SecurityWorldMarket

25/02/2020

Traffic management driven by increased congestion

Northbrook, Il (USA)

The latest information from Marketsandmarkets shows that the traffic management market is expected to grow from USD 30.6 billion in 2019 to USD 57.9 billion by 2024, at a CAGR of 13.6% during the forecast period.

Driving factors of the traffic management market include the rising urban population and high demographic rates, government initiatives for traffic management and the Public Private Partnership (PPP) working model, growing need for real-time information systems, and regulatory frameworks and government policies to reduce the growing carbon emissions. The opportunities in the traffic management market include the emergence of Internet of Things (IoT) and sensor technologies in traffic management and penetration of analytics in traffic management network systems.

The smart signaling software collects event-based, high-resolution traffic data simultaneously from various connections placed on signals, and produces real-time signal performance measures, including probable travel time and intersection delay. This data could then be analysed to provide simultaneous performance measures, overall travel time, and traffic congestion rates. The information is used to predict and respond to traffic demands and conditions with optimal signal timings, thus improving the traffic flow on roads. Smart signaling significantly can also help reduce the cost of network monitoring and increase the control and flexibility of traffic. The smart signaling software empowers traffic managers to optimize the existing road capacities, based on which they can take measures to reduce traffic congestions.

Journey time measurement systems a growth market

Journey Time Measurement Systems(JTMS) identify vehicles at two or more points in a road network and calculates the journey time for each defined segment. JTMS are coupled with Automatic Number Plate Recogjnition (ANPR) systems or capture points to find the journey time of a vehicle. ANPR cameras or automatic vehicle identifiers are connected to local processors, which are then connected to the JTMS server. JTMS is mainly used to study the traffic of a region, find congested routes, and prepare a design of road network improvements. If JTMS is integrated with a variable message board alongside a roadway, the traffic situation on the route ahead can be displayed to the driver. This can help lower the congestion by alerting drivers about possible delays. JTMS is an important tool for drivers and traffic managers to provide insights into the current and future road activities. It displays real-time journey time intelligence that can be fed directly to road users via display boards, such as variable message signs, websites, and mobile apps. 

Europe accounts for highest market share 

Europe accounts for the highest market share in the traffic management market. The European market has diverse business needs, and similar to North America, enterprises in this region have strong technical expertise and bigger IT budgets. In addition, there are many traffic management vendors in this region. Europe is the largest regional market in terms of revenue, and the UK is the most developed economy, contributing significantly to the growth of the traffic management market. Europe has a very conducive environment for the implementation of traffic management systems, as the government has planned investments to improve public transportation modes in this region.  Traffic management projects that are currently underway in the region include Amsterdam Smart City, Amsterdam; Vilnius Traffic Management System, Lithuania; and Athens Traffic Management System, Greece.

Some of the major traffic management market vendors cited by the market research companies include, Accenture, Cellint, Cisco, Citiloq, Cubic, Efkon, Esri, Flir, Garmin, IBM Indra, Imtac, Intellivision, Iteris, Global traffic Technologies, Siemens, Transcore, Savari, Dahua Technology, Huawei, Rapid Flow Technologies, Advance Access, Advantech and, Redflex, to name just a few.


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