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Traffic Management System Market

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Traffic management system market report categorizes global market by solution (Hardware, Software and Services), by software, by hardware, by systems and by region. Report includes, global industry insights, trends, outlook and opportunity analysis,
Analysis of Traffic Management System
Market, By Solution, Software,Hardware,
Systems and Region
Increasing urbanization results in the rise of traffic density levels, making traveling
troublesome for common folk. For instance, according to the Global Health Observatory
(GHO), the urban population in 2014 accounted for 54% of the total global population,
and continues to grow. Over half of the population in the world is staying in urban areas,
which increases overcrowding in small areas. More people leads to more usage of
vehicles triggering traffic congestion. Hence, traffic management system is the major
need to control the traffic problems such as traffic congestions and others will positively
impact the growth of traffic management market.
Rising concerns for the safety regarding the road traffic accidents leading to injuries and
deaths is another factor fueling growth of the market. These are the major factors that
are expected to influence the growth of this market during the forecast period. For
instance, according to World Health Organization (WHO), an estimated 1.25 million
road accidents occurred globally in 2013, among them around 93% road traffic death
occurs in low and middle income economies and over 50 million people are injured by
road accidents. Therefore, people are increasingly concerned and cautious regarding
the safety aspect, which tends to increase in the growth of traffic management system
market.
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However, High initial installation cost for traffic management systems which includes
CCTV cameras among others are hampering the growth of the market.
Traffic management is a system that providing traffic management solutions that
improve traffic flow and safety of road users. It also advices the command control and
signaling system which receives the information about the current traffic and the
disturbances in the surrounding. Traffic management system includes pedestrian
access, lane and sidewalk closures, traffic plans, services and others.
Global Traffic Management System Market: Regional Insights
North America accounted for the largest share in the global traffic management market
in 2016. U.S. is the major growth engine in North America market. This is owing to
increasing initiatives from the U.S. government towards improvement of traffic
management facilities and implementation of intelligent transportation systems (ITS).
For instance, the America's Surface Transportation Act or "FAST Act" was passed in
2015, in order to solve congestion issues regarding the traffic management, and
enhance the transportation within the country.
Asia Pacific market is expected to exhibit highest CAGR over the forecast period and
this is due to increasing urbanization and growing initiatives for better traffic
management in the developing countries such as India and China. For instance, in 2015
Government of India launched "100 Smart Cities Mission" with project investments of
US$ 30.02 billion which includes the technologies such as CCTV cameras, ITS
(Intelligent transportation System) and others, which is expected to positively influence
the growth of regional traffic management system market.
Global Traffic Management System Market: Competitive Background
The key players in the global traffic management market include Accenture PLC, Atkins
Group, Affiliated Computer Services, Inc., Alstom SA, Cisco Systems, Inc., Cubic
Corporation, ESRI, GE Transportation, IBM, Indra, Ineo, Kapsch, LG CNS, and
Schneider Electric.
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Author
aniket
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