Traffic Management Market 2018 Global Leaders: Accenture PLC, Atkins Group, Cellint, Cisco Systems, Citilog, Cubic Corporation, EFKON AG, Esri, FLIR Systems, IBM

Market Highlights:

Traffic management deals with the proper planning, controlling, and supervision of transportation services to reduce traffic density. The major factors driving the growth of the traffic management systems are increasing vehicle traffic which occurs due to increasing population and urbanisation, and government initiatives for traffic management under smart cities. As smart cities are growing, there is increasing need for the smart transportation solutions which is expected to drive the growth of the traffic management market. With high purchasing power and affordability, it becomes easier for a common person to own a vehicle. Having a vehicle adds comfort to the lifestyle of the people, however, this creates problems of traffic congestion, harmful gas emission and road accidents. Thereby, there is a need to manage and control the traffic which is fuelling the growth of traffic management systems market.

IBM’s transportation management solution provides sophisticated traffic management, built using cognitive computing and analytics which helps in optimizing transportation resources, make traffic flow more efficient and reduce travel time. The dynamic traffic management system (DTMS) is expected to show the fastest growth in traffic management market as it simulates and combines traffic data gathered from various sources such as surveillance cameras, sensors, and software with real time traffic information which allows effective management of the traffic.

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Major Key Players

Accenture PLC (Ireland),
Atkins Group (UK),
Cellint (Israel),
Cisco Systems, Inc. (US),
Citilog (France),
Cubic Corporation (US),
EFKON AG (Austria),
Esri (US),
FLIR Systems Inc (US),
IBM Corporation (US), among others, are profiled in Market Research Future analysis and are at the forefront of competition in the traffic management market.

According to MRFR, The Traffic Management Market is expected to grow at approximately USD 65 Billion by 2023, at 20% of CAGR between 2017 and 2023.

Industry News

Jul 18, Esri, a mapping company partners with Google’s Waze to help provide mapped traffic data and alert-based information.
Waze a mobile navigation app developer acquired by google in 2013 partnered with Esri, a geographic information system company to provide government and cities, real-time road condition and traffic data. Esri will use mapped traffic data from crowdsourced Waze users to offer live feed about traffic in a region. This service will allow engineers and city planners to make decisions based on the data for traffic infrastructure, improve traffic police presence, traffic light timings and locations. This is a stepping stone which will help city planners to build smart cities.
May 18, IBM had a patent granted for AI-managed traffic Lights.

IBM had granted a patent that control traffic lights using cameras. Computer would analyze the real-time traffic flow and provide the better traffic management by figuring out which traffic signal to show green light for what time to avoid traffic congestion in only one road. This system uses cognitive computing for controlling traffic signal that incorporates real-time data at an intersection.

Dec 16, Cisco and Brain Chip signs the agreement to demonstrate potential of Brain Chip’s SNAP technology.
Cisco internet of everything innovation center signs an agreement with Brain Chip to demonstrate Branches’ Spiking Neural Adaptive Processor (SNAP) Technology which are bound to showcase traffic monitoring, advanced analytics capabilities, road safety. This agreement demonstrates the use of SNAP technology in traffic management to improve the overall traffic management.

Regional Analysis:

Geographically, the traffic management market has been segmented into North America, Europe, Asia Pacific, and Rest-of-the-World.
Owing to the adoption of smart traffic management software, Europe has been projected to hold the largest market share. For better traffic management, this region has adopted software such as route guidance and smart signaling. Large-scale investment in smart city and smart transportation projects along with need for better traffic management and control mechanism are the major factors driving the market in Europe.
Due to increasing traffic congestion and measures adopted to minimize such congestion, Asia Pacific has been anticipated to show the fastest growth rate over the forecast period. Moreover, with support from the government like Smart City initiatives in China and India are also anticipated to be major factors driving the growth of the market.

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Intended Audience
• Investors and consultants
• System Integrators
• Government Organizations
• Research/Consultancy firms
• Technology solution providers
• IT Solution Providers
• Original Equipment Manufacturers

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