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 in more widely applications by building a whole traffic networking.
With the rising population and vehicles, traffic safety has become increasingly important, which drives the demand for traffic management systems growing.
From 2010 to 2014, due to the intellectualization of traffic management systems, global traffic management systems industry developed fast with near 13.5~17.5% growth rate. As for China, because of the late start, traffic management systems industry has experienced an explosive growth, the growth rate is higher than 17.5% and average growth rate reached to 20%.
In the next years, it is estimated that traffic management systems industry will continue developing rapidly and the global revenue will reach to near 9.5 billion USD, while the same data will be 4.3 billion USD in China.
Due to the high opportunities in the RandD and sales of traffic management systems, in the future, there will be more and more investors entering into this industry.
Competition becomes more intense in traffic management systems industry, and providers will face the high risk of further price and gross margin decline in the future.
According to this study, over the next five years the Traffic Management Systems market will register a 9.2% CAGR in terms of revenue, the global market size will reach US$ 2520 million by 2024, from US$ 1490 million in 2019. In particular, this report presents the global revenue market share of key companies in Traffic Management Systems business, shared in Chapter 3.
This report presents a comprehensive overview, market shares and growth opportunities of Traffic Management Systems market by product type, application, key companies and key regions.
This study considers the Traffic Management Systems value generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
Integrated Urban Traffic Control System
Freeway Management System
Advanced Public Transportation System
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
Consultancy and Planning
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Middle East and Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
China ITS (Holdings)
China Shipping Network Technology
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Traffic Management Systems market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Traffic Management Systems market by identifying its various subsegments.
Focuses on the key global Traffic Management Systems players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Traffic Management Systems with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the size of Traffic Management Systems submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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