Asia Pacific Traffic Management Market - Segmented By Component (Hardware (Display Boards, Sensors, Signal Lights, Cameras, Controllers, Others), Software (Control Room Software, Video Management Software, Traffic Signal Control Software, ANPR Software, Sign Control Software, Others) and Services (Installation & System Integration, Engineering Services, Support & Maintenance, Consulting)), By Syst
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationAsia Pacific Traffic Management Market - Segmented By Component (Hardware (Display Boards, Sensors, Signal Lights, Cameras, Controllers, Others), Software (Control Room Software, Video Management Software, Traffic Signal Control Software, ANPR Software, Sign Control Software, Others) and Services (Installation & System Integration, Engineering Services, Support & Maintenance, Consulting)), By Syst
Asia Pacific Traffic Management market is driven by various factors such as rising demand for real-time traffic information for drivers and passengers. As the necessity of digitization takes hold, businesses are rapidly becoming more mobile, and technology are being emerged as the primary enabler of excellence. Due to the rising acceptance of cutting-edge technology, such as 5G infrastructure and analytics software, customers are now better equipped to implement advanced traffic management solutions. additionally, growing adoption of smart cities and the developing urbanisation in emerging nations, end users deploy traffic management systems like predictive analytics and diagnostics analytics to analyse the data across the region. Traffic management also supports businesses by assisting them in providing advanced solutions for reducing traffic congestions, improving overall traffic efficiency, and enhancing the safety of the transportation systems. This is done by connecting regulators & businesses, performing real-time risk analysis, accurately predicting failures while safeguarding consumer interests and maintaining traffic control capabilities across the Asia-Pacific region. Additionally, increasing governments initiatives and investment in research and development programs for infrastructural development are the increase in demand for efficient traffic management solutions and services are some of the key driving factors leading to the growth of the Asia Pacific traffic management market in the forecast period.
Traffic management is the process of prioritizing, shaping, and routing network traffic to ensure that critical applications remain found at. The process of determining situations in which traffic control and guidance are required, as well as the implementation of effective procedures, such as traffic control, to safely regulate and guide traffic with the least amount of interruption and delay, is known as traffic management. Traffic control management refers to the planning, monitoring, and use of traffic control strategies at civil infrastructure projects and construction sites. Static and dynamic vehicular clouds are used in traffic management to regulate traffic flow and provide a safe driving environment. The developing IoT trend, the growing requirement for organizations to simplify network administration, the rise in customer demand for more business agility and responsiveness, and the increased use of traffic management in logistics and transportation, have all contributed to an increase in service demand. Furthermore, as companies enable crucial applications through dependable and high-performance connections, traffic management is becoming more and more common. Traffic management allows businesses to provide on-time services at lower rates.
Increasing Focus on Existing Traffic Upgradation
The current surge in traffic due to high adoption of vehicles in Asia Pacific has increased the demand for effective traffic management with security and safety, causing businesses to reevaluate their traffic control systems. Many countries seeking to adopt congestion-free transportation are increasingly embracing an efficient traffic management system. Businesses are using intelligent traffic management systems to centralize the control function to regulate traffic circumstances by analyzing real-time traffic conditions, innovating traditional ticketing with an automated E-bill payment system, congestion-free traffic, and assisting in the eradication of pollutants. This has given few applications an advantage in terms of performance and provides a high-quality user experience, both of which have helped to increase corporate productivity, agility, and cost management. Moreover, through a few adjustments and technological integrations, may provide smart insights and solutions for present problems, resulting in an overall level of traffic management and greenhouse gas (GHG) emissions. For instance, ancient city of Xi'an installed the smart traffic management system around the city to make the flow of traffic smoother. The decentralized system detects vehicle traffic using a combination of video detection and radar, adjusting signals in real-time with software powered by artificial intelligence. The adoption has had significant results, including a 26% reduction in travel times, a 41% decrease in junction wait times, and a 21% reduction in car emissions. Therefore, increasing focus on existing traffic upgradation are expected to grow the adoption of Asia Pacific traffic management in the market.
Growth and Expansion of E-Commerce Industries
E-commerce industries in Asia-pacific are continuously expanding in response to the change in consumer behavior. The rapid expansion of the market requires the interaction between businesses that serve online content to the customers. As majority of e-commerce business are mobile, industries and associated retailers heavily rely on traffic management services to manage business approach serving Asia Pacific audience, ensuring all customers with a pleasant user experience, regardless of the location to resolve with modern IT architecture. Traffic Management is bridging the gap between IT and businesses by improving agility, efficiency and quickly delivering IT resources at an affordable cost. Utilizing the traffic management services enables businesses to offer a better edge to ecommerce industries advancing their industrial automation across various organizations. Enterprises such as YOTTAA are offering deep, real-time traffic visibility, including specific global location, device type, browser, and error codes. These solutions are enabling real-time visibility into where eCommerce traffic is coming from, giving user the ability to better understand and manage site traffic. The connected supply chain, business operations, and seamless transactions on mobile and desktop devices’ process, depend heavily on connected and smart items. The development of traffic management services made it possible for e-commerce to use such applications for increasing reliability, reduced network latency, analyzing data in real-time, and resilience against cyber-attacks. Thus, these factors are anticipated to drive the demand of traffic management in the Asia Pacific market.
