Jay Clemens
ReportsnReports has released a new report that predicts the global traffic management market will reach $16.89 billion in value by 2019 from the $3.56 billion recorded in 2014, an increase of 36.5 percent.
The report also contains analysis of market opportunity and technology adoption across cloud services, traffic management services and intelligent transport system, ReportsnReports said Monday.
ReportsnReports cites North America as “the largest revenue generator for services in the smart transportation market.”
The report also examines key market drivers, restraints, challenges and opportunities.
ReportsnReports also projected the parking management market to grow 7.5 percent between 2014 and 2019 and the smart transportation market to grow 18.3 percent over the same forecast period.
