At 21.5% CAGR, the Asia Pacific Adaptive Traffic Control System Market is projected to be worth US$ 5,470.33 million by 2030 says Business Market Insights

According to Business Market Insights research, the Asia Pacific adaptive traffic control system market was valued at US$ 1,149.86 million in 2022 and is expected to reach US$ 5,470.33 million by 2030 registering a CAGR of 21.5% from 2022 to 2030. Increasing urban population and vehicle sales and growing investment in roadway infrastructure are the critical factors attributed to the Asia Pacific adaptive traffic control system market expansion.

The growing adoption of AI in traffic control systems is expected to reshape urban transportation across the world. The use of AI will help to reduce traffic congestion, travel time, and pollution. It will also help law enforcement agencies to penalize the offenders, leading to an improvement in road traffic discipline. Integrating AI technology will help combine smart traffic management systems and AI with cameras installed at intersections to detect and identify vehicles disobeying traffic rules. It will generate real-time alerts at the Central Command Center, thus imposing fines on offenders. The advanced traffic management systems can also effectively understand and predict congestion at a juncture at a specific time point, survey road conditions, predict congestion on a specific stretch of road, alert emergency services in case of an accident, and suggest the driver of an available parking spot. Thus, owing to the above benefits, various countries' governments are implementing AI-based traffic management systems. In March 2023, the government of India announced the implementation of an AI-powered traffic management system in Goa at Merces junction. The system will help the authorities with signal management, security, and issuing fines. The technology will also automatically detect violations and dispatches an e-challan to the violator’s address. Thus, the growing adoption of AI-based traffic control systems is expected to propel the growth of the Asia Pacific adaptive traffic control system market during the forecast period.

On the contrary, increasing security threats hampers the Asia Pacific adaptive traffic control system market.

Based on type, the Asia Pacific adaptive traffic control system market is segmented into hardware, software, and services. The software segment held 55.7% share of Asia Pacific adaptive traffic control system market in 2022, amassing US$ 639.90 million. It is projected to garner US$ 3,365.73 million by 2030 to expand at 23.1% CAGR during 2022–2030.

Based on component, the Asia Pacific adaptive traffic control system market is divided into OPAC, SCOOT, RHODES, and SCATS. The SCATS segment held 46.1% share of Asia Pacific adaptive traffic control system market in 2022, amassing US$ 530.64 million. It is projected to garner US$ 2,492.83 million by 2030 to expand at 21.3% CAGR during 2022–2030.

Based on application, the Asia Pacific adaptive traffic control system market is bifurcated into highways and urban (cities). The urban (cities) segment held 71.0% share of Asia Pacific adaptive traffic control system market in 2022, amassing US$ 816.65 million. It is projected to garner US$ 4,016.21 million by 2030 to expand at 22.0% CAGR during 2022–2030.

Based on country, the Asia Pacific adaptive traffic control system market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 25.0% share of Asia Pacific adaptive traffic control system market in 2022. It was assessed at US$ 287.43 million in 2022 and is likely to hit US$ 1,506.53 million by 2030 exhibiting a CAGR of 23.0% during 2022–2030.      

Key players operating in the Asia Pacific adaptive traffic control system market are Aldridge Traffic Controllers Pty Ltd, Efftronics Systems Pvt Ltd, Trafiksol ITS Technologies Pvt Ltd, Kapsch TrafficCom AG, EFKON India Pvt. Ltd., Johnson Controls International Plc, and Q-Free ASA, among others.

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