The global Route Guidance & Traffic Management Software market is anticipated to grow at a CAGR of 10.5% during the forecast period. The adoption of route optimization and traffic management systems in the transportation sector to curb the traffic conjunction and to create an efficient transport plan using app and software to cut costs, save time, and utilize sources to drivethe market growth. Route optimization and traffic management systems and software offer numerous advantages such as identification of the most effective routes leads lower costand increases customer satisfaction.These advantages offered by the system increase their adoption. Moreover, the advancements in traffic management systems and technologies lead to market growth. The real-time traffic management and route guidance systems: the major advancement in traffic management aids in handling billions of GPS data points feed on incidents sources and vehicle sensor data from millions of cars. The real-time traffic management and route guidance systems make effective use of the camera and sensors to deduct the real-time traffic and gives its action immediately to reduce the traffic as much as possible. This method is the achievement of the AI system. The US is among the earliest adopters of advanced technologies. Surtrac, an intelligent traffic signal control system developed by Rapid Flow Technology has been deployed at 50 intersections across several areas in Pittsburgh, Pennsylvania. The system helped to reduce travel time by 26.0%, wait time at intersections by 41.0%, and emissions by 21.0%.
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The development of traffic management systems by major market players is likely to boost the market growth. For instance, in October 2020, FUSION, a real-time traffic management system developed by Siemens Mobility in collaboration with Transport for London (TfL) and supported by the University of Southampton, provides a new mapping roadacross the city by optimizing signalized junctions and pedestrian crossings based on all road users’ needs. In July 2020, Econolite has launched a new, highly flexible cloud-based platformCentracs Mobility, to augment traffic management toolsets with actionable information.
Global Route Guidance & Traffic Management Software Market Report Segment
By Deployment
- On-premises
- Cloud-based
By Application
- On-demand Food Delivery
- Retail & FMCG
- Field Services
- Others
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Route Guidance & Traffic Management Software Market Report Segment by Region
North America
- United States
- 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
Company Profiles
- The Atkins Group
- AMCS Group
- Caliper Corp.
- Cisco Systems, Inc.
- The Descartes Systems Group Inc.
- Esri Global Inc.
- FLS GmbH
- FLIR Systems, Inc.
- GEOCONCEPT SAS
- Impactit GmbH
- IBM Corp.
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