Europe Traffic Management Market By Component (Hardware (Sensors, Surveillance Camera, Display Boards, Others), Software (Route Guidance, Smart Signaling, Traffic Analytics, Video Analytics Software, Video Management Software), Service (Integration Service, Maintenance & Support Service, Consulting Services)), By Deployment Mode (On-premises, Cloud), By Application (Adaptive Traffic Control System

Europe Traffic Management Market

Traffic management is the process of prioritizing, shaping, and routing network traffic to ensure critical applications remain found at. Traffic management is the process of identifying different circumstances in which traffic control and guidance are necessary, as well as the execution of efficient processes, such as traffic control, to safely regulate and guide traffic with the fewest possible disruptions and delays. The design, evaluation, and execution of traffic control plans at construction sites and civil infrastructure projects is referred to as traffic control management. Traffic management consists of traffic flow management and road safety management using static and dynamic vehicular clouds. The increasing adoption of traffic management in transportation and logistics due to rising IoT trend, growing need among organization to simplify network management and the growth in consumer demand for increasing business agility and responsiveness have led to increase in service demand. Furthermore, traffic management is gaining popularity as businesses are facilitating critical applications through reliable and high-performance connections. The use of traffic management enables organizations to deliver timely services at reduced costs.

Increase in Adoption of Drones in Commercial & Government Applications

The major factors driving the growth of Europe traffic management market are increase of UAVs and drones in commercial appliances primarily in logistics & transportations, greater demand of drone surveillance in military and armed forces and drone monitoring in agriculture and forestry. As companies find more innovative ways to gather information to improve logistics. With this tremendous growth in the deployment of the drones, the integration of the harmonized traffic management system is likely to escalate for real-time monitoring across the region. Despite, there will be a need of more advance and successful UTM system to facilitate growth in the elevated mobility market, streamline operations and ensure public safety and security. For instance, The European Aviation Safety Agency (EASA) is working on finalizing the first EU rules for all types of unmanned aircraft vehicles. At present, EASA only has regulations for unmanned aircraft above 150 kilograms.

In-addition, in November 2022, The European economic and social committee and the committee of the regions has adopted the the Drone Strategy 2.0 for a smart and sustainable unmanned aircraft eco-system to improve the airspace capabilities, facilitate aerial operations, and assist in developing air mobility. The European union and the associations has set out the clear vision for the development of the drone sector that will further provide the foundation for the next steps at EU level to develop a thriving viable drone eco-system in the Union by 2030. Moreover, businesses across all verticals have started realizing the upsides of cost efficiency, time saving, and technological advancements that drones can weave into a business. This has led to a significant increase in usage, experiments, and trials of UAVs by the government and enterprises across sectors. Therefore, the increase in adoption of drones in commercial & government applications are attributing the demand of europe traffic management in the forecasting period.

Increasing Focus on Existing Traffic Upgradation

The current surge in traffic due to the high adoption of vehicles in Europe has increased the demand for effective traffic management with security and safety, which has caused businesses to reevaluate their traffic control systems. An effective traffic management system is becoming increasingly popular among countries that are eager to embrace congestion-free traffic. Enterprises are enabling smart traffic management system to centralize the control function to moderate traffic conditions by analyzing real-time traffic situations, improvising traditional ticketing with an automated E-bill payment system, congestion-free traffic and help in eradicating pollution. This has provided the edge for several applications performance and offers a high-quality user experience which has contributed the growth in business productivity, agility, and controlling the infrastructure costs.

For instance, Pittsburgh installed the Surtrac technology from Rapid Flow Technology at 50 crossings around the city.

Digitalization and Increasing Adoption of Advanced Technologies Drive the Market Growth

The rising adoption of advanced technologies and growing digitalization are propelling the growth of the traffic management market across the region. The involvement of enterprise in adopting artificial intelligence (AI), machine learning (ML) and virtual reality (VR) applications during IT process requires enhanced network capacity.

In many companies, improving the efficiency of platforms and apps used by businesses for marketing, social media, and e-commerce initiatives is one of the main goals of digital transformation. Moreover, traffic management is helping enterprises save money and enable more flexible real-time approach by increasingly digitizing need for various network processes for connectivity. By replacing expensive MPLS lines with internet connections, enterprises can reduce costs by up to 80%. Furthermore, users can connect from everywhere to predict the traffic due to effective traffic management system, allowing customers to stay connected when travelling for work from another location. Thus, growing digitalization and increasing adoption of advanced technologies are driving the growth of europe traffic management market in the forecast period.

Rise in Demand for Real-Time Traffic Information to Drivers and Passengers

For instance, since the outbreak of Covid’19, Dutch railway operators (NS) have started motivating travelers to reserve their seats or let the operators know about their trips via the applications.

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Market Segmentation

The Europe Traffic Management Market is segmented based on component, deployment mode, application, and region. Based on component, the market is segmented into hardware, software, and service. Based on hardware, the market is further segmented into sensors, surveillance cameras, display boards, and others. Based on software, the market is further segmented into route guidance, smart signaling, traffic analytics, video analytics software, and video management software. Based on service, the market is further segmented into integration service, engineering service, maintenance & support service, and consulting services. Based on deployment mode, the market is segmented into on-premises and cloud. Based on application, the market is bifurcated into adaptive traffic control system (ATCS), dynamic traffic management system (DTMS), incident detection and location system (IDLS), journey time measurement system (JTMS), predictive time modelling system (PTMS), and urban traffic management and control system (UTMCS).

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