According to a new market research report "Traffic Management Market by Solution (Smart Signaling, Route Guidance and Optimization, Traffic Analytics, and Smart Surveillance), Hardware (Display Boards, Sensors, and Surveillance Cameras), Service, System, and Region - Global Forecast to 2023", The traffic management market size is expected to grow from USD 26.7 billion in 2018 to USD 50.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 13.7% during the forecast period.
The major factors driving the traffic management market include high demographic growth and hyper-urbanization in developing countries and the government initiatives for traffic management under smart cities models. INQUIRY
Key Traffic Management Market Players
The major vendors covered in the traffic management market include Accenture PLC (Accenture), Cellint (Cellint), Cisco Systems, Inc. (Cisco), Ciitilog (Citilog), Cubic Corporation (Cubic), EFKON INDIA PRIVATE LIMITED (EFKON),Esri (Esri),FLIR Systems, Inc. (FLIR),Garmin Ltd. (Garmin), IBM Corporation (IBM), Indra Sistemas, S.A. (Indra), Industrial Management Technology & Contracting LLC (IMTAC), IntelliVision (IntelliVision), Iteris, Inc (Iteris),Jenoptik AG (Jenoptik), Kapsch TrafficCom (Kapsch TrafficCom), Lanner Electronics Inc. (Lanner Electronics), LG CNS (LG CNS), Metro Infrasys Pvt. Ltd. (Metro Infrasys), PTV Planung Transport Verkehr Group (PTV Group), Q-Free A.S.A (Q-Free), Siemens AG (Siemens), SWARCO AG (SWARCO), and TransCore (TransCore).
Browse 92 market data Tables and 59 Figures spread through 200 Pages and in-depth TOC on "Traffic Management Market - Global Forecast to 2023"
Request PDF Brochure @ https://www.marketsandmarkets.com/Market-Reports/traffic-management-market-1036.html
Route guidance and route optimization segment holds the largest market share
The route guidance and optimization software helps in regulating traffic flows to make efficient use of the existing road infrastructures. Furthermore, it reduces the traveling time and distance for drivers. It shows the best possible route that has less traffic congestion and disruptions. It also enables drivers to get real-time information about the traffic congestion, accidents, and other such events on the roads they plan to drive on. The route guidance and optimization software uses automatic feedback controls from a real-time traffic situation. The software offers features, such as static guidance, dynamic guidance, and dynamic guidance with prediction
Surveillance cameras segment is expected to hold the largest market share
The surveillance cameras segment is expected to gain the highest traction in the traffic management market during the forecast period. Surveillance cameras are an innovative and extremely useful video surveillance technology in traffic monitoring and control. Further, the cameras record traffic patterns for future studies, observe and monitor traffic flow, and issue tickets in case someone violates traffic rules. Traffic cameras are an extremely popular form of video surveillance. Surveillance cameras offer several advantages to the commuters. They provide valuable data of traffic and vehicles, which is maintained by the state departments of transportation.
Deployment and integration segment is estimated to hold the largest market share
The deployment and integration segment is expected to have the largest market share and projected to grow at the highest CAGR during the forecast period. Deployment and integration services help in reducing the deployment and integration time of the traffic management solutions. These services are crucial for developing end-to-end traffic smart signalling, route guidance, traffic analytics, and smart surveillance solutions for the traffic management market.
Dynamic Traffic Management System (DTMS) segment is expected to hold the largest market size
The DTMS segment is expected to have the fastest growth rate during the forecast period. There has been an increasing demand for traffic management systems, specifically for the dynamic traffic management that simulates various traffic data gathered by multiple sensors, cameras, and software. In addition, with the growing deployment of traffic management systems among the traffic control and management operators, the demand for DTMS has grown exponentially. This system helps traffic operators to control and manage traffic more dynamically eliminating any security risk and logistical cost associated with traditional traffic management systems.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Visit Our Website: https://www.marketsandmarkets.com