About Traffic Management Systems
Traffic management systems refer to the IT solutions provided by vendors to improve the traffic flow and enhance passenger safety. The traffic management systems consume data from disparate sources such as road sensors, CCTV cameras, and traffic control centers. The systems process these data and generate useful information, which is passed on to end-users such as passengers, traffic control agencies, and police stations. Traditionally, traffic management systems helped to save time and reduce wastage of fuel by reducing traffic congestion. However, with the advances in communication technologies and the internet, the traffic management systems now help users plan their journey in advance and find the shortest route in real-time traffic scenario and provide on demand service during the journey. The traffic management systems aim at making commuting a hassle free and an enjoyable experience.
TechNavio's analysts forecast the Global Traffic Management Systems market to grow at a CAGR of 37.69 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Global Traffic Management Systems market for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of the products and solutions in the Global Traffic Management Systems market. The market is divided into the following segments: Traffic Management Systems, Parking Management Systems, and Other Systems.
Technavio Announces the Publication of its Research Report – Global Traffic Management Systems Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Traffic Management Systems Market 2015-2019: Cellint Traffic Solutions Ltd., IBM Corp., Iteris Inc., Kapsch TrafficCom AG and Swarco AG.
Other Prominent Vendors in the market are: Accenture, Cambridge Systematics, Cubic, Decell Technologies, Siemens, Thales Group and TomTom.
Commenting on the report, an analyst from Technavio’s team said: “Advances in technology have resulted in the increased adoption of handheld devices such as smartphones, tablets, and phablets that come loaded with NFC features. Now users can make cashless payments using handheld devices. There is also a rise in the usage of smart cards for making payments, as it reduces the time spent waiting in parking zones and toll stations. This is a growing trend in emerging countries in APAC and Latin America.”
According to the report, increased demand for real-time information is one of the major drivers of the market. People do not want to spend too much time traveling because of their busy schedules, and rely on a traffic management system that is efficient and capable of providing real-time updates about traffic in their vicinity.
Further, the report states that the slow growth of the infrastructure sector is one of the major challenges faced by the market.
Technavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit- http://www.technavio.com/it-hardware-software-services
ellint Traffic Solutions Ltd., IBM Corp., Iteris Inc., Kapsch TrafficCom AG and Swarco AG., Accenture, Cambridge Systematics, Cubic, Decell Technologies, Siemens, Thales Group and TomTom.
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