Traffic Management Systems Market by Offering (Hardware (Sensors, Cameras, Others), Solution (Traffic Monitoring, Remote Enforcement, Others), Services), Deployment (Cloud, On-premise), Technology (IoT, AI, Others) & Geography

Description

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The research report titled, 'Traffic Management Systems Market by Offering (Hardware (Sensors, Cameras, Others), Solutions (Traffic Monitoring, Remote Enforcement, Others), Services), Deployment (Cloud, On-premise), Technology (IoT, AI, Others) & Geography-Forecasts to 2030'', provides in-depth analysis of traffic management systems market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2030.

The traffic management systems market is projected to reach $50.20 billion by 2030, at a CAGR of 13.3% from 2023 to 2030. The growth of the traffic management systems market is driven by increasing government investments in improving road safety, the rising need to ease traffic congestion, and growing urbanization. However, the high capital and maintenance costs of traffic management systems restrain the growth of this market.

The growing reliance on real-time traffic information and the proliferation of smart cities are expected to generate growth opportunities for the stakeholders in this market. However, the lack of technology adoption in developing countries and the incompatibility and lack of interoperability among different traffic management systems are major challenges impacting market growth.

Additionally, the integration of Artificial Intelligence (AI) in traffic management systems and the utilization of 5G technology for improved accuracy are prominent trends in the traffic management systems market.

Based on offering, the global traffic management systems market is segmented into hardware, solutions, and services. In 2023, the hardware segment is expected to account for the largest share of the global traffic management systems market. The large market share of this segment is attributed to the increasing deployment of surveillance cameras to identify vehicles, incidents, and traffic violators, the increasing need to install smart traffic signals due to growing traffic congestion incidents, and the rising focus of players operating in the market on development of hardware with advance facilities such as automatic number plate recognition.

However, the solutions segment is expected to record the highest CAGR during the forecast period. The growth of this segment is driven by the growing concern about traffic congestion and the rising need for remote enforcement solutions to identify and penalize traffic violations.

Based on deployment mode, the global traffic management systems market is segmented into cloud-based deployments and on-premise deployments. In 2023, the cloud-based deployments segment is expected to account for the larger share of the global traffic management systems market. The large market share of this segment is attributed to the increasing avenues for cloud-based deployments, superior flexibility and affordability offered by cloud-based deployments, and the increasing adoption of cloud-based traffic management systems.

Moreover, the cloud-based deployments segment is expected to record the highest CAGR during the forecast period. The growth of this segment is driven by the rapid evolution of new security and advanced capability avenues for cloud-based deployments.

Based on technology, the global traffic management systems market is segmented into AI, big data, IoT, cloud computing, and other technologies. In 2023, the IoT segment is expected to account for the largest share of the global traffic management systems market. The large market share of this segment is attributed to factors such as the increasing utilization of IoT devices among traffic operators for monitoring driving behavior, gathering information on traffic patterns, ensuring a safe driving experience, and addressing emergencies and among automotive manufacturers to enable navigation capabilities in their vehicles.

Moreover, the IoT segment is also projected to record the highest CAGR during the forecast period. The growth of this segment is driven by the growing use of connected devices in smart cities and the increasing integration of IoT technology in traffic management systems to ensure safe and hassle-free mobility. In addition, the benefits of IoT in traffic management, such as enabling connectivity across and between traffic management systems, increasing safety across intersections and highways, and providing accident detection capabilities, also contribute to segment growth.

Based on geography, the traffic management systems market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global traffic management systems market. The large market share of this segment is attributed to the presence of densely populated cities, the growing deployment of traffic management systems in the region to handle traffic flow, and increased congestion problems across urban cities.

Moreover, Asia-Pacific is expected to record the highest CAGR during the forecast period. The growth of this market is driven by rapidly growing urbanization in the region and growing technology acceptance. In addition, factor such as governments of various countries taking initiatives to build robust road infrastructure to support countries' economies as well as to reduce traffic problems is driving segment growth.

