This market perspective aims to provide a summary of the most important public transportation trends in the context of smart cities in Latin America, using an analysis of primary and secondary information sources.
This analysis includes definitions and a description of intelligent transportation use cases that IDC includes in its analysis, how technology is being implemented to produce outcomes and a future outlook.
Finally, this document provides an analysis of a few examples in Latin America, ending in key recommendations for vendors and service providers.
"Latin America's intelligent transportation market will grow from $281 million in 2019 to over $972 million by 2022 with a compound annual growth rate (CAGR) of 36%. The market will triple in 4 years with stable growth rates throughout the forecast period as solutions start to evolve and gain traction." says Diego Anesini, Research Director, Latin America. "Considering the impact of a rapidly growing urban population in Latin America, it makes sense to see that intelligent transportation is among the top strategic priorities in terms of technology spending in the region".
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