Traffic Management Market

Global Traffic Management Market is valued at USD 33.86 Billion in 2021 and expected to reach USD 75.80 Billion by 2028 with a CAGR of 12.2% over the forecast period.

Global Traffic Management Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Rising number of road accidents, growing usage of smart traffic management and increasing technological advancements are some of the major factors driving the growth of Global Traffic Management Market.

Scope of Global Traffic Management Market

Traffic management is an act of directing vehicles and walkers around a disturbance influence (in some cases referred to as street traffic light). It very well may be a construction site, a public get-together, an accident, chopping down of a tree, heavy traffic, reemerging of street, or whatever else that could imperil or disturb a vehicle or a walker. Extra measures can be required when traffic control systems are found to have arrived at their limits and while growing capacity or making new street infrastructure isn't a choice. As of now, traffic control is particularly significant, however, overall objective of traffic management is to guarantee development of individuals and products in a protected, systematic, and proficient way as well as to preserve and, at whatever feasible, work on local environment close by traffic infrastructure.

The Covid-19 pandemic has shown a negative impact on the growth of global traffic management market. During Covid-19 pandemic, the imposition of lockdowns and strict social distancing norms to reduce the spread of the Covid has influenced the worldwide market. During pandemic, traffic was reduced due to lockdown, which hampered the market development. However, the slow opening of lockdowns, as well as developing market demand for innovative and advanced technologies, is expected to develop the market demand of traffic management system in the impending situation.

The global traffic management market is segmented on the basis of component, system, and region & country level. Based on the product, the global traffic management market is classified into hardware, software and services. Based on the system, the market is classified into adaptive traffic control system, urban traffic management and control, incident detection and location system, dynamic traffic management system, predictive traffic modeling system and journey time management system.

The regions covered in global traffic management market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global traffic management is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.

Key Players for Global Traffic Management Market

Some major key players in the global traffic management market report cover prominent players like

• Huawei
• Atkins Group
• Accenture PLC
• Cisco Systems
• Cellint
• Citilog
• EFKON AG
• FLIR Systems
• IBM Corporation
• Kapsch Trafficcom
• Q Free
• Siemens
• Thales Group
• Cubic Corporation
• Esri
• Inrix
• PTV Group
• Swarco
• other.

Global Traffic Management Segmentation

By Component

• Hardware
• Software
• Services

By System

• Adaptive Traffic Control System
• Urban Traffic Management and Control
• Incident Detection and Location System
• Dynamic Traffic Management System
• Predictive Traffic Modeling System
• Journey Time Management System

News-

Assam CM Launched Integrated Traffic Management System for Guwahati City

On August 24^th, 2022; Assam CM launched Integrated Traffic Management System for Guwahati metropolis. The ITMS is a state-of-the-art citizen friendly, coordinated and responsive traffic observation and control mechanism, outfitted with cameras at significant intersections of the city. It will assist in checking traffic violations and will prompt consistent traffic development in the city.

Eve Announced Halo Aviation as the Launch Customer for Its Urban Air Traffic Management solution

On July 18^th, 2022; Eve Holding, Inc. went into a letter of intent ("LOI") with Halo Aviation Ltd. to team up in the turn of development and launch Eve's Urban Air Traffic Management ("UATM") software solution. It is the primary LOI for Eve's state-of-the-art UATM solution, which will open the worth and organization performance of the UAM market to empower the protected adaptability of the business. The organizations likewise expect to develop a functional model to be deployed in specific missions and regions in the U.S. and the United Kingdom where Halo works.

Smart Traffic-Management System Launched in Melbourne

On March 23^rd, 2022; Australia will host a shiny new traffic- management system utilized the latest technology to decrease traffic jams and further develop street safety. AIMES is the world's first and biggest biological system for testing emerging associated transport technologies at large scale in complex urban conditions. The Intelligent Corridor denotes a significant new stage, giving another level of checking, with sensors on each intersection and a large group of initiatives that will make a world-driving traffic- management framework.

Rising Number of Road Accidents, Growing Usage of Smart Traffic Management and Increasing Technological Advancements are Some of the Factors Driving the Market Growth

One of the major factors driving the growth of the global traffic management market is the rising number of road accidents. With the quantity of accident-related deaths arriving at alarming levels, governments in different nations have forced regulation and given fines to further develop street safety. However, this has done little to decrease the number of individuals killed in car accidents. Thus, nations are moving towards the adoption of traffic management systems to avoid street accidents.  For example; according to World Health Organization (WHO), Street car accidents bring about the deaths of about 1.3 million individuals globally every year and leave between 20 and 50 million individuals with non-lethal injuries. In addition, growing usage of smart traffic management is also supplementing the market growth. Traffic management systems guarantee the smooth portability of people during their transportation by utilizing different devices and software coordinated on streets and traffic control centers. For example; in 2021, Dahua Technology declared the improvement of a complete smart traffic management solution that was created by consolidating video surveillance with AI, AR, ANPR, image fusion, and other state-of-the-art advances to meet the different necessities of present day traffic implementation divisions.

Furthermore, the increasing technological advancements also drive the global traffic management market growth. For instance; in 2021, Hikvision, an IoT solution provider acquiring viable experience with cameras, uncovered the all-Rounder ITS camera, its latest traffic item expected to additionally develop road prosperity and traffic stream. The camera merged various gifts and limits, including speed revelation, minor criminal offense area, and automated plate ID, and vehicle property assessment across the board bundle. However, lack of uniform technology standards & security-related issues may hamper the global traffic management market growth. In spite of that, the increasing government initiatives for infrastructural development can provide various opportunities for the further growth of the global traffic management market.

Asia Pacific is Expected to Show Significant Growth in the Global Traffic Management Market

Asia Pacific is expected to show significant growth in the global traffic management market due to the rising number of road accidents and increasing investment in research & development activities in this region. Rising number of road accidents in the region drives the market over the forecast period. For instance; according to the annual report of the National Crime Records Bureau (NCRB), India recorded 3, 74,397 accidental passings in 2020 and 2019 when the figure remained at 4, 21,104 with street crashes comprising over 35% of such fatalities. Growing research & development activities also drive the market in the Asia Pacific region. For example; on May 30^th, 2022, the Delhi Traffic Police launched AI-powered Integrated Traffic Management System, or ITMS, soon to oversee traffic and cut down on blockage on streets.

Europe is anticipated to grow faster in the global traffic management market within the forecast period due to the rising focus on improving and strengthening transportation infrastructure, and growing technological advancements in the region. For example; in July 2019, the Netherlands reported the partnership with Beijer Automotive BV and SmartwayZ.NL versatility program, which is expected to use information of the vehicles to further develop local roadway management.

By Regional & Country Level

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy

Asia Pacific

• China
• Japan
• India
• Southeast Asia

Latin America

• Brazil
• Mexico

Middle East and Africa

• GCC
• Africa
• Rest of Middle East and Africa

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2021 - 2028
Market Size in 2021:	USD 33.86 Billion
Base year considered	2021
Forecast Period CAGR %:	12.2%
Market Size Expected in 2028:	USD 75.80 Billion
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	Huawei, Atkins Group, Accenture PLC, Cisco Systems, Inc., Cellint, Citilog, EFKON AG, FLIR Systems, IBM Corporation, Kapsch Trafficcom, Q Free, Siemens, Thales Group, Cubic Corporation, Esri, Inrix, Inc., PTV Group, Swarco, and other.
Segments Covered	By Component, By System, By End-User.
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa