Global Traffic Management Market – Industry Trends and Forecast to 2029

Traffic Management Market Analysis and Size

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.

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.

Report Scope and Market Segmentation

Market Definition

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.

Global Traffic Management Market Dynamics

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. These devices transmit data to a central system for analysis via the internet. Big data analysts analyse this information and use it to improve traffic management and vehicle flow. IoT technology devices, such as sensors and detectors distributed throughout the city and embedded in infrastructure, are used in smart cities for real-time analysis.

• 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.

During the journey, traffic management systems provide on-demand services such as parking management and route finding applications, driving market growth.

Opportunity

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.

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.

COVID-19 Impact on Traffic Management Market

The COVID-19 pandemic has spurred the development of automation technologies by multinational corporations, particularly in the fields of drones for surveillance and drug delivery and in the information technology sector. The unprecedented economic impact of COVID-19 on demand and supply, as well as geopolitics and globalisation implications, will have an impact on the future of automation. In order to improve resilience to future pandemics, the coronavirus pandemic may drive improvements in automation, digitalization, and artificial intelligence (A.I.) in the automotive sector in the post-COVID era. In this situation, automation and robotics could reduce reliance on human labour while increasing productivity, reducing the likelihood of future plant shutdowns. Furthermore, IoT, A.I., and digitalization will become increasingly important in the future and will define the new way of working. This lockdown allows us to adopt these new trends, increasing opportunities for the traffic management market in the coming years.

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.

Global Traffic Management Market Scope

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

System

• Urban Traffic Management and Control (UTMC) System
• Adaptive Traffic Control (ATC) System
• Journey Time Management (JTM) System
• Predictive Traffic Modelling (PTM) System
• Incident Detection and Location (IDL) System
• Dynamic Traffic Management (DTM) System

Traffic Management Market 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.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Traffic Management Market Share Analysis

The traffic management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to traffic management market.

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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