mega cities in developing countries provide an opportunity for market growth, the report added.
Based on Hardware, Sensors segment is dominating the market. Sensors play a pivotal role in controlling and organization a city’s traffic. Further, they help in providing driving assistance.