Integrated Traffic Systems Market: Introduction
The requirement for showing ongoing traffic data to drivers and travelers is one of the key variables driving the interest for ITS integrated traffic systems.
High traffic clog because of rising number of vehicles has added to the requirement foropen traffic the executives systems. Resulting requirement for brilliant vehicles with open private associations is predicted to be a noteworthy development driver. Various activities attempted to convey propelled traffic the executives systems, for example, Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) communication is likewise anticipated to be seen as a major technique for development of methods.
Integrated Traffic Systems Market: Novel Developments
- In December 2018, McCain Inc., a subsidiary of SWARCO Group won a noteworthy 3-year contract with the City and County of San Francisco to update traffic control cabins all through the city with new cabinets embedded with Advanced Transportation Controller (ATC).
- In October 2018, Sumitomo Electric Industries, Ltd. released a pedestrian detector for Driving Safety Support Systems (DSSS) to lessen traffic mishaps. This finder has strength against different natural conditions attributable to the utilization of a 24 GHz-band mm-wave radar innovation. Furthermore, it includes high exactness in pedestrian recognition empowered by the organization's restrictive calculation and a wide discovery area.
- In January 2019, Cubic took over GRIDSMART Technologies, a market-driving, innovation driven business with a distinct video tracking offering in the integrated traffic systems market to improve its surface transport the board solution contributions.
The major players in the integrated traffic systems market are Cubic (US), Kapsch TrafficCom (Austria), Swarco (Austria), Sumitomo (Japan), Siemens (Germany), Flir Systems (US), LG CNS (Korea), Jenoptik AG (Germany), and Iteris (US). Aotehr firm, Swarco is anticipated to be a dominant player in the integrated traffic systems marketdue to popular strategies of new product development, supply contracts, and mergers & acquisitions to retain its leading position in the integrated traffic systems market. The company strengthened its product portfolio and increased its global presence by building customer relationships. It has also started to increase its presence in emerging markets.
Global Integrated Traffic Systems Market Dynamics
Mushrooming Environmental Concerns to People Market Growth
Different economies are managing the rising traffic concerns and are providing new systems that coordinates the electronic and communication technologies. Enhanced mobility for cargo and buyers including better access to transportation is anticipated to enlarge the installation of ITS systems in the forthcoming years.
Improvement in traffic the executives and crisis administrations engages specialists to rapidly react to crises and mishaps with more productivity. The use of such systems augments effectiveness in traffic the executives and abbreviates the movement term. The utilization of open transportation results in the decrease of airborne contaminations and carbon dioxide emanations.
The present constraints of street framework in developing and developed nations have filled the advancement for the existing as well as new technologies, for example, integrated traffic systems. Expanding traffic and rising population in urban territories have supported the demand for congestion free and smooth travel from the governments and travelers as well. In addition, vehicle possession ratio has expanded essentially over the globe, which has prompted an demand for traffic control capacities. For ideal use of street infrastructure, traffic control systems, for example, advanced traffic lightings and parking management are needed. Resultantly, the segment of traffic control framework is assessed to be the second biggest supporter in the global integrated traffic systems market.
Asia Pacific to Lead Integrated Traffic Systems Market Due to Rapid urbanization
On the basis of regions, Asia Pacific integrated traffic systems market is evaluated to develop at the most robust CAGR in the upcoming years. The development of the Asia Pacific region is because of rapid urbanization and vehicle deals in the region, over the most recent two decades. Europe is assessed to represent the biggest market share as European nations have a solid spotlight on outflow and lesser traffic. Additionally, Europe has dependably been an early adopter of cutting edge innovations, for example, integrated traffic systems. Nations like Germany and the UK are evaluated to auger the market share in Europe in the integrated traffic systems market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.