Global Traffic Management Market to Surpass USD 22 Bn by 2021, States TechSci Research in Its New Report Available at MarketPublishers.com30 May 2016 • by Natalie Aster
LONDON – The traffic management market keeps on posting robust growth, driven by an increase in road accidents, growing sales of light motor vehicles and heavy vehicles, thriving travel & tourism industry, emergence of cost-friendly airline companies, and rising demand for new aircraft, among others. The growing trend of intermodal traffic regulation systems, rising demand for commercial unmanned airplanes, demand for advanced parking management systems and surging need for V2V and V2I communication will likely stimulate the market expansion in the years to come.
The value of the worldwide traffic management market is projected to reach up to USD 22 billion by ednd-2021. As of 2015, North America dominated the market due to a number of factors such as the implementation of strict government incentives supporting the use of Intelligent Transport System, growing need for reducing traffic jams and accidents, in tandem with increased usage of traffic data for real-time traffic control. The APAC traffic management sector is expected to see the fastest growth due to the mushrooming population, a hike in the demand for public vehicles, surging demand for air passage, and increasing car sales, among others.
New comprehensive report “Global Traffic Management Market” elaborated by TechSci Research provides shrewd insights into the sector, segmenting it based on mode of transport, system type, and by geographic region. The study offers an insightful analysis of the overall market size by value, analyses the market share of the segments in question and by company, alongside offering granular forecast figures. The report scrutinises the market dynamics covering key market challenges and growth drivers; limelights on-going industry trends and developments; and uncovering emerging opportunities in the field. The study also presents competitive knowledge of the top 20 industry players. Strategic recommendations are at available, too.
More reports by this publisher are available at TechSci Research page.