Smart Traffic Camera Market to Reach $32.34 Bn, Globally, by 2030 at 14.6% CAGR: Allied Market Research
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Thursday, October 14, 2021
PORTLAND, Ore., Oct. 14, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, " Smart Traffic Camera Market by Component (Hardware, Software, and Service), Applications (Surveillance and Traffic Management, Toll Management and Others), Deployment Model (Traffic Monitoring and Traffic Enforcement) and Camera Type (Fixed Cameras, Mobile Speed Camera, Red Light Camera, Surveillance Camera, and Others): Global Opportunity Analysis and Industry Forecast, 20212030."
Key Points:
- PORTLAND, Ore., Oct. 14, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, " Smart Traffic Camera Market by Component (Hardware, Software, and Service), Applications (Surveillance and Traffic Management, Toll Management and Others), Deployment Model (Traffic Monitoring and Traffic Enforcement) and Camera Type (Fixed Cameras, Mobile Speed Camera, Red Light Camera, Surveillance Camera, and Others): Global Opportunity Analysis and Industry Forecast, 20212030."
- According to the report, the global smart traffic camera industry generated $8.36 billion in 2020, and is estimated to reach $32.34 billion by 2030, witnessing a CAGR of 14.6% from 2021 to 2030.
- Increase in concerns related to public safety, surge in the number of vehicles and insufficient infrastructure, and development of smart cities worldwide drive the growth of the global smart traffic camera market.
- This is due to increase in investments by governments in traffic management solutions to identify traffic violators through intelligent traffic cameras in the region.