Key Players:

Some of the key players operating in the traffic management systems market are IBM Corporation (U.S.), Johnson Controls International plc (Ireland), TomTom N.V. (Netherlands), Q-Free ASA (Norway), Indra Sistemas, S.A. (Spain), Cisco Systems, Inc. (U.S.), Huawei Investment & Holding Co., Ltd. (China), Cubic Corporation (U.S.), Yunex GmbH (Germany), Oriux (U.S.), Kapsch TrafficCom AG (Austria), SWARCO AG (Austria), TransCore (U.S.), Teledyne FLIR LLC (U.S.), PTV Planung Transport Verkehr GmbH (Germany), Chevron Traffic Management Limited (U.K.), Onnyx Electronisys Pvt. Ltd. (India), Miovision Technologies Incorporated (Canada), Econolite Group, Inc. (U.S.), and Bercman Technologies AS (Estonia).

Key questions answered in the report-

Which are the high-growth market segments based on offering, deployment mode, and technology?
What was the historical market for traffic management systems?
What are the market forecasts and estimates for the period 2023-2030?
What are the major drivers, restraints, and opportunities in the traffic management systems market?
Who are the major players in the traffic management systems market?
How is the competitive landscape in the traffic management systems market?
What are the recent developments in the traffic management systems market?
What are the different strategies adopted by the major players in the traffic management systems market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global traffic management systems market, and how do they compete with the other players?

Scope of the report:

Traffic Management Systems Market Assessment, by Offering

Hardware
- Surveillance Cameras
- Sensors
- Display Boards/Digital Signages
- Other Hardware
Solutions
- Traffic Monitoring
Vehicle Identification and Tracking
Overloaded Vehicle Detection
Bicycle and Pedestrian Monitoring
Congestion Management & Control
Vehicle Speed Monitoring
- Traffic Signal Control
- Tolling & Faring
- Remote Enforcement
- Route Planning & Optimization
- Other Solutions
Services
- Consulting Services
- Deployment & Integration Services
- Maintenance & Support Services

Traffic Management Systems Market Assessment, by Deployment Mode

Cloud-based Deployments
On-premise Deployments

Traffic Management Systems Market Assessment, by Technology

IoT
AI
Big Data
Cloud Computing
Other Technologies

Traffic Management Systems Market Assessment, by Geography

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
Latin America
Middle East & Africa

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Product Code: MRICT - 104989

1. Introduction

1.1. Market Definition & Scope
1.2. Currency & Limitations
- 1.2.1. Currency
- 1.2.2. Limitations

2. Research Methodology

2.1. Research Approach
2.2. Process of Data Collection and Validation
- 2.2.1. Secondary Research
- 2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing and Forecast
- 2.3.1. Market Size Estimation Approach
- 2.3.2. Growth Forecast
2.4. Assumptions for the Study

3. Executive Summary

3.1. Overview
3.2. Market Analysis, by Offering
3.3. Market Analysis, by Deployment Mode
3.4. Market Analysis, by Technology
3.5. Market Analysis, by Geography
3.6. Competition Analysis

4. Market Insights

4.1. Overview
4.2. Factors Affecting Market Growth
- 4.2.1. Government Investments in Improving Road Safety Driving the Implementation of Traffic Management Systems
- 4.2.2. Increasing Traffic Congestion Boosting the Need for Traffic Management Systems
- 4.2.3. Rising Urbanization Supporting Market Growth
- 4.2.4. High Capital and Maintenance Costs Limiting the Adoption of Traffic Management Systems
- 4.2.5. Growing Reliance on Real-Time Traffic Information Increasing the Utilization of Traffic Management Systems
- 4.2.6. Proliferation of Smart Cities Creating Market Growth Opportunities
- 4.2.7. Lack of Technology Adoption in Developing Countries Impacting Market Growth
- 4.2.8. Compatibility and Interoperability Concerns Limiting the Implementation of Traffic Management Systems
4.3. Trends
- 4.3.1. Integration of Artificial Intelligence (AI) In Traffic Management Systems
- 4.3.2. Utilization of 5G Technology for Improved Accuracy
4.4. Case Studies
- 4.4.1. Case Study A (Q-Free ASA Helped the City of Gold Coast Implement Its Transport Strategy)
- 4.4.2. Case Study B (SWARCO AG Helped the Colorado Department of Transportation Replace Traditional Traffic Solutions with An Adaptive Traffic Solution)
- 4.4.3. Case Study C (TransCore Helped the New York City Department of Transportation Reduce Travel Time by Integrating Traffic Management Solutions)
- 4.4.4. Case Study D (PTV Planung Transport Verkehr GmbH Improved Traffic Flow in Stellenbosch, South Africa)

