Traffic Management Market Projections and Future Opportunities

Traffic Pollution Linked to Low Birth Weight of Infants

Traffic management is a system that providing traffic management solutions that improve traffic flow and safety of road users. It also advices the command control and signaling system which receives the information about the current traffic and the disturbances in the surrounding. Traffic management system includes pedestrian access, lane and sidewalk closures, traffic plans, services, and others.

Increasing urbanization and growing public concerns for the safety are major factors driving the growth of the global traffic management system market

Increasing urbanization results in the rise of traffic density levels, making traveling troublesome for common folk. For instance, according to the Global Health Observatory (GHO), the urban population in 2014 accounted for 54% of the total global population, and continues to grow. Over half of the population in the world is staying in urban areas, which increases overcrowding in small areas. More people leads to more usage of vehicles triggering traffic congestion. Hence, traffic management system is the major need to control the traffic problems such as traffic congestions and others will positively impact the growth of traffic management market.

Request Sample Copy of this Research Report @ https://www.coherentmarketinsights.com/insight/request-sample/1409 

Rising concerns for the safety regarding the road traffic accidents leading to injuries and deaths is another factor fueling growth of the market. These are the major factors that are expected to influence the growth of this market during the forecast period. For instance, according to World Health Organization (WHO), an estimated 1.25 million road accidents occurred globally in 2013, among them around 93% road traffic death occurs in low and middle income economies and over 50 million people are injured by road accidents. Therefore, people are increasingly concerned and cautious regarding the safety aspect, which tends to increase in the growth of traffic management system market.

However, High initial installation cost for traffic management systems which includes CCTV cameras among others are hampering the growth of the market.

Global Traffic Management System Market: Regional Insights

North America accounted for the largest share in the global traffic management market in 2016. U.S. is the major growth engine in North America market. This is owing to increasing initiatives from the U.S. government towards improvement of traffic management facilities and implementation of intelligent transportation systems (ITS). For instance, the America’s Surface Transportation Act or “FAST Act” was passed in 2015, in order to solve congestion issues regarding the traffic management, and enhance the transportation within the country.

 

Asia Pacific market is expected to exhibit highest CAGR over the forecast period and this is due to increasing urbanization and growing initiatives for better traffic management in the developing countries such as India and China. For instance, in 2015 Government of India launched “100 Smart Cities Mission” with project investments of US$ 30.02 billion which includes the technologies such as CCTV cameras, ITS (Intelligent transportation System) and others, which is expected to positively influence the growth of regional traffic management system market.

Request For Customization As per Your Need @ https://www.coherentmarketinsights.com/insight/request-customization/1409

Global Traffic Management System Market: Competitive Background

The key players in the global traffic management market include Accenture PLC, Atkins Group, Affiliated Computer Services, Inc., Alstom SA, Cisco Systems, Inc., Cubic Corporation, ESRI, GE Transportation, IBM, Indra, Ineo, Kapsch, LG CNS, and Schneider Electric.

You may be interested

Increasing Prevalence Of Diabetes And Rising Geriatric Population Will Drive The Overall Disposable Insulin Pen Market
Healthcare
Healthcare

Increasing Prevalence Of Diabetes And Rising Geriatric Population Will Drive The Overall Disposable Insulin Pen Market

Mohit Joshi - October 17, 2018

The Disposable Insulin Pen Market is expected to have a highly positive growth outlook from 2018-2026 according to a recently released research report. The report has been…

Medical Electrodes Market Is Expected To Record Highest Growth Rate Due To Increasing Prevalence Of Cardiology And Neurological Diseases
Healthcare
Healthcare

Medical Electrodes Market Is Expected To Record Highest Growth Rate Due To Increasing Prevalence Of Cardiology And Neurological Diseases

Mohit Joshi - October 17, 2018

The Medical Electrodes Market is expected to have a highly positive growth outlook from 2018-2026 according to a recently released research report. The report has been added…

Extracorporeal Shock Wave Lithotripsy Market Is Being Fuelled By Rise In Incidence Of Kidney Stones
Healthcare
Healthcare

Extracorporeal Shock Wave Lithotripsy Market Is Being Fuelled By Rise In Incidence Of Kidney Stones

Mohit Joshi - October 17, 2018

The Extracorporeal Shock Wave Lithotripsy Market is expected to have a highly positive growth outlook from 2018-2026 according to a recently released research report. The report has…

Most from this category