Intelligent Traffic Management System Market: Intense Need to Reshape Transportation Networks Impact Growth
June 19, 2019 by Steve Blade
According to the findings from the study, growth of the intelligent traffic management systems market continues to gain traction, facilitating an integrated control on urban traffic. By the end of 2026, integrated urban traffic control systems worth over US$ 7.1 Bn will be sold across the globe. Meanwhile, increasing presence of expressways to bolster interstate transportation is anticipated to propel the growth of the intelligent traffic management systems. In 2017, sales of freeway management systems is likely to account for over 10% revenues of the intelligent traffic management systems market. Electronic toll collection systems, on the other hand, will register a greater revenue share of the intelligent traffic management systems market, and will be widely adopted in North America.
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Incorporation of Cutting-edge Technologies in Transport Networks to Underpin Future of the Market
Several countries are focusing on efficient monitoring of traffic movements with the implementation of advanced technologies that provide quick reactive measures and reduce the effects of unavoidable disaster. This is one the latest trends prevailing in the intelligent traffic management systems market.
Emergence of connected vehicles which require seamless communication platforms may influence the adoption of intelligent traffic management systems for proper functioning and subsequently guide the future expansion of the market.
Browse Full report with TOC:
1. Global Intelligent Traffic Management Systems Market - Executive Summary
2. Global Intelligent Traffic Management Systems Market Overview
3. Global Intelligent Traffic Management Systems Market Analysis and Forecast, 2012-2026
Growth Driving Factors of Intelligent Traffic Management Systems Market?
Companies namely Q-Free, Cubic, Siemens, Kapsch TrafficCom, SWARCO, Imtech, Kyosan Electric, Peek Traffic, Hisense TransTech, Baokang Electronic, and Wantong Technology actively participate in the intelligent traffic management systems market. A majority of intelligent traffic management systems market players will be focusing on increasing the data volume capacities and analysis algorithms. Some intelligent traffic management systems market participants are also expected to integrate advanced analytics like big data for improving examination of vehicles in the event of accidents and hit & runs.
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