Bharat Book Bureau Provides the Trending Market Research Report on “Global Traffic Management Systems Market by Manufacturers, Countries, Type and Application, Forecast to 2023” under Media & Technology category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.
Traffic management Systems refer to the IT solutions provided by vendors to improve the traffic flow and enhance passenger safety. The traffic management systems consume data from disparate sources such as road sensors, CCTV cameras, and traffic control centers. The systems process these data and generate useful information, which is passed on to end-users such as passengers, traffic control agencies, and police stations. Traditionally, traffic management systems helped to save time and reduce wastage of fuel by reducing traffic congestion. However, with the advances in communication technologies and the internet, the traffic management systems now help users in more widely applications by building a whole traffic networking.
Scope of the Report:
This report studies the Traffic Management Systems market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Traffic Management Systems market by product type and applications/end industries.
With the rising population and vehicles, traffic safety has become increasingly important, which drives the demand for traffic management systems growing.
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From 2010 to 2014, due to the intellectualization of traffic management systems, global traffic management systems industry developed fast with near 13.5~17.5% growth rate. As for China, because of the late start, traffic management systems industry has experienced an explosive growth, the growth rate is higher than 17.5% and average growth rate reached to 20%.
In the next years, it is estimated that traffic management systems industry will continue developing rapidly and the global revenue will reach to near 9.5 billion USD, while the same data will be 4.3 billion USD in China.
Due to the high opportunities in the R&D and sales of traffic management systems, in the future, there will be more and more investors entering into this industry.
Competition becomes more intense in traffic management systems industry, and providers will face the high risk of further price and gross margin decline in the future.
The global Traffic Management Systems market is valued at 1490 million USD in 2017 and is expected to reach 2520 million USD by the end of 2023, growing at a CAGR of 9.2% between 2017 and 2023.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Traffic Management Systems.
Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.
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