Traffic Management Systems are composed of a set of application and management tools to improve the overall traffic efficiency and safety of the transportation systems. To overcome such issue, the traffic management system gathers information from heterogeneous sources, exploits such information to identify hazards that may potentially degrade the traffic efficiency, and then provide services to control them.
The demand for traffic management systems is not only used for managing the traffic congestion and reducing the fuel wastage, also to assist passengers in planning their journey in advance, to avail on-demand services during journey, and help them to find the shortest route in the traffic boost the Traffic Management Systems market in the upcoming year.
According to BlueWeave Consulting, The Global Traffic Management Systems Market is expected to grow with a significant rate during the forecast period 2019-2025, owing to various Government initiatives to improving traffic infrastructure and growing public concern for traffic safety.
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Global Traffic Management Systems Market Competitive Landscape
EFKON AG, Siemens AG, Nuance Communications, Hitachi Ltd , Iteris, Inc., WS Atkins PLC, Thales Group, Telenav, Inc , Garmin International Inc., IBM, Cellint, Iteris, Kapsh, Swarco, Accenture, Siemens, Thales, Cubic, Systematics, Decell, Accenture PLC, Atkins Group, Affiliated Computer Services, Inc., Alstom SA, Cisco Systems, Inc., Cubic Corporation, ESRI, GE Transportation, IBM, Indra, Ineo, Kapsch, LG CNS, Schneider Electric and TomTom NV are the key players in manufacturing & services providers of Traffic Management Systems.
Software components type of Traffic Management Systems market is projected to be the leading segment of the overall market during the forecast period
On the basis of Component type, the Traffic Management Systems market has been segmented into Hardware, Software, and Services. Software dominates the global Traffic Management Systems owing to the demand for smart signaling, route guidance, smart surveillance, and traffic based traffic systems for improving public transportation and reducing cities polluted free. Hardware segment will boost by the demand for physical components & devices for public and private purposes.
Route Guiding is expected to the leading segment for providing Traffic Management Systems solutions during the forecast period
On the basis of solution type, the Traffic Management Systems market has been segmented into Smart Signaling, Route Guiding, and Traffic Analytics. Route Guiding is projected to leading segment owing to provide the best possible route that has less traffic congestion and disruptions and rendering automatic feedback controls from a real-time traffic situation. Smart Signaling will influence by its uses in reducing traffic congestion problems and provide efficient use of road space for smooth traffic activities.
Dynamic Traffic Management (DTM) System is projected to lead the industry for utilizing applications of the Traffic Management Systems during the forecast period
On the basis of application, the Global Traffic Management Systems market has been segmented into Urban Traffic Management Systems, Adaptive Traffic Control Systems, Journey Time Management Systems, Dynamic Traffic Management (DTM) System and Incident Detection & Location Systems. Dynamic Traffic Management System dominates the global Traffic Management Systems due to its application to reducing the deployment and integration time and providing end-to-end traffic smart signaling, route guidance, traffic analytics, and smart surveillance solutions for the traffic management market. Adaptive Traffic Control Systems will grow by its usage in providing better image processing techniques than conventional inductive loop detectors& Infrared sensors.
North America accounts for the lion’s share of the global Traffic Management Systems market during the anticipated period.
On the basis of region, the Traffic Management Systems market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominates the world Traffic Management Systems market over the forecast period owing to the early adoption Internet of things based traffic based systems by Governments couple with increment in vehicles owners. The Asia Pacific is projected to be the fastest growing market throughout the forecast period due to rising number of urban traffic management and smart city projects.
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Objective of the Study:
- To analyze and forecast market size of the world Traffic Management Systems market, in terms of Value.
- To examine the careful market segmentation and forecast the market size, in terms of value, on the premise of the region by segmenting world Traffic Management Systems market into 5 regions, namely, North America, Europe, Asia Pacific, Middle East, and geographical area.
- To outline, categorized and forecast the world Traffic Management Systems on the premise of component, solution and application.
- To examine competitive developments like expansions, technological advancement, services, and regulative framework within the world Traffic Management Systems market.
- To pinpoint the drivers and challenges for world Traffic Management Systems market
- To spot the profile of leading players, that area unit concerned within the producing and provide off Traffic Management Systems globally.
Key Target Audience:
- Market research and consulting firms
- Industry associations
- Raw material suppliers
- Global Traffic Management Systems manufacturers
- Research organizations and consulting companies
- Global Traffic Management Systems suppliers
- Organizations, associations, and alliances related to Traffic Management Systems market
- Regulatory bodies
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global Traffic Management Systems Market size & forecast. The report promises to provide state-of-the-art technology of Traffic Management Systems production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
About BlueWeave Consulting & Research Pvt Ltd. (BWC)
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