The global integrated traffic systems market is projected to grow from USD 22.7 billion in 2019 to USD 37.5 billion by 2025, at a CAGR of 8.7%. Increase in rate of urbanization and growing demand to lower the emissions caused by road traffic are driving the demand for integrated traffic systems.
Some of the key players in the integrated traffic systems market are Sumitomo (Japan), Cisco (US), Swarco (Austria), Siemens (Germany), Kapsch TrafficCom (Austria), LG CNS (Korea), Cubic (US), Iteris (US), Jenoptik (Germany), and Flir (US). New product developments, expansions, collaborations, and supply contracts are the key strategies adopted by these players to gain traction in the integrated traffic systems market.
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Swarco is one of the leading players in the integrated traffic systems market. The company adopted strategies such as supply contract to strengthen its position in the market. For instance, in December 2018, McCain Inc., the subsidiary of the SWARCO Group and a leader in supply of advanced intelligent transportation solutions, won a major 3-year contract with the City and County of San Francisco to upgrade traffic control cabinets throughout the city with new Advanced Transportation Controller (ATC) cabinets. In April 2018, SWARCO acquired the majority shareholding in Bergauer, which develops and integrates intelligent traffic guidance and control systems, as well as customer-specific guidance systems for infrastructure and security projects to provide better service to customers. In January 2016, SWARCO acquired McCain, a US-based company, which offers traffic management products. With this acquisition, SWARCO was able to position itself as a leading traffic management solutions provider.
Kapsch (Austria) adopted the strategy of supply contracts to strengthen its market position. In February 2017, Kapsch TrafficCom obtained a 4-year contract to design and install an agency-wide transportation management software by the Port Authority of New York and New Jersey. In June 2016, Kapsch TrafficCom received contracts to upgrade and modernize the integrated transportation management system at the Highway Operations Center (HOC) of the Massachusetts Department of Transportation (MassDOT). This contract helped the company expand its footprint in the US.
Integrated Traffic Systems Market by Function (traffic monitoring, traffic control, information Provision), Sensors, Hardware Type (display boards, sensors, radars, interface boards, surveillance cameras), and Region – Global Forecast to 2025
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