UAE Intelligent Transportation System Market (2017-2023)
UAE intelligent transportation system market registered substantial growth on account of large scale Infrastructural projects as well as increasing number of vehicles in the country. Additionally, some other key factors such as a 27% surge in the infrastructural spending by UAE government would lead to an increase in number of projects in the transportation sector, resulting in surge in demand for intelligent transportation system. Further, growing traffic congestion level coupled with increasing mass transit security concerns have fueled the growth of intelligent transportation system market in UAE.
According to 6Wresearch, UAE Intelligent Transportation market is projected to grow at a CAGR of 9.2% during 2018-24. In 2016, the market registered slowdown in demand in terms of volume due to shrinking government spending owing to declining oil prices and halt in major government...