Traffic Management System Market Current Trends and Forecast by 2026

Traffic management system market is poised to witness an appreciable growth over the upcoming years subject to an increased adoption of the system for controlling the traffic originating from accelerated demographic growth and urbanization. There has been an upsurge in the demand for industry to administer the traffic and ensure safe road transport system.
Industry system allows real-time traffic analysis which enables the authorities to re-route traffic and eliminate traffic jams. Emergence of smart transportation management centre backed by enhanced traffic management systems market help authorities to respond promptly to emergencies. The traffic management system market is estimated to surpass USD 25 billion by 2026.
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In terms of application, adaptive traffic control segment is expected to witness notable growth over the coming years on account of its high usability. This system analyzes the real-time traffic data and provides instant and synchronized responses for altering the predefined duration of signal, thereby resolving the traffic congestion. Based on a study by the Federal Highway Administration (FHWA), adaptive traffic signals improve travel time by approximately 10%. Such technologically advanced traffic management system market offer improved road safety, reduced traffic congestions and minimum greenhouse emissions.
Considering the regional landscape, North America is projected to offer substantial growth opportunities to the traffic management systems market on account of developed technology infrastructure in the region with the U.S. being the earliest adopters of modern technology. During the span of 2012 to 2016, Rapid Flow Technologies deployed its intelligent traffic signal control system - Surtrac at 50 intersections in several areas of Pittsburgh, Pennsylvania. The system enabled the reduction of wait time at intersections by 41%, travel time by 26% and emissions by 21%.
Based on component bifurcation, video analytics software segment will gain a strong market penetration crediting to its utility in traffic management system market. It provides useful insights of everyday traffic and enables mitigation of traffic congestion while transferring the information to the console of traffic management software. Video analytics software can be pre-installed on the central server or integrated into cameras that capture real-time images.
The Prominent Key Players in this market are Accenture PLC, Cisco Systems, Inc., Citilog S.A. (Axis AB), Cubic Corporation, FLIR Systems, Garmin Ltd., IBM Corporation.
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Table of Content
Chapter 6.    Traffic Management System Market, By Deployment Model
6.1.    Key trends, by deployment model
6.2.    On–premise
6.2.1. Market estimates and forecast, 2016 – 2026
6.3.    Cloud
6.3.1. Market estimates and forecast, 2016 – 2026
Chapter 7.   Traffic Management System Market, By Application
7.1.    Key trends, by application
7.2.    Adaptive traffic control system
7.2.1. Market estimates and forecast, 2016 – 2026
7.3.    Dynamic Industry
7.3.1. Market estimates and forecast, 2016 – 2026
7.4.    Incident detection and location system
7.4.1. Market estimates and forecast, 2016 – 2026
7.5.    Journey time measurement system
7.5.1. Market estimates and forecast, 2016 – 2026
7.6.    Predictive time modelling system
7.6.1. Market estimates and forecast, 2016 – 2026
7.7.    Urban traffic management and control system
7.7.1. Market estimates and forecast, 2016 – 2026
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