Global Traffic Management Market By Transportation Mode (Roadways, Railways and Airways), By System Type (DTMS, UTMCS, ATCS, IDLS, JTMS, PTMS, etc.), By Region, Competition Forecast and Opportunities, 2011-2021
Increasing sales of passenger cars and commercial vehicles, rising road accidents, growing number of travellers, booming tourism industry, emergence of low-cost airline carriers, and surging demand for new airplanes are among the major factors driving global traffic management market. Further, growing trend of intermodal traffic management systems, rising demand for commercial drones, growing need for Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) communication and rising demand for advanced parking management is projected to propel growth in global traffic management market in the coming years. Implementation of data analytics tools for real-time traffic management, and route guidance, journey time measurement, etc., by passengers on smartphones and other mobile devices are emerging as the key application areas where traffic management technology is being increasingly used.
According to “Global Traffic Management Market By Transportation Mode, By System Type, By Region, Competition Forecast and Opportunities, 2011-2021”, global traffic management market is projected to surpass US $ 22 billion by 2021. In 2015, North America was the leading regional market for traffic management due to implementation of stringent government initiatives supporting use of Intelligent Transportation System (ITS), growing need to reduce traffic congestion and accidents, coupled with increasing utilization of traffic data for traffic control in real-time. On account of rising population, growing demand for public transit vehicles, surging automobile sales, and rising demand for air travel, Asia-Pacific is expected to witness fastest growth in its traffic management market during the forecast period. “Global Traffic Management Market By Transportation Mode, By System Type, By Region, Competition Forecast and Opportunities, 2011-2021” discusses the following aspects of the global market for traffic management: