Press release
Network Occupancy Management Software Market Overview, Business Strategies and Recent Developments by 2026
Network Occupancy Management Software Market - Overview
Network occupancy management is used for the effective management of road space. This management solution introduces an improved set of procedures for the management of road space occupancy to reduce road user delay. The purpose of the network occupancy management software is to optimize the use of lane road space. Network occupancy management (NOM) integrates multiple technologies to improve the flow of vehicle traffic and improve safety.
Network Occupancy Management Software Market - Drivers & Restraints
A factor driving the global network occupancy management software market is widespread urban expansion in most developing countries. Rapid industrialization and rise in urbanization increase the number of vehicles on the road across the globe. This is driving demand for road occupancy management. Moreover, initiatives by governments to manage road space further boost the market growth. For instance, the Indian government announced the allocation of around US$ 9.5 Bn to the National Highway Authority of India (NHAI) for the development of roads in 2016-2017. However, high security risks and restructuring legacy infrastructure are anticipated to hamper the network occupancy management software market in the near future. Adoption of cloud services in network occupancy management software is a key trend in the market. Integration of information technology in network management software systems is expected to result in the development of advanced systems with advanced capabilities and enhanced performance. This creates significant opportunities for the global network occupancy management software market.
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Network Occupancy Management Software Market - Segmentation
The global network occupancy management software market can be categorized based on component, platform, connection type, solution, and geography. Based on component, the market can be classified into software, hardware, and services. The software segment can be further divided into standalone software component and integrated software component. The hardware segment can be further split into (sensors, lighting sensors, space/desk sensors, CCTV, Bluetooth devices, displays, network connecting equipment, camera, and others). The services segment can be further categorized into professional managed services, consulting services, deployment and integration, maintenance and support, and managed services. In terms of platform, the market can be segmented into cloud platform and on-premise platform. In terms of connection type, the network occupancy management software market can be classified into wired connection and wireless connection. Based on solution, the market can be divided into traffic management, demand management, parking management, performance management, and others. In terms of region, the network occupancy management software market can be classified into North America, South America, Europe, Asia Pacific, and Middle East & Africa.
The network occupancy management software market in Europe is expected to expand at a significant growth rate due to stringent government rules and regulations related to road network. In developed countries, the global network occupancy management software market accounts for significant market share. North America and Europe are projected to be leading regions of the network occupancy management market, owing to high investment in smart city and smart transportation projects by governments. The market in Asia Pacific is estimated to expand at a fast pace during the forecast period, due to rapid urbanization and increase in investments in the development of smart infrastructure in developing countries by governments of countries such as India and China.
Network Occupancy Management Software Market – Key Players
Innovative systems are being introduced in an increasingly competitive vendor landscape. Companies operating in the global network occupancy management software market are focusing on innovations and development. Major vendors in the global network occupancy management software market include Bentley Systems, Incorporated, CULTEC, Inc. Accenture Plc.,IBM Corporation (International Business Machines Corporation), Cisco System, LG Corporation (LG CNS Co. Ltd.), Swarco AG, Kapsch (Kapsch Trafficcom AG), Siemens AG, Q-Free ASA, Condeco Group Ltd, Axis Communications AB, and Excel I.T. Ltd.
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Tailwinds and headwinds molding the market’s trajectory
Market segments based on products, technology, and applications
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