Traffic Management Market Future Outlook, COVID-19 Impact Analysis, Forecast - 2031

The global traffic management market is expected to grow at a CAGR of nearly 11.5% during the forecast period (2024-2031). The major factors driving the growth of the global traffic management market include the increasing number of vehicles and road traffic injuries globally. According the World Health Organization (WHO), around 1.3 million individuals die every year due to road traffic accidents with 20 to 50 million non-fatal injuries. Additionally, the adoption of advanced technologies in vehicles and smart vehicles will propel the growth of the market.

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Traffic management is a vital area of logistics that includes controlling services, traffic planning, and the procurement of transportation services. Accidents have increased significantly in recent years, and the traffic management market has played an essential role in minimizing the rising number of incidents. The traffic management market is always changing and growing, and it is currently in that development phase when many discoveries and advancements are constantly taking place. Further advancements in new traffic management systems will drive the replacement of traditional traffic management approaches.

The key players contributing to the growth of the global traffic management market by adopting various strategies such as product launches and developments, mergers and acquisition, partnerships, and agreements, include Cisco Systems Inc., SWARCO AG, Siemens AG, International Business Machines Corporation, Kapsch TrafficCom AG, among others. For instance, in April 2021, SWARCO AG introduced its MyCity?urban mobility management?software?to prevent traffic accidents. In addition, it aids to reduce the occurrence of accidents, form a green wave and prioritize specific types of vehicles?including buses or emergency vehicles, and make traffic flow smoother with fewer emissions.

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Key questions addressed by the report

What is the market growth rate?
Which segment and region dominates the market in base year?
Which segment and region will project fastest growth in the market?
How COVID-19 impacted the market?
o Recovery Timeline

o Deviation from pre-COVID forecast

o Most affected region and segment

Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
o By Component

o By System

Competitive Landscape- Cisco Systems Inc., SWARCO AG, Siemens AG, International Business Machines Corporation, Kapsch TrafficCom AG, among others.

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominates the market in base year?
Which segment and region will project fastest growth in the market?
How COVID-19 impacted the market?
o Recovery Timeline

o Deviation from pre-COVID forecast

o Most affected region and segment

Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

Global Traffic Management Market- Segmentation

By Component

Hardware
o Display Boards

Multifunctional Boards
Vehicle Detection Boards
Communication Boards
o Sensors

Vehicle Detection Sensors
Pedestrian Presence Sensors
Speed Sensors
o Surveillance Cameras

Internet Protocol Cameras
Analog Cameras
o Others

Solution
o Smart Signaling

o Route Guidance and Route Optimization

o Traffic Analytics

o Smart Surveillance

Video Management Software
Video Analytics
Automatic Number Plate Recognition
Facial Recognition
Incident Detection
Services
Consulting
Implementation
Support and Maintenance

By System

Urban Traffic Management and Control
Adaptive Traffic Control System
Journey Time Management System
Predictive Traffic Modelling System
Incident Detection and Location System
Dynamic Traffic Management System


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