The Global Smart Traffic Management Systems Market is estimated to be valued over USD 7.6 Bn in 2018

Global Smart Traffic Management Systems Market Size Analysis

The Global Smart Traffic Management Systems Market Size is estimated to be valued over USD 7.6 billion in 2018 and will register a CAGR of 21% to create high revenue opportunity for industry players during the forecast period (2018-2028).

Global Smart Traffic Management Systems Market Drivers and Challenges

Automation is playing a key role across wide range of industry verticals including traffic management. In recent years, higher vehicles sales has led to higher road density – resulting in traffic congestions. Each year, over 80 million vehicles are introduced on road. Narrower road has been a cause of concern in developing regions of Asia Pacific and Latin America. As a result government is emphasizing on road connectivity and reduce the backlogs. Introduction of smart traffic management systems is expected to play a crucial role in overall development of road safety.

Installation of such devices has heighted to a new level in North America and Western Europe. AS per the estimates, penetration level of STMS in developed region is 8X higher compared to developing regions. Changing macroeconomic scenario in developing regions will further fuel the overall sales of STMS. China and India are expected to play a key role in overall deployment of such systems.

Introduction of smart traffic management systems is a cost effective measure wherein maintenance cost is very low. AS such, it plays a crucial role in overall development of smart cities. As per the estimates, there will be atleast on STMS on 5 Km2 road by 2028. Well-developed strategy could help companies to strengthen their market presence and generate high ROI.

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Smart Traffic Management Systems Market Size| 7 Key Insights from Global Report

The Global Smart Traffic Management Systems Market Size is estimated to be valued over USD 7.6…

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Global Smart Traffic Management Systems Market Analysis, By System

By system, urban traffic management and control system will dominate the overall sales in 2018. By 2020, UTMC, maintenance traffic systems and and traffic data management systems will account for over 46% of overall sales.

Global Smart Traffic Management Systems Market Analysis, By Detection Capabilities

By detection capabilities, CCTV based STMS will gain highest penetration creating higher incremental opportunity for industry players.

Global Smart Traffic Management Systems Market Analysis, By Ownership Model

Based on ownership model, the smart traffic management systems market size is segmented into government based, private based entities, and government –private joint model. Government based ownership dominated the overall sales. As per the estimates, government based ownership accounted for over 86% in 2017. This will lose market share to private entities by 2028.

Global Smart Traffic Management Systems Market Analysis, By Deployment

Based on deployment, highways and local streets will dominate the global traffic management systems market in 2018. AS per the estimates, highways and local streets collectively accounted for over 69% of total deployment in 2017. It is expected that freeways and expressways will gain significant traction in overall deployment by 2028.

Global Smart Traffic Management Systems Market Size and Forecast: Regional Analysis

In 2017, North America and Western Europe collectively accounted for over 77% of global traffic management systems market valuation. Well-connected roads and better connectivity has led to the regions dominate the overall sales. There will be high adoption of STMS in these regions in between 2018 and 2022.

Asia Pacific will gain significant traction with higher spending on smart cities project. Recently, Government of India announced US$ 2 Trillion investment in smart cities project. Such projects will create favorable market opportunity for industry players. It is expected that region will gain over 15% market share between 2016 and 2028.

Global Smart Traffic Management Systems Market Size and Forecast: Competition Landscape

Some of the key global Smart Traffic Management Systems market players are GE Transportation, Hisense TransTech, Peek traffic, IBM Corporation, Kapsch TrafficCom, Kyosan Electric, Imtech, Cubic, Q-Free, Siemens AG, Baokang Electronic, SWARCO, and Wantong Technology.

Smart Traffic Management Systems Market Industry Segmentation

By System:

• Traffic Data Management System (TDMS)
• Incident Detection and Location System (IDLS)
• Adaptive Traffic Control System (ATCS)
• Urban Traffic Management and Control (UTMC) System
• Journey Time Measurement System (JTMS)
• Predictive Traffic Modeling System (PTMS)
• Dynamic Traffic Management System (DTMS)
• Intermodal Transportation Planning System (ITPS)
• Route Guidance System
• Maintenance Tracking System (MTS)
• Traffic Management Training System (TMTS)

By Detection Capabilities:

• Vehicle DetectionCCTVSmart SensorsOthers
• Loop Detections

By Vehicle Type:

• Heavy Duty Vehicles
• Light Weight VehiclesMid-LevelPremiumLuxurySportsSUV

By Ownership Model:

• Government
• Private
• Partnership Model

By Deployment:

• Expressways
• Highways
• Freeways
• Local Streets

What Will You Discover in the Report?

• An in-depth analysis of the Smart Traffic Management Systems market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
• How the Smart Traffic Management Systems market sales is expected to grow throughout the forecast period.
• How geopolitical policies and technological changes will affect the Smart Traffic Management Systems market in near future
• Where the stakeholders should invest to generate higher profit margins
• How consumers (end-users) will reflect to the Smart Traffic Management Systems industry during the forecast period
• Who are the Smart Traffic Management Systems industry leaders and what are the key initiatives taken by them for long term growth

Who will benefit from the Report?

• Smart Traffic Management Systems Industry Suppliers
• Smart Traffic Management Systems Industry Manufacturers
• Consultants and Analysts
• Researchers
• Industry Specialists

Analyst access with Bekryl Market Analysts

Purchasing of Smart Traffic Management Systems market research report will give clients access to 120 minutes telephonic access with a research analyst. The duration for access to analysts will be based on the report subscription editions.

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