Integrated Traffic Systems Market is Witnessing Phenomenal Growth By 2025
APAC integrated traffic systems market is expected to show significant growth over the forecast period due to growing urbanization in developing countries such as India and China. According to World Bank, 57.96% of the China’s population was living in the urban areas and 33% of the Indian population was living in urban areas in 2017. The increased population in cities is increasing traffic congestion across which is propelling the demand for integrated traffic system. The government authorities in the developing countries are focusing on improving the passenger safety specially for women and children.
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Integrated Traffic Systems Market is expected to grow significantly over the forecast period due to increasing demand for on-road safety, increase in number of vehicles in developing countries and growing urbanization across the world. The increase in government support for Intelligent Transport Systems (ITS) to enhance road safety is another factor fueling the market growth. The increase in adoption of the smart cities is helping in development of improved roadside traffic infrastructure. The technological advancements such as autonomous vehicle and Vehicle-to-Everything (V2X) connectivity is also supporting the integrated traffic systems market growth. The growing demand for traffic control and monitoring across the cities to reduce the traffic congestion across the cities is helping in growing adoption of integrated traffic systems.
Integrated Traffic Systems Market, By Offerings, 2014-2025 (USD Million)
• Traffic Monitoring
• Number Plate Recognition System
• Journey Time Measurement System
• Traffic Control
• Intelligent Traffic Lighting
• Parking Management
• Incident Detection System
• Information Provision
• Multifunctional System
• Information Communication System
• Deployment and Integration
• Support and Maintenance
Integrated Traffic Systems Market, By Hardware 2014-2025 (USD Million)
• Display boards
• Vehicle Detection Sensors
• Pedestrian Presence Sensors
• Speed Sensors
• Surveillance cameras
• Smart traffic lights
• Interface boards
The above information has been provided for the following regions and countries:
o North America
o Latin America
The smart traffic infrastructure involves smart surveillance cameras which reduces the crimes associated with vehicles. It helps in avoiding the illegal vehicle driving practices such as traffic violating vehicle can be tracked and penalized at the next traffic junction based on the vehicle registration number. This helps in creating a discipline in driving practices which improves the road efficiency. It improves the reliability in journey times between various locations which enables passenger with enhanced quality of road-based transportation experience. There is lack of significant standardization of communication technologies used in integrated traffic significant which can be a big restraint in integrated traffic systems market demand. The integrated traffic system requires development of high cost smart road-side infrastructure. This can be a big challenge in adoption of integrated traffic systems in developing countries.
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Europe is expected to dominate the integrated traffic systems market over forecast period due to increase in number of commercial and passenger vehicle sales in the region. For instance, according to International Organization of Motor Vehicle Manufactures, in 2017, the passenger vehicle sales in Europe was 17,937,345 and commercial vehicles sales was reported 2,978,680. The Germany was leading country in vehicle sales across the Europe with 3,811,246 total vehicle sales. The existing traffic systems is not able to handle the rising on road vehicles which is resulting in growing demand of integrated traffic system in European countries such as Germany and France.
The major players operating in integrated traffic systems market are Siemens, Kapsch Trafficcom, Cisco, SWARCO, Sumitomo Electric, LG CNS, FLIR, Cubic Corporation, Jenoptik, Iteris, Savari, EFKON, Transcore, Imtac, Citilog, Atkins, GTT, Intelvision Technologies, PTV Group and Q-Free.
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