Global Integrated Traffic Systems Market By Sensor Type (Weigh-In Motion Sensors, Acoustic Sensors), Function (Traffic Monitoring, Traffic Control, Information Provision), Hardware (Display Boards, Sensors, Surveillance Camera, Radar, Smart Traffic Light, Interface Boards, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Global Integrated Traffic Systems market is set to witness a substantial CAGR of 8.35% in the forecast period of 2019- 2026.
Integrated Traffic Systems are specially designed so they can reduce the chances of accidents and enhances the traffic controls and monitoring. Implementing Integrated Traffic Systems can help in easy movement of cars through various transport modes, such as streets, highways, marine, ships, civil aviation, ports, and inland water. It allows fleet managers to improve productivity by effectively scheduling routes and delivering traffic updates and forecasting the time of departure and arrival. They are also very beneficial for the environment as they have the ability to decrease the carbon emission.
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Few of the major competitors currently working in global Integrated Traffic Systems market are Sumitomo Electric Industries, Ltd.; Cisco Systems; Seimens; SWARCO; LG CNS,; Kapsch TrafficCom AG; Cubic Corporation; Iteris, Inc.; FLIR Systems, Inc.; Jenoptik AG; Q-Free; Citilog.; EFKON; imtac; TransCore; Savari, Inc; PTV AG; Atkins; Global Traffic Technologies; among others.
Global Integrated Traffic Systems market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Integrated Traffic Systems market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
- Rising urbanization worldwide which acts as a market driver
- Increasing concern associated with the public safety also contributes towards the market growth
- Growing global road traffic congestion will propel the growth of this market
- Increasing government initiatives to decrease carbon emission will also uplift the market growth in the forecast period
- Lack of proper technologies will hamper the market growth
- High investment cost in old road infrastructure is restricting the growth of this market
Segmentation: Global Integrated Traffic Systems Market
By Sensor Type: Weigh-In Motion Sensors, Acoustic Sensors, Road Condition Sensors, Visibility Sensors, thermal Mapping Sensors, Wind Speed Sensors, Inductive Loop Detectors
By Function: Traffic Monitoring, Automatic Vehicle Detection, Number Plate Recognition System, Journey Time Measurement System, Traffic Control, Intelligent Traffic Lightings, Parking Management, Incident Detection System, Information Provision, Multifunctional System, Information Communication System
By Hardware, Display Boards, Sensors, Surveillance Camera, Radar, Smart Traffic Light, Interface Boards, Others
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Key Developments in the Market:
- In October 2018, Cubic Corporation announced the acquisition of Advanced Traffic Solutions Inc which will be the part of the company’s Cubic Transportation Systems (CTS) business unit. This investment will strengthen Cubic’s NextCity strategy to tackle urban traffic issues through best-in-class approaches that maximize the use of transportation infrastructure and increase traveller mobility. This will also help them to offer better products and services to their customer
- In June 2018, Uttar Pradesh Chief Minister Yogi Adityanath announced the launch of the India’s first Integrated Traffic Management System (ITMS). The ITMS will help the police to control traffic and deter drivers in normal traffic and will certainly reduce traffic accidents and congestion. This will also help them to keep the city clean and pollution free
Our Report offers:-
- What will the market growth rate, Overview and Analysis by Type of Global Integrated Traffic Systems Market in 2026?
- What are the key factors driving, Analysis by Applications and Countries Global Integrated Traffic Systems Market?
- What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Global Integrated Traffic Systems Market?
- Who are Opportunities, Risk and Driving Force of Global Integrated Traffic Systems Market?
- Who are the opportunities and threats faced by the vendors in Global Integrated Traffic Systems Market? Business Overview by Type, Applications, Gross Margin and Market Share
- What are the Global Integrated Traffic Systems Market opportunities, market risk and market overview of the Market?
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