Traffic Management Market by Software (Smart Signaling, Route Guidance, Traffic Analytics, and Smart Surveillance), Hardware (Display Boards, Sensors, Surveillance Cameras, and Others), Service, System, and Region - Global Forecast to 2022

The traffic management market size is projected to grow from USD 22.96 Billion in 2017 to USD 59.48 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 21.0%. High demographic growth and hyper urbanization in developing countries, and government initiatives for traffic management under smart cities models are some of the factors driving the traffic management market. The base year considered for this study is 2016 and the forecast period considered is 2017–2022.

Objectives of the Study

• To describe and forecast the global market on the basis of systems, solutions (software, hardware, and services), and regions
• To forecast the market size of the 5 main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America
• To analyze sub segments with respect to the individual growth trends, prospects, and contributions to the total market
• To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
• To analyze the opportunities in the market for stakeholders and to provide details of competitive landscape for the major players
• To profile key players and comprehensively analyze their core competencies and positioning
• To track and analyze competitive developments, such as mergers and acquisitions; new product developments; and partnerships, agreements, and collaborations in the market

The research methodology used to estimate and forecast the traffic management market begins with capturing data on key vendor revenues through secondary research, such as transport associations, transportation journals, and databases, including D&B Hoovers, Bloomberg Businessweek, and Factiva, to identify and collect information useful for this technical, market-oriented, and commercial study of the market. Vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and sub segments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments. The breakdown of primary profiles is depicted in the below figure:

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The traffic management ecosystem comprises service providers, such as Accenture PLC (Dublin, Ireland), Atkins Group (London, UK), Cellint (Tel Aviv, Israel), Cisco Systems, Inc. (California, US), Citilog (Arcueil, France), Cubic Corporation (California, US), EFKON AG (Raaba, Austria), Esri (California, US), FLIR Systems, Inc. (Oregon, US), IBM Corporation (New York, US), Indra Sistemas, S.A. (Madrid, Spain), Industrial Management Technology & Contracting (IMTAC) LLC (Muscat, Sultanate of Oman), IntelliVision Technologies (California, US), Iteris, Inc. (Delaware, US), Jenoptik AG (Jena, Germany), Kapsch TrafficCom AG (Vienna, Austria), Lanner Electronics Inc. (New Taipei, Taiwan), LG CNS Co. Ltd. (Seoul, South Korea), Metro Infrasys Pvt. Ltd. (New Delhi, India), PTV Planung Transport Verkehr AG (Baden-Württemberg, Germany), Q-Free ASA (Trondheim, Norway), Siemens AG (Munich, Germany), SWARCO AG (Wattens, Austria), TransCore, LP (Pennsylvania, US), and Savari, Inc. (California, US). Other stakeholders of the traffic management market include smart transportation technology vendors and hardware providers.

Key Target Audience

• Technology solution providers
• Transport agencies
• Public transportation authorities
• Networking and Communication Service Providers (CSPs)
• System integrators
• Cloud service providers
• Smart cities stakeholders
• Investors and consultants

“The research study answers several questions for the stakeholders, primarily which market segments to focus in the next 2–5 years for prioritizing the efforts and investments.”

Scope of the Report

The research report categorizes the traffic management market to forecast the revenues and analyze the trends in each of the following submarkets:

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 Solution

• Software
• Hardware
• Services

By Software

• Smart signaling
• Route guidance
• Traffic analytics
• Smart surveillance

By Hardware

• Display boards
• Sensors
• Surveillance cameras
• Others (intelligent traffic controller, networking components, and linked traffic controller)

By Service

• Consulting
• Deployment and integration
• Support and maintenance

By Region

• North America
• Europe
• MEA
• APAC
• Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations based on the company‘s specific needs. The following customization options are available for the report:

Geographic Analysis

• Further breakdown of the APAC market into countries contributing 75% to the regional market size
• Further breakdown of the North American market into countries contributing 75% to the regional market size
• Further breakdown of the Latin American market into countries contributing 75% to the regional market size
• Further breakdown of the MEA market into countries contributing 75% to the regional market size
• Further breakdown of the European market into countries contributing 75% to the regional market size

Company Information

Detailed analysis and profiling of additional market players (up to 5).

