Asia Pacific Traffic Management Market to be Driven by Increasing Urbanization, Number of Vehicles

Rise in demand for real-time traffic information to drivers and passengers is driving the traffic management in the forecast period 2024-2028 across Asia Pacific.

According to TechSci Research report, “Asia Pacific Traffic Management Market - By Region, Competition Forecast & Opportunities, 2018-2028F”, The Asia Pacific Traffic Management market is rising through the forecast period, due to a rise in the need for real-time traffic updates for drivers and passengers, increased consumer use of drones for business and governmental purposes, and the adoption of digital services across sectors. In addition, the expansion of cloud-enabled services and the growing emphasis on upgrading current traffic point towards a significant change in favor of traffic management architecture services. One of the main drivers behind the rise of sophisticated traffic management is the rapid development of technologies like the internet of things (IoT) and linked gadgets. When companies use traffic management services, the gap between air quality, air pollution and company operations is eliminated by increasing efficiency and agility, minimizing accidents, lowering travel times quickly, affordably, while also enhancing efficiency. Furthermore, the rapid expansion of E-Commerce industries, increasing urbanization, and rising number of vehicles, are further expected to drive the growth of Asia Pacific traffic management in the market.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the "Asia Pacific Traffic Management Market"

The Asia Pacific Traffic Management Market is divided into component, system, end-user, and region. Based on component, the market is segmented into hardware, software and service. Further, the hardware sub-segment is bifurcated into display boards, sensors, signal lights, cameras, controllers, and others. Similarly, the software sub-segment is bifurcated into control room software, video management software, traffic signal control software, ANPR software, sign control software, and others. also, the services sub-segment is bifurcated into installation & system integration, engineering services, support & maintenance, and consulting. Based on system, the market is segmented into Urban Traffic Management and Control (UTMC) System, Adaptive Traffic Control System (ATCS), Journey Time Measurement System (JTMS), Predictive Traffic Modeling System (PTMS), Incident Detection and Location System (IDLS) and Dynamic Traffic Management System (DTMS). Additionally, based on end-user segment is categorized into healthcare & life sciences, BFSI, retail & consumer goods, manufacturing, IT & telecommunication, media & entertainment, government & public sector, and others. Based on region, the market is divided into China, Japan, South Korea, India, Australia, Singapore, Malaysia, Indonesia, Vietnam, New Zealand.

Based on component, the software segment is expected to dominate in the Asia Pacific traffic management market. The significant growth of this market may be attributed to the increasing usage of traffic analysis, route guidance, smart surveillance, and smart signaling solutions to control and improve the efficiency of traffic volume globally. Traffic management applications are gaining popularity because of the expansion of automobile use and urbanization. To profit from real-time analytics, the use ofsoftware is rapidly increasing while combining with cutting-edge technology. To improve business outcomes, companies can adopt and deploy traffic management systems like control room software and traffic light control software. As a result, the high solution segment acceptance rate enabled the expansion of the traffic management market in Asia Pacific.

Based on system segment, adaptive traffic control system (ATCS) segment is expected to dominate in the Asia Pacific traffic management market. These systems are used to adjust real-time traffic patterns to maximize traffic flows by dynamically changing the green split timings. Since these technologies help improve cities and junctions throughout the world, businesses are installing them to change the signal timings to preserve free-flowing traffic. These solutions employ optimization technology to address complex problems by improving travel time reliability, real-time traffic information management, traffic signal timing effectiveness, and congestion minimization through optimal traffic flow. The usage of adaptive traffic control systems is being encouraged by these benefits, which are anticipated to increase demand for goods and services in the traffic management sector.

Key market players in the Asia Pacific Traffic Management Market include:

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

Download Free Sample Report

Customers can also request for 10% free customization on this report.

“The Asia-Pacific Traffic management market is likely to rise in the upcoming years and is expected to maintain the significant CAGR during the upcoming years. The increasing adoption of advance next-generation technologies along with the strict regulations and increasing technological advancements in Singapore, China, and India, are proliferating the market’s growth. The rapid investment in the deployment of 5G infrastructure technologies and internet architectures in emerging areas such as machine-to-machine communication and Internet of Things (IoT) across Asia Pacific, are substantial boosting factors for driving revenue growth of the traffic management market in Europe. Moreover, country such as Singapore, as a major air hub for the Asia Pacific region, recognizes the importance to be an early adopter of air traffic management (ATM) changes to meet the rising demand on capacity. Furthermore, supportive government policies for traffic management all over the region with growing focus on effective traffic management systems, has also been positively influencing the market with a continuous urge for launching new service plans in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Asia Pacific Traffic Management Market Segmented By Component (Hardware (Display Boards, Sensors, Signal Lights, Cameras, Controllers, Others), Software (Control Room Software, Video Management Software, Traffic Signal Control Software, ANPR Software, Sign Control Software, Others) and Services (Installation & System Integration, Engineering Services, Support & Maintenance, Consulting)), By System ((Urban Traffic Management and Control (UTMC) System, Adaptive Traffic Control System (ATCS), Journey Time Measurement System (JTMS), Predictive Traffic Modeling System (PTMS), Incident Detection and Location System (IDLS), Dynamic Traffic Management System (DTMS)), By End-User (Healthcare & Life Sciences, BFSI, Retail & Consumer Goods, Manufacturing, IT & Telecommunication, Media & Entertainment, Government & Public Sector, Others), By Country, Competition, Forecast & Opportunities, 2028F has assessed the Asia Pacific Traffic Management market's future development potential and provides data and information on market size, structure, and projected market growth. The report's goal is to give current market knowledge and assist decision makers in making informed investment decisions. Furthermore, the study identifies and analyses emerging trends, as well as key drivers, constraints, and opportunities in the Asia Pacific traffic management market.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York 10017

Tel: +1-646-360-1656

Email: [email protected]

Website: www.techsciresearch.com