Traffic Management Market (Software - Smart Signaling, Route Guidance, Traffic Analytics, and Smart Surveillance; System - Journey Time Measurement System, Predictive Traffic Modeling System, Incident Detection and Location System, Dynamic Traffic Management System, Urban Traffic Management and Control, and Adaptive Traffic Control System): Global Industry Analysis, Trends, Market Size and Forecasts to 2024. The global traffic management market is projected to grow at a CAGR of 20.4% over the forecast period of 2018-2024.
Pune, India -- (SBWIRE) -- 04/26/2019 -- Our latest research report entitled Traffic Management Market (by software (surveillance, smart signaling, route guidance, traffic analytics), system (journey time measurement, predictive traffic modeling, incident detection and location, dynamic traffic management, and adaptive traffic control system)) Industry Analysis, Trends, Market Size provides complete and deep insights into the market dynamics and growth of Traffic Management. Latest information on market risks, industry chain structure Traffic Management cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Traffic Management growth factors.
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The forecast Traffic Management market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, Traffic Management on a global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report. According to the report the global traffic management market is projected to grow at a CAGR of 20.4% over the forecast period of 2018-2024.
Traffic Management Market: Insight
Traffic management is the key branch within logistics regarding planning control and purchasing the transportation services that are physically needed to move the vehicles. Traffic management system offers real-time data to analyze and respond immediately. It collects the data from various sources such as traffic control sensors, CCTV cameras and road sensors significantly. Moreover, the collected data is then processed in the form of information to passengers, police stations, and traffic control agencies. The main aim behind the implementation of the traffic management system is to provide constructive traffic management solutions that enable highway operators or government authorities to take preventive actions that ultimately result in improving the safety of road users along with improving the traffic channel.
Traffic Management Market: Drivers and Restraints
Growing demand for the increasing urban population, intermodal transportation planning, and control in roadways, railways, and airways are anticipated to drive the global traffic management market. Additionally, government initiatives to modify traffic infrastructure and growing public concern for safety are the factors boosting the growth of the market. For instance, the Indian government in their union budget 2017-2018 has allocated National Highway Authority of India (NHAI) for the development of roads and highway under the Pradhan Mantri Gram Sadak Yojana PMGSY.
However, heavy capital investments and traffic hindrance are anticipated to restrain the growth of the market during the forecast period. On the other hand, due to lack of funds and the governments in the underdeveloped countries curb from investing in new technologies for traffic systems that in turn is having a negative impact on the market growth. Furthermore, the high adoption of technologies such as route guidance software and smart signaling are anticipated to create lucrative opportunities for the key players in the traffic management system market. Moreover, with the increasing emergence of smart cities, opportunities for the global traffic management market is increasing over the years to come.
Traffic Management Market: Regional Analysis
Among the geographies, North America dominated the global traffic management market followed by Europe. Moreover, Europe is projected to be the leading region due to the adoption of advanced technologies such as route guidance software and smart signaling. In addition, Asia Pacific is anticipated to be the fastest growing region owing to rapid urbanization and growing investments of smart infrastructure in developing countries such as India and China.
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Traffic Management Market: Segmentation
The report on global traffic management market covers segments such as software and system. On the basis of software, the global traffic management market is categorized into smart signaling, route guidance, traffic analytics, and smart surveillance. On the basis of system, the global traffic management market is categorized into journey time measurement system, predictive traffic modeling system, incident detection and location system, dynamic traffic management system, urban traffic management and control and adaptive traffic control system.
Traffic Management Market: Competitive Landscape
The report provides profiles of the companies in the global traffic management market such as Cubic Corporation, Metro Infrasys Private Limited, Indra Sistemas, S.A., LG CNS Co. Ltd., Q-Free ASA, Kapsch Trafficcom AG, International Business Machines Corporation, Siemens AG, Swarco AG, Cisco Systems, Inc and Accenture PLC.
Browse Detailed TOC, Description, and Companies Mentioned in Report @ https://www.infiniumglobalresearch.com/ict-semiconductor/global-traffic-management-market
Reasons to Buy this Report:
Comprehensive analysis of global as well as regional markets of Traffic Management.
Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.