Northbrook, IL -- (SBWIRE) -- 09/01/2021 -- According to a new market research report "Traffic Management Market by Solution (Smart Signaling, Route Guidance and Route Optimization, Traffic Analytics, and Smart Surveillance), Hardware (Display Boards, Sensors, and Surveillance Cameras), Service, System, and Region - Global Forecast to 2026" published by MarketsandMarkets, the global Traffic Management size to grow from USD 35.3 Billion in 2021 to USD 61.9 Billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.9% during the forecast period.

The presence of various key players in the ecosystem has led to competitive and diverse market. The market include a high growth rate for the adoption of eco friendly automobile technology and introduction of MaaS in the market. A growing need for operational efficiency, and recent government mandates also plays a major role for the high growth rate of the market. However, there are significant growth opportunities for Traffic Management vendors. Small firms and startups are also marking their presence in the Traffic management market by providing their offerings across the world. The Traffic management industry is gradually adopting advanced technologies which integrates and coordinates the flow of traffic in various regions for the ease of commuters, i.e., vehicles and pedestrians, reduce environmental impact and increase the overall Traffic efficiency.

Browse 375 market data Tables and 60 Figures spread through 320 Pages and in-depth TOC on "Traffic Management Market"

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1036

The Route Guidance and Route Optimization segment to record a higher growth rate during the forecast period

In the Traffic management market by solution, the Route guidance and route optimization is expected to record a higher growth rate during the forecast period. Traffic management solutions ensure that every traffic control center gets coupled to subsystems, such as traffic light systems and other detection devices, to establish a proper integration of traffic control systems. The hardware and software systems are in conformity with international standards. The application allows smooth monitoring and instantly replies to events.

Incident detection and location system are expected to hold a larger market share during the forecast period

By system, Incident detection and location system is expected to hold the largest market size. It detects, verifies, and resolves incidents quickly. Video analysis is a well-established technology in the traffic management system for traffic incident monitoring. The real-time camera images detect a variety of incidents; and thus, lives are saved. Video Incident Detection Systems (VIDS) consists of a network of cameras that automatically detect events and ensure appropriate responses. Traffic Management Systems assists in organizing, managing, and coordinating Traffic operations from a centralized information system.

Europe to hold the largest market size during the forecast period

Europe is expected to hold the largest market size in the global Traffic management market during the forecast period. The European market has diverse business needs. Enterprises in this region have the strong technical expertise and bigger IT budgets. There are many traffic management vendors in this region. Europe is the largest regional market in terms of revenue. The UK is the most developed economy, contributing significantly to the growth of the traffic management market

Speak to Research Expert @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1036

The key and emerging market players in the Traffic Management market include Cisco Systems, Inc. (Cisco) (US), SWARCO AG (SWARCO) (Austria), Siemens AG (Siemens) (Germany), International Business Machines Corporation (IBM) (US), Kapsch TrafficCom AG (Kapsch TrafficCom) (Austria), Thales Group (THALES) (France), Q-Free A.S.A. (Q-Free) (Norway), Planung Transport Verkehr Group (PTV Group) (Germany), FLIR Systems, Inc. (FLIR) (US), Cubic Corporation (Cubic) (US), TomTom N.V. (TOMTOM) (Netherlands), Alibaba Group Holding Limited (Alibaba) (China), Huawei Technologies Co., Ltd. (Huawei) (China), TransCore (TransCore) (US), Chevron Corporation (Chevron) (England), Oriux (Oriux) (US), Invarion Inc. (Invarion) (US), Waycare Technologies Ltd (Waycare) (US), NOTRAFFIC (NoTraffic) (Israel), INRIX, Inc. (INRIX) (England), Sensys Networks, Inc. (Sensys Networks) (US), BlueSignal Inc (BlueSignal) (South Korea), Telegra d.o.o (Telegra Europe) (Croatia), Citilog (Citilog) (France), and Bercman Technologies AS (Bercman Technologies) (Estonia). This research report also studies the strategic alliances and lucrative acquisitions among various global and local players in the Traffic Management ecosystem. These players have adopted various strategies to grow in the global Traffic Management market.

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: sales@marketsandmarkets.com
MnM Blog: https://mnmblog.org
Content Source: https://www.marketsandmarkets.com/PressReleases/traffic-management.asp