Traffic Management Market – Overview:
Traffic management refers to one of the significant branch within logistics. It comprises of services such as controlling and purchasing of transport services, planning and reducing traffic density.
The factors driving traffic management market includes growth in airline traffic control volume. The market is currently in its growth stage due to inventions and development of new traffic management system which is replacing the outdated technology is contributing to the market growth. The traffic management software segment is contributing largest market share. Due to development of advance software in traffic management market that helps in minimizing the air traffic volume, transport needs and increased traffic this problem occurs mainly due to increased population in city, growing traffic and urbanization. The rise of these problems is mainly due to growing population in city and urbanization. The deployment and integration service sector is expected to account for highest CAGR. With development in internet and communication industry, the traffic management system is able to reduce congestion, harmful emission and accidents.
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Major Key Players:
Accenture PLC (Ireland),
Atkins Group (U.K.),
Cisco Systems, Inc. (U.S.),
Cubic Corporation (U.S.),
EFKON AG (Austria),
Esri (California, U.S.),
FLIR Systems, Inc. (U.S.),
IBM Corporation (U.S.) among others.
The Traffic Management Market is expected to grow at approximately USD 65 Billion by 2023, at 20% of CAGR between 2017 and 2023.
The regional analysis of traffic management market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. Europe region accounts for largest share in traffic management market owing to adopting of smart traffic management software. There is an increased adoption of software such as smart signaling and route guidance for better management of traffic. Asia-Pacific region is also expected as a fastest growing market due to increased traffic congestion and regulatory measures to minimize traffic congestion along with better traffic control measurement.
Traffic management market for segment on the basis of by component and by systems.
Traffic Management Market by Component:
- Display board
- Surveillance Cameras
- Smart Signaling
- Route Guidance
- Traffic Analytics
- Smart Surveillance
- Deployment & Integration
- Support and maintenance
Traffic Management Market by Systems:
- 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)
- Dynamic Traffic Management System (DTMS)
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