Traffic Management Market Progresses for Huge Profits During 2015 to 2021

Traffic Management Market: Global Industry Analysis and Forecast to 2015 to 2021
The rising global population is increasing the number of vehicles plying on the roads, thus
increasing the traffic-density and incidences of road accident. A sound traffic management system
needs to be in place in every country, with industrialization speeding up. Increasing employment
further boosts demand for such systems wherein the economically population can manage their time
efficiently.
Traffic management systems offer real-time data and ability to analyze and respond immediately .
Based on solutions, the traffic management market can be classified into five categories, namely
extra low voltage (ELV) solutions, intersection controllers, full pedestrian solutions, LED signal
retrofit solutions, and parking space and ticketing management solutions. Based on detection
systems, the traffic management market can be segmented into three categories, namely above
ground pedestrian and vehicles detection, loop detection and closed circuit televisions (CCTV), and
automatic number plate recognition (ANPR) systems. Based on displays, the traffic management
market can be segmented into three categories, namely variable or dynamic message signboards,
vehicle information terminals, and others.
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The key drivers of the global traffic management market include increasing urbanization,
government initiatives to modify traffic infrastructure, and growing public concern for safety. The
increasing urbanization is have been escalating the traffic density levels making tough commuting
for the common masses . According to the United Nations, 54% of the global population lives in
urban areas. The global urban population is expected to reach 66% by 2050, with key contribution
coming from India, China, and Nigeria. While developed countries have been rapidly modifying
their traffic infrastructure, developing countries are incorporating changes in their traffic
management systems. The traffic management market also uses cloud services to assist vehicle
drivers with all necessary information. With the increasing emergence of smart cities, opportunities
for the global traffic management market is increasing. Some of the ongoing smart cities projects
include Amsterdam smart city, Masdar City, Planit Valley, Guangzhou Innovation City, Songdo Ibd,
Yokohama Smart City Project, Smart City Wien, Smart City Kochi, and Smart City Malta.
Other projects include Smart Parking Project Montreal (Canada), Chennai-Nashri Tunnel (India),
Elizabeth River Tunnels (The U.S.), Rohtang Tunnel (India), Deep Dredge Project (The U.S.), and
Johnson County Gateway Interchange Project Kansas (The U.S.).
Restraints associated with the traffic management market include heavy capital investment,
infrastructural legacy systems, and traffic hindrance due to transformation downtime. Due to lack of
funds, governments in underdeveloped and developing countries refrain from investing in new
technologies for traffic systems. Many of the urban areas in these countries do not have traffic
lights. However, some of these countries have started including basic forms of traffic management
systems such as CCTV cameras .
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North America dominated the global traffic management market in 2013, followed by Europe. The
traffic management market is competitive due to the presence of a large number of players. The key
players in the global traffic management market include Accenture, Affiliated Computer Services,
Inc., Alstom SA, Cisco Systems, Inc., Cubic, ESRI, GE Transportation, IBM, Indra, Ineo, Kapsch,
LG CNS, Schneider Electric, Siemens, and Thales.