Table of Contents

1 Introduction (Page No. - 18)
    1.1 Objectives of the Study
           1.1.1 Business Intelligence
           1.1.2 Competitive Intelligence
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 23)
    2.1 Research Data
                    2.1.1.1 Breakdown of Primaries
                    2.1.1.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Microquadrant Methodology
    2.4 Research Assumptions and Limitations
           2.4.1 Assumptions
           2.4.2 Limitations

3 Executive Summary (Page No. - 31)

4 Premium Insights (Page No. - 36)
    4.1 Attractive Market Opportunities in the Traffic Management Market
    4.2 Traffic Management Market, By System, 2017–2022
    4.3 Market, By Solution, 2017–2022
    4.4 Market, By Software, 2017–2022
    4.5 Market, By Hardware, 2017–2022
    4.6 Market, By Service, 2017–2022
    4.7 Market, By Region, 2017
    4.8 Life Cycle Analysis, By Region

5 Market Overview and Industry Trends (Page No. - 42)
    5.1 Introduction
    5.2 Traffic Management Projects
           5.2.1 Smart City Bhubaneswar India
           5.2.2 Cavite-Laguna Expressway (Calax) Philippines
           5.2.3 Sheikh Jaber Al-Ahmed Al-Sabah Causeway Kuwait
           5.2.4 Vilnius Traffic Management System Lithuania
           5.2.5 Thompsons Roadways Project, Melbourne Australia
           5.2.6 Elizabeth River Tunnels Project United States
           5.2.7 Inuvik to TuKToyaKTuk Highway Projects Canada
           5.2.8 Cost Road Junction Upgrade United Kingdom
           5.2.9 Smart City Kochi India
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Availability of Hardware and Connectivity Devices at Affordable Cost
                    5.3.1.2 High Demographic Growth and Hyper-Urbanization in Developing Countries
                    5.3.1.3 Government Initiatives for Traffic Management Under Smart Cities Models
                    5.3.1.4 Rising Need for Real-Time Information System
           5.3.2 Restraints
                    5.3.2.1 Lack of Standardized and Uniform Technology
           5.3.3 Challenges
                    5.3.3.1 Data Fusions Challenges Due to Multiple Sensors and Touch Points in Traffic Management Systems
                    5.3.3.2 High Security Risks
                    5.3.3.3 Reshaping Legacy Infrastructure Into Smart Traffic Solutions
           5.3.4 Opportunities
                    5.3.4.1 Emergence of Iot
                    5.3.4.2 Adoption of Edge Analytics in Traffic Management System

6 Traffic Management Market Analysis, By Solution (Page No. - 49)
    6.1 Introduction

7 Traffic Management Market Analysis, By Software (Page No. - 52)
    7.1 Introduction
    7.2 Smart Signaling
    7.3 Route Guidance
    7.4 Traffic Analytics
    7.5 Smart Surveillance
           7.5.1 Video Management Software
           7.5.2 Video Analytics
                    7.5.2.1 Video Analytics, By Application
                               7.5.2.1.1 Anpr
                               7.5.2.1.2 Facial Recognition
                               7.5.2.1.3 Pedestrian Detection
                               7.5.2.1.4 Incident Detection

8 Traffic Management Market Analysis, By Hardware (Page No. - 65)
    8.1 Introduction
    8.2 Display Boards
    8.3 Sensors
           8.3.1 Vehicle Detection Sensors
           8.3.2 Pedestrian Presence Sensors
           8.3.3 Speed Sensors
    8.4 Surveillance Cameras
    8.5 Others

9 Traffic Management Market Analysis, By Service (Page No. - 73)
    9.1 Introduction
    9.2 Consulting
    9.3 Deployment and Integration
    9.4 Support and Maintenance

10 Traffic Management Market Analysis, By System (Page No. - 79)
     10.1 Introduction
     10.2 Urban Traffic Management and Control
     10.3 Adaptive Traffic Control System
     10.4 Journey Time Measurement System
     10.5 Predictive Traffic Modeling System
     10.6 Incident Detection and Location System
     10.7 Dynamic Traffic Management System

11 Geographic Analysis (Page No. - 90)
     11.1 Introduction
     11.2 North America
     11.3 Europe
     11.4 Asia Pacific
     11.5 Middle East and Africa
     11.6 Latin America

12 Competitive Landscape (Page No. - 119)
     12.1 Microquadrant Overview
             12.1.1 Visionary Leaders
             12.1.2 Innovators
             12.1.3 Dynamic Differentiators
             12.1.4 Emerging Companies
     12.2 Competitive Benchmarking
             12.2.1 Strength of Product Portfolio
             12.2.2 Business Strategy Excellence

