NEWARK, Del, June 23, 2022 (GLOBE NEWSWIRE) -- Traffic Management Systems Market Is Estimated At US$ 21.3 Bn In 2022, Likely To Surge At A Vigorous 12.1% CAGR During The Assessment Period 2022 – 2032
Future Market Insights (FMI) Has Published A New Report On The Global Traffic Management Systems Market. The Report Has Been Titled “Traffic Management Systems Market: Global Industry Analysis (2013-2021) And Opportunity Assessment (2022-2032).” The Global Traffic Management Systems Market Is Likely To Foresee Extensive Growth Over The Course Of The Forecast Period.
This Growth Can Be Attributed To The Burgeoning Congestion Levels That Offer Tremendous Potential For Traffic Management Systems. The Traffic Management Systems Market Is Also Increasing Due To Increasing Government Focus On Boosting Safety As Well As Expanding The Smart City Initiatives Along With Rapid Advancements In Technology.
In Order To Capitalise On This Opportunity, The Players Operating In The Market Are Launching New Products And Entering Into Mergers And Acquisitions In Order To Acquire New Technology And Stay Competitive In The Market. For Instance, In May 2015, IBM Corporation Launched A Transportation Management Solution For The New Jersey Turnpike Authority (NJTA).
The Launch Is Aimed At Reducing Traffic Congestion And Improving The Traffic Flow By Employing An Enhanced System That Assimilates The Internet Of Things To Provide Advanced Analytics And Predictive Capabilities. Moreover, The System Provides Central Management Of Approximately 900 Devices Including Drum And Portable Signs, Variable Messages, Traffic Cameras And Hybrid Displays. The Other Companies Operating In The Market Are Siemens AG, Thales Group Ad, Mitsubishi Electric Corporation, Kapsch Trafficcom, Iskra, Telegra, SWARCO, And SICE, Among Several Others.
Get Sample Copy Of Traffic Management System Market @ https://www.futuremarketinsights.com/reports/sample/rep-gb-6469
Technological Advancements To Trigger Adoption Rate Of Traffic Management Systems
With The Growing Traffic Congestion Levels Across Cities, The Implementation Of TMS Is Increasing Exponentially. This Growing Adoption Has Induced The Development Of Advanced Traffic Management System Devices As Well As Software To Provide Extraordinary Capabilities And Highly Improved Performances. For Instance, The Current Technologies In TMS Include Integrated Machine Learning, Wireless Charging Sensors, Integrated Toll Management Systems, Weather Monitoring Solutions, IOT Based ITS, ITS For Connected Vehicles, IOT For Autonomous Vehicles, And Many More.
Owing To The Numerous Benefits Of Traffic Management Systems, Governments Across Various Countries In The World Are Actively Engaging Themselves In The Deployment Of Smart Traffic Management Systems. This Is Being Done In Order To Smoothen Traffic Flow By Reducing Traffic Congestion And Reducing Pollution Levels Across Cities, By Prioritising Traffic In Accordance With Real-Time Traffic Information. For Instance, In July 2021, Miami-Dade County Signed A Smart Traffic Contract Of US$ 11.1 Mn With Econolite Control Products.
As Part Of This Contract, The Company Will Install 300 New Smart Traffic Signals That Will Work On A New Technology, Namely, Changing The Flow Of Vehicles. The Traffic Signals Cover Nearly 10% Of All Miami-Dade Traffic Lights. The Growing Initiatives For Successful Traffic Management And Increasing Investments Are Projected To Bode Well For The Global Traffic Management Systems Market In The Long Run.
Ask For More Insights Analysis On Report@ https://www.futuremarketinsights.com/ask-question/rep-gb-6469
Budget Constraints To Restrain Market Development
Notwithstanding All The Benefits Offered By Traffic Management Systems, The Restricted Budgets Allocated To The Traffic Industry Remain A Serious Issue. Local Authorities Are Usually Budget-Constrained, And Try To Save Costs By Avoiding The Adoption Of Advanced Traffic Management Systems. Furthermore, The Authorities Of Some Developing And Underdeveloped Regions Do Not Have Sufficient Budgets To Implement The Systems Across Certain Countries.
Moreover, The Additional Costs Involved In Installation, Repairs, And Maintenance Of These Systems Will Increase The Overall Expenses, Eventually Deteriorating The Situation. Consequently, Budgetary Restrictions And High Costs Involved With Advanced Traffic Management Systems Are Impacting The Market In A Negative Manner, Thereby Encumbering The Growth Of The Market.
