Global Traffic Management Market : Industry Analysis and Forecast
Posted by shankar on March 27th, 2020
Global Traffic Management Market is expected to reach US$ 90.3 Bn by 2026 from US$ XX Bn in 2018 at a CAGR of XX%.
Global Traffic Management Market by Solution
Global traffic management market is segmented into system, solution, software, hardware, service, and region. In terms of system, the traffic management market is classified into urban traffic management and control (UTMC) system, adaptive traffic control system (ATCS), journey time measurement system (JTMS), predictive traffic modeling system (PTMS), incident detection and location system (IDLS), and dynamic traffic management system (DTMS). Based on solution, the traffic management market is categorized into hardware, software, and services. On the basis of solution, the traffic management market is segmented into route guidance, smart surveillance, smart signaling, and traffic analytics. In terms of hardware, the traffic management market is segregated into display boards, surveillance cameras, sensors, and others. Based on service, the traffic management market is segmented into deployment & integration, consulting, and support & maintenance. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
The key driving factor for this market include the high demographic growth and hyper urbanization in developing countries, and government initiatives for traffic management under smart cities models are some of the driving factors for this market. Also, growing public concern for safety are the factors boosting the global traffic management market. Increased use of advanced technologies such as cloud-based services is driving the global market. Moreover, huge interest in the population all over the world to own more than one vehicle is rising the traffics and indirectly elevating the global traffic management market. On the other hand, growing infrastructures that include the building of huge and smooth national highways are hampering the global market. Furthermore, the growing awareness of the people about traffic rules is one of the factors that are hampering the global traffic management market.
The deployment and integration services segment is anticipated to have the largest market share and estimated to grow at the highest CAGR during the forecast period. Deployment and integration services help in reducing the deployment and integration time. These services are crucial for developing end-to-end traffic smart signaling, route guidance, traffic analytics, and smart surveillance solutions for the traffic management market. The rising requirement for upgrading traditional traffic management systems to support various smart cities and traffic management drives the deployment and integration services segment in the traffic management market.
In terms of region, Europe is expected to be the leading region in the traffic management system market. The high adoption of advanced technologies, such as route guidance software and smart signaling, is also anticipated to foster the growth of the market. Asia Pacific is projected to be the fastest growing region during the forecast period owing to the rapid urbanization and growing investments for the development of a smart infrastructure in developing countries such as India and China.
Some of the key players in the traffic management market are Accenture, Affiliated Computer Services, Inc., Alstom SA, Cisco Systems, Inc., Cubic, ESRI, GE Transportation, IBM, Indra, Ineo, Kapsch, LG CNS, Schneider Electric, Siemens, and Thales.
The objective of the report is to present comprehensive Global Traffic Management Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Global Traffic Management Market North America for Asia Pacific dynamics, structure by analyzing the market segments, and project the Global Traffic Management Market North America for Asia Pacific size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Traffic Management Market North America for Asia Pacific make the report investor’s guide.
Global Traffic Management Market by System
• Urban Traffic Management and Control (UTMC) system
• Traffic Analytics
• Deployment & Integration
• North America
• Swarco AG
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About the Authorshankar
Joined: July 22nd, 2019
Articles Posted: 156
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