Europe Traffic Management Market
is predicted to
proliferate during the forecast period due to the rapid growth in
digitalization and increasing adoption of advanced technologies by enterprises
to meet the need for growing business along with the increase in adoption of
drones in commercial & government applications. As traffic congestion has
become a major problem nowadays. The increasing traffic jams have severely
impacted the lives of citizens. Traffic management gives businesses the
opportunity to improve air quality by reducing air pollution generated from slow-moving
traffic, maintaining the traffic speed control and reducing delays in public
transport. Additionally, rise in demand for real-time traffic information to
drivers and passengers are increasing the demand for traffic management across
the region. In an effort to maintain traffic flow and safety management,
businesses are increasingly utilising smart traffic management solutions to
control traffic and monitor the performance to reduce infrastructure damage.
Numerous innovations carried out in cloud computing and 5G infrastructure
technologies are expected to enhance the features of traffic management. This,
in turn, is expected to drive market growth during the forecast period.
Traffic management is the process of
prioritizing, shaping, and routing network traffic to ensure critical
applications remain available. Traffic management is the process of identifying
different circumstances in which traffic control and guidance are necessary, as
well as the execution of efficient processes, such as traffic control, to
safely regulate and guide traffic with the fewest possible disruptions and
delays. The design, evaluation, and execution of traffic control plans at
construction sites and civil infrastructure projects is referred to as traffic
control management. Traffic management consists of traffic flow management and
road safety management using static and dynamic vehicular clouds. The increasing
adoption of traffic management in transportation and logistics due to rising
IoT trend, growing need among organization to simplify network management and
the growth in consumer demand for increasing business agility and
responsiveness have led to increase in service demand. Furthermore, traffic
management is gaining popularity as businesses are facilitating critical
applications through reliable and high-performance connections. The use of traffic
management enables organizations to deliver timely services at reduced costs.
Increase in Adoption of Drones in
Commercial & Government Applications
The major factors driving the growth of Europe
traffic management market are increase of UAVs and drones in commercial
appliances primarily in logistics & transportations, greater demand of
drone surveillance in military and armed forces and drone monitoring in
agriculture and forestry. As companies find more innovative ways to gather
information to improve logistics. With this tremendous growth in the deployment
of the drones, the integration of the harmonized traffic management system is
likely to escalate for real-time monitoring across the region. Despite, there
will be a need of more advance and successful UTM system to facilitate growth
in the elevated mobility market, streamline operations and ensure public safety
and security. For instance, The European Aviation Safety Agency (EASA) is
working on finalizing the first EU rules for all types of unmanned aircraft
vehicles. At present, EASA only has regulations for unmanned aircraft above 150
kilograms.
In-addition, in November 2022, The
European economic and social committee and the committee of the regions has adopted
the the Drone Strategy 2.0 for a smart and sustainable unmanned aircraft
eco-system to improve the airspace capabilities, facilitate aerial operations,
and assist in developing air mobility. The European union and the associations
has set out the clear vision for the development of the drone sector that will
further provide the foundation for the next steps at EU level to develop a
thriving viable drone eco-system in the Union by 2030. Moreover, businesses
across all verticals have started realizing the upsides of cost efficiency,
time saving, and technological advancements that drones can weave into a
business. This has led to a significant increase in usage, experiments, and
trials of UAVs by the government and enterprises across sectors. Therefore, the
increase in adoption of drones in commercial & government applications are
attributing the demand of europe traffic management in the forecasting period.
Increasing Focus on Existing Traffic
Upgradation
The current surge in traffic due to the
high adoption of vehicles in Europe has increased the demand for effective
traffic management with security and safety, which has caused businesses to
reevaluate their traffic control systems. An effective traffic management
system is becoming increasingly popular among countries that are eager to
embrace congestion-free traffic. Enterprises are enabling smart traffic
management system to centralize the control function to moderate traffic
conditions by analyzing real-time traffic situations, improvising traditional
ticketing with an automated E-bill payment system, congestion-free traffic and
help in eradicating pollution. This has provided the edge for several
applications performance and offers a high-quality user experience which has
contributed the growth in business productivity, agility, and controlling the
infrastructure costs.
Moreover, the integration of intelligence
to monitor and manage traffic, are intelligent insights and solutions for
current problems through a few modifications and technology integrations
providing an overall level of traffic management and greenhouse gas (GHG)
emissions. For instance, Pittsburgh installed the Surtrac technology from
Rapid Flow Technology at 50 crossings around the city. The decentralized
system detects vehicle traffic using a combination of video detection and
radar, adjusting signals in real-time with software powered by artificial
intelligence. The adoption has had significant results, including a 26%
reduction in travel times, a 41% decrease in junction wait times, and a 21%
reduction in car emissions. Therefore, increasing focus on existing traffic
upgradation are expected to grow the adoption of traffic management solutions
in the Europian market.
Digitalization and Increasing Adoption of
Advanced Technologies Drive the Market Growth
The rising adoption of advanced
technologies and growing digitalization are propelling the growth of the
traffic management market across the region. The involvement of enterprise in
adopting artificial intelligence (AI), machine learning (ML) and virtual reality
(VR) applications during IT process requires enhanced network capacity.
