Traffic Management – A Multi-Billion Dollar Opportunity
Increasing traffic congestion, rising
vehicle and aircraft fleet size and growing technological advancements to drive
global traffic management market through 2021
According to TechSci Research
report, “Global Traffic
Management Market By Transportation Mode, By System Type, By Region,
Competition Forecast and Opportunities, 2011-2021”, the global market for traffic
management is projected to surpass $ 22 billion by 2021, due to rising demand
for traffic management in roadways, railways and airways; increasing demand for
real-time traffic monitoring for traffic control planning, incident detection,
vehicle location, route planning, journey time measurement, etc. Over the past
two years, consumer preferences have shifted towards air travel majorly due to reduction
in air fares. This is driving growth in sales of aircrafts by air companies
across regions. Various recent deals in aviation industry, such as purchase deal
of 250 Airbus planes by Indigo in 2015, purchase of 100 planes from Boeing by
Iran Civil Aviation Organisation in 2016, etc. would fuel air traffic
congestion and air traffic management market in the near future, worldwide. With growth in air-passenger traffic, it is projected that Asia-Pacific
would emerge as the fastest growing region in the air-traffic management
market, globally during 2016-21.
In
2015, 89.68 million unit sales of new vehicles were registered. According to
International Road Transportation Union, traffic congestion increases fuel
consumption, leading to increase in carbon emissions by 300%. Growth in number
of road accidents, increasing demand for parking space management, rising government
initiatives to reduce carbon emission, etc. are some of the major factors
driving the growth of the road traffic management market. It is projected that
due to robust growth in road solutions, parking space and toll management would
emerge as the fastest growing road traffic management solutions, worldwide
during 2016-21. Growth in alternative transportation mode for daily commuters,
such as metro by government of various countries’ along with modernization of
traditional railway system has propelled demand for railway traffic management
system, worldwide. Siemens, Thales, Hitachi, Alstom,
Bombardier, Cubic, Kapsch TrafficCom, Iteris, and so on are few of
the leading players in the global traffic management market.
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“Growth
in tourism industry, ease of travelling with reduced time and air-fares has
propelled growth in number of aircrafts in the air. With growth in consumer
disposable income and shift in preference towards air travel, air traffic
management is set to pose robust growth in the coming years. Further, rising concerns
towards reduction of carbon emissions due to negative impacts over the
environment and country’s economy along with growth in number of road accidents
has propelled demand for intermodal transportation planning, predictive traffic
modelling, etc. Rising demand for reducing traffic congestion across
transportation modes would propel growth of global traffic management during
the forecast period, worldwide.”, said Ms. Neha Tayal, Research Manager with
TechSci Research.
“Global Traffic Management Market By
Transportation Mode, By System Type, By Region, Competition Forecast and
Opportunities, 2011-2021” has evaluated the future growth potential
of global traffic management market and provides statistics and information on market
structure, size, share and future growth of global traffic management market.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment evaluation. Besides, the report also
identifies and analyzes emerging trends along with essential drivers,
challenges and opportunities in the global traffic management market.
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