The global integrated traffic systems market is anticipated to grow at a CAGR of 8.8% during the forecast period. The integrated traffic system is designed to enable existing roadways to optimize traffic flow. The integrated traffic systems include a traffic data database management system (including details of accidents, road volumes, and signal timing) that links this database to traffic analysis programs. This simplifies data processing within towns, standardizes traffic procedures, and eliminates duplication of computerization efforts. A traffic management system is an IT solution that improves pedestrian safety and protection while facilitating vehicular traffic. The rising traffic jams owing to the increasing number of vehicles, and developments in emergency services and traffic management that empower authorities to speedily respond to accidents and emergencies effectively are the factors that are contributing to the market growth. The usage of integrated traffic systems lessens the travel duration and increases efficiency in traffic management.
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The global integrated traffic systems market is hit by the outbreak of COVID-19 since December 2019. The automotive and transportation industry is the most exposed verticals to the COVID-19 pandemic. Factor such as changes in consumer behavior due to uncertainty surrounds the pandemic has a serious impact on the industry in the near future. In some countries, public transportation projects, such as subway or light rail, are in the pipeline, and due to the ongoing global pandemic, speeding up transit projects is likely to be postponed. Additionally, the COVID-19 pandemic has disrupted the supply chain of raw materials and products demand in the automotive sector and shut down manufacturing units across the globe. The market will witness “V” shape recovery in near future owing to the restart of key industries in major economies.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Integrated Traffic Systems Market Report Segment
By Function
- Traffic Control
- Traffic Monitoring
- Information Provisions
By Hardware
- Display Boards
- Sensors
- Surveillance Cameras
- Radars
- Smart Traffic Lights
- Interface Boards
By Sensors Type
- Infrared Sensors
- Weigh-In-Motion Sensors (Force Sensor)
- Acoustic Sensors
o Road Condition Sensors
o Visibility Sensors
o thermal Mapping Sensors
o Wind Speed Sensors
o Inductive Loop Detectors
Global Integrated Traffic Systems Market Report Segment by Region
North America
- US
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global integrated traffic systems market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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