According to the research report titled ‘Traffic Management System Market Size By Component By Deployment Model, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’ available with Market Study Report, global traffic management system market is anticipated to attain considerable expansion during 2020-2026.
 

Escalating number of commercial and personal vehicles coupled with rising investments towards infrastructural development of the transport sector are augmenting the growth of global traffic management system market size. For the uninitiated, traffic management systems offer services that assist in preserving traffic capacity and help in enhancing the reliability as well as safety of road transport systems. 
 

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Based on component, the sensors segment is expected to emerge as a major revenue generator for global traffic management system market by the year 2026. Increasing adoption of such sensors in traffic surveillance and monitoring systems is fostering the expansion of the segment.
 

The global traffic management system market from the video management software segment is predicted to register substantial growth during 2020-2026, owing to increasing adoption of case management solutions in the U.S., escalating demand for visual evidence in crime investigations, and rising penetration of surveillance cameras.
 

With regards to application spectrum, the urban traffic management and control system segment is expected to expand significantly over the analysis timeframe. Rising deployment of smart buses across the globe in order to meet the demand for streamlined public transport services is fueling the growth of the segment.
 

From a regional frame of reference, Latin America traffic management system industry is slated to record high CAGR through 2026. Favorable government support towards smart transport solutions in Mexico and Brazil along with the emergence of innovative technologies and new business models are propelling the expansion of the regional market.
 

The companies that shape the global traffic management system market trends are Transcore ITS, LLC, Siemens AG, Lanner Electronics Inc., Kapsch TrafficCom AG, Jenoptik AG, Iteris, Inc., International Road Dynamics Inc., INRIX, IBM Corporation, Huawei Technologies Co., Ltd., Global Traffic Technologies LLC, Garmin Ltd.,  FLIR Systems, Inc., Zhejiang Dahua Technology Co., Ltd., Cubic Corporation, Citilog S.A. (Axis AB), Cisco Systems, Inc., Cellint Traffic Solutions Ltd., Advantech Co., Ltd., and Accenture PLC.