Traffic Management Systems - Market Drivers, Forecasts 2015-2019

What is Traffic Management System?

Traffic Management Systems refer to IT solutions that smoothen the flow of vehicular traffic and enhance the safety and security of passengers.

Traffic Management Systems collate data from sources such as road sensors, CCTV cameras, and traffic control centers.  The system processes the collated data to generate useful information from it. The filtered information is passed on to the end users such as passengers, traffic control agencies, police stations, etc.

Traditionally, Traffic Management Systems have been used for reducing fuel wastage and congestion. However, with rapid technological advances, Traffic Management Systems are now helping users plan their journey in advance, to find the shortest route in real-time traffic, to avail on-demand services during journeys, etc. Traffic Management Systems are making commuting a hassle-free and enjoyable experience.

Market Overview of Traffic Management Systems:

The Global Traffic Management Systems Market is expected to grow rapidly during the forecast period, posting a CAGR of around 38 percent. The majority of the demand for Traffic Management Systems comes from North America, followed by EMEA, APAC, and Latin America. The report presents the changing investment trends and emerging markets.

The Global Traffic Management Systems Market is currently in its growth stage, and the market is witnessing increasing awareness of its technology, features, and benefits, among end-users.

The market recognizes the fact that it has become a top priority for commuters to avoid an increase in commuting time. Commuters are expecting Traffic Management Systems, which are efficient and capable of providing real-time updates about traffic in their regions. The emergence of advanced analytics is further improving the utility of Traffic Management Systems.

With improved internet and communication, modern Traffic Management Systems are providing faster upgrades and enhanced functionalities for end users.

Market Landscape and Top Companies in the Traffic Management Systems Market:

The Global Traffic Management Systems Market is highly fragmented with a number of vendors. The market is characterized by the presence of well-diversified international, regional, and local players. While several projects are already underway in the developed world, many companies in this market are looking to launch their products in developing economies as well. These regions pose a growing demand for advanced and intelligent Traffic Management Systems. There are several regional players in this market who are expected to account for a significant portion of the market share during the forecast period.

Some of the Leading Companies Operating in this Space Include:

• Cellint
• IBM
• Iteris
• Kapsh
• Swarco

The other prominent vendors who are helping the market expand include, Accenture, Cambridge Systematics, Cubic, Decell, Siemens, THALES and TomTom.

Trending Projects in the Traffic Management Systems Market:

Smart Parking Project Montreal, Canada:

In March 2014, Stationnement de Montreal, the entity that manages parking for the entire city of Montreal, signed a project with Streetline, a leading global provider of smart parking solutions. Streetline Is envisioned to improve the parking experience for motorists by reducing congestion and increasing parking availability.  The Streetline system provides access to a new level of data and analytics which is expected to improve travel-related decision-making abilities and optimize the cities resources for citizens of Montreal.

Elizabeth River Tunnels Project, United States:

The Elizabeth River Tunnels Project is expected to offer a wide range of improvements in Hampton Road transport systems and its overall economy. The benefits include reduction of the average round-trip user time, reduced pollution levels and savings on fuel. Road safety is expected to improve along with the reduced travel costs for end users, thereby resulting in an increased usage of the public transportation system. The project is expected to bring economic development benefits to the region to the tune of US$180-250 million.

Other Sections Include an Analysis on the Following:

• Key Drivers and their Impact on the Traffic Management Systems Market
• Market Challenges and their Impact on the Traffic Management Systems Market
• Key Trends and their Impact on the Traffic Management Systems Market
• Understand the replacement cycles of Traffic Management Systems Market
• Five Forces Analysis of the Traffic Management Systems Market
• SWOT Analysis of the top companies in the Traffic Management Systems

Other Related Reports:

• Global Air Traffic Control (ATC) Equipment Market 2015-2019
• Traffic Safety Market in India 2015-2019