1.   Market Excerpt

2.   Rising public and government concerns to reduce congestion and improve road safety.

The global traffic management systems and services market is expected to cross US$ 116.0 Bn by 2026 at a CAGR of 20.5% throughout the forecast period from 2018 to 2026. The most significant factor driving the traffic management systems and services market is the rising traffic congestion worldwide. Increasing population coupled with the rising discretionary income of people worldwide has led to high growth in the overall automobile industry. Despite economic and industry slowdown, the automotive industry has shown positive signs of recovery post-recession period. In terms of unit shipments, the automobile industry has registered consistent growth globally post economic recession. In Asia Pacific countries such as India, China, the number of vehicles sold per year has increased threefold since 2005. Rise in the number of vehicles has increased traffic congestion leading to serious environmental as well as economic issues. Number vehicles sold annually have increased consistently post 2009 and will continue witnessing steady growth in the coming years. Consistent rise in number of automobiles on road is anticipated to increase traffic congestion, which, in turn will drive need for traffic management solutions in both developed as well as developing countries to support their economic developments and reduce financial burden.

Rising need for superior road safety measures is one of the most significant factors propelling demand for traffic management systems and services worldwide. According to the recent estimates provided by the Association for Safe International Road Travel (ASIRT), over 1.3 Mn people die every year (with an average of 3,287 deaths per day) in road accidents. Road traffic contributes to more than 2.2% of the total deaths occurring globally. Improper measures towards traffic management have increased the percentage of accidental deaths in the overall number of deaths.

This market is facing challenges from limited government funds and lack infrastructure and standardization.

Developing market are expected to outpace market growth of traffic management solutions throughout the forecast period

North America and Europe are established market for traffic management systems and services. In 2011, total number of vehicles registered in the U.S. has increased to 253.2 million after continuous fall down in 2009 and 2010. The number of vehicle registered in U.S. reached to 264.0 million in 2016. Transportation communities across the U.S. are facing challenges from increasing number of vehicles and road traffic and continuously focusing to reduce urban traffic management and road safety programs.

In Europe, UK, Germany, France and Russia also increasingly investing in traffic management solutions to reduce road fatalities and road traffic during peak hours. Majority of development is expected in London as Transport for London (TfL) is focusing on to make capital road safer and reduce road fatalities and injuries by a 40% by 2020. Russia is also one of the emerging markets for traffic management solutions in the Europe with rising traffic level in the country. Several transportation authorities in Russia are deploying traffic management solutions to reduce number of traffic causalities.

Asia Pacific expected to be the fastest growth market for traffic management systems. Rising number of urban traffic management and smart city projects expected to increase the demand for advance traffic management systems and services particularly in India, China and other emerging markets. The global number of smart cities expected to increase by fourfold by 2026. There are 1,000 pilot smart cities projects are ready for or under construction worldwide. China aims to have 100 smart cities in order to support urban planning and developments. Similarly, Indian government introduced “100 Smart Cities Mission” program in 2015. Increasing number of smart cities expected to spur the demand for traffic management systems across the world.

Dynamic traffic management solution will drive the market growth  

Dynamic traffic management solutions segment is expected to be most potential segment in the overall traffic management solutions market by system type. Other types of systems covered in the scope of the study include urban traffic management and control, journey time measurement system, adaptive traffic control system, predictive traffic modeling system and incident detection and location system. The demand for dynamic traffic management solutions in primarily driven by the rising deployment of traffic data simulation solutions used to analyze data collected through traffic enforcement and surveillance cameras and sensors. The demand for dynamic traffic control solutions is also expected to increase with increasing deployment of smart and intelligent transportation management solutions.  Urban traffic management is largest segment in the overall market and is expected to witness considerable growth throughout the forecast period with increasing number of smart cities projects throughout the forecast period from 2018 to 2026.

Manufacturers are focusing on new product development and to comply deployment standards

The traffic management systems and services is highly fragmented and comprises large number of renowned international players. The vendors are focusing on new product development and are continuously upgrading their existing product portfolio to comply standards and ensure interoperability. Siemens recently announced its plans to shift its focus from hardware-based concept to software-driven intelligent transportation systems. In addition, Siemens has recently developed solutions for the targeted management of vehicle fleets and for a useful mobility assistant for making intermodal travel easier and convenient. Some of the major players identified in the this market market include Siemens AG, Swarco AG, Kapsch Trafficcom AG, IBM Corporation, Redflex Holdings, Q-Free ASA, Iteris, Inc., Metro Infrasys Private Limited, LG CNS Co. Ltd., Cubic Corporation, Indra Sistemas, S.A., Cisco Systems, Inc., Cellint and others. These market players offer range of hardware, software and other integrated solutions and services.

Why it is recommended to invest in our Traffic Management Systems and Services market research study?

This research study on traffic management systems and services market includes comprehensive analysis of market trends and dynamics in the global industry. The report also include exhaustive analysis of different traffic management systems and its components. It also highlights key market driving and challenging factors in the global traffic management systems and services market. The study also includes qualitative as well quantitative analysis of segments covered in the scope of the study. This research study also highlights key investment areas in the global traffic management systems and services markets. This research study also includes high level analysis of traffic management systems and services industry which include value chain analysis, key player positioning and investment preposition. Report also include profiles of leading traffic management solution providers.  The traffic management systems and services market is segmented into following categories:

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Traffic Management Systems And Services market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Traffic Management Systems And Services market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Traffic Management Systems And Services market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Traffic Management Systems And Services market?
• Which is the largest regional market for Traffic Management Systems And Services market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Traffic Management Systems And Services market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Traffic Management Systems And Services market worldwide?