Traffic Management System Market Analysis

Traffic Management System Market Analysis

The U.S. traffic management analytics market is forecast to register growth rate of around 9% through 2026 propelled by rapid usage among government authorities to reduce traffic congestion and offer real-time traffic alert to commuters.

Cloud-based traffic management system market accounted for more than 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.

In the UAE, the dynamic traffic management segment is poised to witness 2% gains till 2026 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.
 

Europe traffic management system market size captured nearly 25% of the revenue share in 2019. Implementation of advanced traffic management system solutions in smart city projects will fuel the regional market demand. Several countries in the region are focusing on enhancing and expanding their transportation infrastructure to enable smart transportation.