Intelligent Traffic Systems Market Insights Video

According to Cognitive Market Research, the global intelligent traffic system market size was USD 10524.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 12.2% from 2024 to 2031.

• North America held the major market share for more than 40% of the global revenue with a market size of USD 4209.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.4% from 2024 to 2031.
• Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3157.26 million.
• Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2420.57 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.2% from 2024 to 2031.
• Latin America had a market share of more than 5% of the global revenue with a market size of USD 526.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.6% from 2024 to 2031.
• Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 210.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.9% from 2024 to 2031.
• The traffic monitoring system category is the fastest growing segment of the intelligent traffic system industry