- Governments are promoting sustainable transportation, electric vehicles (EVs), and data-driven traffic management systems through funding, regulations, and partnerships with tech firms.
- The market is propelled by Integration of Internet of Things (IoT), AI, and big data in transport systems enhances traffic flow, safety, and predictive maintenance, opening new markets for smart mobility services.
- China holds a significant market share due to its advanced technology infrastructure, high adoption of Smart Transportation technologies, and presence of key players like Kapsch Traffic Com AG, Thales Group, Alstom, Schneider Electric.
- China is expected to register the fastest growth, fuelled by Integration of Internet of Things (IoT), AI, and big data in transport systems enhances traffic flow, safety, and predictive maintenance, opening new markets for smart mobility services.
- The Traffic Management Solution segment is projected to account for a significant market share of approximately 38.10% in 2025, driven by the widespread adoption of Smart Transportation systems in the country.
