Traffic Management Market Share, Industry Size, Leading Companies Outlook, Upcoming Challenges and Opportunities till 2028, The Insight Partners

New Research Report on Global Traffic Management Market published by The Insight Partners, offers updated COVID-19 Impacts on global or regional Traffic Management Market. This report studies the global Traffic Management Market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels and distributors. Traffic Management Market report also offers a summary of revenue, sales, product demand, and provide of knowledge, cost, and growth analysis during the forecast year 2028. This report also presents a top to bottom investigation of the Traffic Management Market size, development, sections, producers, and advances, key patterns, normalization, arrangement models, openings, future guide and 2028. Regionally, this report categorizes the production, apparent consumption, export and import of Traffic Management Market in North America, Europe, China, Japan, Southeast Asia and India.

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The Global Traffic Management Market segmented by following:

By Component [Hardware (Cameras, Display Boards, and Sensors), Software (Cloud and On-Premise), and Services]

By Application (Automatic Tolling, Lane Management, Parking Management, Surveillance, Traffic Signal Management, and Others)

The Key Players In The Global Traffic Management Market Are

•Axis Communications AB
•Cisco Systems, Inc.
•Cubic Corporation
•Dahua Technology Co., Ltd.
•Hangzhou Hikvision Digital Technology Co., Ltd.
•IBM Corporation
•SGS SA
•Siemens AG
•SNC-Lavalin Group
•Teledyne FLIR LLC

The global population is increasing on a daily basis, and so is the number of people migrating to urban areas. As per the United Nations Conference on Trade and Development (UNCTAD), 56.2% of the global population resided in urban areas in 2020, compared to 51.6% in 2010. The percentage of urban dwellers was above 79% in developed countries, such as the US and UK. Such a growing urban population increased the stress on roadways. Additionally, the ownership of private vehicles is increasing proportionally among the urban population, thus increasing the burden on existing roadways, which is underlining the necessity of better traffic management systems to reduce congestion on existing road networks and offer a smoother transit for commuters. Furthermore, modern traffic management systems can assist authorities in reducing pollution, efficiently removing broken down vehicles, reducing queues at toll booths, and aiding drivers in efficient car parking, among others.

The global traffic management market ecosystem comprises the following stakeholders: component providers, hardware manufacturers, software providers, service providers, and end users. The component providers offer components such as lenses, memory modules, and chips. Hardware manufacturers include Axis, Hikvision, and Dahua. These companies offer different types of cameras, sensors, and display boards. Software solutions developed by developers enable hardware systems to collect data, analyze it, and derive meaningful insights from the collected and analyzed data. Service providers are uniquely positioned in the traffic management market's ecosystem and offer their service to all other stakeholders. End users are mostly government authorities and infrastructure development companies that are responsible for the proper functioning of roadways.

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Global Traffic Management Market Report is very helpful to develop or modify business expansion plans by using substantial growth offering developed and emerging markets. The Porter's five forces analysis used in the report reveals the intensity of the competitive rivalry and the bargaining power of suppliers and buyers. Moreover, this report highlights numerous industry verticals such as company profile, contact details of manufacturer, product specifications, geographical scope, production value, market structures, recent developments, revenue analysis, market shares and possible sales volume of the company. With the competitive analysis of the major players in the market, the Traffic Management Market report lends a hand to businesses in taking better moves for improving their product and sales.

Impact of COVID-19 Pandemic on Traffic Management Market Growth

The COVID-19 outbreak disrupted industry verticals such as automotive, manufacturing, energy & power, aerospace & defense, construction in 2020. The continuous growth in the number of COVID patients compelled government authorities in the US and other countries to impose stringent lockdowns in the first three quarters of 2020. This led to a significant decline in transportation across all countries. Implementing containment measures such as trade bans, travel restrictions, and workforce limitations impacted the manufacturing, supply, and sales activities of various businesses, including the companies providing traffic management hardware, software, and services. The manufacturing sector witnessed severe losses due to temporary factory shutdowns and low production volumes, which also hindered the production of traffic management hardware systems. In the US, the federal and state government focused more on tackling the pandemic; as a result, the installation of traffic management hardware and software was put on hold temporarily. The European traffic management industry was severely hit due to ~20% decrease in infrastructure project spending, resulting in delays and discontinuation of several smart cities and smart roadways projects. Higher semiconductor pr

Key suggestions for the new participants.

•Piece of the pie examination of the top business players.
•Market conjectures for at least 9 years of the relative multitude of referenced fragments, sub-portions, and the local business sectors.
•Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and suggestions).
•Organization profiling with point by point techniques, financials, and ongoing turns of events.
•Serious arranging planning the key regular patterns.
•Key suggestions in key business portions dependent on market assessments.

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