Global Traffic Management Market Size is Expected to Grow from USD 30.6 Billion in 2019 to USD 57.9 Billion by 2024 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Traffic Management Market by Solution (Smart Signaling, Route Guidance and Route Optimization, Traffic Analytics, and Smart Surveillance), Hardware (Display Boards, Sensors, and Surveillance Cameras), Service, System and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

Factors, such as the rising urban population and high demographic rates, growing government initiatives for traffic management, and Public-Private Partnership (PPP) working models are expected to drive the growth of the market. According to the United Nations (UN) World Urbanization Prospects, 2018, 55% of the world's population already resides in urban areas, and this rate is expected to reach 68% by 2050. The population growth is expected to eventually increase the urban traffic congestion rate and generate the need for smart transportation and traffic management solutions.

Emerging economies, such as China, Malaysia, Hong Kong, and India are investing a significant amount in the development of transportation infrastructure, as the transportation segment is one of the largest revenue generators across growing nations. Developed nations, such as the US, the UK, and Germany are adopting multiple initiatives to encourage the use of public transportation services. Thus, the upgradation of existing transportation infrastructure and the advancement of Information and Communications Technology (ICT) systems to meet the rising population needs are expected to drive investments in the traffic management market in the coming years.

Hardware segment to lead the traffic management market in 2019

The hardware segment includes display boards, sensors, and surveillance cameras. Hardware is an important aspect of traffic management. It is majorly used in data collection processes. The data collected through hardware devices form the base of the Intelligent Traffic System (ITS) functions. These devices include automatic vehicle identifiers, Global Positioning System (GPS)-based automatic vehicle locators, sensors, and cameras. The hardware mainly records data, such as traffic count, surveillance, travel speed and travel time, location, vehicle weight, and delays. The hardware devices are connected to the servers that are generally located at data collection centers, which store large amounts of data for further analysis.

Dynamic traffic management system segment to grow at the highest CAGR during the forecast period

The Dynamic Traffic Management System (DTMS) segment uses simulation models combined with real-time traffic and origin-destination information to predict the effects of various traffic management strategies. This enables users for more effective management and provision of traffic, enabling information to be shared in a better manner. Route choice, journey travel time, and departure time data are collected from several sources of real-time information, such as vehicle detection sensors, pedestrian presence sensors, speed sensors, and surveillance cameras. The travel information is then used along with simulation models to predict network flow patterns and travel times. This information is predicted with various combinations of management strategies, such as incident management, ramp metering, signal control, and traveler information. Based on these predictions, optimal strategies are selected, and travel time predictions and route recommendations are made available to travelers.

Asia Pacific to grow at the highest CAGR during the forecast period

APAC is expected to experience extensive growth opportunities during the forecast period. APAC is home to nearly 40% of the world's population. The region is highly diverse in terms of implementing traffic management technologies. On one side, countries such as China, India, and South Korea, are rapidly growing and simultaneously dealing with congestion issues and population explosion, while on the other side, there are small and high-tech islands of Singapore and Japan. The citizens of Thailand are extremely dependent on cars for urban transportation, resulting in heavy traffic congestions.

Key benefits of buying the report:

The report would provide market leaders/new entrants in the traffic management market, with information on the closest approximations of the revenue numbers for the overall traffic management market and subsegments. The report would help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It further helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, opportunities, and challenges.

Key Topics Covered:

1 Introduction

1.1 Objectives of the Study

1.2 Market Definition

1.3 Years Considered for the Study

1.4 Currency Considered

1.5 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Market Breakup and Data Triangulation

2.3 Market Size Estimation

2.4 Market Forecast

2.5 Competitive Leadership Mapping Methodology

2.6 Assumptions for the Study

2.7 Limitations of the Study

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Traffic Management Market

4.2 Traffic Management Market, By Component, 2019-2024

4.3 Market By Solution, 2019-2024

4.4 Market By Hardware, 2019-2024

4.5 Market By Service, 2019-2024

4.6 Market By System, 2019-2024

4.7 Traffic Management Market Share Across Countries, 2019

4.8 Market Investment Scenario

5 Market Overview and Industry Trends

5.1 Introduction

5.2 Market Dynamics

5.3 Traffic Management Projects

5.4 Traffic Management: Ecosystem

5.5 Use Cases

5.6 Global Traffic Index

6 Traffic Management Market, By Component

6.1 Introduction

6.2 Solutions

6.3 Hardware

6.4 Services

7 Traffic Management Market, By Solution

7.1 Introduction

7.2 Smart Signaling

7.3 Route Guidance and Route Optimization

7.4 Traffic Analytics

7.5 Smart Surveillance

8 Traffic Management Market, By Hardware

8.1 Introduction

8.2 Display Boards

8.3 Sensors

8.4 Surveillance Cameras

8.5 Others

9 Traffic Management Market, By Service

9.1 Introduction

9.2 Consulting

9.3 Deployment and Integration

9.4 Support and Maintenance

10 Traffic Management Market, By System

10.1 Introduction

10.2 Urban Traffic Management and Control

10.3 Adaptive Traffic Control System

10.4 Journey Time Measurement System

10.5 Predictive Traffic Modeling System

10.6 Incident Detection and Location System

10.7 Dynamic Traffic Management System

11 Traffic Management Market, By Region

11.1 Introduction

11.2 North America

11.3 Europe

11.4 Asia Pacific

11.5 Middle East and Africa

11.6 Latin America

12 Competitive Landscape

12.1 Competitive Leadership Mapping

12.2 Strength of Product Portfolio

12.3 Business Strategy Excellence

12.4 Ranking of Key Players for the Traffic Management Market, 2019

13 Company Profiles

13.1 Introduction

13.2 Cisco

13.3 SWARCO

13.4 Siemens

13.5 IBM

13.6 Kapsch TrafficCom

13.7 LG CNS

13.8 Indra Sistemas

13.9 Cubic

13.10 Accenture

13.11 Iteris

13.12 Cellint

13.13 Metro Infrasys

13.14 Gtt

13.15 Jenoptik

13.16 FLIR

13.17 Esri

13.18 PTV

13.19 IntelliVision

13.20 Transcore

13.21 IMTAC

13.22 Garmin

13.23 EFKON

13.24 Lanner Electronics

13.25 Citilog

13.26 Q-Free

13.27 Savari

13.28 Dahua Technology

13.29 Telegra Europe

13.30 Chetu

13.31 Telit

13.32 Huawei

13.33 International Road Dynamics

13.34 Rapid Flow Technologies

13.35 Advance Access

13.36 Advantech

13.37 Redflex

13.38 TRL Software

13.39 INRIX

13.40 Tomtom

13.41 Right-To-Win

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