Traffic Management Market to Garner USD 102.41 Billion with Excellent CAGR of 14.20% by 2029, Size, Share, Industry Trends, Segmentation, Trend, Future Demand and Revenue Analysis – QNT Press Release

AUCKLAND, New Zealand, Sept. 21, 2022 /PRNewswire/ — Data Bridge Market Research has a newly released expansive study titled “Global Traffic Management Market” which guarantees one will remain better informed than the competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and success in the market. Global Traffic Management Market research report endows with the most suitable and specific information to the decision-makers in the Traffic Management industry which saves their time and gives excellent output. With the systematic study performed by experts, of all these parameters are used to offer the best solution. The report analyses the potential of the market concerning the current scenario and the prospects by considering several industry aspects. This Traffic Management report explains several market factors such as market estimates and forecasts, entry strategies, opportunity analysis, market positioning, competitive landscape, product positioning, market assessment, and viability studies.

Data Bridge Market Research analyses that the traffic management market was valued at USD 35.40 billion in 2021 and is expected to reach the value of USD 102.41 billion by 2029, at a CAGR of 14.20% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

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Market Synopsis:-

The population of on-road vehicles, particularly passenger vehicles, is steadily increasing and is expected to reach two billion by 2040. This increases traffic density, resulting in wasted time and fuel, noise pollution, and road accidents. Because of the high concentration of traffic in many cities around the world, a proper traffic planning and control system is required. This has highlighted the importance of traffic management systems.

Traffic management is the process of organising, arranging, directing, and controlling both stationary and moving traffic, including pedestrians, bicyclists, and vehicles of all types. To reduce accidents, the goal of the traffic management system is to provide safe, orderly, and efficient movement of people and goods, as well as to protect and, wherever possible, improve the quality of the local environment on and adjacent to traffic facilities. Real-time data is analysed by traffic management systems, which respond immediately.

Opportunities for New Entrants:-

Increasing urbanisation and rapid industrialization are driving the global traffic management system market, creating a pool of opportunities for traffic management system vendors. The number of on-road vehicles is rapidly increasing as the population grows, creating a demand for traffic management.

Some of the major players operating in the Traffic Management market are:

  • Cisco Systems, Inc. (US),
  • SWARCO (Austria),
  • Kapsch TrafficCom AG (Austria),
  • Thales (France),
  • Q-Free ASA (Norway),
  • PTV Planung Transport Verkehr GmbH (Germany),
  • Teledyne FLIR LLC (US),
  • Cubic Corporation (US),
  • TomTom International BV (Netherlands),
  • Alibaba Group Holding Limited (China),
  • Huawei Technologies Co., Ltd. (China),
  • TransCore (US),
  • Chevron Corporation (England),
  • Oriux (US),
  • Invarion Inc.

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Recent Development

  • In July 2021Siemens launched Yunex, formally known as Siemens intelligent traffic system,. (ITS). This was launched under a new brand name and would have a clear business focus and freedom.
  • In May 2021, Q-Free developed kinetic CV, the most recent connected and autonomous vehicle (CAV) data solution. This is a cutting-edge single dashboard for traffic management platforms.
  • Huawei and its partners created intelligent and connected vehicles for China in January 2021. The nation intends to make their travel easy and secure. A vehicle by the name of X-Bus is connected to a network for traffic management. Everything that occurs on the test road would be visible to this, and it would make decisions.

Core Objective of Traffic Management Market:-

  • Every firm in the Traffic Management market has objectives but this market research report focuses on the crucial objectives, so you can analyze about competition, future market, new products, and informative data that can raise your sales volume exponentially.
  • Size of the Traffic Management market and growth rate factors.
  • Important changes in the future Traffic Management market.
  • Top worldwide competitors of the Market.
  • Scope and product outlook of Traffic Management market.
  • Developing regions…

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