Dublin, Feb. 27, 2019 (GLOBE NEWSWIRE) -- The "Traffic Management Market by Solution (Smart Signaling, Route Guidance and Optimization, Traffic Analytics, and Smart Surveillance), Hardware (Display Boards, Sensors, and Surveillance Cameras), Service, System, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The traffic management market is expected to grow from USD 26.7 billion in 2018 to USD 50.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 13.7%.

Transport is a significant component of the modern economy; transportation accounts for 6-12% of the GDP in many developed countries. Though transportation has greatly improved our lives, quite a few problems remain unsolved, including traffic, road accidents, congestions, and vehicle emissions. According to the European Commission, the European Union (EU) loses 1% of its GDP every year, due to congestion around urban areas. The urban sector faces a tough traffic management challenge that needs to be addressed.

According to the Auto Insurance Center, an American driver spends an average of 42 hours per year stuck in traffic jams, costing USD 960 individually. Traffic jams result in 19 gallons of excess fuel per commuter each year. In Europe, the traffic congestion cost was more than USD 48.50 billion in 2017. The increasing traffic congestion yearly has caused an increase in air pollution, waste of time and productivity, and various respiratory diseases. Furthermore, the cost of resolving traffic congestion is enormous, and neglecting the traffic jam problems is increasing the social problems among citizens.

Traffic management is the process of prioritizing, shaping, and routing traffic to ensure that critical transport services remain available. Traffic management provides guidance to the commuters and haulers about road congestion and suggests the best possible route. This involves the use of ICT to control and manage the flow of road traffic, intersection control, and ramp metering; enforce speed limits; detect incidents and emergencies; and implement response strategies to ensure safe and efficient use of the road network by optimizing the existing infrastructure. Traffic management integrates and coordinates the flow of traffic in various regions for the ease of commuters, i.e., vehicles as well as pedestrians.

It helps in developing better transportation as well as transport infrastructure. It reduces traffic congestions and promotes a regulated flow of traffic. It is also an economic and fuel-efficient solution. It helps reduce carbon emissions from vehicular traffic and thus provides an environment-friendly traffic solution.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Traffic Management Market
4.2 Market, By Component, 2018-2023
4.3 Market, By Solution, 2018-2023
4.4 Market, By Hardware, 2018-2023
4.5 Market, By Service, 2018-2023
4.6 Market, By System, 2018-2023
4.7 Market, Market Share Across Countries, 2018
4.8 Market Investment Scenario

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Urban Population and High Demographic Rates
5.2.1.2 Government Initiatives for Traffic Management and the PPP Working Model
5.2.1.3 Rising Need for Real-Time Information Systems
5.2.1.4 Regulatory Frameworks and Government Policies to Reduce Carbon Emissions
5.2.2 Restraints
5.2.2.1 Lack of Standardized and Uniform Technologies
5.2.2.2 Recovering Roi From Legacy Systems
5.2.3 Opportunities
5.2.3.1 Emergence of IoT and Sensor Technologies in Traffic Management
5.2.3.2 Penetration of Analytics in Traffic Management Network Systems
5.2.4 Challenges
5.2.4.1 Multiple Sensors and Touchpoints Pose Data Fusion Challenges
5.2.4.2 Security Threats and Hackers Challenge the Growth of the Market
5.2.4.3 Low Penetration of DSRC Protocol
5.3 Traffic Management Projects
5.3.1 Smart City Bhubaneswar, India
5.3.2 Cavite-Laguna Expressway (Calax), Philippines
5.3.3 Sheikh Jaber Al-Ahmed Al-Sabah Causeway, Kuwait
5.3.4 Vilnius Traffic Management System, Lithuania
5.3.5 Thompsons Roadways Project, Melbourne, Australia
5.3.6 Elizabeth River Tunnels Project, United States
5.3.7 Inuvik to Tuktoyaktuk Highway Projects, Canada
5.3.8 Cost Road Junction Upgrade, United Kingdom
5.3.9 Smart City Kochi, India
5.4 Ecosystem
5.5 Case Studies
5.6 Global Traffic Index

