GITNUX MARKETDATA REPORT 2024

Traffic Management Industry Statistics

The Traffic Management Industry is expected to experience steady growth over the next few years due to increasing urbanization, technological advancements, and government initiatives to improve road safety and optimize traffic flow.

Statistic 1

"By 2023, the global traffic management market size is anticipated to reach $50.7 billion."

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Statistic 2

"Europe was the largest revenue contributor in 2016, lucratively accounting for approximately 38% share of the total market."

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Statistic 3

"North America will grow at a CAGR of 20.2%, the fastest among all regions by 2023."

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Statistic 4

"Approximately 65% of the global traffic management market calls on Urban Traffic Management solutions."

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Statistic 5

"Smart traffic management can lead to a reduction of 25% on average travel time."

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Statistic 6

"The US Traffic Management market size is expected to grow at a CAGR of 13.6% between 2020 and 2027."

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Statistic 7

"Traffic management technology integration can lead to a 20% submission in CO2 emissions."

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Statistic 8

"Urban traffic management systems account for about 40% of the overall traffic management market."

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Statistic 9

"Cloud-based traffic management solutions are expected to be the fastest-growing segment, at a CAGR of 21.6% between 2018 to 2026."

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Statistic 10

"The Asia Pacific region is forecasted to grow at the highest CAGR of 22.9% between 2020 to 2027 in the traffic management industry."

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Statistic 11

"The US traffic management market is expected to hit a staggering $1,251.7 Million by 2027."

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Statistic 12

"26% of adults say heavy traffic is a major problem in their community."

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Statistic 13

"Road user safety is considered the primary concern for approximately two-thirds of citizens."

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Statistic 14

"Worldwide, 1.35 million people die each year as a result of road traffic crashes."

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Statistic 15

"49% of Americans indicate that congestion on the roads or highways is a major problem in their local community."

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Statistic 16

"Roundabouts reduce fatal crashes by 90% and are therefore increasingly implemented in traffic management."

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Statistic 17

"About 54% of all road traffic deaths occur among vulnerable road users such as pedestrians, cyclists, and motorcyclists."

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Statistic 18

"The total economic cost of motor vehicle crashes in the US was $242 billion in 2010."

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Statistic 19

"Emergency medical services increased travel times by 14% due to traffic."

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Statistic 20

"Traffic management improvements have led to a 30% reduction in road accidents in urban areas."

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