2014-04-21 18:19:02 - Traffic Management Market: Global Market Forecasts and Analysis 2013-2018 - a new market research report on companiesandmarkets.com
The global traffic management market is suggested to have reached a value of around $2.58 billion at the start of 2013, and is forecast to grow to a total of $12.69 billion by 2018. This suggests a CAGR growth rate of around 37.5% between 2013 and 2018.
This growth is primarily due to high adoption of smart cities, transportation solutions, amongst small as well as mega cities. The growing popularity of traffic management is due to the reduction in the volume of vehicles´ travel time, connectivity´s in the modes of transportation which has helped in improving the traffic flow. The overall market revenue is estimated to be $2.58 billion in 2013; the major contributors are as follows: $955.1 million from North
America, $762.1 million from Western Europe and $499.0 million from APAC.
Traffic management reduces congestion and promotes a regular flow of traffic. Traffic management also proves to be money saving as it reduces the wastage of fuel. It decreases the carbon emissions from the vehicles and thus supports to keep our environment clean. Transport Management Systems (TMS) have been created to generate solutions for traffic management with the advancements of Information and Communication Technology (ICT).
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