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Traffic Management System Market Size By Component (Hardware [Sensors, Surveillance Camera, Display Boards], Software [Route Guidance, Smart Signaling, Traffic Analytics, Video Analytics Software, Video Management Software], Service [Integration, Maintenance & Support, Consulting]), By Deployment Model (On-Premise, Cloud), By Application (Adaptive Traffic Control System, Dynamic Traffic Management System, Incident Detection & Location System, Journey Time Measurement System, Predictive Time Modelling System, Urban Traffic Management & Control System), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Report ID: GMI2363
Published Date: Aug 2020
Report Format: PDF

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Traffic Management System Market Size

Traffic Management System Market size surpassed USD 20 billion in 2019 and is anticipated to grow at over 5% CAGR between 2020 and 2026. Growing demand to reduce traffic congestion and ease traffic flow for commuters is driving the industry growth.

Increasing need for route guidance & optimization solutions to reduce carbon footprint is being witnessed. Rapid urbanization and congestion in cities globally have led to several government administrations to invest in smart city projects with an aim to provide proper infrastructure and smart transportation systems to all its citizens.

Traffic Management System Market

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The industry had observed decline in 2020 owing to the coronavirus (COVID-19) pandemic. The scale of the pandemic can be compared to 9/11 or the 2008 financial crisis that impacted the global economy. The coronavirus pandemic has caused global trade tensions, financial disruptions, and sharp downturns in major economies.

Traffic Management System Market Report Attributes
Report Attribute	Details
Base Year:	2019
Traffic Management System Market Size in 2019:	20 Billion (USD)
Forecast Period:	2020 to 2026
Forecast Period 2020 to 2026 CAGR:	5%
2026 Value Projection:	25 Billion (USD)
Historical Data for:	2016 to 2019
No. of Pages:	300
Tables, Charts & Figures:	472
Segments covered:	Component, Deployment Model, Application and Region
Growth Drivers:	Regulatory frameworks and policies for reduction of carbon footprint Growing PPP models in transportation industry in North America and Europe Need for efficient traffic control in Asia Pacific and Latin America Rapid urbanization and government investment in smart transportation in Middle East & Africa Rapid adoption of IoT and network cameras for efficient traffic control in North America and Asia Pacific Growing demand for smart public transport and route guidance in Europe Increasing focus on urban mobility development in Latin America High investment in smart mobility projects in MEA
Pitfalls & Challenges:	High installation cost Data security & privacy concerns Lack of standardized and uniform technologies

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Traffic Management System Market Analysis

The U.S. traffic management analytics market is forecast to register growth rate of around 9% through 2026 propelled by rapid usage among government authorities to reduce traffic congestion and offer real-time traffic alert to commuters.

Cloud-based traffic management system market accounted for more than 30% of the deployment model segment share in 2019. Through cloud computing, the systems can gather information from multiple sources & locations to let vehicles make effective decisions in real-time. The virtualization capability of cloud computing enables the effective integration of different systems with a small number of physical computers, allowing simpler management through a single interface.

The adoption of vehicle connectivity and automation solutions has significantly contributed to market growth. Industry players are launching innovative cloud-based solutions for real-time traffic updates to commuters.

UAE Traffic Management System Market Size, By Application

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In the UAE, the dynamic traffic management segment is poised to witness 2% gains till 2026 due to rising volume of freight transport on roads. Freight transportation increases traffic congestion issues, increasing the chances of accidents and delayed travel time for commuters.

Europe Traffic Management System Market Size, By Country

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Europe traffic management system market size captured nearly 25% of the revenue share in 2019. Implementation of advanced traffic management system solutions in smart city projects will fuel the regional market demand. Several countries in the region are focusing on enhancing and expanding their transportation infrastructure to enable smart transportation.

Traffic Management System Market Share

The competition in the industry is characterized by R&D investments by market players in the development and commercialization of innovative solutions. Companies are focusing on securing contracts for deploying small, medium, and large-scale deployment projects for installing their solutions in smart city projects. For instance, in June 2020, Siemens AG received a contract worth USD 150 million by Miami-Dade County, Florida, U.S. Siemens AG will provide traffic management system solutions and upgrade 2,900 traffic corridors and intersections.

Key traffic management system market players are:

Accenture PLC
Cisco Systems, Inc
Citilog S.A. (Axis AB)
Cubic Corporation
FLIR Systems
Garmin Ltd
IBM Corporation
Iteris Inc
Global Traffic Technologies LLC
Jenoptik AG
Kapsch TrafficCom AG
Lanner
Siemens AG
Dahua Technology.

This market research report on traffic management system includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2026 for the following segments:

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Market, By Component

Hardware
- Sensors
- Surveillance camera
- Display boards
- Others
Software
- Route guidance
- Smart signaling
- Traffic analytics
- Video analytics software
- Video management software
Services
- Integration service
- Maintenance & support service
- Consulting services

Market, By Deployment Model

On-Premise
Cloud

Market, By Application

Adaptive traffic control system
Dynamic traffic management system
Incident detection and location system
Journey time measurement system
Predictive time modelling system
Urban traffic management and control system

The above information has been provided for the following regions and countries:

North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
Asia Pacific
- China
- India
- Japan
- Singapore
- South Korea
- Australia
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
MEA
- Saudi Arabia
- UAE
- Israel
- South Africa

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of traffic management system is predicted to cross USD 25 billion by 2026 growing at a rate of 5%, says this GMI report.

The U.S. traffic management system market is expected to register 9% CAGR through 2026. The software is being widely deployed to reduce traffic congestions and offer real-time traffic alerts to commuters.

Owing to the rapidly growing volume of freight transport, the UAE dynamic segment is forecast to register a CAGR of 2% through 2026.

The pandemic which has hit hard on the worldwide economy and created a wave of recession is expected to restrict the market demand.

Key participants are Accenture PLC, Siemens AG, Citilog S.A. (Axis AB), Cisco Systems, Inc., FLIR Systems, Garmin Ltd., Cubic Corporation, Iteris Inc., IBM Corporation, Jenoptik AG, Global Traffic Technologies, LLC, Lanner Inc., Kapsch TrafficCom AG and Dahua Technology.