The of the traffic management market was USD 36.40 billion in 2021 and is expected to register a revenue CAGR of 11.6% during the forecast period, according to the latest analysis from Emergen Research. Rising number of vehicles and insufficient infrastructure are key factors driving the growth of the market. The development and launch of several smart vehicles by the automotive giants are expected to create several opportunities for the major market players. In addition, by launching connected and partially automated vehicles, manufacturers are gradually developing the market for autonomous vehicles.
GPS and sensor technology, such as radar and ultrasound, help autonomous vehicles sense their surroundings. These vehicles are equipped with sophisticated control systems that analyze sensory data to determine the best navigation routes and locate blind spots, obstacles and relevant signage. As driver assistance technologies become more sophisticated, more autonomous driving is expected.
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However, using multiple sensors and accessing multiple touchpoints can cause data fusion issues. Data collected from many touchpoints and sensors is combined using data fusion and reduces the complexity of measurement systems and blind spots.
Many sensors, including loop detectors, ultrasonic wave detectors, pedestrian sensors, and cameras, are used in traffic management systems and all produce huge volumes of data. This is a difficult effort that sometimes results in the inability of these systems to synthesize and integrate all the raw data generated from these touchpoints to gain valuable traffic insights such as speed, travel times and traffic jams.
The competitive landscape of the report has been formulated considering all the essential parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial condition, market position and expansion plans. The report also examines in detail recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government agreements, and partnerships, among others. The report also sheds light on recent technological developments and product advancements in the Traffic Management market.
Additionally, the report provides details about new players entering the market and barriers to entry-level and offers strategic recommendations to overcome these hurdles to gain a substantial presence in the industry.
Some major companies in the global market report include Cisco, Tomtom, Chevron, Siemens, IBM, Atkins, BioEnable, Omnitec Group, Cubic Corporation and Kapsch TrafficCom.
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The solutions segment is expected to register significant market revenue growth. With traffic management solution providers enabling businesses to ensure that each traffic control center is connected to other systems, such as traffic light systems and other detection devices, and Properly integrating traffic control systems, it is expected that the solution industry will maintain its larger market size.
Computer hardware and software meet international standards. The program simplifies monitoring and reacts quickly to events. Route guidance and route optimization are the most widely used techniques. With route optimization, users can select the most convenient and affordable route for their trip.
The adaptive traffic control systems segment is expected to record steady growth. It dramatically reduces travel time and improves flow efficiency, reducing traffic congestion, by gradually moving automobiles through green lights. The real-time responses of the adaptive traffic control system take into account traffic patterns and vehicle movements in developing countries.
It uses forward detection and provides a user-friendly interface to enable day-to-day operations. Junction traffic data is integrated into a central traffic system, and the algorithm of the adaptive traffic control system generates ideal red-green phases of traffic lights to achieve the green-green synchronization of junctions throughout the region of deployment.
Emergen Research has segmented the traffic management market based on components, systems, and regions:
Components Outlook (Revenue, USD Billion; 2019-2030)
(Revenue, USD billion; 2019-2030)
Urban traffic management and control
Adaptive System Traffic Control System
predictive traffic modeling
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Key insights presented in the report:
Market revenue share by major business players, by type, by application and scope of the global traffic management market
Sales revenue by major players and new entrants
Competitive analysis of key players including aspects such as company overview, product or service specifications, suppliers and buyers
Mergers, acquisitions, recent product launches, recent investments and joint ventures
Regional analysis to provide insight into recent trends and opportunities
The report also offers regional level analysis and market estimation for the regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
North America (USA, Canada)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
Key questions answered by the report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements in the market?
What are the key strategies adopted by the leading players of the Traffic Management market?
What are the major product types and applications in the traffic management industry?
What is the result of the SWOT analysis and Porter’s five forces analysis?
How is the Competitive Landscape of the Traffic Management Market?
Who are the key industry players?
What is the growth rate of the industry in the coming years?
What will be the valuation of the traffic management market by 2030?
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