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Global Traffic Management Market (2019 to 2024) - Key Players Include Cisco, SWARCO & Siemens Among Others
DUBLIN, Feb. 25, 2020 /PRNewswire/ -- The "Traffic Management Market by Solution (Smart Signaling, Route Guidance and Route Optimization, Traffic Analytics, and Smart Surveillance), Hardware (Display Boards, Sensors, and Surveillance Cameras), Service, System and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The market size is expected to grow from USD 30.6 billion in 2019 to USD 57.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 13.6% during the forecast period, mainly due to the growing urbanization and increasing traffic congestion arising out of it.
Factors, such as the rising urban population and high demographic rates, growing government initiatives for traffic management, and Public-Private Partnership (PPP) working models are expected to drive the growth of the market. According to the United Nations (UN) World Urbanization Prospects, 2018, 55% of the world's population already resides in urban areas, and this rate is expected to reach 68% by 2050. The population growth is expected to eventually increase the urban traffic congestion rate and generate the need for smart transportation and traffic management solutions.
Emerging economies, such as China, Malaysia, Hong Kong, and India are investing a significant amount in the development of transportation infrastructure, as the transportation segment is one of the largest revenue generators across growing nations. Developed nations, such as the US, the UK, and Germany are adopting multiple initiatives to encourage the use of public transportation services. Thus, the upgradation of existing transportation infrastructure and the advancement of Information and Communications Technology (ICT) systems to meet the rising population needs are expected to drive investments in the traffic management market in the coming years.
Hardware segment to lead the traffic management market in 2019
The hardware segment includes display boards, sensors, and surveillance cameras. Hardware is an important aspect of traffic management. It is majorly used in data collection processes. The data collected through hardware devices form the base of the Intelligent Traffic System (ITS) functions. These devices include automatic vehicle identifiers, Global Positioning System (GPS)-based automatic vehicle locators, sensors, and cameras. The hardware mainly records data, such as traffic count, surveillance, travel speed and travel time, location, vehicle weight, and delays. The hardware devices are connected to the servers that are generally located at data collection centers, which store large amounts of data for further analysis.
Dynamic traffic management system segment to grow at the highest CAGR during the forecast period
The Dynamic Traffic Management System (DTMS) segment uses simulation models combined with real-time traffic and origin-destination information to predict the effects of various traffic management strategies. This enables users for more effective management and provision of traffic, enabling information to be shared in a better manner. Route choice, journey travel time, and departure time data are collected from several sources of real-time information, such as vehicle detection sensors, pedestrian presence sensors, speed sensors, and surveillance cameras. The travel information is then used along with simulation models to predict network flow patterns and travel times. This information is predicted with various combinations of management strategies, such as incident management, ramp metering, signal control, and traveler information. Based on these predictions, optimal strategies are selected, and travel time predictions and route recommendations are made available to travelers.
Asia Pacific to grow at the highest CAGR during the forecast period
APAC is expected to experience extensive growth opportunities during the forecast period. APAC is home to nearly 40% of the world's population. The region is highly diverse in terms of implementing traffic managementtechnologies. On one side, countries such as China, India, and South Korea, are rapidly growing and simultaneously dealing with congestion issues and population explosion, while on the other side, there are small and high-tech islands of Singapore and Japan. The citizens of Thailand are extremely dependent on cars for urban transportation, resulting in heavy traffic congestions.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the traffic management market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Traffic Management Market
4.2 Traffic Management Market, By Component, 2019-2024
4.3 Market By Solution, 2019-2024
4.4 Market By Hardware, 2019-2024
4.5 Market By Service, 2019-2024
4.6 Market By System, 2019-2024
4.7 Traffic Management Market Share Across Countries, 2019
4.8 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Urban Population and High Demographic Rates
5.2.1.2 Growing Government Initiatives for Traffic Management Across Cities
