Claim Sample Report For FREE- https://www.factmr.com/connectus/sample?flag=S&rep_id=319
A recent report published by Fact.MR projects that the global intelligent traffic management system market will reach a valuation of US$ 31,692 Mn by 2026-end. Shifting focus towards improving road networks in expected to reflect favorably on the global market. Moreover, increasing need for technologies that can effectively manage and monitor high-speed mobility is creating greater scope of application of intelligent traffic management systems. A technology as such can effectively ensure passenger safety and address some of grave issues of traffic management. In highways and busy roads, it is extremely important to install advanced traffic management systems to monitor various the traffic activities.
Highlights from the Report Include:
- In terms of revenues, North America is expected to dominate the global market for intelligent traffic management systems in 2017 and the trend is expected to continue throughout the assessment period. In addition, the region’s market is projected to witness a sound growth over 2026. Rapid adoption of advanced traffic management solution in the U.S. and Canada is playing an important role in driving the growth of the market in the region.
- On the basis of product type, the integrated urban traffic control system segment will remain highly attractive over 2026. The segment currently accounts for more than 16% share of the global market for intelligence traffic management, which is expected to increase to nearly 22% share towards the end of assessment period, expanding at a robust growth rate. This segment is set to increase at over US$ 1,000 Mn annually over the course of the forecast period.
- On the basis of spennder type, the federal and provincial government segment is expected to retain its leading position over 2026. Currently, the segment commands for more 53% share of the market and is projected to exhibit an above-average CAGR between 2017 and 2026. This is primarily owing to increasing uptake of intelligence traffic management systems in public transits systems.
- Based on component, the detectors & sensors segment will remain dominant in 2017 and beyond. This segment is expected surpass a market valuation of US$ 4,500 Mn by 2026-end, exhibiting a compound annual growth rate (CAGR) of 14.4%.
View Full Report with Table of Content - https://www.factmr.com/report/319/intelligent-traffic-management-systems-market
Demand for Integrated Urban Traffic Control Systems to Gain Traction
According to the findings from the study, the demand for intelligent traffic management systems that facilitate an integrated control on urban traffic is expected to witness impressive growth in the upcoming years. By the end of 2026, integrated urban traffic control systems worth over US$ 7.1 Bn will be sold across the globe. Meanwhile, increasing presence of expressways to bolster interstate transportation is anticipated to propel the demand for freeway management systems. In 2017, sales of freeway management systems is likely to account for over 10% global revenues. Electronic toll collection systems, on the other hand, will register a greater share on global revenues, and will be widely adopted in North America.
Federal & Provincial Governments – High Spenders
The study further projects that largest expenditure on intelligent traffic management systems will be commissioned by federal and provincial governments. In 2017, more than half of the global intelligent traffic management system market value is anticipated to be accounted by the revenues arising from federal government spending. Infrastructure enterprises and public private partnerships (PPPs) are also expected to increase their spending on intelligent traffic management systems. By 2026, infrastructure enterprises & PPPs across the globe are expected to spend over US$ 10 Bn on adoption of intelligent traffic management systems.
Companies namely Q-Free, Cubic, Siemens, Kapsch TrafficCom, SWARCO, Imtech, Kyosan Electric, Peek Traffic, Hisense TransTech, Baokang Electronic, and Wantong Technology are anticipated to remain active in expansion of the global market for intelligent traffic management system through 2026. A majority of intelligent traffic management system developers will be focusing on increasing the data volume capacities and analysis algorithms. Some companies are also expected to integrate advanced analytics like big data for improving examination of vehicles in the event of accidents and hit & runs.
Intelligent Traffic Management Systems Market Report is available for Purchase - https://www.factmr.com/checkout/319/S
FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market Insights reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
11140 Rockville Pike
Rockville, MD 20852
Follow Us on Linkedin: https://www.linkedin.com/company/factmr/