Persistence Market Research

Traffic Management Market: Global Industry Analysis and Forecast to 2020

Persistence Market Research Pvt. Ltd is released new forthcoming report on title "Traffic Management Market: Global Industry Analysis and Forecast to 2020".

 

New York, NY -- (SBWIRE) -- 12/04/2014 -- The increasing global population is leading to the growth in number of vehicles which is further increasing traffic-density and road-accidents. A sound traffic management system is required in every country where industrialization is speeding up. The increasing employment further increases the intensity of demand for such systems wherein the economically population can manage their time efficiently.

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Traffic management related solution and system offers real-time data and the ability to analyze and respond immediately. Based in solutions, traffic management market can be classified into five categories namely extra low voltage (ELV) solutions, intersection controllers, full pedestrian solutions, LED signal retrofit solutions and parking space and ticketing management solutions. Based on detection systems, the traffic management market can be segmented into three categories namely above ground pedestrian and vehicles detection, loop detection and closed circuit televisions (CCTV) and automatic number plate recognition (ANPR) systems. Based on displays, the traffic management market can be segmented into three categories namely variable or dynamic message signboards, vehicle information terminals and others.

The key drivers of global traffic management systems include increasing urbanization, government initiatives to modify traffic infrastructure and growing public concern for safety. The increasing urbanization is have been escalating the traffic density levels making tough commuting for the common masses. According to United Nations, 54% of the global population lives in urban areas. It is expected that the global urban population will reach 66% by 2050 wherein the key growth drivers will be India, China and Nigeria. The developed countries have been modifying their traffic infrastructure at a rapid pace, whereas the developing countries are also incorporating changes in their traffic management systems. The traffic management market also uses cloud services to assist the vehicle drivers with all necessary information. The increasing number of smart cities is emerging as opportunity for the global traffic management market. Some of the ongoing projects for smart cities include Amsterdam smart city, Masdar City, Planit Valley, Guangzhou Innovation City, Songdo Ibd, Yokohama Smart City Project, Smart City Wien, Smart City Kochi, and Smart City Malta.

Some other projects in this area are also laying opportunities for the traffic management market. They include Smart Parking Project Montreal (Canada), Chennai-Nashri Tunnel (India), Elizabeth River Tunnels (The U.S.), Rohtang Tunnel (India), Deep Dredge Project (The U.S.) and Johnson County Gateway Interchange Project Kansas (The U.S.).

Certain restraints associated with the traffic management market include heavy capital investment, infrastructural legacy systems and traffic hindrance due to transformation downtime. Due to lack of capital the government in underdeveloped and developing countries refrain from investing in new technologies for their traffic systems. Many of the urban areas in these countries do not have traffic lights. However, some of these countries have started including basic forms of traffic management systems such as CCTV cameras.

Among regions, North America dominated the global traffic management market in 2013, followed by Europe. The traffic management market is competitive due to the presence of large number of players. The key market players in global traffic management market include Accenture, Affiliated Computer Services Inc, Alstom SA, Cisco Systems Inc, Cubic, ESRI, GE Transportation, IBM, Indra, Ineo, Kapsch, LG CNS, Schneider Electric, Siemens, and Thales.

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Key points covered in the report

1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation

North America
Europe
Asia
RoW

3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
5) The report also provides porters five forces analysis of the market.

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