6 Traffic Management Market, By Component
6.1 Introduction

7 Market, By Solution
7.1 Introduction
7.2 Smart Signaling
7.2.1 The Increasing Need to Proactively Redirect and Regulate Traffic Driving the Demand for Smart Signaling
7.3 Route Guidance and Optimization
7.3.1 The Need to Optimize Existing Road Infrastructure to Drive the Demand for Route Guidance and Optimization
7.4 Traffic Analytics
7.4.1 Need for Collecting, Processing, Integrating, and Presenting Reliable Traffic Flow Data to Ease Traffic Congestions and Reduce Negative Environmental Impacts on Transportation to Drive the Demand for Traffic Analytics
7.5 Smart Surveillance
7.5.1 Video Management Software
7.5.1.1 Video Management Offers High-Definition Clarity and Better Quality Video, and Reduces Theft and Damage to Any Application
7.5.2 Video Analytics
7.5.2.1 Demand for Actionable Insights From Video Data
7.5.3 Video Analytics By Applications
7.5.3.1 Automatic Number Plate Recognition
7.5.3.1.1 Traffic Police to Use the ANPR Technology Extensively to Detect Vehicles That Break Rules
7.5.3.2 Facial Recognition
7.5.3.2.1 Governments Focus the Safety and Security of Citizens to Drive the Demand for Facial Recognition
7.5.3.3 Pedestrian Detection
7.5.3.3.1 Need for Pedestrian Detection Applications in Intelligent Video Surveillance Systems
7.5.3.4 Incident Detection
7.5.3.4.1 Need to Detect Incidents and Continuously Collect Traffic Data in Real Time

8 Market, By Hardware
8.1 Introduction
8.2 Display Boards
8.2.1 Increasing Need to Help Drivers in Receiving Updated Traffic Information to Drive the Deployment of Display Boards
8.3 Sensors
8.3.1 Vehicle Detection Sensors
8.3.1.1 Need for Vehicle Detection Sensors to Reduce Waiting Time at Traffic Signals
8.3.2 Pedestrian Presence Sensors
8.3.2.1 Growing Need to Improve Safety and Efficiency at Pedestrian Crossings
8.3.3 Speed Sensors
8.3.3.1 Need for Speed Sensors on Highways to Avoid Accidents
8.4 Surveillance Cameras
8.4.1 Demand for Real-Time Monitoring of Traffic Flow to Drive the Installation of Surveillance Cameras
8.5 Others

9 Traffic Management Market, By Service
9.1 Introduction
9.2 Consulting
9.2.1 Need for Consulting Services to Efficiently Plan, Design, and Deploy Traffic Management Solutions
9.3 Deployment and Integration
9.3.1 Deployment and Integration Services to Ease the Complexities in Deploying Various Solutions in It Infrastructures
9.4 Support and Maintenance
9.4.1 Need for 24*7 Traffic Monitoring and Troubleshooting Assistance to Fuel the Adoption of Support and Maintenance Services

10 Market, By System
10.1 Introduction
10.2 Urban Traffic Management and Control
10.2.1 UTMC Aims to Transform Next-Generation Traffic Systems
10.3 Adaptive Traffic Control System
10.3.1 Benefit of Relieving Urban Traffic Congestion Fuels the Adoption of Adaptive Traffic Control Systems
10.4 Journey Time Measurement System
10.4.1 The Need to Understand How A Country's Road Network Operates
10.5 Predictive Traffic Modeling System
10.5.1 Need to Predict Future Traffic Congestion in A Region to Drive the Demand for Predictive Traffic Modeling System
10.6 Incident Detection and Location System
10.6.1 Need to Improve the Efficiency and Reduce the Work Intensity of Highway Management Department to Drive the Adoption of Incident Detection and Location System
10.7 Dynamic Traffic Management System
10.7.1 Benefit of Reducing Fuel Consumption and Getting Away With Negative Environmental Impacts to Drive the Demand for Dynamic Traffic Management System

11 Market, By Region

12 Competitive Landscape
12.1 Competitive Leadership Mapping
12.1.1 Visionary Leaders
12.1.2 Innovators
12.1.3 Dynamic Differentiators
12.1.4 Emerging Companies
12.2 Strength of Product Portfolio (27 Players)
12.3 Business Strategy Excellence (27 Players)
12.4 Ranking of Key Players for the Traffic Management Market, 2018

13 Company Profiles

• Accenture
• Atkins
• Cellint
• Cisco
• Citilog
• Cubic
• Efkon
• ESRI
• Flir
• Garmin
• GTT
• IBM
• Imtac
• Indra Sistemas
• Intelvision Technologies
• Iteris
• Jenoptik
• Kapsch Trafficcom
• Lanner Electronics
• LG CNS
• Metro Infrasys
• PTV Group
• Q-Free
• Savari
• Siemens
• Swarco
• Transcore

For more information about this report visit https://www.researchandmarkets.com/research/tzn37s/traffic?w=12

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: ResearchAndMarkets.com
         Laura Wood, Senior Press Manager
         press@researchandmarkets.com
         For E.S.T Office Hours Call 1-917-300-0470
         For U.S./CAN Toll Free Call 1-800-526-8630
         For GMT Office Hours Call +353-1-416-8900
Related Topics: Automotive

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.