DUBLIN--(BUSINESS WIRE)--The "Global Integrated Traffic Systems Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
Toll road expansion plans are expected to drive the growth of the global integrated traffic systems market size at a CAGR of over 8% during the forecast period.
Integrated smart traffic systems are used for optimizing traffic flow on roadways. The integrated traffic systems market analysis considers the adoption of solutions such as traffic monitoring system, traffic control system, and others. In 2018, the traffic monitoring system segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rapid urbanization will play a significant role in the traffic monitoring system segment to maintain its market position.
Also, our global integrated traffic systems market looks at factors such as demand for effective traffic management due to the growing number of vehicles, increasing toll road expansion plans, and government initiatives for the development of intelligent transport system. However, higher setup cost and operating cost, risk of errors and security breach, and low product replacement cycle may hamper the growth of the integrated traffic systems industry over the forecast period.
Global Integrated Traffic Systems Market: Overview
Increasing toll road expansion plans
Toll roads across the world are increasingly adopting devices such as LED displays, vehicle detection sensors, speed sensors, and display board sensors to effectively monitor the passage of vehicles. Several governments across the world have announced highway expansion plans as part of their strategic development projects. For instance, the National Highway Authority of India recently awarded the toll managing rights for one of its highways to a major company for thirty years.
Increasing global road traffic congestion
The rise in disposable income of people across the world has increased the sales of vehicles. The increasing number of vehicles has resulted in traffic congestion in urban areas. Several regional governments are implementing various effective techniques such as smart signaling, congestion detection, and electronic toll collection to mitigate traffic congestion. The increase in road traffic congestion across the world will have a positive impact on the growth of the market's growth.
With the presence of a few players, the global integrated traffic systems market is fairly fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several integrated traffic system manufacturers, that include Cubic Corp., FLIR Systems Inc., Kapsch TrafficCom AG, Sumitomo Electric Industries Ltd., and SWARCO AG.
Also, the integrated traffic systems market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY SOLUTION
- Market segmentation by solution
- Comparison by solution
- Traffic monitoring system - Market size and forecast 2018-2023
- Traffic control system - Market size and forecast 2018-2023
- Others - Market size and forecast 2018-2023
- Market opportunity by solution
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Increasing global road traffic congestion
- Emergence of smart cities
- Extensive use of HDR cameras and Ethernet-based ADAS
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Cubic Corp.
- FLIR Systems Inc.
- Kapsch TrafficCom AG
- Sumitomo Electric Industries Ltd.
- SWARCO AG
PART 14: APPENDIX
For more information about this report visit https://www.researchandmarkets.com/r/thx3wu