At 15.0% CAGR, the South & Central America Adaptive Traffic Control System Market is projected to be worth US$ 501.48 million by 2030 says Business Market Insights

According to Business Market Insights research, the South & Central America adaptive traffic control system market was valued at US$ 164.50 million in 2022 and is expected to reach US$ 501.48 million by 2030 registering a CAGR of 15.0% from 2022 to 2030. Increasing urban population and vehicle sales and growing investment in roadway infrastructure are the critical factors attributed to the South & Central America adaptive traffic control system market expansion.        

Increasing demand for strong connectivity and developed infrastructure is raising investments in developing smart cities. Smart cities are technologically advanced urban areas which integrate a variety of sensors and electronic solutions which can help to gather data and utilize it for the betterment of the locality.  It is also seen that along with smart cities, various countries are investing in developing smart roadways to provide a safe vehicle commute. Different types of sensors and hardware are deployed in smart roadways which helps to collect multivariate data that can be further used for traffic monitoring. This data can also be shared with vehicles traveling on the road, helping them to make informed decisions. In addition, vehicle manufacturers are also making IoT-enabled vehicles with sensors and devices that can help them gather various data. This vehicle data can be utilized to understand the congestion level at specific road sections, which can be further help to determine the average number of vehicles present at a specific point, and further estimate the traveling time for a vehicle. Based on such data, traffic on different lanes can be maintained, congestion can be predicted and avoided promptly, and the commuting time in urban areas can be lowered by 15–20%. Hence, the growing development of smart cities and increasing adoption smart roadways will provide lucrative opportunities for the growth of the South & Central America adaptive traffic control system market during the forecast period.

On the contrary, increasing security threats hampers the South & Central America adaptive traffic control system market.  

Based on type, the South & Central America adaptive traffic control system market is segmented into hardware, software, and services. The software segment held 59.2% share of South & Central America adaptive traffic control system market in 2022, amassing US$ 97.38 million. It is projected to garner US$ 319.32 million by 2030 to expand at 16.0% CAGR during 2022–2030.

Based on component, the South & Central America adaptive traffic control system market is divided into OPAC, SCOOT, RHODES, and SCATS. The SCATS segment held 43.7% share of South & Central America adaptive traffic control system market in 2022, amassing US$ 71.92 million. It is projected to garner US$ 213.99 million by 2030 to expand at 14.6% CAGR during 2022–2030.

Based on application, the South & Central America adaptive traffic control system market is bifurcated into highways and urban (cities). The urban (cities) segment held 71.0% share of South & Central America adaptive traffic control system market in 2022, amassing US$ 116.88 million. It is projected to garner US$ 371.09 million by 2030 to expand at 15.5% CAGR during 2022–2030.

Based on country, the South & Central America adaptive traffic control system market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 52.3% share of South & Central America adaptive traffic control system market in 2022. It was assessed at US$ 85.99 million in 2022 and is likely to hit US$ 302.19 million by 2030 exhibiting a CAGR of 17.0% during 2022–2030.    

Key players operating in the South & Central America adaptive traffic control system market are Aldridge Traffic Controllers Pty Ltd, Digicon SA, Johnson Controls International Plc, Kapsch TrafficCom AG, and Q-Free ASA, and among others.

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