Traffic Management Market to See Stunning Growth | Cubic Corporation, Cellint, International Business Machines Corporation

Traffic management is the process compiled of organizing, arrangement, guidance and control of both stationary and moving traffic, including pedestrians, bicyclists and all types of vehicles. The aim of traffic management system is to provide safe, orderly, and efficient movement of persons and goods, and to protect and, wherever possible, enhance the quality of the local environment on and adjacent to traffic facilities to reduce accidents. Traffic management system analyze real-time data and respond immediately.

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Rising number of personal & commercial small and heavy vehicles on the roads across the globe has led to congestion. Thus, rise in need for effective management of these vehicles to track and manage traffic to maximize performance, operations, and reliability of traffic management contributes toward the growth of the market.

Major players analyzed in the market include Cubic Corporation, Cellint, International Business Machines Corporation, Iteris Inc., Siemens AG, Swarco AG, Thales Group, and The Kapsch Group.

Increase in adoption of intelligent traffic management systems to improve efficiency in various situations including mobility and road transport is driving the traffic management market. Traffic management systems help reduce traffic congestion, eliminate delays, and send accurate information to commuters as well as traffic planners at the right time increasing its adoption in the market.

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Rising technological advancements such as smart traffic management and use of real time data analysis is driving the growth of traffic management market. Growth in construction of expressways to improve interstate transportation is another factor for the growth of traffic management market. However, security-related issues and lack of uniform technology standards is restraining the growth of traffic management market.

Contrarily, rapid penetration of smart cities in developing countries will influence the adoption of traffic management system. Increasing government initiatives for infrastructural development is an opportunistic factor for the growth of traffic management market in the forecasted years.

There is a surge in adoption of smart traffic management system. Smart traffic management is a system used to regulate city traffic. It uses sensors and traffic signals to monitor, control and respond to traffic conditions by real time data analysis. These centrally managed sensors and traffic signals are found on the city's main roads, which is driving the growth of traffic management market.

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