What is Intelligent Traffic Systems Market Scope?
Intelligent traffic systems are used to manage traffic with cutting-edge communication and other technology to improves efficiency, safety, and transportation connectivity. This system manages traffic congestion and enhances the experience of drivers, its wireless connectivity with the infrastructure of the place will ensure the management effectively. Technologies such as low-power wide-area networks (LPWAN), 4G, and 5G are also used for various traffic management applications whether it's for security speed cameras, vehicle management, car navigation, etc.
The Intelligent Traffic Systems market study is being classified by Type (Integrated Urban Traffic Control System, Freeway Management System, Electronic Toll Collection (ETC), Advanced Public Transportation System and Others), by Application (Public Transport, Urban Traffic, Parking Management, Info-mobility, Freeway and Others) and major geographies with country level break-up.
Kapsch TrafficCom AG (Austria), Swarco Holding (Austria), Siemens AG (Germany), Thales Group (France), IBM (United States), Sumitomo Electric Industries, Ltd. (Japan), TomTom N.V. (Netherlands), FLIR Systems (United States), Hitachi, Ltd. (Japan), Fujitsu Limited (Japan), EFKON GmbH (Austria), Huawei Technologies Co., Ltd (China) and Merit LILIN Ent. Co., Ltd. (China) are some of the key players profiled in the study.
Analyst at AMA have segmented the market study of Global Intelligent Traffic Systems market by Type, Application and Region.
On the basis of geography, the market of Intelligent Traffic Systems 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).
Market Influencers and their development strategies
On 10th August 2020, Huawei launches a new Intelligent Traffic Management solution. Huawei recently held an online launch summit of the Intelligent Traffic Management solution following the theme of “Transforming the Ways We Move”. The new solution addresses the challenges faced by traffic law enforcement, traffic violation inspection, and traffic control with advanced technologies including big data, AI, cloud, 5G, and more.
On 17th October 2019, Location technology specialist, TomTom (TOM2), and Sumitomo Electric Industries, Ltd. announced a collaboration utilizing Sumitomo Electric’s expertise in intelligent transport systems and TomTom’s highly accurate real-time traffic data and high definition maps. Working together, the companies will create mobility solutions designed to improve road safety and traffic congestion.
Influencing Market Trend
- Integration of IoT, Big Data and Machine Learning in the Intelligent Traffic Systems
- Technological Advancement in the Vehicles
- Rising Spendings on Automotive Industry Worldwide
- Need for Managing the Traffic with Efficiency and Effectiveness
- Growing Urbanisation Across the world will Boost the Intelligent Traffic Systems Market
- Rising Population Around the World will Increase the Intelligent Traffic Systems Market
- Adherence to the Stringent Regulatory Compliances
- High Cost Associated with the Setting up of the Intelligent Traffic Systems
- Problems Associated with the Traffic Data Management Due to the Connectivity and Other Complexities
Key Target AudienceIntelligent Traffic Systems Developers, Intelligent Traffic Systems International Traders, Intelligent Traffic Systems Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
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