The global smart traffic management system market is projected to reach $13.2 billion by 2025, at a CAGR of 8.2% during 2020-2025. The growth of Smart traffic management system market is driven by favorable government initiatives for developing the traffic infrastructure and emergence of smart cities.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the smart traffic management
system market 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 What are the
business risks and threats to the smart traffic management system market?
Q.4 What are some
changing demands of customers in the smart traffic management system market?
Q.5 What are the new
developments in the smart traffic management system market? Which companies are
leading these developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this smart traffic management system area
and how big of a threat do they pose for loss of market share via product
substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this smart traffic management
system market?
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).
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Market Segmentation:
Based on product, the
smart traffic management system market is segmented into traffic monitoring
system, traffic signal control system, traffic enforcement camera, intelligent
driver information system, and integrated corridor management. The traffic monitoring
system segment accounted for the largest share of the market in 2020 due to its
usage in controlling traffic infractions, reducing traffic accidents, and
detecting potentially dangerous drivers.
North America is
expected to be the largest region over the forecast period 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.
Key Players in the smart
traffic management system market are Kapsch, Siemens, Transcore, Delcan,
Q-Free, SwRI, Xerox, SICE, Dynniq, and IBI Group and others.
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The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
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About
Lucintel
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.
Brandon
Fitzgerald
Lucintel
Dallas,
Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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