The traffic management market would garner market value of $72.7 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 21.6%
Rapid demographic expansion and wide spread urban expansion in most of the developing countries and favorable initiatives by the governments around the world to manage traffic are the factors that are favoring the market growth.
Limited standardized and uniform technology can be perceived as a major stumbling block to the market expansion. Additionally, high-security risks, restructuring legacy infrastructure to smart traffic solutions, and challenges pertaining to data fusion due to multiple sensors and touch points in the traffic management system would act as restraints to the market growth.
The traffic management software segment would be the most potential market, and would hold the largest market share. The rapid growth in the urban population has led to traffic congestions, demanding better traffic management systems.
The traffic management software allows live streamlining of traffic information which can be later used for predictive analytics and define traffic management rules.
Scope of the Report
- The traffic management market is segmented based on Solutions (software hardware and Services), Systems and Regions.
- Based on software, the market is segmented into smart signaling, route guidance, traffic analytics, and smart surveillance.
- Based on hardware, the market is segmented into display boards, sensors, surveillance cameras, and others (intelligent traffic controller, networking components, and linked traffic controller).
- Based on services, the market is segmented into consulting, deployment and integration, and support and maintenance.
- Based on the systems, the market is segmented 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).
Key Topics Covered:
1. Market Scope & Methodology
2. Executive Summary
3. Market Overview
4. Global Traffic Management Market
5. Global Traffic Management Market by System
6. Global Traffic Management Market by Region
7. Company Profiles
- International Business Machines Corporation (IBM)
- Cisco System, Inc.
- Swarco AG
- LG Corporation (LG CNS Co. Ltd.)
- Siemens AG
- Kapsch (Kapsch Trafficcom AG)
- Q-Free ASA
- Accenture PLC
For more information about this report visit https://www.researchandmarkets.com/research/p2czm6/global_traffic
Research and Markets
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SOURCE Research and Markets