About Advanced Traffic Management for Smart Cities
Building smart cities is one of the primary priorities of developed countries. One component of a smart city is the development of an effective and intelligent traffic management system, especially for road traffic, to prevent congestion, collisions, and other types of inordinate delays. Smart cities, participatory sensing, and positioning data available in networking applications and social networks provide a massive amount of heterogeneous connectivity data that can be used to handle traffic. Sensors that are connected to the internet and enable devices to communicate, read, and perform specific operations have advanced as technology advances. This linking of objects to the internet is referred to as the Internet of Things (IoT), which uses the information given and executes tasks autonomously as planned. Multiple factors including rising number of smart city projects globally has facilitated growth in demand for Advanced Traffic Management platforms.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Advanced Traffic Management for Smart Cities market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Alphabet Inc. (United States), Microsoft Corporation (United States), IBM Corporation (United States), Econolite (United States), INRIX. (United States), Cisco Systems, Inc. (United States), Cubic Corporation (United States), Q-Free ASA (Norway), Rapid Flow Technologies (United States) and Siemens AG (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Telefonaktiebolaget LM Ericsson (Sweden), Verizon Communications (United States), Kapsch TrafficCom AG (Austria)] and Didi Chuxing Technology Co. (China).
Segmentation Overview
AMA Research has segmented the market of Global Advanced Traffic Management for Smart Cities market by Type (Hardware, Software and Services (Managed, Professional)), Application (Intelligent Transportation Systems (ITS) Solutions, Vehicle to-infrastructure (V2I) Communications and Traffic Controlling Systems) and Region.
On the basis of geography, the market of Advanced Traffic Management for Smart Cities has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use, the sub-segment i.e. Traffic Management Agencies will boost the Advanced Traffic Management for Smart Cities market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Model, the sub-segment i.e. On-Premise will boost the Advanced Traffic Management for Smart Cities market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Integration with Advanced Technologies Such as Artificial Intelligence (AI)
Market Growth Drivers:
Increasing Number of Smart City Projects, Rising Vehicle Sales and Stringent Traffic Management Norms
Challenges:
Fierce Competitive Pressure and Shift from Traditional Approach to Software
Restraints:
Implementation Barriers
Opportunities:
Increasing Demand Across Emerging Regions
Market Leaders and their expansionary development strategies
In October 2023, Siemens Mobility and Cisco announced a collaboration to develop and implement integrated traffic management solutions for smart cities.
In October 2023, Siemens Mobility launched its MindSphere IoT platform integration with HERE Technologies' real-time traffic data to optimize traffic flow in Singapore.
Key Target Audience
Advanced Traffic Management Solution Providers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.