5. Traffic Management Systems Market Assessment-by Offering

5.1. Overview
5.2. Hardware
- 5.2.1. Surveillance Cameras
- 5.2.2. Sensors
- 5.2.3. Display Boards/ Digital Signages
- 5.2.4. Other Hardware
5.3. Solutions
- 5.3.1. Traffic Monitoring
  - 5.3.1.1. Congestion Management & Control
  - 5.3.1.2. Vehicle Identification and Tracking
  - 5.3.1.3. Vehicle Speed Monitoring
  - 5.3.1.4. Overloaded Vehicle Detection
  - 5.3.1.5. Bicycle and Pedestrian Monitoring
- 5.3.2. Traffic Signal Control
- 5.3.3. Route Planning & Optimization
- 5.3.4. Tolling & Faring
- 5.3.5. Remote Enforcement
- 5.3.6. Other Solutions
5.4. Services
- 5.4.1. Deployment & Integration Services
- 5.4.2. Maintenance & Support Services
- 5.4.3. Consulting Services

6. Traffic Management Systems Market Assessment-by Deployment Mode

6.1. Overview
6.2. Cloud-Based Deployments
6.3. On-Premise Deployments

7. Traffic Management Systems Market Assessment-by Technology

7.1. Overview
7.2. IoT
7.3. AI
7.4. Big Data
7.5. Cloud Computing
7.6. Other Technologies

8. Traffic Management Systems Market Assessment, by Geography

8.1. Overview
8.2. Asia-Pacific
- 8.2.1. Japan
- 8.2.2. China
- 8.2.3. India
- 8.2.4. South Korea
- 8.2.5. Rest of Asia-Pacific
8.3. Europe
- 8.3.1. Germany
- 8.3.2. U.K.
- 8.3.3. France
- 8.3.4. Italy
- 8.3.5. Spain
- 8.3.6. Rest of Europe
8.4. North America
- 8.4.1. U.S.
- 8.4.2. Canada
8.5. Latin America
8.6. Middle East & Africa

9. Competition Analysis

9.1. Overview
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Competitive Dashboard
- 9.4.1. Industry Leaders
  - 9.4.1.1. Market Ranking by the Key Players
- 9.4.2. Market Differentiators
- 9.4.3. Vanguards
- 9.4.4. Emerging Companies

10. Company Profiles

10.1. Leading Players
- 10.1.1. TomTom N.V.
- 10.1.2. SWARCO AG
- 10.1.3. Kapsch TrafficCom AG
- 10.1.4. Yunex GmbH (A SUBSIDIARY OF Mundys SpA)
- 10.1.5. Q-Free ASA
- 10.1.6. Indra Sistemas, S.A.
- 10.1.7. Cubic Corporation
- 10.1.8. IBM Corporation
- 10.1.9. Johnson Controls International plc
- 10.1.10. Cisco Systems, Inc.
- 10.1.11. Huawei Technologies Co., Ltd. (A Subsidiaries of Huawei Investment & Holding Co., Ltd.)
- 10.1.12. TransCore (A Subsidiaries of ST Engineering)
- 10.1.13. Teledyne FLIR LLC (A Subsidiary of Teledyne Technologies Incorporated)
- 10.1.14. PTV Planung Transport Verkehr GmbH
- 10.1.15. Chevron Traffic Management Limited
- 10.1.16. Econolite Group, Inc.
10.2. Other Players
- 10.2.1. Miovision Technologies Incorporated
- 10.2.2. Oriux
- 10.2.3. Onnyx Electronisys Pvt. Ltd.
- 10.2.4. Bercman Technologies AS

11. Appendix

11.1. Available Customization
11.2. Related Reports