The Traffic Management Market was valued at US$ 39.11 Bn. in 2022 and expected to grow at a CAGR of 10.8% during the forecast period 2023-2029, thanks to the growing trend of software based system use, which has boosted demand for Aircraft engines.
Traffic Management Market Overview:
The Traffic Management market study gives a comprehensive view of the competition, including the market share and company profiles of the major global competitors. The scope of the research includes a full examination of the Traffic Management Market, as well as the reasons for variations in the industry’s growth between regions.
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Market Scope:
Following the completion of market engineering, which included market statistics computations, market size estimations, market forecasts, market breakdown, and data triangulation, extensive primary research was done to gather information and verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up tactics, as well as different data triangulation procedures, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all data obtained during the market engineering process in order to provide essential information throughout the report.
Dynamics:
Increased urbanization, a growing global population, safety concerns, and the need to better monitor and prevent traffic accidents are all factors contributing to the growth of the traffic management industry. India has a fatality rate from traffic accidents of 17.4 deaths per 100,000 people. It contributes to shorter travel times, real-time data updates, the improvement of transportation infrastructure, and the emergence of smart cities. For example, the “Government of India” released its smart city mission on June 25, 2015, which included “SMART MOBILITY” as a domain, rapidly expanding the industry.
Segmentation:
by Component Type
Hardware
Software
by Applicaton
Urban Traffic Management System
Journey Time Management System
Location and Incident detention System
by Service
Integration
Management and Support
Key Players:
Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers’ annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data.
The biggest players in the Traffic Management market are as follows:
1.Cisco Systems, Inc
2.Siemens AG
3.Thales Group
4.Planung Transport Verkehr Group
5.Cubic Corporation
6.Chevron Corporation
7.INRIX, Inc
8.Sensys Networks, Inc
9.BlueSignal Inc
10.Bercman Techonologies AS
11.SWARCO AG
12.International Business Machines Corporation
13.Kapsch TrafficCom AG
14.Thales Group
15.Q-Free A.S.A.
16.Planung Transport Verkehr Group
17.FLIR Systems, Inc.
18.Cubic Corporation
19.TOMTOM N.V.
20.IBM Corporation
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Regional Analysis:
Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Traffic Management market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Traffic Management Market:
Due to a break in operations, end-user sectors where Traffic Management are used suffered a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, and Spain, France, and India. As a result, the revenues of enterprises in these industries fell significantly, as did the demand for Traffic Management manufacturers, impacting the growth of the Traffic Management market in 2020. Lockdowns and a surge in COVID-19 events globally have severely reduced end-user business demand for Traffic Management.
Key Questions Answered in the Traffic Management Market Report are:
- In 2021, which segment held the highest proportion of the Traffic Management market?
- What is the Traffic Management market’s competitive landscape?
- What are the primary drivers assisting Traffic Management market growth?
- Which region has the most market share in the Traffic Management market?
- What will be the Traffic Management market’s CAGR throughout the projected period (2022-2027)?
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