13 Company Profiles (Page No. - 123)
(Business Overview, Products & Services, Key Insights, Recent Developments,)*
     13.1 Cisco Systems, Inc.
     13.2 Swarco AG
     13.3 Siemens AG
     13.4 International Business Machines Corporation
     13.5 Kapsch Trafficcom AG
     13.6 Q-Free ASA
     13.7 LG CNS Co. Ltd.
     13.8 Indra Sistemas, S.A.
     13.9 Metro Infrasys Private Limited
     13.10 Cubic Corporation
     13.11 Accenture PLC 
     13.12 Iteris, Inc.
     13.13 Cellint

*Details on Business Overview, Products & Services, Key Insights, Recent Developments, Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 162)
     14.1 Discussion Guide
     14.2 Knowledge Store: Marketsandmarkets Subscription Portal
     14.3 Introducing RT: Real-Time Market Intelligence
     14.4 Available Customization
     14.5 Related Reports
     14.6 Author Details

List of Tables (82 Tables)

Table 1 United States Dollar Exchange Rate, 2014–2016
Table 2 Traffic Management Market Size, By Solution, 2015–2022 (USD Million)
Table 3 Traffic Management Market Size, By Software, 2015–2022 (USD Million)
Table 4 Software: Traffic Management Market Size, By Region, 2015–2022 (USD Million)
Table 5 Smart Signaling: Market Size, By Region, 2015–2022 (USD Million)
Table 6 Route Guidance: Market Size, By Region, 2015–2022 (USD Million)
Table 7 Traffic Analytics: Market Size, By Region, 2015–2022 (USD Million)
Table 8 Smart Surveillance: Market Size, By Type, 2015–2022 (USD Million)
Table 9 Smart Surveillance: Market Size, By Region, 2015–2022 (USD Million)
Table 10 Video Management Software: Traffic Management Market Size, By Region, 2015–2022 (USD Million)
Table 11 Video Analytics: Market Size, By Region, 2015–2022 (USD Million)
Table 12 Video Analytics: Market Size, By Application, 2015–2022 (USD Million)
Table 13 Video Analytics Applications: Market Size, By Region, 2015–2022 (USD Million)
Table 14 Automatic Number Plate Recognition: Traffic Management Market Size, By Region, 2015–2022 (USD Million)
Table 15 Facial Recognition: Market Size, By Region, 2015–2022 (USD Million)
Table 16 Pedestrian Detection: Market Size, By Region,  2015–2022 (USD Million)
Table 17 Incident Detection:Market Size, By Region, 2015–2022 (USD Million)
Table 18 Hardware: Market Size, By Type, 2015–2022 (USD Million)
Table 19 Hardware: Market Size, By Region, 2015–2022 (USD Million)
Table 20 Display Boards: Market Size, By Region, 2015–2022 (USD Million)
Table 21 Sensors: Market Size, By Type, 2015–2022 (USD Million)
Table 22 Sensors: Market Size, By Region, 2015–2022 (USD Million)
Table 23 Vehicle Detection Sensors: Market Size, By Region, 2015–2022 (USD Million)
Table 24 Pedestrian Presence Sensors: Market Size, By Region, 2015–2022 (USD Million)
Table 25 Speed Sensors: Market Size, By Region, 2015–2022 (USD Million)
Table 26 Surveillance Cameras: Traffic Management Market Size, By Region, 2015–2022 (USD Million)
Table 27 Others: Market Size, By Region, 2015–2022 (USD Million)
Table 28 Services: Traffic Management Market Size, By Type, 2015–2022 (USD Million)
Table 29 Services: Market Size, By Region, 2015–2022 (USD Million)
Table 30 Consulting: Traffic Management Market Size, By Region, 2015–2022 (USD Million)
Table 31 Deployment and Integration: Traffic Management Market Size, By Region, 2015–2022 (USD Million)
Table 32 Support and Maintenance: Traffic Management Market Size, By Region,  2015–2022 (USD Million)
Table 33 Systems: Traffic Management Market Size, By Type, 2015–2022 (USD Million)
Table 34 Systems: Market Size, By Region, 2015–2022 (USD Million)
Table 35 Urban Traffic Management and Control: Traffic Management Market Size,  By Region, 2015–2022 (USD Million)
