London, 13 April 2015 – Increased demand for up-to-date, real-time traffic information has resulted in the growth of the Global Traffic Management Systems Market, which is expected to post a CAGR of 37.69 percent from 2015-2019, says research firm Technavio.
About the Report:
Passengers are demanding access to route and time information for public transit like buses, subways and trains. This is leading traffic authorities and transport agencies to embrace traffic management systems that can predict relevant traffic information through predictive analytics.
Additionally, the new Technavio report draws attention to cashless payments via smart cards and NFC enabled devices as a major market growth driver.
“There is a rise in the use of smart cards for making payments, as it reduces the time spent waiting in parking zones and toll stations. This trend is growing in emerging countries in the APAC region and Latin America, and will significantly impact the market through the projected period,” says Faisal Ghaus, Vice President of Technavio.
Furthermore, the market is witnessing an increase in the adoption of SaaS-based traffic management solutions, as they are useful for parking and traffic management, and during emergency situations.
Key Information Covered in the Report:
- Market segmentation, size and forecast through 2019
Market Growth Drivers:
- Demand for real-time information
- For a full detailed list, view our report.
Market Challenges:
- Financing schemes and structures
- For a full detailed list, view our report.
Market Trends:
- Cashless payments by smart cards and NFC-enabled devices
- For a full detailed list, view our report.
Key Vendors:
- Cellint Traffic Solutions Ltd.
- IBM Corp.
- Iteris Inc.
- Swarco AG
Other Prominent Vendors:
- Accenture
- Cambridge Systematics
- Cubic
- Decell Technologies
- Siemens
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
