The traffic management systems propose the real-time data and capability to analyze and answer immediately. According to the report analysis, ‘Global traffic management Market Size study, by Solution (Smart Signaling, Route Guidance and Optimization, Traffic Analytics and Smart Surveillance), by Hardware (Display Boards, Sensors, Surveillance Cameras and Others), by Service (Consulting, Deployment and Integration and Support and Maintenance), by System (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) and Regional Forecasts 2018-2025’ states that in the worldwide market of traffic management there are several corporate which recently performing more significantly for leading the fastest market growth and registering the handsome value of market share around the globe during the short duration while developing the insights of traffic management systems, spreading the awareness related to the benefits of traffic management systems, delivering the better consumer satisfaction, decreasing the harmful effects of the traffic management systems, timely updating the systems of such, and augmenting the applications of such includes Cisco, Swarco, Siemens, IBM, Kapsch Trafficcom, LG CNS, Indra Sistemas, Cubic, Accenture, Iteris, Cellint, Metro Infrasys, GTT, Jenoptik, Flir and several others.
The Global traffic management market is worth around USD 25.4 billion in 2017 is predicted to increase with a vigorous growth rate of more than 13.5% over the review duration of 2018-2025. The Hyper-urbanization in underdeveloped countries and augmenting the requirement for the real-time information systems around the globe is anticipated to propel the global traffic management market. According to technocrats in 2016, 6-7 % of the Indian vehicles has GPS based car tracking? Not only has this, by 2020 the graph is anticipated to increase to 70 – 80 %. Moreover, approximately 24.9 % of personalities of United States utilized the GPS in their vehicle in 2016 and it is anticipated to reach 27.5% by 2020. Thus, the effective growth in the demand of real- time information system in vehicles such as GPS, growing the greenhouse gas emission and numerous other aspects are cooperatively propelling the growth of the market over the review duration.
Although, the significant increase in the global population is augmenting the amount of vehicles plying on the roads, thus growing the traffic-density and incidences of road accident. A sound traffic management system demands to be in position in every economy, with industrialization speeding up. Growing employment further boosts requirement for such systems wherein the economically populace can manage their duration efficiently.
The foremost drivers of the worldwide traffic management market involve the growing urbanization, government creativities to change the traffic infrastructure, and augmenting public concern for protection. The growing urbanization is have been growing and developing the traffic density levels creating tough commuting for the mutual masses. The traffic management market also utilizes the cloud services to support vehicle drivers with all compulsory information. With the growing appearance of the smart cities, opportunities for the worldwide traffic management market are growing. Therefore, in the coming years, it is anticipated that the market of traffic management will increase around the globe more significantly over the coming future.
For More Information, click on the link below:-
Ankur Gupta, Head Marketing & Communications