Industry Background:
The global Traffic Management Systems market is expected to witness high demand in the forecasted period due to a growing population across the world. Traffic management systems refer to the IT solutions provided by vendors to enhanced the traffic flow as well as improve passenger safety. The traffic management systems consume data from disparate sources such as road sensors, CCTV cameras, and traffic control centers. The systems process these data and generate useful information, which is passed on to end-users such as passengers, traffic control agencies, and police stations. Traditionally, traffic management systems helped to save time and reduce the wastage of fuel by reducing traffic congestion. Owing to increasing demand of traffic management due to increasing number of vehicles on the road hence need management, traffic management market is expected to grow at a significant rate during the forecast period.This growth is primarily driven by Increasing Demand of Traffic Management Due to Increasing Number of Vehicles on the Road Hence Need Management
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Internet Software & Services sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Inrix, Inc (United States), Cubic Corporation (United States), PTV Group (Germany), Thales Group (France), Siemens AG (Germany), Kapsch Trafficcom (Austria), TomTom International (Netherland), Accenture PLC (Ireland), IBM Corporation (United States), TransCore (UAE) and Huawei (China), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In January 2020, INRIX, Inc. launched new global suite of innovative road performance analytics and visualisations. INRIX, Inc. provide connected car services and transportation analytical services. Company work with The Center for Advanced Transportation Technology offers access to highly precise and tools which helped transportation agencies assess and make decision depending on regional city road networks. With this launch company expand its presence in traffic management market..Traffic Management market is a fragmented market due to the presence of various players. The players are focusing on increasing their manufacturing capacity and are offering competitive prices to gain high market share and establish their position in the market. Further, companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Influencing Trend:
Increasing High Quality Colour Imaging Monitors for Traffic Management, Incorporation of Digitized IT’s Infrastructure in Traffic Management and Rising Need for Real-Time Traffic Information Systems
Market Growth Drivers:
Increasing Demand of Traffic Management Due to Increasing Number of Vehicles on the Road Hence Need Management, Growing Demand of Traffic Management to Make to Make Roads Safe for All User Including Pedestrians and Cyclists and Growing Government Initiatives for Traffic Management across Cities
Challenges:
Increasing Security Threats and Hackers in Traffic Management Software's
Restraints:
Lack of Standardized and Uniform Technologies and Lack of Awareness about Traffic Management Services
Opportunities:
The Emergence of IoT and Sensor Technologies in Traffic Management, Penetration of Analytics in Traffic Management Network Systems and Increasing Technical Advancement Such As AI and Machine Learning Traffic Management
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Traffic Management Systems Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Traffic Management Systems Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Traffic Management Systems players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Traffic Management Systems Study Sheds Light on
The Traffic Management Systems Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Traffic Management Systems industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Traffic Management Systems industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.