{"product_id":"asia-pacific-traffic-management-market-forecast-to-2028-covid-19-impact-and-regional-analysis-by-component-hardware-cameras-display-boards-and-sensors-software-cloud-and-on-premise-and-services-and-application-automatic-tolling-lane-managem","title":"Asia Pacific Traffic Management Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component [Hardware (Cameras, Display Boards and Sensors), Software (Cloud and On-Premise), and Services] and Application (Automatic Tolling, Lane Managem","description":"\u003cp\u003eAsia Pacific Traffic Management Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component [Hardware (Cameras, Display Boards and Sensors), Software (Cloud and On-Premise), and Services] and Application (Automatic Tolling, Lane Management, Parking Management, Surveillance, Traffic Signal Management, and Others)\u003c\/p\u003e\n\n\u003cp\u003eThe traffic management market in Asia Pacific is expected to grow from US$ 9,978.94 million in 2022 to US$ 20,388.52 million by 2028. It is estimated to grow at a CAGR of 12.6% from 2022 to 2028.\u003cbr\u003e\nThe region is witnessing a boom in connected devices, and several countries are investing in developing smart cities. Smart cities are technologically advanced urban areas that employ a variety of sensors and electronic methods for gathering data and utilizing it for the betterment of the locality. The Indian government plans to spend more than 6 billion on developing smart cities across the country over the next five years. Smart cities have long-term plans for managing traffic by optimizing transportation logistics and reducing congestion. Hence, along with smart cities, countries are investing in developing smart roadways to provide a safer vehicle commute.\u003cbr\u003e\nSmart roadways include different types of sensors and hardware through which multivariate data can be collected and used for traffic monitoring. It can also be shared with vehicles traveling on the road, allowing them to make informed decisions. Most major vehicle manufacturers manufacture IoT-enabled vehicles with many sensors and devices. Such sensors gather various data, including road conditions and pollution levels. With the increasing uptake of Artificial Intelligence (AI), data from different vehicles can collaborate with data from smart roadways, and meaningful insights can be obtained.\u003cbr\u003e\nData from vehicles can be utilized to understand the congestion level at specific road sections, determine the average number of vehicles present at a particular point, and estimate the traveling time for a vehicle, among others. Based on such data, lanes can be maintained accordingly, congestions can be predicted and avoided, and disruptions can be attended to promptly. Thus, the commuting time in urban areas can be lowered by 15-20%, among several other advantages. Hence, the growing adoption of smart cities and smart roadways can be expected to provide ample growth opportunities for the traffic management market.\u003cbr\u003e\nWith new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific traffic management market at a substantial CAGR during the forecast period.\u003cbr\u003e\nAsia Pacific Traffic Management Market Revenue and Forecast to 2028 (US$ Million)\u003cbr\u003e\nAsia Pacific Traffic Management Market Segmentation\u003cbr\u003e\nThe Asia Pacific traffic management market is segmented by component, application, and country. Based on component, the market is segmented into hardware, software, and services. In 2022, the hardware segment held a larger market share. On the other hand, the software superconductors segment is expected to register a higher CAGR during the forecast period.\u003cbr\u003e\nBased on hardware, the market is segmented into camera, display boards, and sensors. In 2022, the camera segment held a larger market share. On the other hand, the sensors segment is expected to register a higher CAGR during the forecast period.\u003cbr\u003e\nBased on software, the market is segmented into cloud and on-premise. In 2022, the on-premise segment held a larger market share. On the other hand, the cloud is expected to register a higher CAGR during the forecast period.\u003cbr\u003e\nBased on application, the market is segmented into automatic tolling, lane management, parking management, surveillance, traffic signal management, and others. The traffic signal management segment held the largest share in 2022. The surveillance segment is expected to register the highest CAGR in the market during the forecast period.\u003cbr\u003e\nBased on country, the market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. In 2022, China held a larger market share. On the other side, and India is expected to register a higher CAGR during the forecast period.\u003cbr\u003e\nAXIS COMMUNICATIONS AB; Cisco Systems, Inc.; Dahua Technology Co., Ltd.; IBM Corporation; Hangzhou Hikvision Digital Technology Co., Ltd.; SGS SA; Siemens AG; Teledyne FLIR LLC; Cubic Corporation; and SNC-Lavalin Group are the leading companies in the Asia Pacific traffic management market.\u003c\/p\u003e\n\n\u003cp\u003eReasons to Buy\u003c\/p\u003e\n\n\u003cp\u003eSave and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific traffic management market.\u003cbr\u003e\nHighlights key business priorities in order to assist companies to realign their business strategies\u003cbr\u003e\nThe key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific traffic management market, thereby allowing players across the value chain to develop effective long-term strategies\u003cbr\u003e\nDevelop\/modify business expansion plans by using substantial growth offering developed and emerging markets\u003cbr\u003e\nScrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the traffic management market, as well as those hindering it\u003cbr\u003e\nEnhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution\"\u003c\/p\u003e","brand":"Service Industrries","offers":[{"title":"September, 2022 \/ 155 Pages \/ MCW16271561","offer_id":47707533836594,"sku":null,"price":3600.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/asia-pacific-traffic-management-market-forecast-to-2028-covid-19-impact-and-regional-analysis-by-component-hardware-cameras-display-boards-and-sensors-software-cloud-and-on-premise-and-services-and-application-automatic-tolling-lane-managem","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}