(PRWEB) August 19, 2013
The report “Traffic Management Market [Solutions, Displays, Systems] - Full Pedestrian, Parking Space and Toll Management, Above Ground Pedestrian and Vehicle Detection - Global Advancements, Market Trends, Enterprise Roadmap, Market Forecasts and Analysis (2013 - 2018)” , which analyzed and studied the major market drivers, restraints, and opportunities in North America, Western Europe, CIS + Eastern Europe, Middle East and Africa, Asia-Pacific, and Latin America.
The study reports that the traffic management market is expected to grow from $ 2.58 billion in 2013 to $12.6 billion by 2018, at an estimated (Compound Annual Growth Rate) CAGR of 37.5% from 2013 to 2018.
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Traffic management is all about smartening the smart roads, highway, and bridges. This entails providing comprehensive real-time, data-driven capability for designing and implementing policies and operational strategies for traffic, public transport, and urban planning. The market for traffic management is fuelled by the advancements across the Information and Communication Technology (ICT) industry.
The traditional traffic management solutions just reduced time and money wastage due to congestion while present technologies in Traffic Management System (TMS) allow the users to plan their journeys in advance, finding the shortest route in real-time situation provides help on demand during the journey and reduces the carbon footprint; thus making commuting a hassle-free and enjoyable experience.
The report also draws the competitive landscape of the traffic management market, providing an in-depth comparative analysis of the technological and marketing strategies that the key players are adopting in order to gain an edge over their competitors. The key strategies followed by most companies in the traffic management market are new technology, customized solution and acquiring relatively small domain expert players. Some of the major players in this market are Accenture, Affiliated Computer Services Inc, Alstom SA, Cisco Systems Inc, GE Transportation, IBM, LG CNS, Schneider Electric, Siemens, and Thales.
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