5.2.1.3 Rising Need for Real-Time Traffic Information Systems
5.2.1.4 Regulatory Frameworks and Government Policies to Reduce Global Carbon Emissions
5.2.2 Restraints
5.2.2.1 Lack of Standardized and Uniform Technologies
5.2.2.2 Recovering Roi From Legacy Systems
5.2.3 Opportunities
5.2.3.1 Emergence of IoT and Sensor Technologies in Traffic Management
5.2.3.2 Penetration of Analytics in Traffic Management Network Systems
5.2.4 Challenges
5.2.4.1 Multiple Sensors and Touchpoints Pose Data Fusion Challenges
5.2.4.2 Security Threats and Hackers Challenge the Growth of the Market
5.2.4.3 Low Penetration of Dsrc Protocol
5.3 Traffic Management Projects
5.3.1 Smart City Bhubaneswar, India
5.3.2 Cavite-Laguna Expressway (Calax), Philippines
5.3.3 Sheikh Jaber Al-Ahmed Al-Sabah Causeway, Kuwait
5.3.4 Vilnius Traffic Management System, Lithuania
5.3.5 Thompsons Roadways Project, Melbourne, Australia
5.3.6 Elizabeth River Tunnels Project, United States
5.3.7 Inuvik to TuKToyaKTuk Highway Projects, Canada
5.3.8 Cost Road Junction Upgrade, United Kingdom
5.3.9 Smart City Kochi, India
5.4 Traffic Management: Ecosystem
5.5 Use Cases
5.6 Global Traffic Index
6 Traffic Management Market, By Component
6.1 Introduction
6.2 Solutions
6.3 Hardware
6.4 Services
7 Traffic Management Market, By Solution
7.1 Introduction
7.2 Smart Signaling
7.2.1 Smart Signaling: Market Drivers
7.3 Route Guidance and Route Optimization
7.3.1 Route Guidance and Route Optimization: Market Drivers
7.4 Traffic Analytics
7.4.1 Traffic Analytics: Market Drivers
7.5 Smart Surveillance
7.5.1 Smart Surveillance: Market Drivers
7.5.2 Video Management Software
7.5.3 Video Management Software: Market Drivers
7.5.4 Video Analytics
7.5.4.1 Video Analytics, By Application
7.5.4.1.1 Automatic Number Plate Recognition
7.5.4.1.2 Facial Recognition
7.5.4.1.3 Pedestrian Detection
7.5.4.1.4 Incident Detection
8 Traffic Management Market, By Hardware
8.1 Introduction
8.2 Display Boards
8.2.1 Display Boards: Market Drivers
8.2.2 Multifunctional Boards
8.2.3 Vehicle Detection Boards
8.2.4 Communication Boards
8.3 Sensors
8.3.1 Sensors: Market Drivers
8.3.2 Vehicle Detection Sensors
8.3.3 Pedestrian Presence Sensors
8.3.4 Speed Sensors
8.4 Surveillance Cameras
8.4.1 Surveillance Cameras: Market Drivers
8.4.2 Internet Protocol Cameras
8.4.3 Analog Cameras
8.5 Others
9 Traffic Management Market, By Service
9.1 Introduction
9.2 Consulting
9.2.1 Consulting: Market Drivers
9.3 Deployment and Integration
9.3.1 Integration and Deployment: Market Drivers
9.4 Support and Maintenance
9.4.1 Support and Maintenance: Market Drivers
10 Traffic Management Market, By System
10.1 Introduction
10.2 Urban Traffic Management and Control
10.2.1 Urban Traffic Management and Control: Market Drivers
10.3 Adaptive Traffic Control System
10.3.1 Adaptive Traffic Control System: Market Drivers
10.4 Journey Time Measurement System
10.4.1 Journey Time Measurement System: Market Drivers
10.5 Predictive Traffic Modeling System
10.5.1 Predictive Traffic Modeling System: Market Drivers
10.6 Incident Detection and Location System
10.6.1 Incident Detection and Location System: Market Drivers
10.7 Dynamic Traffic Management System
10.7.1 Dynamic Traffic Management System: Market Drivers
11 Traffic Management Market, By Region
11.1 Introduction
11.2 North America
11.2.1 North America: Market Drivers
11.2.2 United States
11.2.3 Canada
11.3 Europe
11.3.1 Europe: Traffic Management Market Drivers
11.3.2 United Kingdom
11.3.3 Germany
11.3.4 France
11.3.5 Rest of Europe
11.4 Asia Pacific
11.4.1 Asia Pacific: Market Drivers
11.4.2 Australia and New Zealand
11.4.3 China
11.4.4 Japan
11.4.5 Singapore
11.4.6 Rest of Asia Pacific
11.5 Middle East and Africa
11.5.1 Middle East and Africa: Traffic Management Market Drivers
11.5.2 Israel
11.5.3 Qatar
11.5.4 United Arab Emirates
11.5.5 South Africa
11.5.6 Rest of Middle East and Africa
11.6 Latin America
11.6.1 Latin America: Market Drivers
11.6.2 Brazil
11.6.3 Mexico
11.6.4 Rest of Latin America
12 Competitive Landscape
12.1 Competitive Leadership Mapping
12.1.1 Visionary Leaders
12.1.2 Innovators
12.1.3 Dynamic Differentiators
12.1.4 Emerging Companies
12.2 Strength of Product Portfolio
12.3 Business Strategy Excellence
12.4 Ranking of Key Players for the Traffic Management Market, 2019
13 Company Profiles
13.1 Introduction
13.2 Cisco
13.3 SWARCO
13.4 Siemens
13.5 IBM
13.6 Kapsch TrafficCom
13.7 LG CNS
13.8 Indra Sistemas
13.9 Cubic
13.10 Accenture
13.11 Iteris
13.12 Cellint
13.13 Metro Infrasys
13.14 Gtt
13.15 Jenoptik
13.16 FLIR
13.17 Esri
13.18 PTV
13.19 IntelliVision
13.20 Transcore
13.21 IMTAC
13.22 Garmin
13.23 EFKON
13.24 Lanner Electronics
13.25 Citilog
13.26 Q-Free
13.27 Savari
13.28 Dahua Technology
13.29 Telegra Europe
13.30 Chetu
13.31 Telit
13.32 Huawei
13.33 International Road Dynamics
13.34 Rapid Flow Technologies
13.35 Advance Access
13.36 Advantech
13.37 Redflex
13.38 TRL Software
13.39 INRIX
13.40 Tomtom
13.41 Right-To-Win
For more information about this report visit https://www.researchandmarkets.com/r/8xvq8w
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