Traffic Management System Market Size By Component (Hardware [Sensors, Surveillance Camera, Display Boards], Software [Route Guidance, Smart Signaling, Traffic Analytics, Video Analytics Software, Video Management Software], Service [Integration, Maintenance & Support, Consulting]), By Deployment Model (On-Premise, Cloud), By Application (Adaptive Traffic Control System, Dynamic Traffic Management System, Incident Detection & Location System, Journey Time Measurement System, Predictive Time Modelling System, Urban Traffic Management & Control System), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Aug 2020  |  Report ID: GMI2363  |  Authors: Preeti Wadhwani, Saloni Gankar

Report Format: PDF   |   Pages: 300   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Traffic Management System Market size valued around USD 20 billion in 2019 and is anticipated to grow at 5% CAGR between 2020 and 2026. Growing demand to reduce traffic congestion and ease traffic flow for commuters is driving the industry growth. Increasing demand for route guidance & optimization solutions to reduce carbon footprint is being witnessed.
 

Rapid urbanization and congestion in cities globally have led to several government administrations to invest in smart city projects with an aim to provide proper infrastructure and smart transportation systems to all its citizens. For instance, in 2017, the Roads and Transport Authority of Dubai, UAE announced its five-year strategy for embracing smart autonomous transport by 2021. With the initiative, the government plans to implement 34 new projects extending from self-driving buses, autonomous drones, traffic information kiosks to expansion of pedestrian crossings. Such initiatives are driving the market demand for advanced traffic management systems in the UAE.
 

Traffic Management System Market

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Smart sensor-based traffic management systems are being increasingly fitted on roads and bridges to help assess state of the transport infrastructure and communicate the status to manufacturers, facilitating real-time repair. These technologies assist in improving efficiency and resource productivity.
 

The traffic management systems market will witness decline in 2020 owing to the coronavirus (COVID-19) pandemic. The scale of the pandemic can be compared to 9/11 or the 2008 financial crisis that impacted the global economy. The 2008-2009 financial crisis caused the economic activity to contract with more than 750,000 job losses recorded every month over the course of the recession. The Global Financial Crisis (GFC) caused a loss of more than USD 2 trillion in global economic growth with a drop of around 4%. Similarly, the coronavirus pandemic has caused global trade tensions, financial disruptions, and sharp downturns in major economies.
 

Growing demand for traffic analytic software to reduce congestion in the U.S.

The U.S. traffic management analytics market is poised to register over 9% growth through 2026 propelled by rapid adoption of the software among government authorities to reduce traffic congestion and offer real-time traffic alert to commuters. The solution enables dynamic control of traffic lights and display boards.
 

In January 2018, Telefonaktiebolaget LM Ericsson partnered with authority of City of Dallas, U.S. to install and integrate an Advanced Traffic Management System (ATMS) with connected urban transport solution offered by Ericsson. The solution will help improve the connection of systems to reduce costs and increase efficiency. It aggregates and analyzes diverse, real-time data from traffic cameras and sensors to dynamically control message signs, school flashers and traffic lights. The implementation started at the end of 2017 and the system will be fully operational by 2020.
 

Rapid adoption of cloud-based traffic management systems to offer real-time traffic updates

In the traffic management market, cloud service providers are offering cloud-based storage and application-deployment capabilities for the transportation infrastructure. Cloud-based traffic management solutions accounted for over 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. The solutions are offering real-time signal control and improving signal timing optimization.
 

Market demand for dynamic traffic management systems to reduce the risk of accidents

UAE Traffic Management System Market Size

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In the UAE, the dynamic traffic management system market will witness growth rate of more than 2% during the forecast timeline 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.
 

Smart mobility initiatives and partnerships of public companies & government authorities are propelling European market growth

Europe Traffic Management System Market

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Europe traffic management system market accounted for 25% revenue share in 2019 and will observe steady growth during 2020-2026. Implementation of advanced traffic management system solutions in smart city projects will fuel the regional market demand. Several countries in Europe are focusing on enhancing and expanding their transportation infrastructure to enable smart transportation.
 

For instance, in July 2019, a collaborative project was announced in Noord-Brabant, Netherlands. The local government of Noord-Brabant, in partnership with SmartwayZ.NL mobility program and Beijer Automotive BV, a telematics technology provider, is planning to use data collected by passenger cars to make the regional roadway management & maintenance smart. Improvements and investments in road transportation infrastructure will support the market penetration.
 

Focus on upgrading of existing transportation infrastructure

The competition in the global traffic management industry is characterized by R&D investments by market players in the development and commercialization of innovative solutions. The key players are focusing on securing contracts for deploying small, medium, and large-scale deployment projects for installing their solutions in smart city projects. For instance, in June 2020, Siemens AG received a contract worth USD 150 million by Miami-Dade County, Florida, U.S. Siemens AG will provide traffic management system solutions and upgrade 2,900 traffic corridors and intersections.
 

Key traffic management system market players are Accenture PLC, Cisco Systems, Inc., Citilog S.A. (Axis AB), Cubic Corporation, FLIR Systems, Garmin Ltd., IBM Corporation, Iteris Inc., Global Traffic Technologies, LLC, Jenoptik AG, Kapsch TrafficCom AG, Lanner Inc., Siemens AG, and Dahua Technology.
 

This market research report on traffic management system includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2026 for the following segments:

Market, By Component

  • Hardware
    • Sensors
    • Surveillance camera
    • Display boards
    • Others
  • Software
    • Route guidance
    • Smart signaling
    • Traffic analytics
    • Video analytics software
    • Video management software
  • Services
    • Integration service
    • Maintenance & support service
    • Consulting services

Market, By Deployment Model

  • On-Premise
  • Cloud

Market, By Application

  • Adaptive traffic control system
  • Dynamic traffic management system
  • Incident detection and location system
  • Journey time measurement system
  • Predictive time modelling system
  • Urban traffic management and control system

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Benelux
  • Asia Pacific
    • China
    • India
    • Japan
    • Singapore
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
  • MEA
    • Saudi Arabia
    • UAE
    • Israel
    • South Africa

 

Frequently Asked Questions (FAQ) :

The market size of traffic management system was exceeded USD 20 billion in 2019.
The industry share of traffic management system will witness more than 5% CAGR during 2020 to 2026.
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.

Premium Report Details

  • Published Date: Aug 2020
  • Pages: 300
  • Tables: 443
  • Charts / Figures: 29
  • Companies covered: 20
  • Countries covered: 23

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