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Traffic Management Market is speculated to hit US$ 77,346.44 million by 2028

The new versatile research report on Global Traffic Management Market aims to promise a unique approach to the industrial assessment of the market covering the most important factors driving the growth of the industry. The Traffic Management Market report provides current and future technical and financial details of the industry. One of the most comprehensive and important additions to The Insight Partners market research archive. It provides detailed research and analysis of key aspects of the global market.

Most countries have witnessed drastic urbanization over the years, which has resulted in complex road networks and high congestion. The rising urban population, coupled with increasing ownership of private vehicles, increases the number of vehicles on road. The population in Mumbai, India, rose from 18.5 million in 2011 to 20.4 million in 2020, while the number of private vehicles nearly doubled during this period. Owing to such factors, and for remediating the same, traffic management market growth is estimated.

The traffic management market is projected to reach US$ 77,346.44 million by 2028 from US$ 39,756.74 million in 2022; it is expected to grow at a CAGR of 11.7% from 2022 to 2028.

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Companies Profiled in this report includes: IBM Corporation; Cisco Systems, Inc.; Siemens AG; Hangzhou Hikvision Digital Technology Co., Ltd.; and Dahua Technology Co., Ltd

Additionally, ride-hailing services from cab aggregators, such as Uber, Grab, Ola, and Lyft, have been increasing at a rapid pace. Such services have been substituting mass transit systems, leading to a surge in vehicles on the road. These factors are compelling government authorities to approach traffic management market players for effective solutions. Traffic congestion can be effectively reduced with a robust traffic management system, comprising software, sensors, cameras, and display boards. These systems can be installed on an existing road without the requirements of infrastructural modification. Similarly, a lane management system can effectively manage traffic flow by opening or closing lanes, depending on the traffic rate at each point in time. Considering the advantages offered by traffic management systems, the fast urbanization rate is expected to strongly boost the traffic management market size.


The traffic management market is segmented on the basis of component and application. Based on component, the traffic management market is segmented into hardware, software, and services. The market for hardware is further segmented into camera, display boards, and sensors; further, the market for software is bifurcated into cloud and on-premise. By application, the traffic management market is segmented into automatic tolling, lane management, parking management, surveillance, traffic signal management, and others.

Reason to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Traffic Management Market.
• Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
• The key findings and recommendations highlight crucial progressive industry trends in the Traffic Management Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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