North America Traffic Management Market By Type (Software - Smart Signaling, Route Guidance, Traffic Analytics, Smart Surveillance; Hardware - Display Boards, Sensors, Surveillance Cameras; Services - Consulting Services, Implementation Services, Support & Maintenance Services), System (Urban Traffic Management & Control, Adaptive Traffic Control System, Journey Time Measurement System, Predictive Traffic Modeling System, Incident Detection & Location System, Dynamic Traffic Management System)
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Market Report Description
The North America traffic management market would witness a Compound Annual Growth Rate (CAGR) of 20.6% during the forecast period (2017-2023). The ever-increasing population has led to the need for effective traffic management systems, with dynamic traffic management as the most preferred choice, as the platform offers the opportunity to simulate variety of traffic data gathered by various sensors, cameras, and software. The growing need to deploy traffic management systems to control traffic has driven the need for DTMS platform. The DTMS platform assists the traffic operators in various ways and helps in controlling and managing traffic more dynamically. The system also eliminates potential security risks and logistical costs associated with traditional traffic management systems. The fast changing regional landscape has led to poorly planned road networks. Due to unplanned road networks, small critical areas become the hot-spots for congestion and ineffective and poor traffic management around these hotspots potentially results in extended traffic jams. Privatizations of highways and road pricing have been some initiatives proposed to reduce congestion. 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 US, Canada, Mexico and Rest of North America. US remained the dominant Country in the North America Traffic Management market in 2016. Canada would witness promising CAGR during the forecast period (2017-2023). 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.