Traffic Management Systems Market: Market Trends and Key Developments
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. Transportation systems play an important role in a country’s economic and social development. Metropolitan cities around the world are facing a challenge from increasing traffic jams due to continuous increase in population, increase in vehicle ownership, and limited road networks. This results in increased fuel wastage, traffic time, and monetary losses. Obtain Report Details @ http://www.transparencymarketresearch.com/traffic-management-systems-market.html Aggressive demand for traffic management solutions is expected from emerging countries such as India, China, and Brazil due to rapidly increasing congestion issues in their major cities. 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. Lack of uniform and standardized technology in traffic management is a key factor restraining market growth. Further, 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. 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. Make an Enquiry@ http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=27539 The traffic management systems market by hardware has been segmented into sensors, display board, surveillance cameras and others. The sensors segment is further segmented into speed sensor, vehicle detection over the next few years. High adoption of traffic management systems