Global Traffic Management Systems Market Size, By Components (Hardware, Software and Services), By Solution (Smart Signaling, Route Guiding, Traffic Analytics), By Application (Urban Traffic Management Systems, Adaptive Traffic Control Systems, Journ
According to The Global Traffic Management Systems Market is expected to grow with a significant rate during the forecast period 2019-2025, owing to various Government initiatives to improving traffic infrastructure and growing public concern for traffic safety. The demand for traffic management systems is not only used for managing the traffic congestion and reducing the fuel wastage, also to assist passengers in planning their journey in advance, to avail on-demand services during journey, and help them to find the shortest route in the traffic boost the Traffic Management Systems market in the upcoming year.
Moreover, the major factor driving the market growth is the rapid pace of urbanization which led to the rising of traffic density levels and to control of these traffic problems. Furthermore, across the global various governments’ initiatives for effective management to reduce pollution coupled with their limited road networks connectivity & make smooth running traffic will accelerate the growth of Traffic Management Systems market. Additionally, across the global vast rise in vehicle ownership coupled with the rising awareness regarding the social and economic losses especially economic loses owing to traffic jams will contribute to Traffic Management Systems market growth during the forecast period.
Furthermore, rising need for superior road safety measures couple with Improper measures towards traffic management is major drivers for the growth of global Traffic Management Systems market in the forecast period.
Software components type of Traffic Management Systems market is projected to be the leading segment of the overall market during the forecast period
On the basis of Component type, the Traffic Management Systems market has been segmented into Hardware, Software, and Services. Software dominates the global Traffic Management Systems owing to the demand for smart signaling, route guidance, smart surveillance, and traffic based traffic systems for improving public transportation and reducing cities polluted free. Hardware segment will boost by the demand for physical components & devices for public and private purposes.
Route Guiding is expected to the leading segment for providing Traffic Management Systems solutions during the forecast period
On the basis of solution type, the Traffic Management Systems market has been segmented into Smart Signaling, Route Guiding, and Traffic Analytics. Route Guiding is projected to leading segment owing to provide the best possible route that has less traffic congestion and disruptions and rendering automatic feedback controls from a real-time traffic situation. Smart Signaling will influence by its uses in reducing traffic congestion problems and provide efficient use of road space for smooth traffic activities.
Dynamic Traffic Management (DTM) System is projected to lead the industry for utilizing applications of the Traffic Management Systems during the forecast period
On the basis of application, the Global Traffic Management Systems market has been segmented into Urban Traffic Management Systems, Adaptive Traffic Control Systems, Journey Time Management Systems, Dynamic Traffic Management (DTM) System and Incident Detection & Location Systems. Dynamic Traffic Management System dominates the global Traffic Management Systems due to its application to reducing the deployment and integration time and providing end-to-end traffic smart signaling, route guidance, traffic analytics, and smart surveillance solutions for the traffic management market. Adaptive Traffic Control Systems will grow by its usage in providing better image processing techniques than conventional inductive loop detectors& Infrared sensors.
North America accounts for the lion’s share of the global Traffic Management Systems market during the anticipated period.
On the basis of region, the Traffic Management Systems market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominates the world Traffic Management Systems market over the forecast period owing to the early adoption Internet of things based traffic based systems by Governments couple with increment in vehicles owners. The Asia Pacific is projected to be the fastest growing market throughout the forecast period due to rising number of urban traffic management and smart city projects.
Global Traffic Management Systems Market Competitive Landscape
Companies , such as , EFKON AG, Siemens AG, Nuance Communications, Hitachi Ltd , Iteris, Inc., WS Atkins PLC, Thales Group, Telenav, Inc , Garmin International Inc., IBM, Cellint, Iteris, Kapsh, Swarco, Accenture, Siemens, Thales, Cubic, Systematics, Decell, Accenture PLC, Atkins Group, Affiliated Computer Services, Inc., Alstom SA, Cisco Systems, Inc., Cubic Corporation, ESRI, GE Transportation, IBM, Indra, Ineo, Kapsch, LG CNS, Schneider Electric and TomTom NV are the key players in manufacturing & services providers of Traffic Management Systems.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global Traffic Management Systems Market size & forecast. The report promises to provide state-of-the-art technology of Traffic Management Systems production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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