The global traffic management market is expected to grow at a CAGR of nearly 11.5% during the forecast period (2021-2027). The major factors driving the growth of the global traffic management market include the increasing number of vehicles and road traffic injuries globally. According the World Health Organization (WHO), around 1.3 million individuals die every year due to road traffic accidents with 20 to 50 million non-fatal injuries. Additionally, the adoption of advanced technologies in vehicles and smart vehicles will propel the growth of the market.
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Traffic management is a vital area of logistics that includes controlling services, traffic planning, and the procurement of transportation services. Accidents have increased significantly in recent years, and the traffic management market has played an essential role in minimizing the rising number of incidents. The traffic management market is always changing and growing, and it is currently in that development phase when many discoveries and advancements are constantly taking place. Further advancements in new traffic management systems will drive the replacement of traditional traffic management approaches.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Traffic Management Market- Segmentation
By Component
- Hardware
o Display Boards
? Multifunctional Boards
? Vehicle Detection Boards
? Communication Boards
o Sensors
? Vehicle Detection Sensors
? Pedestrian Presence Sensors
? Speed Sensors
o Surveillance Cameras
? Internet Protocol Cameras
? Analog Cameras
o Others
- Solution
o Smart Signaling
o Route Guidance and Route Optimization
o Traffic Analytics
o Smart Surveillance
? Video Management Software
? Video Analytics
? Automatic Number Plate Recognition
? Facial Recognition
? Incident Detection
- Services
o Consulting
o Implementation
o Support and Maintenance
By System
- Urban Traffic Management and Control
- Adaptive Traffic Control System
- Journey Time Management System
- Predictive Traffic Modelling System
- Incident Detection and Location System
- Dynamic Traffic Management System
Global Traffic Management Market – Segmentation by region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
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