BANGALORE, India, March 30, 2020 /PRNewswire/ -- Traffic management systems help boost traffic flow and increase passenger health. Traffic management systems collect data from diverse sources such as road sensors, CCTV cameras, and centers for traffic control. Such data are processed by systems, and useful information is generated, which is passed on to end-users such as travelers, traffic control agencies, and police stations.
The global Traffic Management Systems market size was at USD 1785.9 million in 2019 and is expected to reach USD 3307.7 million by the end of 2026, at a CAGR of 9.1 % over the forecast period 2021 to 2026.
The global traffic management systems industry grew steadily from 2010 to 2014 with a growth rate of approximately 13.5 - 17.5 percent.
This study focuses on the status of global traffic management systems, future projections, prospects for growth, key industry, and key actors. The study goals are to address the growth of traffic management systems in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
TRENDS INFLUENCING THE TRAFFIC MANAGEMENT SYSTEMS MARKET SIZE:
- The growing implementation of the new technology is expected to drive the traffic management systems market. Some of the latest technologies that are significantly impacting the traffic management systems are Artificial Intelligence (AI) and the Internet of Things (IoT). Traffic management industry vendors provide numerous services, including design and consultancy, system installation and implementation, and support and maintenance services.
- Owing to the massive increase in vehicle ownership globally and the growing recognition of the social losses that economies suffer as a result of traffic jams, demand for successful traffic management solutions is expected to grow at a promising rate in the coming years.
- With population growth, the number of on-road vehicles is also increasingly growing, generating demand for traffic management systems. The major factors driving the traffic management systems market are investments and initiatives by various governments and companies around the globe, promoting the growth of traffic control and management infrastructure.
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REGION WISE TRAFFIC MANAGEMENT SYSTEMS MARKET SHARE ANALYSIS:
- In the traffic management market, North America is expected to have the second-highest market size. There are several traffic management projects currently underway in the area, and traffic management systems are now equipped with advances in information and communication technology (ICT) to minimize congestion, provide real-time information, avoid collisions, implement speed and traffic laws, and minimize revenue leakage.
- Due to rapid urbanization and increasing investment in developing countries such as India and China, Asia Pacific is expected to be the fastest-growing region during the forecast period. Furthermore, in China, the traffic management systems industry has experienced exponential growth due to the late launch. It is projected that in the next few years, the traffic management systems industry will continue to grow rapidly.
THE KEY PLAYERS COVERED IN THIS STUDY
- Kapsch TrafficCom
- Kyosan Electric
- Peek traffic
- China ITS (Holdings)
- Datang Telecom
- Wantong Technology
- Hisense TransTech
- China Shipping Network Technology
- Dahua Technology
- Baokang Electronic
MARKET SEGMENT BY TYPE, THE PRODUCT CAN BE SPLIT INTO
- Integrated Urban Traffic Control System
- Freeway Management System
- Electronic Toll Collection (ETC)
- Advanced Public Transportation System
MARKET SEGMENT BY APPLICATION, SPLIT INTO
- Urban Traffic
- Parking Management
- Public Transport
- Consultancy & Planning
SIMILAR REPORTS :
- AIR TRAFFIC MANAGEMENT MARKET RESEARCH REPORT
The global air traffic management market size was valued at USD 12150 million in 2019 and is projected to reach USD 14360 million by 2026, growing at a CAGR of 2.4% from 2021 to 2026.
Air traffic control is an aviation unit that includes all structures from an aerodrome, traverse airspace and land at a destination airport, including Air Traffic Services (ATS), Airspace Management (ASM), and Air Traffic Flow and Capacity Management (ATFCM).
This report focuses on the status of glo bal air traffic management, future projections, opportunities for growth, key markets, and key players. The aims of the report are to address the growth of air traffic management in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
- INTELLIGENT TRAFFIC MANAGEMENT SYSTEM (ITMS) MARKET RESEARCH REPORT
The global Intelligent Traffic Management System (ITMS) market was estimated at USD 7404.5 Million in 2019 and is projected to reach USD 11800 Million by 2026, registering a 6.8 percent CAGR from 2021 to 2026.
This report focuses on the status, future outlook, growth potential, key market, and key players of the global Intelligent Traffic Management System (ITMS). The purpose of this study is to present the development of the Intelligent Traffic Management System (ITMS) in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
- VESSEL TRAFFIC MANAGEMENT MARKET RESEARCH REPORT
The Vessel Traffic Management size is expected to grow from USD 301 million in 2018 to USD 505.9 million by 2025, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecasted period.
Vessel Traffic Management is a maritime traffic management system that is similar to air traffic control for aircraft developed by port or port authorities. Typical VTS systems use radar, CCTV, VHF radiotelephony, and a utomatic identification to track vessel movements and provide navigational protection in a restricted geographic area.
This report studies the size of the Vessel Traffic Management market by participants, countries, product types and end industries, historical data for 2014-2018, and forecast data for 2019-2025. Furthermore, the report also analyses the global competitive environment, market drivers and patterns, opportunities and challenges, risks, and barriers to entry, distribution channels, distributors, and Porter's Five Forces Analysis.
- SHIP TRAFFIC MANAGEMENT MARKET RESEARCH REPORT
It is a marine traffic management system, similar to air traffic control for aircraft, developed by harbor or port authorities. Typical VTS systems use radar, CCTV, VHF radiotelephony, and automatic identification to track vessel movements and provide navigational protection in a restricted geographic area.
The study report studies the market for ship traffic management using different methodologies and analyses for providing reliable and in-depth market information. It is split into several sections to cover various areas of the industry for a better understanding. Afterward, each field is built to help the reader understand each region's growth potential and its contribution to the global market.
- UNMANNED TRAFFIC MANAGEMENT (UTM) MARKET RESEARCH REPORT
This report focuses on the status of global Unmanned Traffic Management (UTM), future outlook, opportunities for development, key market, and key players. The aims of the study are to present the production of Unmanned Traffic Management (UTM) in the United States, Europe, and China.
Unmanned Traffic Management (UTM), or a networked infrastructure array that interacts together on the basis of general laws. Instead of relying on centralized regulation, UTM systems worldwide will follow the distributed authority concept, which opens up the system to more service providers who can adapt as the market grows and needs change.
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