Europe Traffic Management Market By Component (Hardware (Sensors, Surveillance Camera, Display Boards, Others), Software (Route Guidance, Smart Signaling, Traffic Analytics, Video Analytics Software, Video Management Software), Service (Integration Servic

Europe Traffic Management Market By Component (Hardware (Sensors, Surveillance Camera, Display Boards, Others), Software (Route Guidance, Smart Signaling, Traffic Analytics, Video Analytics Software, Video Management Software), Service (Integration Service, Maintenance & Support Service, Consulting Services)), By Deployment Mode (On-premises, Cloud), By Application (Adaptive Traffic Control System (ATCS), Dynamic Traffic Management System (DTMS), Incident Detection and Location System (IDLS), Journey Time Measurement System (JTMS), Predictive Time Modelling System (PTMS), and Urban Traffic Management and Control System(UTMCS)), By Country, Competition, Forecast and Opportunities, 2028

Europe Traffic Management Market is predicted to proliferate during the forecast period due to the rapid growth in digitalization and increasing adoption of advanced technologies by enterprises to meet the need for growing business along with the increase in adoption of drones in commercial & government applications. As traffic congestion has become a major problem nowadays. The increasing traffic jams have severely impacted the lives of citizens. Traffic management gives businesses the opportunity to improve air quality by reducing air pollution generated from slow-moving traffic, maintaining the traffic speed control and reducing delays in public transport. Additionally, rise in demand for real-time traffic information to drivers and passengers are increasing the demand for traffic management across the region. In an effort to maintain traffic flow and safety management, businesses are increasingly utilising smart traffic management solutions to control traffic and monitor the performance to reduce infrastructure damage. Numerous innovations carried out in cloud computing and 5G infrastructure technologies are expected to enhance the features of traffic management. This, in turn, is expected to drive market growth during the forecast period.

Traffic management is the process of prioritizing, shaping, and routing network traffic to ensure critical applications remain available. Traffic management is the process of identifying different circumstances in which traffic control and guidance are necessary, as well as the execution of efficient processes, such as traffic control, to safely regulate and guide traffic with the fewest possible disruptions and delays. The design, evaluation, and execution of traffic control plans at construction sites and civil infrastructure projects is referred to as traffic control management. Traffic management consists of traffic flow management and road safety management using static and dynamic vehicular clouds. The increasing adoption of traffic management in transportation and logistics due to rising IoT trend, growing need among organization to simplify network management and the growth in consumer demand for increasing business agility and responsiveness have led to increase in service demand. Furthermore, traffic management is gaining popularity as businesses are facilitating critical applications through reliable and high-performance connections. The use of traffic management enables organizations to deliver timely services at reduced costs.

Increase in Adoption of Drones in Commercial & Government Applications

The major factors driving the growth of Europe traffic management market are increase of UAVs and drones in commercial appliances primarily in logistics & transportations, greater demand of drone surveillance in military and armed forces and drone monitoring in agriculture and forestry. As companies find more innovative ways to gather information to improve logistics. With this tremendous growth in the deployment of the drones, the integration of the harmonized traffic management system is likely to escalate for real-time monitoring across the region. Despite, there will be a need of more advance and successful UTM system to facilitate growth in the elevated mobility market, streamline operations and ensure public safety and security. For instance, The European Aviation Safety Agency (EASA) is working on finalizing the first EU rules for all types of unmanned aircraft vehicles. At present, EASA only has regulations for unmanned aircraft above 150 kilograms.

In-addition, in November 2022, The European economic and social committee and the committee of the regions has adopted the the Drone Strategy 2.0 for a smart and sustainable unmanned aircraft eco-system to improve the airspace capabilities, facilitate aerial operations, and assist in developing air mobility. The European union and the associations has set out the clear vision for the development of the drone sector that will further provide the foundation for the next steps at EU level to develop a thriving viable drone eco-system in the Union by 2030. Moreover, businesses across all verticals have started realizing the upsides of cost efficiency, time saving, and technological advancements that drones can weave into a business. This has led to a significant increase in usage, experiments, and trials of UAVs by the government and enterprises across sectors. Therefore, the increase in adoption of drones in commercial & government applications are attributing the demand of europe traffic management in the forecasting period.

