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Traffic Management System Market Analysis

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

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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.

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.