Traffic Management Systems Market : Trends, Outlook and Opportunity Analysis 2025
Road authorities deploy advanced traffic management systems to maximize operation performance and reliability of all aspects of road networks such as traffic management, control, and surveillance. Traffic management systems include urban and inter-urban systems, vehicle detection systems, ramp metering systems, bridge traffic management systems, and tunnel traffic management systems. According to Texas A&M Transportation Institute, on an average, Americans spend more than 5 billion hours in traffic and purchase an extra 3 billion gallons of fuel, costing more than USD 120 billion per year. According to the European Commission’s department for Mobility & Transport, congestion costs Europe 1% of its GDP every year. Congestion costs China about 4% to 5% of its GDP. Obtain Report Details @ http://www.transparencymarketresearch.com/traffic-management-systems-market.html Some of the key factors driving the market include high growth rate of demographics as also the fact that developing countries are facing hyper urbanization. Further, availability of connectivity and hardware devices at affordable cost is another key factor driving the traffic management systems market. The emergence of IoT (Internet of Things) and the application of edge analytics in traffic management systems is a key opportunity for the traffic management system market. Make an Enquiry @ http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=27539 The traffic management systems market by software is segmented by route guidance, smart signaling, traffic analytics, and smart surveillance. The smart surveillance segment has been further segmented into video management software, video analytics by application, and video analytics. The video analytics by application segment has been further segmented into facial recognition, ANPR, incident detection, and pedestrian detection.