According to a new market report published by Lucintel, the future of the smart traffic management system market looks attractive with opportunities in highway, managed lanes, and others applications. The global smart traffic management system market is expected to reach $16.5 billion by 2025 with a CAGR of 12.1% from 2020 to 2025. The major drivers for this market are favorable government initiatives for developing the traffic infrastructure and emergence of smart cities.
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In this market, various products, such as traffic monitoring system, traffic signal control system, traffic enforcement camera, intelligent driver information system, and integrated corridor management are used in various applications. Lucintel forecasts that traffic monitoring system will remain the largest segment due to its usage in controlling traffic infractions, reducing traffic accidents, and detecting potentially dangerous drivers.
Within the smart traffic management system market, highway will remain the largest application over the forecast period. The growing trend toward the adoption of smart cities is expected to drive the growth prospects for the highway market.
North America will remain the largest region due to increasing adoption of IoT and growing need for real time data among drivers and passengers. APAC region is expected to witness highest growth over the forecast period due to increasing traffic congestions with growth of urbanization.
Emerging trends, which have a direct impact on the dynamics of the industry, include the growth of adaptive traffic control & traffic analytics and emergence of mobility as a service (MaaS). Kapsch, Siemens, Transcore, Delcan, Q-Free, SwRI, Xerox, SICE, Dynniq, and IBI Group are among the major smart traffic management system providers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global smart traffic management system market by product type, application, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Smart Traffic Management System Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global smart traffic management system market by product type, application, and the region as follows:
By Product [$M shipment analysis from 2014 to 2025]:
- Traffic Monitoring System
- Traffic Signal Control System
- Traffic Enforcement Camera
- Intelligent Driver Information System
- Integrated Corridor Management
By Application [$M shipment analysis from 2014 to 2025]:
- Managed Lanes
By Region [$M shipment analysis for 2014 to 2025]:
- North America
- United States
- United Kingdom
- Asia Pacific
- The Rest of the World
This 160-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/smart-traffic-management-system-market.aspx or firstname.lastname@example.org.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global smart traffic management system by product (traffic monitoring system, traffic signal control system, traffic enforcement camera, intelligent driver information system, and integrated corridor management), by applications (Highway, Managed Lanes, and Others), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?
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