Table 36 Adaptive Traffic Control System: Market Size, By Region, 2015–2022 (USD Million)
Table 37 Journey Time Measurement System: Market Size,  By Region, 2015–2022 (USD Million)
Table 38 Predictive Traffic Modeling System: Market Size,  By Region, 2015-2022 (USD Million)
Table 39 Incident Detection and Location System: Market Size,  By Region, 2015–2022 (USD Million)
Table 40 Dynamic Traffic Management System: Traffic Management Market Size,  By Region, 2015–2022 (USD Million)
Table 41 Traffic Management Market Size, By Region, 2015–2022 (USD Million)
Table 42 North America: Traffic Management Market Size, By Type, 2015–2022 (USD Million)
Table 43 North America: Market Size, By Software, 2015–2022 (USD Million)
Table 44 North America: Market Size, By Smart Surveillance, 2015–2022 (USD Million)
Table 45 North America: Market Size, By Video Analytics,  2015–2022 (USD Million)
Table 46 North America: Market Size, By Hardware, 2015–2022 (USD Million)
Table 47 North America: Market Size, By Sensor, 2015–2022 (USD Million)
Table 48 North America: Market Size, By Service, 2015–2022 (USD Million)
Table 49 North America: Market Size, By System, 2015–2022 (USD Million)
Table 50 Europe: Traffic Management Market Size, By Type, 2015–2022 (USD Million)
Table 51 Europe: Market Size, By Software, 2015-2022 (USD Million)
Table 52 Europe: Market Size, By Smart Surveillance, 2015-2022 (USD Million)
Table 53 Europe: Market Size, By Video Analytics, 2015–2022 (USD Million)
Table 54 Europe: Market Size, By Hardware, 2015–2022 (USD Million)
Table 55 Europe: Market Size, By Sensor, 2015–2022 (USD Million)
Table 56 Europe: Market Size, By Service, 2015–2022 (USD Million)
Table 57 Europe: Market Size, By System, 2015–2022 (USD Million)
Table 58 Asia Pacific: Traffic Management Market Size, By Type, 2015–2022 (USD Million)
Table 59 Asia Pacific: Market Size, By Software, 2015–2022 (USD Million)
Table 60 Asia Pacific: Market Size, By Smart Surveillance,  2015–2022 (USD Million)
Table 61 Asia Pacific: Market Size, By Video Analytics, 2015–2022 (USD Million)
Table 62 Asia Pacific: Market Size, By Hardware, 2015–2022 (USD Million)
Table 63 Asia Pacific: Market Size, By Sensor, 2015–2022 (USD Million)
Table 64 Asia Pacific: Market Size, By Service, 2015–2022 (USD Million)
Table 65 Asia Pacific: Market Size, By System, 2015–2022 (USD Million)
Table 66 Middle East and Africa: Traffic Management Market Size, By Type, 2015-2022 (USD Million)
Table 67 Middle East and Africa: Market Size, By Software,  2015-2022 (USD Million)
Table 68 Middle East and Africa: Market Size, By Smart Surveillance, 2015–2022 (USD Million)
Table 69 Middle East and Africa: Market Size, By Video Analytics, 2015-2022 (USD Million)
Table 70 Middle East and Africa: Market Size, By Hardware,  2015–2022 (USD Million)
Table 71 Middle East and Africa: Market Size, By Sensor, 2015–2022 (USD Million)
Table 72 Middle East and Africa: Market Size, By Service, 2015–2022 (USD Million)
Table 73 Middle East and Africa: Market Size, By System, 2015–2022 (USD Million)
Table 74 Latin America: Traffic Management Market Size, By Type,  2015–2022 (USD Million)
Table 75 Latin America: Market Size, By Software, 2015–2022 (USD Million)
Table 76 Latin America: Market Size, By Smart Surveillance, 2015–2022 (USD Million)
Table 77 Latin America: Market Size, By Video Analytics, 2015–2022 (USD Million)
Table 78 Latin America: Market Size, By Hardware, 2015–2022 (USD Million)
Table 79 Latin America: Market Size, By Sensor, 2015–2022 (USD Million)
Table 80 Latin America: Market Size, By Service, 2015–2022 (USD Million)
Table 81 Latin America: Market Size, By System, 2015–2022 (USD Million)
Table 82 Market Ranking for the Traffic Management Market, 2017
 
 
List of Figures (72 Figures)
 
