Traffic Management System Market Booming with Ravishing Keyplayers Schneider Electric, Accenture, Atkins Group, Affiliated Computer Services, Alstom SA, Cisco Systems, Cubic Corporation, ESRI, GE Transportation, IBM, Indra, Ineo, Kapsch

Traffic management is a system that providing traffic management solutions that improve traffic flow and safety of road users. It also advices the command control and signaling system which receives the information about the current traffic and the disturbances in the surrounding. Traffic management system includes pedestrian access, lane and sidewalk closures, traffic plans, services, and others.

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Increasing urbanization and growing public concerns for the safety are major factors driving the growth of the global traffic management system market

Increasing urbanization results in the rise of traffic density levels, making traveling troublesome for common folk. For instance, according to the Global Health Observatory (GHO), the urban population in 2014 accounted for 54% of the total global population, and continues to grow. Over half of the population in the world is staying in urban areas, which increases overcrowding in small areas. More people leads to more usage of vehicles triggering traffic congestion. Hence, traffic management system is the major need to control the traffic problems such as traffic congestions and others will positively impact the growth of traffic management market.

Global Traffic Management System Market: Taxonomy

On basis of solution, the traffic management system market is segmented into

-Hardware
-Software
-Services

On basis of software, the traffic management system market is segmented into

-Smart Signaling
-Route Guiding
-Traffic Analytics

On basis of hardware, the traffic management system market is segmented into

-Display Boards
-Sensors
-Surveillance Cameras
-Others

On the basis of systems, the traffic management system is segmented into

-Urban Traffic Management and control (UTMC) System
-Adaptive Traffic Control (ATC) System
-Journey Time Management (JTM) System
-Predictive Traffic Modeling (PTM) System
-Incident Detection and Location (IDL) System
-Dynamic Traffic Management (DTM) System

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North America accounted for the largest share in the global traffic management market in 2016. U.S. is the major growth engine in North America market. This is owing to increasing initiatives from the U.S. government towards improvement of traffic management facilities and implementation of intelligent transportation systems (ITS). For instance, the America's Surface Transportation Act or "FAST Act" was passed in 2015, in order to solve congestion issues regarding the traffic management, and enhance the transportation within the country.

The key players in the global traffic management market include Accenture PLC, Atkins Group, Affiliated Computer Services, Inc., Alstom SA, Cisco Systems, Inc., Cubic Corporation, ESRI, GE Transportation, IBM, Indra, Ineo, Kapsch, LG CNS, and Schneider Electric.

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This release was published on openPR.