Zion Market Research, the market research group announced the analysis report titled ‘Traffic Management Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024’
Global Traffic Management Market: Overview
Managed lanes, smart motorways, smart lanes, and managed motorways are some of the names of traffic management. Traffic management is nothing but a systematic method of increasing the peak capability and smoothing the heavy traffics on significant highways. Use of hard-shoulder, multiple speed limits, and overhead-controlled ramp-metering is done for efficient and active traffic management.
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Global Traffic Management Market: Growth Factors
The global traffic management market is boosting due to numerous factors. Government initiatives to modify traffic infrastructure, increasing urbanization and growing public concern for safety are the factors boosting the global traffic management market. Among these, increasing urbanization is the most common factor. Increased use of advanced technologies such as cloud-based services is driving the global market. In addition, huge interest in the population all over the world to own more than one vehicle is increasing the traffics and indirectly elevating the global traffic management market. On the other hand, growing infrastructures that include the building of huge and smooth national highways are hampering the global market. In addition, the growing awareness of the people about traffic rules is one of the factors that are hampering the global traffic management market.
Global Traffic Management Market: Segmentation
On the basis of the system types, the global traffic management market is classified as adaptive traffic control system, urban traffic management, and control system, predictive traffic modeling system, journey time measurement system, route guidance system, incident detection and location system, intermodal transportation planning system, dynamic traffic management system, maintenance tracking system, traffic management training system, and traffic data management system. Based on the solutions, the global market is segmented as intersection controllers, extra low voltage solutions, led signals and retrofit solutions, full pedestrian solutions, toll management solutions, and parking space. On the basis of the detection, the global traffic management market is divided as above-ground pedestrian and vehicle detection, CCTV and ANPR capabilities, and loop detection. Based on the type of display, the global market is bifurcated as vehicle information terminal, variable message sign, and others.
Global Traffic Management Market: Regional Analysis
The global traffic management market is regionally segmented mainly across North America and Asia Pacific. Use of advanced technologies in the North America is boosting the global market and will continue to drive the market in the near future. On the other hand, countries like Indian and China will have huge growth in the global traffic management market due to the rising population opting for more than one vehicles and urbanization.
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Global Traffic Management Market: Competitive Players
Key players in the global market for traffic management include Affiliated Computer Services Inc., Accenture, Cisco Systems Inc., Alstom SA, ESRI, Cubic, IBM, GE Transportation, Ineo, Indra, LG CNS, Kapsch, Siemens, Schneider Electric, and Thales.
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