10-Sep-2019 | Zion Market Research
Zion Market Research has published a new report titled “Integrated Traffic Systems Market By Sensor Type (Infrared, Weigh-In Motion, and Acoustic), By Function (Traffic Control, Traffic Monitoring, and Information Provision), and By Hardware (Sensors, Display Boards, Radars, Surveillance Cameras, Interface Boards, Smart Traffic Lights, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, global integrated traffic systems market was valued at around USD 20.88 billion in 2018 and is expected to reach approximately USD 37.19 billion by 2025, growing at a CAGR of slightly above 8.6% between 2019 and 2025.
Integrated traffic systems are multi-modal transport systems, where modes of transport are linked with each other. The implementation of integrated traffic systems will result in easy movement of automobiles via various modes of transport, like railways, roads, coastal, ports, shipping, civil aviation, and inland water.
Browse the full “Integrated Traffic Systems Market By Sensor Type (Infrared, Weigh-In Motion, and Acoustic), By Function (Traffic Control, Traffic Monitoring, and Information Provision), and By Hardware (Sensors, Display Boards, Radars, Surveillance Cameras, Interface Boards, Smart Traffic Lights, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/integrated-traffic-systems-market
The rising demand for road safety of travelers and surging call to cut road traffic are propelling the integrated traffic systems market globally. Owing to the requirement road safety, the increasing concerns for new infrastructural development will also propel the integrated traffic systems market in the future. Moreover, traffic monitoring is a step to recognize traffic patterns to select an optimal solution for the traffic flow. Traffic monitoring consists of numerous functions, such as vehicle detection, journey time measurement systems, and automatic number plate detection, which helps in tracking vehicles and monitoring traffic in real-time. Increasing investments to enhance existing road infrastructure is also anticipated to support market demand. However, the lack of standardized and uniform technologies for integrated traffic systems might curtail the market in the years ahead.
On the basis of hardware, the integrated traffic systems market comprises sensors, display boards, radars, surveillance cameras, interface boards, smart traffic lights, and others. Surveillance cameras are likely to hold a significant share in the integrated traffic systems market, as they are among the most vital components in managing traffic. They can monitor and detect traffic conditions in real-time and send relevant data to the control rooms. Many countries across the world are using surveillance cameras to support rapid traffic movement in urban areas. By function, the integrated traffic systems market includes traffic control, traffic monitoring, and information provision. Intelligent traffic lightings, under the traffic control segment, are anticipated to hold a significant market share, owing to the increasing demand for reduced waiting time in traffic jams.
North American countries are likely to grow at a significant rate in the integrated traffic systems market, due to their technologically-advanced infrastructure. The regional governments are spending majorly to enhance their infrastructures like highways, tunnels, roads, and bridges in urban areas, to effectively deal with increased road incidents. Moreover, these governments are changing their existing law enforcement and strategizing to make roads safer for commuters, which, in turn, are supporting the region’s integrated traffic systems market growth.
Some noticeable players of the integrated traffic systems market are Cubic, Cisco, Sumitomo, Siemens, Swarco, LG CNS, KapschTrafficCom, Jenoptik, Flir, and Iteris.
This report segments the global integrated traffic systems market into:
Global Integrated Traffic Systems Market: Sensor Type Analysis
Global Integrated Traffic Systems Market: Function Analysis
Global Integrated Traffic Systems Market: Hardware Analysis
Global Integrated Traffic Systems Market: Regional Analysis
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