Figure 1 Global Traffic Management Market: By Solution
Figure 2 Global Traffic Management Market: By System
Figure 3 Regional Scope
Figure 4 Global Traffic Management Market: Research Design
Figure 5 Research Methodology
Figure 6 Data Triangulation
Figure 7 Market Size Estimation Methodology: Bottom-Up Approach
Figure 8 Market Size Estimation Methodology: Top-Down Approach
Figure 9 Microquadrant Matrix: Criteria Weightage
Figure 10 Dynamic Traffic Management System is Estimated to Have the Highest Growth Rate in the Traffic Management Market
Figure 11 Europe is Estimated to Hold the Largest Market Share in 2017
Figure 12 Fastest-Growing Segments of the Traffic Management Market
Figure 13 Emergence of IoT Technology Offers Attractive Market Opportunities
Figure 14 Journey Time Measurement System is Expected to Hold the Largest Market Share in 2017
Figure 15 Hardware Segment is Expected to Hold the Largest Market Share in 2017
Figure 16 Smart Signaling Software is Expected to Hold the Largest Market Share in 2017
Figure 17 Surveillance Cameras Segment is Expected to Hold the Largest Market Share During the Forecast Period
Figure 18 Deployment and Integration Service is Expected to Hold the Largest Market Share During the Forecast Period
Figure 19 Europe is Expected to Hold the Largest Market Share in 2017
Figure 20 The Traffic Management Market has Immense Opportunities for Growth in Asia Pacific
Figure 21 Traffic Management Market: Drivers, Restraints, Opportunities, and Challenges
Figure 22 Traffic Management Solutions
Figure 23 Software Segment is Expected to Hold the Largest  Market Size By 2022
Figure 24 Route Guidance Software is Expected to Hold the Largest Market Size By 2022
Figure 25 Video Analytics Applications in the Traffic Management Market
Figure 26 Surveillance Cameras Hardware is Expected to Hold the Largest Market Size During the Forecast Period
Figure 27 Deployment and Integration Services Segment is Expected to Hold the Largest Market Size During the Forecast Period
Figure 28 JTMS System is Expected to Hold the Largest Market Size During the Forecast Period
Figure 29 Urban Traffic Management and Control System
Figure 30 Adaptive Traffic Control System
Figure 31 Structure of Journey Time Measurement System
Figure 32 Europe is Expected to Hold the Largest Market Size During the Forecast Period
Figure 33 Asia Pacific: Hotspot for Traffic Management Market During the Forecast Period
Figure 34 Europe Market Snapshot
Figure 35 Asia Pacific Market Snapshot
Figure 36 Traffic Management Market (Global) Competitive Leadership  Mapping, 2017
Figure 37 Cisco Systems, Inc.: Company Snapshot
Figure 38 Cisco Systems, Inc.: Strength of Product Portfolio Scorecard
Figure 39 Cisco Systems, Inc.: Business Strategy Excellence Scorecard
Figure 40 Swarco AG: Strength of Product Portfolio Scorecard
Figure 41 Swarco AG: Business Strategy Excellence Scorecard
Figure 42 Siemens AG: Company Snapshot
Figure 43 Siemens AG: Strength of Product Portfolio Scorecard
Figure 44 Siemens AG: Business Strategy Excellence Scorecard
Figure 45 International Business Machines Corporation: Company Snapshot
Figure 46 International Business Machines Corporation: Strength of Product Portfolio Scorecard
Figure 47 International Business Machines Corporation: Business Strategy Excellence Scorecard
Figure 48 Kapsch Trafficcom AG: Company Snapshot
Figure 49 Kapsch Trafficcom AG: Strength of Product Portfolio Scorecard
Figure 50 Kapsch Trafficcom AG: Business Strategy Excellence Scorecard
Figure 51 Q-Free ASA: Company Snapshot
Figure 52 Q-Free ASA: Strength of Product Portfolio Scorecard
Figure 53 Q-Free ASA: Business Strategy Excellence Scorecard
Figure 54 LG CNS Co. Ltd.: Company Snapshot
Figure 55 LG CNS Co. Ltd.: Strength of Product Portfolio Scorecard
Figure 56 LG CNS Co. Ltd.: Business Strategy Excellence Scorecard
Figure 57 Indra Sistemas, S.A.: Company Snapshot
Figure 58 Indra Sistemas, S.A.: Strength of Product Portfolio Scorecard
Figure 59 Indra Sistemas, S.A.: Business Strategy Excellence Scorecard
Figure 60 Metro Infrasys Private Limited: Strength of Product Portfolio Scorecard
Figure 61 Metro Infrasys Private Limited: Business Strategy Excellence Scorecard
Figure 62 Cubic Corporation: Company Snapshot
Figure 63 Cubic Corporation: Strength of Product Portfolio Scorecard
Figure 64 Cubic Corporation: Business Strategy Excellence Scorecard
Figure 65 Accenture PLC: Company Snapshot
Figure 66 Accenture PLC: Strength of Product Portfolio Scorecard
Figure 67 Accenture PLC: Business Strategy Excellence Scorecard
Figure 68 Iteris, Inc.: Company Snapshot
Figure 69 Iteris, Inc.: Strength of Product Portfolio Scorecard
Figure 70 Iteris, Inc.: Business Strategy Excellence Scorecard
Figure 71 Cellint: Strength of Product Portfolio Scorecard
Figure 72 Cellint: Business Strategy Excellence Scorecard

