Turkey Traffic Management Market Is Expected To Grow With High CAGR During The Forecast Period

The increasing demand for traffic management systems will drive the growth of the Turkey traffic management market during the forecast period.

According to TechSci Research report, Turkey Traffic Management Market - By Region, Competition, Forecast, and Opportunities, 2018-2028, the Turkey traffic management market is expected to register robust growth during the forecast period. The Turkey traffic management market is witnessing a period of significant growth as enterprises are increasingly adopting IoT and big data in products and services. Traffic management is a powerful tool for collecting, storing, analyzing, and visualizing spatial data. In addition, the increase in mobile device intelligence systems equipped with GPS sensors is driving the Turkey traffic management market. Moreover, the traffic management industry is expanding rapidly in the age of digitization. The nation is ideally positioned to serve as a hub for utilization of advanced technologies specializing in cloud computing technologies, including artificial intelligence, machine learning, and advanced analytical techniques. The government's initiatives, along with the efforts of various organizations like the National Drone Strategy and the Drone Industry Association of Turkey, aimed at promoting the integration of drones into both commercial and government operations, coupled with the advancement of Smart Cities initiatives, are playing a pivotal role in augmenting Turkey's investment prospects in the realm of traffic management. Such government initiatives and developments are expected to provide an additional backbone for the evolving Turkey traffic management market through 2028.

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The Turkey traffic management market is segmented primarily based on component, system, end-user, and region. Based on component, the market is segmented into hardware and sub-segmented into display boards, sensors, signal lights, cameras, controllers, and others; software, which is further segmented into control room software, video management software, traffic signal control software, ANPR software, sign control software, and others; and services into installation and system integration, engineering services, support and maintenance, and consulting. Based on system, the market is bifurcated into Urban Traffic Management and Control (UTMC) System, Adaptive Traffic Control System (ATCS), Journey Time Measurement System (JTMS), Predictive Traffic Modeling System (PTMS), Incident Detection and Location System (IDLS) and Dynamic Traffic Management System (DTMS). The end-user segment is categorized into healthcare & life sciences, BFSI, retail & consumer goods, manufacturing, IT & telecommunication, media & entertainment, government and public sector, and others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Marmara, Central Anatolia, Aegean, Mediterranean, Black Sea, South Eastern Anatolia, Eastern Anatolia.

Based on component, the software segment is expected to dominate the Turkey traffic management market. The high growth of this segment is attributed to the increasing use of traffic analysis, route guidance, smart surveillance, and smart signaling solutions for managing and increasing the efficiency of traffic volume. As the applications of traffic management are gaining popularity and has become possible due to the increasing large number of vehicles in the roads and rising urbanization. This software solution of such management systems is rapidly growing while integrating with the emerging technologies for real-time analytic benefits enabling the enterprises to adopt and implement traffic management solutions such as control room software and traffic signal control software to improve the business outcomes. Furthermore, the hardware segment is also becoming an important entity as devices such as cameras and GPS trackers are increasingly used for surveillance, traffic count, track speed and time, spot delays or inadequacies, and mark the parameters of vehicles when needed. Such factors are expected to drive the growth of the Turkey traffic management market during the forecast period.

On the basis of system, the adaptive traffic control system (ATCS) segment is expected to dominate the Turkey traffic management market. ATCS systems use sensors and cameras to monitor traffic conditions and adjust traffic signals accordingly. These systems are used to adjust the real-time traffic patterns to maximize traffic flows by dynamically changing the green split timings. As these systems help improve communities and intersections across the cities in Turkey, enterprises are utilizing this strategy to adjust the signal timings to keep traffic flow congestion free to prevent accidents and can also help to reduce traffic fatalities. Furthermore, the Turkish government is investing heavily in ATCS systems and promoting the use of ATCS systems by businesses and individuals. Such developments are propelling the higher adoption of adaptive traffic control systems, which, in turn, will fuel the demand for traffic management products and solutions during the forecast period.

Key market players in the Turkey traffic management market include: 

·         ONUR Yüksek Teknoloji A.Ş.

·         Honeywell International Inc.

·         Cisco Systems, Inc.

·         Siemens Mobility Transportation Systems Inc.

·         Indra SISTEMAS, S.A. Turkey

·         Swarco AG.

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Mediterranean region is the fastest growing region in the Turkey traffic management market. Factors such as the high population density, rapid urbanization, increasing government support such as Mediterranean Traffic Management Center (MTCM), National Traffic Management Strategy, increasing consumer awareness toward traffic management solutions, and rising expenditure in the IT & telecom industry are expected to drive the traffic management market in the country. The Turkey traffic management market is expected to grow due to the growing adoption of drones and UAV across different verticals, including IT, telecom, energy, government, healthcare, defense, and other core industries. Additionally, the increasing use of advanced technologies, coupled with the huge volume of data from various sources such as sensors, cameras, and GPS, and the presence of several cloud services providers with the growth of cloud computing services will drive the growth of the Turkey traffic management market in the coming years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Turkey Traffic Management Market - By Component (Hardware (Display Boards, Sensors, Signal Lights, Cameras, Controllers, and Others), Software (Control Room Software, Video Management Software, Traffic Signal Control Software, ANPR Software, Sign Control Software, and Others) and Services (Installation & System Integration, Engineering Services, and Support & Maintenance and Consulting)), By System ((Urban Traffic Management and Control (UTMC) System, Adaptive Traffic Control System (ATCS), Journey Time Measurement System (JTMS), Predictive Traffic Modeling System (PTMS), Incident Detection and Location System (IDLS), and Dynamic Traffic Management System (DTMS)), By End-User (Healthcare & Life Sciences, BFSI, Retail & Consumer Goods, Manufacturing, IT & Telecommunication, Media & Entertainment, Government & Public Sector, and Others), and By Region, Competition, Forecast, and Opportunities, 2008 has assessed the Turkey traffic management market's future development potential and provides data and information on market size, structure, and projected market growth. The report's goal is to give current market knowledge and assist decision makers in making informed investment decisions. Furthermore, the study identifies and analyses emerging trends, as well as key drivers, constraints, and opportunities in the Turkey traffic management market.

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