Increasing Focus on Existing Traffic Upgradation

The current surge in traffic due to the high adoption of vehicles in Europe has increased the demand for effective traffic management with security and safety, which has caused businesses to reevaluate their traffic control systems. An effective traffic management system is becoming increasingly popular among countries that are eager to embrace congestion-free traffic. Enterprises are enabling smart traffic management system to centralize the control function to moderate traffic conditions by analyzing real-time traffic situations, improvising traditional ticketing with an automated E-bill payment system, congestion-free traffic and help in eradicating pollution. This has provided the edge for several applications performance and offers a high-quality user experience which has contributed the growth in business productivity, agility, and controlling the infrastructure costs.

Moreover, the integration of intelligence to monitor and manage traffic, are intelligent insights and solutions for current problems through a few modifications and technology integrations providing an overall level of traffic management and greenhouse gas (GHG) emissions. For instance, Pittsburgh installed the Surtrac technology from Rapid Flow Technology at 50 crossings around the city. 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 traffic management solutions in the Europian market.

Digitalization and Increasing Adoption of Advanced Technologies Drive the Market Growth

The rising adoption of advanced technologies and growing digitalization are propelling the growth of the traffic management market across the region. The involvement of enterprise in adopting artificial intelligence (AI), machine learning (ML) and virtual reality (VR) applications during IT process requires enhanced network capacity.

In many companies, improving the efficiency of platforms and apps used by businesses for marketing, social media, and e-commerce initiatives is one of the main goals of digital transformation. Moreover, traffic management is helping enterprises save money and enable more flexible real-time approach by increasingly digitizing need for various network processes for connectivity. By replacing expensive MPLS lines with internet connections, enterprises can reduce costs by up to 80%. Furthermore, users can connect from everywhere to predict the traffic due to effective traffic management system, allowing customers to stay connected when travelling for work from another location. Thus, growing digitalization and increasing adoption of advanced technologies are driving the growth of europe traffic management market in the forecast period.

Rise in Demand for Real-Time Traffic Information to Drivers and Passengers

The massive adoption of real-time traffic information system by the passengers and drivers for data monitoring, measuring traffic-flow and other use cases concerns have spurred the growth in traffic management market in Europe. Intelligent Transportation systems (ITS) are being utilized to suggest real-time traffic status systems as an effective solution to apply traffic control strategies that provides drivers with traffic information. These technologies including smart cameras, GPS, sensors, and other devices helps to reduce the congestion and major traffic issues. Moreover, the enterprises of varied countries are integrating advance technologies with traffic management solutions to collect the information locally without missing anything to improve efficiency in various situations including mobility and road transport. For instance, since the outbreak of Covid’19, Dutch railway operators (NS) have started motivating travelers to reserve their seats or let the operators know about their trips via the applications. Using the real-time information, the travelers can check whether it is favorable to travel in peak hours or not. Furthermore, the Mobility as a Service (MaaS) platform further makes it possible to provide various modes of transport services on demand allowing the implementation of traffic management solutions, supporting the growth of the traffic management market in Europe.

Market Segmentation

The Europe Traffic Management Market is segmented based on component, deployment mode, application, and region. Based on component, the market is segmented into hardware, software, and service. Based on hardware, the market is further segmented into sensors, surveillance cameras, display boards, and others. Based on software, the market is further segmented into route guidance, smart signaling, traffic analytics, video analytics software, and video management software. Based on service, the market is further segmented into integration service, engineering service, maintenance & support service, and consulting services. Based on deployment mode, the market is segmented into on-premises and cloud. Based on application, the market is bifurcated into adaptive traffic control system (ATCS), dynamic traffic management system (DTMS), incident detection and location system (IDLS), journey time measurement system (JTMS), predictive time modelling system (PTMS), and urban traffic management and control system (UTMCS).

Market Player

Major market players in the Europe traffic management market are Siemens AG, Swarco, Inc., Kapsch TrafficCom AG, TomTom N.V., Cubic Corporation, Dynniq Group B.V., Thales Group, Atkins Global, Savari Inc., PTV Group and others.

Report Scope:

In this report, the Europe content delivery network market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Europe Traffic Management Market, By Component
• Hardware
• Display Boards
• Sensors
• Surveillance Camera
• Others
• Software
• Route Guidance
• Smart Signaling
• Video Analytics Software
• Video Management Software
• Traffic Analytics
• Service
• Installation & System Integration
• Engineering Services
• Support Service & Maintenance
• Consulting Services
• Europe Traffic Management Market, By Deployment Mode
• On-Premises
• Cloud
• Europe Traffic Management Market, By Application
• 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)
• Dynamic Traffic Management System (DTMS)
• Europe Traffic Management Market, By Country:
• United Kingdom
• Germany
• France
• Italy
• Spain
• Austria
• Norway

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the europe traffic management market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without printing rights