Traffic Management System Market to Hit $25B by 2026; Global Market Insights, Inc.

SELBYVILLE, Del., Aug. 6, 2020 /PRNewswire/ --A Global Market Insights, Inc. has recently added a new report on the traffic management system market, which estimates the market valuationA for traffic management systems will cross US $25 billion by 2026. Growing adoptionA of innovative traffic management systems, powered with technologiesA such as IoT and video analytics for effective traffic management systems, will drive market growth.The integration of video analytics into traffic management systems provides in-depth insights into daily traffic and curbs congestions while transferring information to the traffic management console. Video analytics software can be pre-installed on the central server system or built into cameras that capture real-time images. The algorithm helps to differentiate between pedestrians and vehicles, improving pedestrian safety. Analytics also helps to detect traffic velocity, thereby detecting traffic congestion precisely. The software can be used to identify and read vehicle license plate numbers that can be used for toll, traffic control, or to identify suspicious activities.RequestA a sample of this research report atA on-premise deployment model will grow at a remarkable rate in the traffic management system market over the forecast timespan. It offers benefits of low risk of data breaches and cyberattacks compared to cloud-based model. The capturing of confidential and sensitive data makes this model highly beneficial to fulfill regulatory requirements for data storage and transfer. However, the costs associated with maintaining and managing data will result in increasing demand for cloud-based solutions in the long run. Companies are rapidly adopting a cloud-based deployment model due to low infrastructure requirements and affordable costs.The adaptive traffic control market is forecast to witness significant gains in the traffic management market at the end of 2026. It is a system designed to work in response to real-time traffic scenarios. This system aims to resolve traffic congestion by enabling real-time variation of signal duration. It analyzes data pertaining to traffic at a particular time and provides instant and synchronized responses to alter the predefined signal duration. A study conducted by the Federal Highway Administration (FHWA) states that adaptive traffic signals improve travel time by 10% on an average. Advanced traffic management technologies improve road safety and reduce traffic congestions and greenhouse gas emissions.
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