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Europe is the dominant region and holds the largest market share within the global traffic management market. European region has most positively responded to the call for better traffic management and has been successful in implementing smart signaling and route guidance software. Significant investment in the smart transportation and smart cities projects and pressing need for superior traffic management and control systems has been the factors that drove the region to incorporate the traffic management system.
The traffic management market is segmented based on Solutions (software hardware and Services), Systems and Countries. Based on software, the market is segmented into smart signaling, route guidance, traffic analytics, and smart surveillance. Based on hardware, the market is segmented into display boards, sensors, surveillance cameras, and others (intelligent traffic controller, networking components, and linked traffic controller). Based on services, the market is segmented into consulting, deployment and integration, and support and maintenance.
The traffic management software segment would be the most potential market, and would hold the largest market share. The rapid growth in the urban population has led to traffic congestions, demanding better traffic management systems. The traffic management software allows live streamlining of traffic information which can be later used for predictive analytics and define traffic management rules.
Based on the systems, 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). Based on Country, Traffic Management market is segmented into Germany, UK, France, Russia, Spain, Italy and Rest of Europe.
The report covers the analysis of key stake holders of the Traffic Management market. Key companies profiled in the report include International Business Machines Corporation (IBM), Cisco System, Inc., LG Corporation (LG CNS Co. Ltd.), Swarco AG, Siemens AG, Kapsch (Kapsch Trafficcom AG), Q-Free ASA, and Accenture Plc.