In many companies, improving the
efficiency of platforms and apps used by businesses for marketing, social
media, and e-commerce initiatives is one of the main goals of digital transformation.
Moreover, traffic management is helping enterprises save money and enable more
flexible real-time approach by increasingly digitizing need for various network
processes for connectivity. By replacing expensive MPLS lines with internet
connections, enterprises can reduce costs by up to 80%. Furthermore, users can
connect from everywhere to predict the traffic due to effective traffic
management system, allowing customers to stay connected when travelling for
work from another location. Thus, growing digitalization and increasing
adoption of advanced technologies are driving the growth of europe traffic
management market in the forecast period.
Rise in Demand for Real-Time Traffic
Information to Drivers and Passengers
The massive adoption of real-time traffic
information system by the passengers and drivers for data monitoring, measuring
traffic-flow and other use cases concerns have spurred the growth in traffic
management market in Europe. Intelligent Transportation systems (ITS) are being
utilized to suggest real-time traffic status systems as an effective solution
to apply traffic control strategies that provides drivers with traffic
information. These technologies including smart cameras, GPS, sensors, and other
devices helps to reduce the congestion and major traffic issues. Moreover, the
enterprises of varied countries are integrating advance technologies with
traffic management solutions to collect the information locally without missing
anything to improve efficiency in various situations including mobility and
road transport. For instance, since the outbreak of Covid’19, Dutch railway
operators (NS) have started motivating travelers to reserve their seats or let
the operators know about their trips via the applications. Using the
real-time information, the travelers can check whether it is favorable to
travel in peak hours or not. Furthermore, the Mobility as a Service (MaaS)
platform further makes it possible to provide various modes of transport
services on demand allowing the implementation of traffic management solutions,
supporting the growth of the traffic management market in Europe.
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Market Segmentation
The Europe Traffic Management Market is
segmented based on component, deployment mode, application, and region. Based
on component, the market is segmented into hardware, software, and service.
Based on hardware, the market is further segmented into sensors, surveillance
cameras, display boards, and others. Based on software, the market is further
segmented into route guidance, smart signaling, traffic analytics, video
analytics software, and video management software. Based on service, the market
is further segmented into integration service, engineering service, maintenance
& support service, and consulting services. Based on deployment mode, the
market is segmented into on-premises and cloud. Based on application, the
market is bifurcated into adaptive traffic control system (ATCS), dynamic
traffic management system (DTMS), incident detection and location system (IDLS),
journey time measurement system (JTMS), predictive time modelling system
(PTMS), and urban traffic management and control system (UTMCS).
Market Player
Major
market players in the Europe traffic management market are Siemens AG, Swarco, Inc., Kapsch TrafficCom AG, TomTom
N.V., Cubic Corporation, Dynniq Group B.V., Thales Group, Atkins Global, Savari
Inc., PTV Group and others.
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Attribute
|
Details
|
|
Base Year
|
2022
|
|
Historic Data
|
2018 –
2021
|
|
Estimated Year
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2023
|
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Forecast Period
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2024
– 2028
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|
Quantitative Units
|
Revenue in USD Million and CAGR for 2018-2022 and 2024-2028
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Report coverage
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Revenue
forecast, company share, growth factors, and trends
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|
Segments covered
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Component
Deployment Mode
Application
End-User
Region
|
|
Regional scope
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Europe
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|
Country scope
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Germany, United Kingdom, France, Italy, Spain, Austria, Norway
|
|
Key companies profiled
|
Siemens
AG, Swarco, Inc., Kapsch TrafficCom AG, TomTom N.V., Cubic Corporation,
Dynniq Group B.V., Thales Group, Atkins Global, Savari Inc. and PTV Group.
|
|
Customization scope
|
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
|
|
Pricing and purchase options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
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Delivery Format
|
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
|
Report Scope:
In this report, the Europe content delivery network
market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
·
Europe Traffic Management Market, By Component
o Hardware
§
Display
Boards
§
Sensors
§
Surveillance
Camera
§
Others
o Software
§
Route Guidance
§
Smart
Signaling
§
Video
Analytics Software
§
Video
Management Software
§
Traffic
Analytics
o Service
§
Installation
& System Integration
§
Engineering
Services
§
Support
Service & Maintenance
§
Consulting
Services
·
Europe Traffic Management Market, By Deployment Mode
o
On-Premises
o
Cloud
·
Europe Traffic Management Market, By Application
o
Urban Traffic Management and Control (UTMC) System
o
Adaptive Traffic Control System (ATCS)
o
Journey Time Measurement System (JTMS)
o
Predictive Traffic Modeling System (PTMS)
o
Incident Detection and Location System (IDLS)
o
Dynamic Traffic Management System (DTMS)
·
Europe Traffic Management Market, By Region:
o United Kingdom
o Germany
o France
o Italy
o Spain
o Austria
o Norway
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in the europe traffic management market.
Available Customizations:
Europe traffic
management market report with the given market data, Tech
Sci Research offers customizations according to a company's specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
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