Research report presented by UnivDatos, Emphasis on Offerings (Traffic Monitoring, Traffic Control, Information Provision), Service Type (Deployment and Integration, Training & Consulting, Support and Maintenance), Hardware (Display Boards, Sensors, Surveillance Cameras, Smart Traffic Lights, Interface Boards, Others), Application Type (Freeway Management, Electronic Toll Collection, Tunnel Management, Road Safety & Security, Parking Management, Others) and Geographical analysis (key regions and countries).
As per the research report, Global Integrated Smart Traffic Control System Market was valued at US$ 11 billion in 2018 and is anticipated to reach US$ 29.6 billion by 2026 displaying a reasonable CAGR of 13.3% over the forecast period (2020-2026). Integrated traffic networks are multi-modal transportation systems that connect different modes of transportation. The introduction of automated traffic grids would result in the fast flow of vehicles. The integrated traffic system combines information and networking technologies with highway systems to increase passenger safety and the overall transportation process' competence. The scheme is planned to make the most of existing roadways by maximising traffic flow. It includes an information management system for traffic data (such as collisions, highway volumes, and signal timing details), as well as a correlation between the database and traffic analysis programmes. The need for an interconnected traffic grid through numerous public and private infrastructures has grown as the number of vehicles on the road has increased. Across the globe, demand for advanced traffic control applications such as automated number plate identification, smart monitoring, and smart signalling is growing. The continuous transformation of roadway infrastructure has resulted in a greater demand for traffic management through automated operations. Furthermore, increasing income levels have raised demand for personal mobility, resulting in increased road traffic in major cities around the world, driving up demand for innovative traffic services like interconnected traffic systems. The overall growth of the integrated traffic systems industry is projected to be fueled by the growing demand for a reduction in average traffic speed. However, the technology's development is hampered by initial developments in existing road networks and its capital-intensive existence.
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“Amongst major offering type, Traffic Monitoring holds the largest market and is expected to dominate the Global Integrated Smart Traffic Control System Market by 2026”
The sector is divided into three categories based on the services provided: traffic monitoring, traffic control, and information provision. The Traffic Monitoring segment had the largest market share of 43.8 percent in 2018, and the Traffic Control segment is projected to rise at the fastest CAGR during the forecast period. Traffic control assists with diverting traffic away from congested or dangerous areas, reducing traffic congestion and the possibility of accidents.
“Deployment & Integration dominated the service segment of the global Integrated Smart Traffic Control System Market and is expected to dominate the market during the analyzed period”
Deployment & Integration, Training & Consulting, and Support & Maintenance are the three service types that make up the global Integrated Smart Traffic Control System Market. Due to the increased implementation of smart traffic control systems in traffic management networks, Deployment & Integration occupied the largest share in 2018 and is projected to retain its supremacy during the forecast period 2020-2026.
“Amongst hardware type, Surveillance Camera segment dominated the market”
Display Boards, Sensors, Surveillance Cameras, Smart Traffic Lights, Interface Boards, and Others are the hardware segments of the global Integrated Smart Traffic Control System Market. Surveillance Camera led the industry in 2018, bringing in $4.33 billion in sales. During the projected era, however, the smart traffic light segment is predicted to rise at the fastest rate of 15.48 percent.
For a detailed analysis of the applications in the Integrated Smart Traffic Management System Market browse through – https://univdatos.com/report/integrated-smart-traffic-management-system-market-current-analysis-and-forecast-2020-2026
“Electronic Toll Collection was the major application of Integrated Smart Traffic Control System”
The global Integrated Smart Traffic Control System market is segmented by application into Freeway Management, Electronic Toll Collection, Tunnel Management, Road Safety & Security, Parking Management, and Others. The Electronic Toll Collection System took the lead with 42.7 percent of the market in 2018, led by Parking Management and Road Safety & Security. During the forecast era, the freeway maintenance segment is predicted to rise at the fastest rate of 14.88 percent.
“North America represents one of the largest markets of the Integrated Smart Traffic Control System Market globally.”
The report also provides regional-level analysis for major regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa for a more in-depth look at the market. Because of well-established road networks, technical advances, and the presence of innovative products in the field of traffic control and management, North America led the industry in 2018, producing sales of US$ 4.33 billion. Asia-Pacific, on the other hand, is forecast to rise at the fastest pace, with a CAGR of 14.37 percent over the study period.
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Table of Contents
1 Market Introduction
2 Research Methodology
3 Industry Performance
4 Executive Summary
5 Market Overview
6 Key Market Indicators
7 Market Insights by Offering
8 Market Insights by Services
9 Market Insights by Hardware
10 Market Insights by Application
11 Market Insights by Region
12 Competitive Scenario
13 Top Company Profiles - Kapsch Traffic Com AG, Iteris Inc., Cisco Systems Inc., Thales Group, Cubic Corporation, TomTom, Siemens AG