What is Advanced Traffic Management for Smart Cities Market?
Building smart cities is one of the primary priorities of developed countries. One component of a smart city is the development of an effective and intelligent traffic management system, especially for road traffic, to prevent congestion, collisions, and other types of inordinate delays. Smart cities, participatory sensing, and positioning data available in networking applications and social networks provide a massive amount of heterogeneous connectivity data that can be used to handle traffic. Sensors that are connected to the internet and enable devices to communicate, read, and perform specific operations have advanced as technology advances. This linking of objects to the internet is referred to as the Internet of Things (IoT), which uses the information given and executes tasks autonomously as planned. Multiple factors including rising number of smart city projects globally has facilitated growth in demand for Advanced Traffic Management platforms.
The market study is being classified by Type (Hardware, Software and Services (Managed, Professional)), by Application (Intelligent Transportation Systems (ITS) Solutions, Vehicle to-infrastructure (V2I) Communications and Traffic Controlling Systems) and major geographies with country level break-up.
Alphabet Inc. (United States), Microsoft Corporation (United States), IBM Corporation (United States), Econolite (United States), INRIX. (United States), Cisco Systems, Inc. (United States), Cubic Corporation (United States), Q-Free ASA (Norway), Rapid Flow Technologies (United States) and Siemens AG (Germany) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Telefonaktiebolaget LM Ericsson (Sweden), Verizon Communications (United States), Kapsch TrafficCom AG (Austria)] and Didi Chuxing Technology Co. (China).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Advanced Traffic Management for Smart Cities market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Advanced Traffic Management for Smart Cities market by Type, Application and Region.
On the basis of geography, the market of Advanced Traffic Management for Smart Cities has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Number of Smart City Projects
- Rising Vehicle Sales
- Stringent Traffic Management Norms
- Integration with Advanced Technologies Such as Artificial Intelligence (AI)
- Increasing Demand Across Emerging Regions
- Fierce Competitive Pressure
- Shift from Traditional Approach to Software
Market Leaders and some development strategies
On 18th November, 2020 - Honeywell International Inc. Raised Stakes in Trinity Mobility to Expand Smart-Cities Portfolio. Honeywell's Investment Gains Access to Trinity's Smart City Solutions Network, Which Incorporates Data from Different Networks in A City and Allows Operators to Analyse and Maintain Facilities. and On 25th October, 2018 - Cubic Acquired Advanced Traffic Solutions Inc. (Trafficware) to Expand Its Traffic Management and Smart Cities Capabilities. The Acquisition Adds A Fully Integrated, Creative Portfolio of Applications, Internet of Things (IoT) Products, And Hardware Solutions That Offers Increased Connectivity and Protection to Its Global Customers.
On 19th January, 2018 - Ericsson Announced its Plans to Implement Smart City Technology in Dallas Region. The Company's Smart City Technology Approach Will Enable Cities to Aggregate and Interpret Real-Time Data in Order to Monitor Traffic Lights and Other Systems. Dallas Enlisted Ericsson To Install and Host an Advanced Traffic Management System. and On 25th January, 2018 - DiDi (World’s Largest Mobile Transportation Platform) Introduced its Smart Transportation Solution for Traffic Management, called “DiDi Smart Transportation Brain”. More than 20 Chinese Cities Have Embraced the DiDi Smart Transportation Brain, Which Is Driven by Three Main Features: Discover, Decide, And Deploy
Key Target AudienceAdvanced Traffic Management Solution Providers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Advanced Traffic Management for Smart Cities Market?
"Increasing Number of Smart City Projects
" is seen as one of major growth factors of Advanced Traffic Management for Smart Cities Market in years to come.
2. Can we have customized study for Advanced Traffic Management for Smart Cities Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Advanced Traffic Management for Smart Cities Market?
will lead the Advanced Traffic Management for Smart Cities Market.