The global integrated traffic system market is anticipated to grow at a CAGR of 8.8% during the forecast period (2024-2031). The factors such as the rising adoption of traffic management systems by major players in various cities are to drive the global integrated traffic systems market growth. For instance, in June 2020, Cubic Corp. has announced that its Cubic Transportation Systems (CTS) business division has been awarded a multimillion-dollar contract by the Yucatan State Government to install advanced traffic control technology in Merida, Mexico. Cubic collaborated with Vixionere SAPI de C.V. to install the Trafficware ATMS central transport management platform, controllers, and Transit Signal Priority program, which uses and integrates Cubic’s NextBus real-time platform at all project integrations. About 50 intersections have now been equipped with Cubic’s SynchroGreen Adaptive Signal Control module.
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In September 2020, Global Traffic Technologies, LLC, a traffic signal priority control systems company, has announced the launch of its smart city platform for mobility management – Opticom 360. It uses Artificial Intelligence (AI) to provide an integrated suite of fleet management applications, including vehicle location, driver performance, and a variety of options to boost productivity and safety, such as traffic signal priority control. It transforms the public sector by combining a smart city version of traffic signal priority monitoring and end-to-end fleet management capabilities on a single connected cloud network. The key features of the solution include:
- Real-time vehicle and driver monitoring
- End-to-end fleet management with a function that increases driver and fleet safety
- Through it emergency vehicles able to request a green light, which will result in a 25% quicker response time and a 70% reduction in intersection crashes
- Reduce travel time for non-emergency municipal and/or transit vehicles by allowing them to request a longer green or a shorter (opposing) red light while reducing traffic disruption.
However, transportation is a major factor for smart cities. In India, there is around 100 smart cities project and in the further second version, it is targeting to include other cities also. Thus, the key player’s adoption of traffic management systems in various cities and also installation of a new solution for a smart city is driving the growth of the market.
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Market Coverage
- Segment Covered-
o By Function
o By Hardware
o By Sensors
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Global Traffic Technologies, LLC, Cubic Corp., Sumitomo Electric Industries Ltd., SWARCO AG, IBM Corp., Kapsch Group, 3M Co., JENOPTIK Traffic Solutions UK Ltd, and Cisco Systems, Inc, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Integrated Traffic Systems Market Report Segment
By Function
- Traffic Control
- Traffic Monitoring
- Information Provisions
By Hardware
- Display Boards
- Sensors
- Surveillance Cameras
- Radars
- Smart Traffic Lights
- Interface Boards
By Sensors Type
- Infrared Sensors
- Weigh-In-Motion Sensors (Force Sensor)
- Acoustic Sensors
o Road Condition Sensors
o Visibility Sensors
o thermal Mapping Sensors
o Wind Speed Sensors
o Inductive Loop Detectors
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