Integrated Smart Traffic Control System Market - Current Analysis and Forecast (2020-2026)

SAN FERNANDO, Calif. - Feb. 3, 2020 - PRLog -- The Global Integrated Smart Traffic Control System Market is projected to gain market revenue of US$ 29.6 billion by 2026, growing at a CAGR of 13.3% during the forecast period 2020-2026. Cities or urban areas have a long-standing history cultivating technological innovations that allow citizens to efficiently access goods and commute. However, the ease of access has been increasingly difficult to maintain under rapid urbanization and increasing demand for transportation burdens urban road infrastructures. This burdened roads then cause road congestions. The need for mobility is increasing, as can be seen from the growing number of road users as well as from the increasing number of movements per user. This leads to an increase in the frequency of traffic jams and the growing lengths of the queues in the traffic network. These traffic jams cause large delays, resulting in higher travel costs and they also have a negative impact on the environment due to e.g. noise and pollution. Due to these disadvantages dealing with traffic jams has become an important issue These congestions not only waste time and resources of the travelers but also costs in monitory terms.

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As per research, the economic cost of congestion across the US, UK and Germany was almost US$ 461 billion in 2017 or US$ 975 per capita. Thus, the urbanization of the cities is causing the cities to lose instead of gaining growth and development. Thus, the increasing urbanization is instigating the use of an integrated smart traffic control system. In the present scenario of ever-increasing population and the adverse effects of abundant traffic the old conventional ways of traffic management e.g. the traffic policemen, conventional traffic lights, high-resolution cameras and radar target detection systems cannot resonate with the need of the hour for efficient traffic monitoring due to the various drawbacks and inefficiency in their functionality due to inappropriate traffic clearance signaling algorithms of traffic lights which is not real-time based, complex image sensing of the cameras besides their huge cost of installation and maintenance, and malfunctioned radar target detection due to the cluster formations. In 2016, there were over 33.7 million registered vehicles in Canada, compared with 2009 stats which had nearly 20.5 million.

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