Traffic management is an important aspect of any city or country. It is a combination of measures undertaken to ensure smooth traffic flow while improving the safety of the overall road transport system. Traffic management measures vary from region to region, depending on the local laws, and thus require careful planning before implementation. With an increasing number of people shifting towards the urban areas, the number of vehicles on the road is increasing significantly. Additionally, the increasing sales of four and two-wheelers globally suggest that the number of vehicles on the road will keep increasing at a good pace over the next few years. Despite a slowdown in car demand in the past few years, the growing interest in electric vehicles (EVs) is expected to exacerbate the traffic congestion in urban areas. Vehicle miles traveled (VMT) is a measure which is used extensively for planning transportation movement. Recent VMT statistics in several developed countries suggest the ever-increasing number of vehicles. Thus, managing traffic and ensuring a smooth commute is indispensable for any city’s functioning appropriately.
IBM CORPORATION; CISCO SYSTEMS, INC.; SIEMENS AG; HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.; AND DAHUA TECHNOLOGY CO., LTD. – PROMINENT MARKET PARTICIPANTS IN THE TRAFFIC MANAGEMENT MARKET
Increasing urbanization in recent years, coupled with growing ownership of private vehicles, have been leading to severe congestion in most cities across the globe. To cite an example, the population in Mumbai, India, rose from 18.5 million in 2011 to 20.4 million in 2020, while the number of private vehicles nearly doubled during that period. With a robust traffic management system comprising software, sensors, cameras, and display boards, congestion can be effectively reduced. These systems can be installed on an existing road without the requirements of infrastructural modification and thus can greatly aid in reducing congestion. Such factors are strongly driving the traffic management market forward.
IBM Corporation; Cisco Systems, Inc.; Siemens AG; Hangzhou Hikvision Digital Technology Co., Ltd.; and Dahua Technology Co., Ltd. are some of the key market players operating in the global traffic management market. The listing of key players is derived by considering multiple factors such as overall revenue, current traffic management product portfolio, geographical reach, new product launches, market initiatives, and investment in technology up-gradation, partnerships, and other market-related activities. In addition to these players, there are several other important players operating in the traffic management ecosystem, which were analyzed during the course of this market research study, such as Axis Communications AB; Cubic Corporation; SGS SA; Teledyne Flir LLC; and SNC-Lavalin Group.
Most of the market initiatives were observed in APAC and Europe region, which have a high potential of market-related products, solutions, and services. Few of the important market initiatives from the industry are mentioned below:
| Year | Development | Region |
| 2022 | Axis Communications, a network video vendor, partnered with the Australian cities of Melbourne and Geelong to convert over 300 CCTV cameras to Axis’ PTZ cameras for an unknown fee. The upgraded camera networks in the two cities will help with crime prevention, traffic control, and infrastructure planning. | APAC |
| 2021 | Dahua Technology announced the development of a comprehensive Smart Traffic Management Solution that combines video surveillance with AI, ANPR, image fusion, AR, and other cutting-edge technologies to meet the diverse needs of modern traffic enforcement and significantly improve their operation and management. | APAC |
