Future Market Insights (FMI) has published a new report on the global traffic management systems market. The report has been titled “Traffic Management Systems Market: Global Industry Analysis (2013-2017) and Opportunity Assessment (2018-2028).” The global traffic management systems market is likely to foresee an extensive growth over the course of the forecast period. This growth can be attributed to the burgeoning congestion levels that offer tremendous potential for traffic management systems. The traffic management systems market is also increasing due to increasing government focus on boosting safety as well as expanding the smart city initiatives along with rapid advancements in technology.
The global traffic management systems market revenue totaled ~US$ 19,310.0 Mn in 2021. The traffic management systems market is projected to reach ~US$ 75,228.8 Mn by 2028, growing at a CAGR of 22.5% for 2022 – 28.
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Traffic management systems market is nearly 25% of the smart transportation market globally. The traffic management systems market growth will continue to accelerate due to the continuous developments in urban traffic management systems, adaptive traffic control systems and incident detection & location systems across the public transportation infrastructure.
The adoption of traffic management systems is driven by factors such as rising number of vehicles, increasing need for tracking and managing traffic and increasing need for presenting real-time traffic information.
Many key players are inclined at investing heavily in innovation, research, and development practices to uncover increased applications of traffic management systems globally. With the use of digital transformation technology, traffic management solution vendors are also focusing on increasing customer base and market shares in the competitive landscape of traffic management systems market.
- For an instance, In May 2017, Econolite launched EOS traffic control software. The new software is launched with an aim to satisfy the future demands of traffic management including the management of traffic volumes composed of connected and autonomous vehicles (CAV). As a result, the software enhances the capabilities of existing products thereby helping the company to strengthen its position in the market.
- For an instance, In February 2018, Thales Group entered into a strategic partnership with Australian government. The partnership was aimed at developing large air traffic control system that will cover nearly 11% of world’s airspace. The system was launched with an aim to strengthen Australian air superiority and economy and is also expected to prove beneficial to passengers and airliners.
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- IBM Corporation
- Siemens AG
- Thales Group
- Mitsubishi Electric Corporation
- Kapsch Trafficcom
The global traffic management system market has been segmented into the following:
- Urban Traffic Management Systems
- Adaptive Traffic Control Systems
- Journey Time Management Systems
- Incident Detection & Location Systems
- North America
- Latin America
- Western Europe
- Eastern Europe
- SEA and Other Asia
- Middle East and
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Table Of Content
- Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
- Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
- Market Background
3.1. Macro-Economic Factors
3.2. Forecast Factors – Relevance & Impact
3.3. Value Chain
3.4. Market Dynamics
3.5. Opportunity Analysis
- Market Forecast
4.1. Market Size and Y-o-Y Growth
4.2. Absolute $ Opportunity
- Global Traffic Management System Analysis By Component
- Global Traffic Management System Analysis By Application
Key Questions Answered in the Report
- Which region is expected to showcase high growth in Traffic Management Systems Market?
- Who are some of the leading companies offering Traffic Management Systems?
- How much is the global Traffic Management System market worth?
- What will be the demand outlook/ sales forecast for Traffic Management System?
- What was the last 9 year market CAGR?
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