28-Apr-2021 | Market Research Store
Findings from Market Research Store report “Adaptive Traffic Control System Management Market By Type (SCATS, OPAC, SCOOT, RHODES, and Others), Component Type (Hardware, Software, and Services), and By Application (Highways and Urban Cities): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global demand for Adaptive Traffic Control System Management Market in 2019 was approximately USD 2,200 Million. The market is anticipated to grow at a CAGR of 14.2% and is anticipated to reach around USD 6,300 Million by 2026.
Carbon waste increased noise emissions, and increased traffic deaths will all result from the growing number of on-road vehicles, which is expected to exceed 2 billion by 2040. As a result, heavy traffic density in many cities around the world necessitates an effective and reliable traffic planning and management scheme. Governments all over the world are making significant investments and launching a number of projects to promote numerous improvements in traffic control and management infrastructure. The implementation of traffic management systems aids in the real-time analysis and response to traffic-related data. These systems provide a significant opportunity for the industry to create advanced IT technologies that aid in the efficient management of traffic flow while also improving pedestrian safety and security. As a result, rising urbanization and high demographic rates are boosting the global adaptive traffic control system industry.
To mold the development of futuristic developing towns and communities, developed regions are focused on the introduction of emerging technology. The growing importance of smart city construction and urban planning solutions is opening up a slew of possibilities for industry participants to create innovative traffic management systems. In addition, policymakers are concentrating on infrastructure construction, which complements the extension of the vehicular network and has a significant impact on the progress of a smart city. Furthermore, due to the increasing population and urbanization rate, the global road infrastructure industry is expanding at a rapid rate. The adaptive traffic control system market is increasing due to rising government infrastructure spending and rapidly expanding road networks in all countries. The need for adaptive traffic control systems is being fueled by investments in smart transportation networks in numerous potential countries, as well as improvements to existing infrastructure. Infrastructure improvements, the rise of smart cities, and the growing use of smart traffic control systems are all driving global demand. Several major governments are working on tunnel projects to increase road traffic and shorten travel times. The intelligent traffic management system industry is soaring owing to its long list of benefits, but the he lack of public knowledge about the various benefits of smart traffic management systems, on the other hand, could stymie the market's expansion.
Key players operating in the adaptive traffic control system management Market are Aldridge Traffic Controllers Pty Limited, IBM Corporation, Onnyx Electronisys Pvt. Ltd., Siemens AG, Cubic Corporation, Atkins Group, EFKON India Private Limited, , Efftronics Systems Pvt. Ltd., Kapsch TrafficCom AG, TransCore Atlantic LLC, CMS Computers Limited, Johnson Controls, Swarco Holding, Analog & Digital Labs, Digicon S/A, and IntelliVision. For instance, In October 2019, for example, Iteris and Cisco agreed to become the latter's solution development control system partner for Cisco transportation IoT applications. As part of the agreement, Cisco's hardware and software will be incorporated into Iteris' smart transportation networks.
Browse the full “Adaptive Traffic Control System Management Market By Type (SCATS, OPAC, SCOOT, RHODES, and Others), Component Type (Hardware, Software, and Services) and By Application (Highways and Urban Cities): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.marketresearchstore.com/market-insights/adaptive-traffic-control-system-management-market-828585
Due to the introduction and application of emerging technology in traffic control systems, Europe will lead the adaptive traffic control system management market from 2020 to 2026. Because of the existence of developed countries such as Germany and France, as well as favorable attitudes toward IoT due to its numerous benefits, as well as other regulatory benefits, the presence of new digital infrastructure, and a strong emphasis on road safety, the industry in the region has flourished. Due to the participation of the largest manufacturers in the automotive industry, as well as the growth of cities in countries such as Bangladesh, China, India, and Vietnam, the Asia-Pacific region is projected to expand at the fastest pace. For instance, Siemens Mobility planned to buy Aldridge Traffic Controllers Pty Limited, a SCATS traffic controller provider, in October 2020. (ATC). Siemens Mobility ITS will be able to improve its core market, gain access to new markets, and extend its reach as a result of the purchase.
The COVID-19 outbreak has harmed the electronics supply chain and manufacturing, including the hardware component of adaptive traffic control systems. Because of the global spread of COVID-19, which culminated in lockdowns, industry experts predict that the telecom equipment supply chain would be at least a quarter behind schedule. The electronics equipment industry is projected to accelerate as policymakers around the world increasingly increase various containment measures in order to revive the economy. Demand for electronics equipment is projected to rise starting in 2021, resulting in a boost in electronics equipment production, including hardware components for adaptive traffic control systems.
This report segments the adaptive traffic control system management market as follows:
Global Adaptive Traffic Control System Management Market: By Type Segmentation Analysis:
Global Adaptive Traffic Control System Management Market: By Component Type Segmentation Analysis
Global Adaptive Traffic Control System Management Market: By Application Segmentation Analysis
Global Adaptive Traffic Control System Management Market: Regional Segmentation Analysis
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