A recent study by MarketdsandMarkets, Traffic Management Market by Solutions, Displays & Systems (Full Pedestrian, Parking Space and toll Management, Above Ground Pedestrian and Vehicle Detection) - Global Advancements, Projects, Worldwide Forecast & Analysis (2014 - 2019) analysed and studied the major market drivers, restraints, and opportunities in North America, Western Europe, CIS and Eastern Europe, Middle East and Africa, Asia-Pacific and Latin America.
The study reports that the traffic management market is expected to grow from US$3,564.9 million in 2014 to US$16,894.9 million by 2019, at an estimated (Compound Annual Growth rate) CAGR of 36.5 per cent from 2014 to 2019.
The population rate is tremendously growing globally and is predicted by 2050 it will reach 9.7 billion. This will increase the statistics percentage of congestion, traffic, accidents and insecurity in all developed, and developing unless some intelligent technologies, solutions or applications are undertaken to control them. The report on traffic management includes the opportunity analysis of technology adoption across all solutions and services market such as Cloud services, traffic management services (TMS), intelligent transportation system (ITS) and many more. The ancient solutions only saved time to an extent but there was money wastage due to the congestion problem, whereas the new adopted technologies and solutions saves time, money, and is safe.
Some of the wide range of solutions offered includes intersection controllers, full pedestrian solutions, LED signals and retrofit solutions, extra low voltage and many more. The traffic management market holds the maximum percentage of market share in these and is expected to grow in the future years. Cloud service is one of the services adopted in the overall traffic management market by services, because of the innovation in performance and functions of smart devices.
Out of all the regions, North America is the largest revenue generator for services in the smart transportation market. Asia Pacific (APAC) is expected to show a significant rise in the revenues because of the budding inter-Asian and intra-Asian trade that exists between different countries of Asia.
The report also draws the competitive landscape of the traffic management market, providing an in-depth comparative analysis of the technological and marketing strategies that the key players are adopting in order to gain an edge over their competitors. The key strategies followed by most companies in the global Traffic Management Market are geographic expansion, diversification, acquisitions and investment in R&D. Some of the major players in this market are62 IBM, 6203 LG CNS, 1028 Cisco, 1968 Accenture, 378 Cubic, Affiliated Computer Services, 596 Thales, 81 Kapsch, 50 ESRI, 940 GE transportation, 189 Siemens, and many more.
The study reports that the traffic management market is expected to grow from US$3,564.9 million in 2014 to US$16,894.9 million by 2019, at an estimated (Compound Annual Growth rate) CAGR of 36.5 per cent from 2014 to 2019.
The population rate is tremendously growing globally and is predicted by 2050 it will reach 9.7 billion. This will increase the statistics percentage of congestion, traffic, accidents and insecurity in all developed, and developing unless some intelligent technologies, solutions or applications are undertaken to control them. The report on traffic management includes the opportunity analysis of technology adoption across all solutions and services market such as Cloud services, traffic management services (TMS), intelligent transportation system (ITS) and many more. The ancient solutions only saved time to an extent but there was money wastage due to the congestion problem, whereas the new adopted technologies and solutions saves time, money, and is safe.
Some of the wide range of solutions offered includes intersection controllers, full pedestrian solutions, LED signals and retrofit solutions, extra low voltage and many more. The traffic management market holds the maximum percentage of market share in these and is expected to grow in the future years. Cloud service is one of the services adopted in the overall traffic management market by services, because of the innovation in performance and functions of smart devices.
Out of all the regions, North America is the largest revenue generator for services in the smart transportation market. Asia Pacific (APAC) is expected to show a significant rise in the revenues because of the budding inter-Asian and intra-Asian trade that exists between different countries of Asia.
The report also draws the competitive landscape of the traffic management market, providing an in-depth comparative analysis of the technological and marketing strategies that the key players are adopting in order to gain an edge over their competitors. The key strategies followed by most companies in the global Traffic Management Market are geographic expansion, diversification, acquisitions and investment in R&D. Some of the major players in this market are