Rise in Demand for Real-Time Traffic Information to Drivers and Passengers
Traffic management has expanded in the Asia Pacific market because of the widespread use of real-time traffic information systems by passengers and drivers for data monitoring, assessing traffic-flow, and other use cases. Real-time traffic status systems are advocated by smart transportation systems (ITS) as a practical way to implement traffic control tactics that alert drivers of traffic conditions. Smart cameras, GPS, sensors, and other technological advancements, help to lessen traffic congestion and other serious problems. Additionally, businesses from many nations are combining cutting-edge technology with traffic management options to gather data locally without omitting anything and increasing efficiency in a variety of situations, including mobility and road transport. The real-time information allows travelers to choose whether it is advantageous to go during peak hours or not. Additionally, the Mobility as a Service (MaaS) platform is enabling the installation of traffic management systems and expanding the market for traffic management in the Asia Pacific region.
Surge in Development of Smart Cities
The increased development for smart cities infrastructure is likely to drive the expansion of the traffic management market over the forecast period. Smart Traffic Management System (STMS) is a one of the important features for smart city. Smart mobility is a crucial element in recognizing the objective of smarter cities. Nations are striving hard to employ smart technology more quickly to accomplish sustainable development objectives. Advanced traffic management systems are becoming more popular because of increased government investments in smart city projects. . To increase mobility and safety, these smart technologies are utilized in smart cities to connect people, infrastructure, public transportation, and automobiles. For instance, cities like Chandigarh in India are already using smart traffic management systems, where traffic is monitored in real-time, allowing the city to broadcast information about current travel times on roads by suggesting the best route. Furthermore, many cities in the Asia Pacific regions are upgrading their smart traffic system to capture more road rule violations including riding without helmet, triple riding, zebra crossing violations, taking wrong turns, and use of mobile phone while driving or riding. The enterprise solutions such as SCATS®, Digi TX54, Cubic Trafficware, and many more are being launched to upgrade communications’ infrastructure and optimize traffic data systems, in a fast and cost-effective way. Thus, the rising demand for developing smart cities throughout the world is expected to grow the Asia Pacific traffic management market in the forecast period.
Increasing Urbanization, Number of Vehicles, and Inadequate Infrastructure
The recent increase in urban population and the speed of urbanisation have resulted in massive traffic because more people are now travelling and more smart devices are being used, which is significantly slowing down requests and processing time. Over the years, the adoption of traffic management strategies in the transportation infrastructure is the most practical way to address this issue because accident instances are now more prevalent. It offers the ability to process data in real time at exceptional speeds and enables enhanced user experiences. For instance, Asia- Pacific region is home to 60 per cent of the world's population. As per the United Nations, in 2023 the total Asia Pacific population is 4.7 billion and is prospected to grow further in the recent years. Furthermore, the presence of inadequate infrastructure in most of the developing nations are allowing service providers to offer innovative traffic management solutions for traffic congestions, especially in highly populated areas, propelling the growth of traffic management market in the forecast period.
Market Segments
The Asia Pacific Traffic Management Market is divided into component, system, end-user, and region. Based on component, the market is segmented into hardware, software and service. Further, the hardware sub-segment is bifurcated into display boards, sensors, signal lights, cameras, controllers, and others. Similarly, the software sub-segment is bifurcated into control room software, video management software, traffic signal control software, ANPR software, sign control software, and others. also, the services sub-segment is bifurcated into installation & system integration, engineering services, support & maintenance, and consulting. Based on system, the market is segmented into Urban Traffic Management and Control (UTMC) System, Adaptive Traffic Control System (ATCS), Journey Time Measurement System (JTMS), Predictive Traffic Modeling System (PTMS), Incident Detection and Location System (IDLS) and Dynamic Traffic Management System (DTMS). Additionally, based on end-user segment is categorized into healthcare & life sciences, BFSI, retail & consumer goods, manufacturing, IT & telecommunication, media & entertainment, government & public sector, and others. Based on region, the market is divided into China, Japan, South Korea, India, Australia, Singapore, Malaysia, Indonesia, Vietnam, New Zealand
Market Players
Major market players of Asia Pacific traffic management market are AXIS COMMUNICATIONS AB, SGS SA, SNC-Lavalin Group, Cisco Systems, Inc., Cubic Corporation, Teledyne FLIR LLC, Siemens AG, Dahua Technology Co., Ltd., IBM Corporation, Hangzhou Hikvision Digital Technology Co., Ltd. and many more.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report coverage | Revenue forecast, company share, growth factors, and trends |
| Segments covered | Component S Hardware S Software S Services System End-User Country |
| Regional scope | Asia Pacific |
| Country scope | China, Japan, South Korea, India, Australia, Singapore, Malaysia, Indonesia, Vietnam, New Zealand |
| Key companies profiled | AXIS COMMUNICATIONS AB, SGS SA, SNC-Lavalin Group, Cisco Systems, Inc., Cubic Corporation, Teledyne FLIR LLC, Siemens AG, Dahua Technology Co., Ltd., IBM Corporation, Hangzhou Hikvision Digital Technology Co., Ltd. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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