Traffic Management System Outlook by Category
By Component:
- Traffic Management Hardware
- Traffic Management Software
- Traffic Management Services
By Application:
- Urban Traffic Management Systems
- Adaptive Traffic Control Systems
- Journey Time Management Systems
- Incident Detection & Location Systems
- Others
By End User:
- Railways
- Roads
- Air
- Maritime
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis And Recommendations
Check Report For Detailed TOC…
Get Customization Of Report @ https://www.futuremarketinsights.com/customization-available/rep-gb-6469
Have A Look At Related Research Reports Of Technology Domain:
Industrial Machine Vision Market: Global Industrial Machine Vision Demand Is Anticipated To Be Valued At US$ 8.45 Billion In 2022, Forecast To Grow At A CAGR Of 6.9% To Be Valued At US$ 16.46 Billion From 2022 To 2032.
Mhealth Solutions Market: Rising Demand For Mhealth Solutions Across The World Is Expected To Propel Market Expansion At An Astronomical CAGR Of 27% From 2022 To 2030. At Present, The Global Mhealth Solutions Market Stands At A Value Of US$ 101.12 Bn, And This Revenue Is Anticipated To Surge To An Impressive US$ 685.99 Bn By The End Of 2030.
5G In Automotive And Smart Transportation Market: The Global 5G In Automotive And Smart Transportation Market Is Worth US$ 1.49 Bn At Present, And Detailed Market Analysis Reveals That It Is Estimated To Surge To A Valuation Of US$ 9.77 Bn By The End Of 2030. Demand For 5G In Automotive And Smart Transportation Is Predicted To Rise At A Phenomenal CAGR Of 26.5% From 2022 To 2030.
Digital Risk Protection Platform Market: The Global Digital Risk Protection Platform Market Is Anticipated To Expand At A High CAGR Of 9.8% From 2022 To 2030. The Market Accounts For A Valuation Of US$ 946.6 Mn At Present, And Is Predicted To Reach US$ 1.96 Bn By The End Of 2030.
Mindfulness Meditation Application Market: The Global Mindfulness Meditation Application Market Is Set To Enjoy A Valuation Of US$ 192.7 Mn In 2022, And Further Expand At A CAGR Of 9.5% To Reach US$ 397.9 Mn By The Year 2030.
Intelligent Enterprise Data Capture Software Market: The Global Intelligent Enterprise Data Capture Software Market Is Estimated At US$ 9 Bn In 2022, And Is Projected To Close In On A Valuation Of US$ 21.1 Bn By 2029, Expanding At A CAGR Of 12.9% From 2022 To 2029.
I2C Bus Market: The Global I2C Bus Market Is Expected To Be Valued At US$ 7.57 Billion In 2022, Expected To Reach US$ 12.44 Billion By 2032. A CAGR Worth 5.1% Is Expected For The Market During The 2022-2032 Forecast Period.
Centralized Workstation Market: The Global Centralized Workstation Market Is Currently Valued At Around US$ 14,687.4 Mn In 2022. The Centralized Workstation Market Is Anticipated To Progress At A CAGR Of 11.9% To Reach US$ 45,160.2 Mn By 2032.
Legal Transcription Market: The Global Legal Transcription Market Stood At Around US$ 1,988.9 Mn In 2021, And Is Slated To Increase At A CAGR Of 6.5% To Reach A Valuation Of US$ 3,267.7 Mn By 2029.
Disaster Recovery-As-A-Service Market: The Global Disaster Recovery-As-A-Service Market Is Anticipated To Expand At A Prolific CAGR Of 24.8% From 2022 To 2030. The Market Accounts For A Valuation Of US$ 12.81 Bn At Present, And Is Predicted To Reach US$ 75.22 Bn By The End Of 2030.
About Us
Future Market Insights (ESOMAR Certified Market Research Organization And A Member Of Greater New York Chamber Of Commerce) Provides In-Depth Insights Into Governing Factors Elevating The Demand In The Market. It Discloses Opportunities That Will Favor The Market Growth In Various Segments On The Basis Of Source, Application, Sales Channel And End Use Over The Next 10-Years.
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
Report: https://www.futuremarketinsights.com/reports/traffic-management-systems-market
For Sales Enquiries: sales@futuremarketinsights.com
Browse Other Reports: https://www.futuremarketinsights.com/reports
Linkedin| Twitter| Blogs
