Traffic Management Market to Surpass $ 22 Billion by 2021
Increasing traffic congestion,
rising vehicle fleet size and growing technological advancements to drive
global traffic management market through 2021
According to TechSci Research
report, “Global
Traffic Management Market By Transportation Mode, By System Type, By Region,
Competition Forecast and Opportunities, 2011-2021”, the global market for traffic
management is projected to surpass $ 22 billion by 2021, due to rising demand
for traffic management in roadways, railways and airways; increasing demand for
real-time traffic monitoring for traffic control planning, incident detection,
vehicle location, route planning, journey time measurement, etc., coupled with
growing need for automating traffic management. In 2015, 89.68 million new
vehicles registrations were recorded across the globe. Rapid
growth in sales of passenger as well as commercial vehicles, rising demand for
public transit vehicles for easy commute, declining air fares, increasing air
passenger traffic, rising government initiatives towards controlling traffic
congestion are the major underlying factors that are expected to boost demand
for traffic management systems and solution across the globe over the next five
years.
Browse 49
market data Tables and 127 Figures spread through 216 Pages and an
in-depth TOC on "Global
Traffic Management Market"
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Over
the past few years, traffic management has undergone radical changes in terms
of technologies being used. This has also led to robust growth in road
solutions, where parking space and toll management are projected to emerge as
the fastest growing road traffic management solutions across the globe in the
coming years. In 2015, an average of around 161.9 million passengers travelled
by metro railways on a daily basis across the globe. With an increase in demand for metro railways as a preferred mode of transportation
along with modernization of traffic management system for tramways, railway
traffic management market is anticipated to witness robust growth during the
forecast period. Nevertheless, roadways segment dominated global
traffic management market in 2015, and the segment is
expected to continue its dominance through 2021. Siemens AG, Thales SA, Hitachi
Ltd., Alstom SA, Bombardier, Inc., Cubic Corporation, Kapsch TrafficCom AG,
Iteris, Inc., Q-Free, IBM Corporation, Cisco Systems, Inc., and LG CNS are
few of the leading players in the global traffic management market.
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“Growing
demand for intermodal transportation planning, urban traffic management &
control, route guidance, predictive traffic modelling, etc., in roadways,
railways as well as airways are driving global traffic management market. Growing
adoption of air travel coupled with booming tourism industry and rising number
of low cost air carriers is boosting demand for navigation and surveillance
services as well as air traffic management systems, that will not only reduce air
traffic congestion but also drive growth in the global air traffic management
market in the coming years.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Traffic Management
Market By Transportation Mode, By System Type, By Region, Competition Forecast
and Opportunities, 2011-2021” has evaluated the future
growth potential of global traffic management market and provides statistics
and information on market structure, size, share and future growth of global
traffic management market. The report is intended to provide cutting-edge
market intelligence and help decision makers take sound investment evaluation.
Besides, the report also identifies and analyzes emerging trends along with
essential drivers, challenges and opportunities in the global traffic
management market.
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