Market Research Report
Global traffic management Market Size study, by Solution, by Hardware, by Service, by System and Regional Forecasts 2018-2025
|Global traffic management Market Size study, by Solution, by Hardware, by Service, by System and Regional Forecasts 2018-2025|
Published: February 14, 2019
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global traffic management market to reach USD 61.6 billion by 2025.
Global traffic management market is valued approximately USD 25.4 billion in 2017 is anticipated to grow with a healthy growth rate of more than 13.5% over the forecast period 2018-2025. Hyper-urbanization in developing countries and rising need for real-time information systems across the globe is expected to drive the global traffic management market. According to technocrats in 2016, 6-7 % of the Indian vehicles has GPS based car tracking. Furthermore, by 2020 the graph is expected to rise to 70 - 80 %. Moreover, around 24.9 % of individuals of united states uses GPS in their vehicle in 2016 and it is expected to reach 27.5% by 2020. Thus, increasing demand of real- time information system in vehicles such as GPS, increasing greenhouse gas emission and several other factors are collectively driving the growth of the market over the forecast period.
The report on global Traffic Management market includes Solution, Hardware and Service segments. Solution segment includes Smart Signaling, Route Guidance and Optimization, Traffic Analytics and Smart Surveillance, Hardware segment is sub-segmented into Display Boards, Sensors, Surveillance Cameras and Others , Service segment is further categorized into Consulting, Deployment and Integration and Support and Maintenance and System segment includes Urban Traffic Management and Control, Adaptive Traffic Control System, Journey Time Measurement System, Predictive Traffic Modeling System, Incident Detection and Location System and Dynamic Traffic Management System.
The regional analysis of Global Traffic Management Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the fastest growing market region for global Traffic Management market in terms of market revenue share. Factors such High adoption of solutions and traffic management control to minimize traffic congestions are promoting the growth of the market.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Historical year - 2015, 2016
Base year - 2017
Forecast period - 2018 to 2025