Intelligent Traffic Management System Market Research Investigates World Market

Posted by Arslan on August 21st, 2019

 The Fact.MR report includes thorough assessment of the expansion of global intelligent traffic management system market during the forecast period of 2017-2026, and offers exhaustive information on the future direction of the market. Qualitative as well as quantitative analysis of the key factors of intelligent traffic management system market are mentioned in the report. In addition, it covers a detailed opportunity assessment of the intelligent traffic management systems market along with in-depth insights into its competitive scenario. The  intelligent traffic management system market will reach a valuation of US$ 31,692 Mn by 2026-end. Shifting focus towards improving road networks in expected to reflect favorably on the global market. Moreover, increasing need for technologies that can effectively manage and monitor high-speed mobility is creating greater scope of application of intelligent traffic management systems. A technology as such can effectively ensure passenger safety and address some of grave issues of traffic management. In highways and busy roads, it is extremely important to install advanced traffic management systems to monitor various the traffic activities.

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Some of latest intelligent traffic management systems come with cost saving solutions for maintenance and energy consumptions. The intelligent traffic management solutions are supporting the infrastructure development plans for smart cities and smart roads. Popularity of intelligent traffic management systems is growing among highway operators and traffic management bodies across the globe owing to their comprehensive road monitoring capabilities. Further, factors such as hyper urbanization and economic growth in emerging countries is expected to influence demand for intelligent traffic management systems.

Integrated Urban Traffic Control Systems Account for Largest Revenue Share

By product, integrated urban traffic control systems are likely to gain greater traction, expanding at a robust CAGR of 15.4% over the forecast period. Holding 16.9% value share, the segment contributes highest revenue to the intelligent traffic management systems market, and the trend is expected to continue during 2017-2026.

According to the findings from the study, growth of the intelligent traffic management systems market continues to gain traction, facilitating an integrated control on urban traffic. By the end of 2026, integrated urban traffic control systems worth over US$ 7.1 Bn will be sold across the globe. Meanwhile, increasing presence of expressways to bolster interstate transportation is anticipated to propel the growth of the intelligent traffic management systems. In 2017, sales of freeway management systems is likely to account for over 10% revenues of the intelligent traffic management systems market. Electronic toll collection systems, on the other hand, will register a greater revenue share of the intelligent traffic management systems market, and will be widely adopted in North America.

Intelligent Traffic Management System Market – Key Insights

• Global intelligent traffic management system market registered an impressive CAGR of 10% during the 2012-2016 period, on the back of continuous transformation in the roadway infrastructure that increased the need for managing traffic through automatic operations.
• Rising demand for technological solutions in such infrastructure is a key factor driving the growth of global intelligent traffic management system market, which is estimated to grow at 11.2% in 2019 through 2018.
• North America continues to be at the forefront of intelligent traffic management systems market, crossing an estimated value of US$ 3.9 billion in 2018.
• With revolutionary innovations in the ICT sector, North America is also likely to remain the most attractive market for intelligent traffic management systems, while the United States accounts for relatively high revenue share in the region.

Intelligent Traffic Management System Market – Competitive Landscape

• In March 2019, Iteris, Inc. was selected by the Metropolitan Transportation Commission (MTC) of San Francisco to improve efficiency and upgrade the intelligent traffic systems across five major cities in the area. In January 2019, the company and Cisco entered into a strategic partnership to promote the latter’s Connected Roadway solution through multiple initiatives between the two firms.
• In February 2019, Wi-LAN Inc., a company of Quaterhill Inc., along with its several subsidiaries such as Cetus Technologies Inc. signed a comprehensive semiconductor license agreement with SK hynix Inc. The new patents cover NAND flash memory, dynamic RAM, and other related semiconductor technologies.
• In January 2019, Kyosan Electric Manufacturing Co., Ltd. along with TSTS , a group company and Kyosan India, achieved the commissioning of its Electronic Interlocking (EI) Systems (model: K5BMC) through 100^th station in Indian Railways.

Other leading players operating in the intelligent traffic management systems market include Q-Free ASA, IBM Corporation, Siemens AG, Dahua Technology Co., Ltd., Beijing E-Hualu Information Technology Co., Ltd., Econolite Control Products, Inc., and Baumer Holding AG.