At 19.1% CAGR, the North America Adaptive Traffic Control System Market is projected to be worth US$ 8,391.82 million by 2030 says Business Market Insights

According to Business Market Insights research, the North America adaptive traffic control system market was valued at US$ 2,078.58 million in 2022 and is expected to reach US$ 8,391.82 million by 2030 registering a CAGR of 19.1% from 2022 to 2030. Increasing urban population and vehicle sales and growing investment in roadway infrastructure are the critical factors attributed to the North America adaptive traffic control system market expansion.

The demand for better transportation facilities, such as better road conditions, smooth traffic flow, and connectivity between different areas, is rising worldwide due to the increasing population. As a result, the government authorities of different countries are focusing on developing their road infrastructure. The government of Ontario announced an investment of ~US$ 3 billion to repair and expand provincial highways and bridges from April 2022 to March 2023. Almost US$ 1.7 billion was used in southern Ontario and around US$ 624 million in northern Ontario to repair and expand highways and bridges. Growing investments in roadway infrastructure raises the need to implement adaptive traffic control systems to improve traffic flow and enhance vehicular safety. Thus, the rising expenditure on infrastructure is increasing the need for passenger and driver safety bolster the growth of the North America adaptive traffic control system market.

On the contrary, increasing security threats hampers the North America adaptive traffic control system market.  

Based on type, the North America adaptive traffic control system market is segmented into hardware, software, and services. The software segment held 56.3% share of North America adaptive traffic control system market in 2022, amassing US$ 1,170.56 million. It is projected to garner US$ 5,219.40 million by 2030 to expand at 20.5% CAGR during 2022–2030.

Based on component, the North America adaptive traffic control system market is divided into OPAC, SCOOT, RHODES, and SCATS. The SCATS segment held 44.1% share of North America adaptive traffic control system market in 2022, amassing US$ 917.19 million. It is projected to garner US$ 3,676.80 million by 2030 to expand at 19.0% CAGR during 2022–2030.

Based on application, the North America adaptive traffic control system market is bifurcated into highways and urban (cities). The urban (cities) segment held 71.5% share of North America adaptive traffic control system market in 2022, amassing US$ 1,486.28 million. It is projected to garner US$ 6,218.44 million by 2030 to expand at 19.6% CAGR during 2022–2030.

Based on country, the North America adaptive traffic control system market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 69.4% share of North America adaptive traffic control system market in 2022. It was assessed at US$ 1,442.94 million in 2022 and is likely to hit US$ 5,617.48 million by 2030 exhibiting a CAGR of 18.5% during 2022–2030.      

Key players operating in the North America adaptive traffic control system market are Aldridge Traffic Controllers Pty Ltd, Cubic Transportation Systems Inc, Econolite Group Inc, Johnson Controls International Plc, Kapsch TrafficCom AG, Kimley-Horn and Associates Inc, Miovision Technologies Inc, No Traffic, Q-Free ASA, and Rhythm Engineering Inc, among others.

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