DUBLIN–(BUSINESS WIRE)–The “Adaptive Traffic Control System Market Forecast to 2030 – Global Analysis by Type, Component, and Application” report has been added to ResearchAndMarkets.com’s offering.
The global Adaptive Traffic Control System (ATCS) market is set to experience substantial growth, expanding from $5.44 billion in 2022 to an estimated $23.02 billion by 2030, at a remarkable compound annual growth rate (CAGR) of 19.7% from 2023 to 2030.
The adoption of artificial intelligence (AI) in traffic control systems is revolutionizing urban transportation worldwide. AI integration promises to alleviate traffic congestion, reduce travel times, and minimize pollution. Additionally, AI-powered systems enable law enforcement agencies to identify traffic rule violators and enforce road traffic discipline effectively. By combining smart traffic management systems with AI and cameras installed at intersections, these systems can detect and identify vehicles disobeying traffic rules, issuing real-time alerts at Central Command Centers and imposing fines on offenders.
Furthermore, advanced traffic management systems can predict congestion, survey road conditions, alert emergency services during accidents, and inform drivers about available parking spots. Several governments, recognizing these benefits, are actively implementing AI-based traffic management systems.
For instance, the government of India announced plans in March 2023 to implement an AI-powered traffic management system in Goa, enhancing signal management, security, and fine issuance while automatically detecting violations and dispatching e-challans to violators’ addresses. The rising adoption of AI-based traffic control systems is expected to drive the growth of the ATCS market.
Market Segmentation:
The ATCS market is segmented into various key components:
1. By Application:
2. By Technology:
3. By End-User:
4. By Region:
Market Dynamics:
Drivers
Restraints
Opportunities
Trends
Regional Insights:
Key Market Players:
Key Attributes:
Report Attribute | Details |
No. of Pages | 178 |
Forecast Period | 2022 – 2030 |
Estimated Market Value (USD) in 2022 | $5.44 billion |
Forecasted Market Value (USD) by 2030 | $23.02 billion |
Compound Annual Growth Rate | 19.7% |
Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/da8z5f
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