The traffic management market is expected to grow from USD 22.96 Billion in 2017 to USD 59.48 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 21.0%. High demographic growth and hyperurbanization in developing countries, and government initiatives for traffic management under smart cities models are some of the driving factors for this market.

The traffic management market report has been broadly classified on the basis of software into smart signaling, route guidance, traffic analytics, and smart surveillance; on the basis of hardware into display boards, sensors, surveillance cameras, and others (intelligent traffic controller, networking components, and linked traffic controller); on the basis of services into consulting, deployment and integration, and support and maintenance; on the basis of systems 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); and on the basis of regions into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.

The DTMS segment is expected to have the fastest growth rate during the forecast period. There has been an increasing demand for traffic management systems, specifically for the dynamic traffic management that simulates various traffic data gathered by multiple sensors, cameras, and software. In addition, with the growing deployment of traffic management systems among the traffic control and management operators, the demand for DTMS has grown exponentially. This system helps traffic operators to control and manage traffic more dynamically, eliminating any security risk and logistical cost associated with traditional traffic management systems.

Surveillance camera is expected to gain the highest traction in the traffic management market during the forecast period. Surveillance camera is an innovative and extremely useful video surveillance technology in traffic monitoring and control. Further, the cameras record traffic patterns for future studies, observe and monitor traffic flow, and issue tickets in case anybody violates the rule. Traffic cameras are an extremely popular form of video surveillance. Surveillance cameras offer several advantages to the commuters. They provide valuable data of traffic and vehicles, which is maintained by the state departments of transportation.

The deployment and integration services segment is expected to have the largest market share and projected to grow at the highest CAGR during the forecast period. Deployment and integration services help in reducing the deployment and integration time. These services are crucial for developing end-to-end traffic smart signaling, route guidance, traffic analytics, and smart surveillance solutions for the traffic management market.

APAC is the fastest-growing region, in terms of CAGR. Increased urbanization has resulted in traffic congestions. High adoption of solutions to minimize congestions, along with better traffic management and control, has led to a wider demand for traffic management solutions in the APAC region. The adoption of traffic management solutions has increased due to the ongoing and emerging smart cities and smart transportation projects, thus enabling APAC to become a highly potential market.

Lack of standardized and uniform technology is one of the major restraints, whereas high-security risks, reshaping the legacy infrastructure into smart traffic solutions, and data fusion challenges due to multiple sensors and touchpoints in the traffic management system are some of the challenges for the market. Some of the key vendors in the traffic management market are Accenture PLC (Dublin, Ireland), Atkins Group (London, UK), Cellint (Tel Aviv, Israel), Cisco Systems, Inc. (California, US), Citilog (Arcueil, France), Cubic Corporation (California, US), EFKON AG (Raaba, Austria), Esri (California, US), FLIR Systems, Inc. (Oregon, US), IBM Corporation (New York, US), Indra Sistemas, S.A. (Madrid, Spain), Industrial Management Technology & Contracting (IMTAC) LLC (Muscat, Sultanate of Oman), IntelliVision Technologies (California, US), Iteris, Inc. (Delaware, US), Jenoptik AG (Jena, Germany), Kapsch TrafficCom AG (Vienna, Austria), Lanner Electronics Inc. (New Taipei, Taiwan), LG CNS Co. Ltd. (Seoul, South Korea), Metro Infrasys Pvt. Ltd. (New Delhi, India), PTV Planung Transport Verkehr AG (Baden-Württemberg, Germany), Q-Free ASA (Trondheim, Norway), Siemens AG (Munich, Germany), SWARCO AG (Wattens, Austria), TransCore, LP (Pennsylvania, US), and Savari, Inc. (California, US). These players have adopted various strategies, such as new product developments, acquisitions, and partnerships to serve the traffic management market. Continuous technology innovation is an area of focus for these players to maintain its competitive position in the market and promote customer satisfaction.

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