Global traffic management Industry to reach USD 79.3 billion by 2026. Global traffic management Industry is valued approximately USD 32.7 billion in 2019 is anticipated to grow with a healthy growth rate of more than 13.5% over the forecast period 2020-2026. Hyper-urbanization in developing countries and rising need for real-time information systems across the worldwide is expected to drive the global traffic management Industry. According to technocrats in 2016, 6-7 % of the Indian vehicles has GPS based car tracking. Where as, by 2020 the graph is expected to rise to 70 – 80 %. Moreover, around 24.9 % of individuals of united states uses GPS in their vehicle in 2016 and it is expected to reach 27.5% by 2020. Thus, increasing demand of real- time information system in vehicles such as GPS, increasing greenhouse gas emission and several other factors are collectively driving the growth of the Industry over the forecast period.
The report on global Traffic Management Industry includes Solution, Hardware and Service segments. Solution segment includes Smart Signaling, Route Guidance and Optimization, Traffic Analytics and Smart Surveillance, Hardware segment is sub-segmented into Display Boards, Sensors, Surveillance Cameras and Others , Service segment is further categorized into Consulting, Deployment and Integration and Support and Maintenance and System segment includes Urban Traffic Management and Control, Adaptive Traffic Control System, Journey Time Measurement System, Predictive Traffic Modeling System, Incident Detection and Location System and Dynamic Traffic Management System.
The regional analysis of Global Traffic Management Industry is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the fastest growing Industry region for global Traffic Management Industry in terms of Industry revenue share. Factors such High adoption of solutions and traffic management control to minimize traffic congestions are promoting the growth of the Industry.
The objective of the research study is to define Industry sizes of different segments & countries in recent years and to forecast the values to the coming six years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the research study. However, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Industry. Additionally, the report shall also incorporate available opportunities in micro Industry for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
traffic management Market Segmentation:
Route Guidance and Optimization
Vide Management Software
Vehicle Detection Sensors
Pedestrian Presence Sensors
Deployment and Integration
Support and Maintenance
Urban Traffic Management and Control
Adaptive Traffic Control System
Journey Time Measurement System
Predictive Traffic Modeling System
Incident Detection and Location System
Dynamic Traffic Management System
Rest of Europe
Rest of Asia-Pacific
Middle East & Africa