Traffic Management Market by Solutions (ELV, Full Pedestrian, Led Signals & Retrofit Solutions, Intersection Controllers Parking Space and Toll Management), Detection (AGPVD, Loop Detection & CCTV and ANPR), & by Region - Global forecast to 2020
Report Summary : “Rapid urbanization, population explosion, and demand for real-time information are some of the factors expected to drive the growth of the traffic management system market” MarketsandMarkets expects the global traffic management system market to grow from USD 4.12 billion in 2015 to USD 17.64 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 33.8% during the forecast period. Increasing environmental concerns, rapid urbanization and population explosion, and demand for real-time information are the main drivers driving the growth of the traffic management system market. The latest trends in the traffic management market include real-time traffic management, remote monitoring system, data management, and Software as a Service (SaaS) based solutions and Internet of Things. Rapid urbanization and the emerging concept of smart cities and smart traffic have further boosted the demand for SaaS-based solutions in the traffic management system ma...