Global Traffic Management Market (2021-2027) by Component, Solutions, Deployment, System, and Geography, IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The Global Traffic Management Market is estimated to be USD 38.9 Bn in 2021 and is expected to reach USD 71.8 Bn by 2027, growing at a CAGR of 13%.



The main factor for the Global Traffic Management market is the increasing population and aggressive urbanization in developing countries. The increased focus of Government on smart city projects, growing public concern for safety, and the increased use of advanced technologies such as cloud-based services drive the global market.

The growing infrastructure that requires heavy capital investment is hindering the growth of the market. Infrastructural legacy systems and traffic hindrance due to transformation downtime are also the restraining factors of the Traffic Management market. Due to lack of fundings and resources, Governments in underdeveloped and developing countries abstain from investing in new technologies for traffic systems.

Market Dynamics

Drivers

• Rising Urban Population
• Growing Government Initiatives for Traffic Management Across Cities
• Rising Need for Real-Time Traffic Information Systems
• Regulatory Frameworks and Government Policies to Reduce Global Carbon Emissions

Restraints

• Lack of Standardized and Uniform Technologies
• Recovering ROI from Legacy Systems

Opportunities

• The emergence of IoT and Sensor Technologies in Traffic Management
• Penetration of Analytics in Traffic Management Network Systems

Challenges

• Multiple Sensors and Touchpoints Pose Data Fusion Challenges
• Security Threats and Hackers Challenge the Growth of the Market
• Low Penetration of DSRC Protocol

Segments Covered

Based on Component, Software Segment is the most potential segment in the Global Traffic Management Market. The traffic management software is very useful as it allows the live streaming of the traffic information to be used for predictive analytics of traffic management rules. The hardware is sub-segmented into Display boards, Sensors, and Surveillance Cameras. The surveillance cameras hold the largest market share in the hardware segment. The cameras are mounted on top of traffic signals or placed on congestive roads. The surveillance team keeps track of the traffic and provides information on traffic conditions based on the information gathered.

Based on the Solution, the market is segmented into smart Signalling, route guidance and route optimization, traffic analytics, and smart surveillance. Traffic Analytics has the maximum share in the market because it provides real-time information about the vehicle's current situation, unplanned changes in route, etc. It provides various planning tools to help make decisions based on real-time collected data.

Based on Deployment, Cloud-based traffic management solutions has a maximum share in the deployment mode segment. Through cloud computing, the system can gather information from multiple sources and locations. The virtualization capability of cloud computing enables the effective integration of different systems with physical computers, allowing simpler management through a single interface.

Based on the System, the Dynamic Traffic Management System market has a better growth rate due to the rising volume of freight transport on roads. Freight transportation increases traffic congestion issues, increasing the chances of accidents, and delayed travel time for commuters. Dynamic traffic management system enables users to manage and provide traffic, enabling information to be shared in a better manner.

Based on Region, North America has dominated the Global Traffic Management Market. Europe is the second-largest market. Due to the adoption of advanced technologies such as route guidance software and smart signaling, Europe is projected to be the leading region during the forecasted period. Asia-Pacific is also anticipated to be the fastest-growing owing to rapid urbanization and smart infrastructure investments.

The Global Traffic Management Market is segmented based on Component, Solutions, Deployment, System, and Geography.

Global Traffic Management Market, By Component

• Introduction
• Hardware
• Display Board
• Sensors
• Surveillance Cameras
• Software
• Services
• Consulting
• Deployment and Integration
• Support and Maintenance

Global Traffic Management Market, By Solution,

• Introduction
• Smart Signalling
• Route Guidance and Route Optimization
• Traffic Analytics
• Smart Surveillance

Global Traffic Management Market, By Deployment,

• Introduction
• On Premises
• Cloud

Global Traffic Management Market, By System

• Introduction
• Urban Traffic Management and Control System
• Adaptive Traffic Control System
• Journey Time Measurement System
• Predictive Traffic Modeling System
• Incident Detection and Location System
• Dynamic Traffic Management System

Global Traffic Management Market, By Geography

• Introduction
• North America
• South America
• Europe
• Asia Pacific
• Rest of the World

Company Profiles

Some of the companies covered in this report are Cisco, SWARCO, IBM, Kapsch TrafficCom, LG CNS, India Sistemas, Cubic, Accenture, Iteris, Cellint, Metro Infrasys, GTT, Jenoptik, FLIR, Esri, PTV, IntelliVision, Transcore, IMTAC, Garmin, EFKON, Lanner Electronics, Citilog, Q-Free, Savari, Dahua Technology, Telegra Europe, Chetu, Telit, International Road Dynamics, Rapid Flow Technologies, Advance Access, Advantech, Redflex, TRL Software, INRIX, Tomtom.

Competitive Quadrant

The report includes the Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance Score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Traffic Management Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.

• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.

• The report also contains the competitive analysis using the Competitive Quadrant, the publisher’s proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market