Traffic Management Market to Garner USD 102.41 Billion with Excellent CAGR of 14.20% by 2029, Size, Share, Industry Trends, Segmentation, Trend, Future Demand and Revenue Analysis

AUCKLAND, New Zealand, Sept. 21, 2022 /PRNewswire/ -- Data Bridge Market Research has a newly released expansive study titled "Global Traffic Management Market" which guarantees one will remain better informed than the competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and success in the market. Global Traffic Management Market research report endows with the most suitable and specific information to the decision-makers in the Traffic Management industry which saves their time and gives excellent output. With the systematic study performed by experts, of all these parameters are used to offer the best solution. The report analyses the potential of the market concerning the current scenario and the prospects by considering several industry aspects. This Traffic Management report explains several market factors such as market estimates and forecasts, entry strategies, opportunity analysis, market positioning, competitive landscape, product positioning, market assessment, and viability studies.

Data Bridge Market Research analyses that the traffic management market was valued at USD 35.40 billion in 2021 and is expected to reach the value of USD 102.41 billion by 2029, at a CAGR of 14.20% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

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Market Synopsis:-

The population of on-road vehicles, particularly passenger vehicles, is steadily increasing and is expected to reach two billion by 2040. This increases traffic density, resulting in wasted time and fuel, noise pollution, and road accidents. Because of the high concentration of traffic in many cities around the world, a proper traffic planning and control system is required. This has highlighted the importance of traffic management systems.

Traffic management is the process of organising, arranging, directing, and controlling both stationary and moving traffic, including pedestrians, bicyclists, and vehicles of all types. To reduce accidents, the goal of the traffic management system is to provide safe, orderly, and efficient movement of people and goods, as well as to protect and, wherever possible, improve the quality of the local environment on and adjacent to traffic facilities. Real-time data is analysed by traffic management systems, which respond immediately.

Opportunities for New Entrants:-

Increasing urbanisation and rapid industrialization are driving the global traffic management system market, creating a pool of opportunities for traffic management system vendors. The number of on-road vehicles is rapidly increasing as the population grows, creating a demand for traffic management.

Some of the major players operating in the Traffic Management market are:

• Cisco Systems, Inc. (U.S.),
• SWARCO (Austria),
• Kapsch TrafficCom AG (Austria),
• Thales (France),
• Q-Free A.S.A. (Norway),
• PTV Planung Transport Verkehr GmbH (Germany),
• Teledyne FLIR LLC (U.S.),
• Cubic Corporation (U.S.),
• TomTom International B.V. (Netherlands),
• Alibaba Group Holding Limited (China),
• Huawei Technologies Co., Ltd. (China),
• TransCore (U.S.),
• Chevron Corporation (England),
• Oriux (U.S.),
• Invarion Inc.

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Recent Development

• In July 2021, Siemens launched Yunex, formally known as Siemens intelligent traffic system,. (ITS). This was launched under a new brand name and would have a clear business focus and freedom.
• In May 2021, Q-Free developed kinetic CV, the most recent connected and autonomous vehicle (CAV) data solution. This is a cutting-edge single dashboard for traffic management platforms.
• Huawei and its partners created intelligent and connected vehicles for China in January 2021. The nation intends to make their travel easy and secure. A vehicle by the name of X-Bus is connected to a network for traffic management. Everything that occurs on the test road would be visible to this, and it would make decisions.

Core Objective of Traffic Management Market:-

• Every firm in the Traffic Management market has objectives but this market research report focus on the crucial objectives, so you can analysis about competition, future market, new products, and informative data that can raise your sales volume exponentially.
• Size of the Traffic Management market and growth rate factors.
• Important changes in the future Traffic Management market.
• Top worldwide competitors of the Market.
• Scope and product outlook of Traffic Management market.
• Developing regions with potential growth in the future.
• Tough Challenges and risk faced in Market.
• Global Traffic Management market top manufacturers profile and sales statistics.

Key Industry Drivers:-

• High proliferation of big data and internet of things (IoT)

Big data analytics and the internet of things (IoT) are becoming increasingly important in smart traffic and smart cities. In traffic management, the Internet of Things (IoT) refers to smart, connected devices such as sensors, vehicle-mounted information systems, and even private mobile phones.

• Investments and initiatives by various governments and companies

The major factors driving the traffic management market are investments and initiatives by various governments and companies around the world to support the development of traffic control and management infrastructure. Proper traffic management systems not only help to reduce traffic congestion and fuel waste, but they also save commuters time and money by assisting them in planning their journey.

• Restraints

The lack of standardised and uniform technologies and the transition of legacy infrastructure to smart traffic solutions will act as market restraints during the forecasted period. The most significant challenges to the growth of the traffic management market are security threats and hackers.

This traffic management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the traffic management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

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Key Market Segmentation:-

The Traffic Management Market is segmented on the basis of solution, hardware, service and system. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Solution

• Smart Signalling
• Route Guiding
• Traffic Analytics
• Smart Surveillance

Hardware

• Display Boards
• Sensors
• Surveillance Cameras
• Others

Service

• Consulting
• Deployment and Integration
• Support and Maintenance

Regional Analysis/Insights:

The traffic management market is analysed and market size insights and trends are provided by country, solution, hardware, service and system as referenced above.

The countries covered in the Traffic Management Market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the traffic management market as a result of the region's increasing implementation of intelligent transportation systems and the U.S. government's increasing initiatives to improve traffic management facilities.

Asia-Pacific is expected to grow at the fastest rate from 2022 to 2029, owing to rising demand for better traffic management in emerging markets such as India and China.

Table of Content:

Part 01: Executive Summary

Part 02: Scope of the Report

Part 03: Global Traffic Management market Landscape

Part 04: Global Traffic Management Market Sizing

Part 05: Global Traffic Management Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

To check the complete Table of Contents, click here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-traffic-management-market

Customization Options:

All segmentation provided above in this report is represented at country level and can be customized according to needs.

All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization).

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