A new Report by Delvens, titled "Intelligent Traffic Management and Monitoring Systems Market” offers a comprehensive analysis of the industry, which comprises insights on the Global analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global Intelligent Traffic Management and Monitoring Systems Market size is projected to reach a CAGR of 12.5% from 2023-2030.
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Traffic System is a primary concern for most of the metropolitan centers of the world. An effective traffic control system can have a severe impact on the country’s economy. The traffic control system is based on the easy concept that “a car can only move forward if there is an area for it and the signal normally remains green until this car has passed”.
By placing sensors at every entry and exit of a junction and examining the number of cars present at the junction, it is probably possible to form traffic very efficiently, which is a great application of digital signal control processing.
An improvement in the adoption of intelligent traffic management systems globally can be credited to their capacity to improve efficiency in different situations including mobility and road transport. An excessive need to reshape transportation networks, particularly in emerging economies due to burgeoning urban population and speedy industrialization, is assumed to be highly impactful on the growth of the Intelligent Traffic Management and Monitoring Systems Market.
These systems help decrease and eliminate delays, and traffic congestion, and convey accurate information to commuters as well as traffic planners at the precise time. Such benefits have led to a surge in the demand for effective traffic management systems which will probably fuel market growth.
The prominent players in Intelligent Traffic Management and Monitoring Systems Market are:
· Cubic
· SWARCO
· Siemens
· THALES
· IBM
· Fujitsu
· Q-Free
· Imtech
· SICE
· Iteris
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Key Findings of Intelligent Traffic Management and Monitoring Systems Market:
· The solution segment is further segmented into Traffic Monitoring Systems, Traffic Signal Control Systems, Traffic Enforcement Cameras, Integrated Corridor Management, Intelligent Driver Information Systems, and Others. he Intelligent driver information system segment is estimated to witness the highest CAGR during the forecast period. This is a very important solution to the risk of road accidents. Another remarkable feature of IDIS is adaptive cruise control (ACC), which adapts the vehicle’s speed concerning the vehicle’s speed in front. This system will likely be expanded further as more intelligent driving aids are added to vehicles.
· The spender-type segment is further fragmented into Traffic Controllers and Signals, Surveillance Cameras, Video Walls, Detectors & Sensors, 3D Simulators, and Others. The Surveillance cameras segment holds the largest market share during the forecast period. Surveillance cameras software turns any traffic monitoring camera into intelligent sensors. This software is particularly designed to digitally monitor encoded video streams of traffic cameras on highways to recognize incidents and collect real-time traffic data.
· The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America holds the largest market share. The adoption of IoT and Industry 4.0, the growing need for real-time data among drivers and passengers, and rising awareness regarding intelligent systems will boost the market in the North American region.
North America to Dominate the Market
· North America holds the largest market share. The adoption of IoT and Industry 4.0, the growing need for real-time data among drivers and passengers, and rising awareness regarding intelligent systems will boost the market in the North American region.
· Asia Pacific region is expected to grow on account of the rising smart cities projects, strong growth of automation, and expanding internet coverage penetration, thereby, providing a greater avenue for the growth of the market across the forecast timeline.
Reasons to Acquire
· Increase your understanding of the market for identifying the best and most suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
· Gain authentic and granular data access for Intelligent Traffic Management and Monitoring Systems Market so as to understand the trends and the factors involved in changing market situations.
· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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