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Europe 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)
Market Report I 2022-09-22 I 154 Pages I The Insight Partners
The traffic management market in Europe is expected to grow from US$ 13,756.83 million in 2022 to US$ 27,187.27 million by 2028. It is estimated to grow at a CAGR of 12.0% from 2022 to 2028.
With the significant rise in population, the demand for better transportation facilities is also rising proportionally. It includes better road conditions, smooth traffic flow, and connectivity between different areas. Thus, various government agencies are focusing on developing their road infrastructure. Multiple projects are being regularly undertaken, across the region, to reduce connectivity woes, and are expected to include appropriate traffic management systems. Additionally, several nations focus on developing smart cities and smart roadways.
The smart roadways concept brings harmonization between the road and the vehicle. Roads are planted with different sensors, which will collect multivariate data. Such data will be exchanged with vehicles traveling on the street, thus, ensuring a safer and smoother ride. For example, sensors from the road can alert a driver about a pothole, while data from vehicles can be used to gauge the traffic level at each time point. Such multivariate data can be used to anticipate traffic disruptions, pollution levels, road conditions, and reporting accidents. Smart roadways can aid traffic management, vehicular and pedestrian safety, and environmental monitoring.
In Europe, a smart roadways project titled C-Roads project is being implemented. C-ITS (Co-operative Intelligent Transport Systems) based interconnection between roads and vehicles is intended to be created through this project. The project involves installing various sensors across the European highway network and control centers. Control centers will collect and disseminate data based on protocols, such as V2I (Vehicle to Infrastructure), V2V (Vehicle to Vehicle), and V2X (Vehicle to Everything). While connecting the European network will require additional time, several experiments have been conducted on the A22 highway connecting Italy to Germany and Austria. However, smart roadways can only succeed if all or most vehicles are IoT (Internet of Things) enabled.
Most modern vehicles are increasingly integrating IoT devices and aiding in developing smart roadway projects. Such developments are expected to boost the implementation of the Integrated Traffic Management System (ITMS) and Advanced Traffic Management System (ATMS) during the forecast period. ATMs focus on improving traffic flow and enhancing vehicular safety, while ITMS focuses on modernizing traffic management through IT (Information Technology) applications. Considering the rising expenditure on infrastructure, growing demand for safety, and increasing integration of IoT-enabled devices inside vehicles, the traffic management market can be expected to grow quickly during the forecast period.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe traffic management market at a substantial CAGR during the forecast period.
Europe Traffic Management Market Revenue and Forecast to 2028 (US$ Million)
Europe Traffic Management Market Segmentation
The Europe 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.
Based 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.
Based 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.
Based 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.
Based on country, the market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. In 2022, the UK held a larger market share. On the other side, Italy is expected to register a higher CAGR during the forecast period.
AXIS 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 Europe traffic management market.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Traffic Management Market - By Component
1.3.2 Europe Traffic Management Market - By Application
1.3.3 Europe Traffic Management Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Traffic Management Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Traffic Management Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Surging Urbanization Leading to Congestion
5.1.2 Heighten Investment in Infrastructure
5.2 Market Restraints
5.2.1 Increased cost of implementation
5.3 Future Trends
5.3.1 Raising Application of AI and ML
5.4 Impact Analysis of Drivers and Restraints
6. Europe Traffic Management Market Analysis
6.1 Europe Traffic Management Market Overview
6.2 Europe Traffic Management Market - Revenue and Forecast to 2028 (US$ Million)
7. Europe Traffic Management Market Analysis - By Component
7.1 Overview
7.2 Europe Traffic Management Market Breakdown, By Component
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: Traffic Management Market - Revenue, and Forecast to 2028 (US$ Million)
7.3.2.1 Camera
7.3.2.1.1 Overview
7.3.2.1.2 Camera: Traffic Management Market- Revenue and Forecast to 2028 (US$ Million)
7.3.2.2 Display Boards
7.3.2.2.1 Overview
7.3.2.2.2 Display Boards: Traffic Management Market- Revenue and Forecast to 2028 (US$ Million)
7.3.2.3 Sensors
7.3.2.3.1 Overview
7.3.2.3.2 Sensors: Traffic Management Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Software
7.4.1 Overview
7.4.2 Software: Traffic Management Market - Revenue, and Forecast to 2028 (US$ Million)
7.4.2.1 Cloud
7.4.2.1.1 Overview
7.4.2.1.2 Cloud Traffic Management Market- Revenue and Forecast to 2028 (US$ Million)
7.4.2.2 On-Premise
7.4.2.2.1 Overview
7.4.2.2.2 On-Premise: Traffic Management Market- Revenue and Forecast to 2028 (US$ Million)
7.5 Services
7.5.1 Overview
7.5.2 Services: Traffic Management Market - Revenue, and Forecast to 2028 (US$ Million)
8. Europe Traffic Management Market Analysis - By Application
8.1 Overview
8.2 Europe Traffic Management Market Breakdown, By Application
8.3 Automatic Tolling
8.3.1 Overview
8.3.2 Automatic Tolling Market Revenue and Forecast to 2028 (US$ Million)
8.4 Lane Management
8.4.1 Overview
8.4.2 Lane Management Market Revenue and Forecast to 2028 (US$ Million)
8.5 Parking Management
8.5.1 Overview
8.5.2 Parking Management Market Revenue and Forecast to 2028 (US$ Million)
8.6 Surveillance
8.6.1 Overview
8.6.2 Surveillance Market Revenue and Forecast to 2028 (US$ Million)
8.7 Traffic Signal Management
8.7.1 Overview
8.7.2 Traffic Signal Management Market Revenue and Forecast to 2028 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others Market Revenue and Forecast to 2028 (US$ Million)
9. Europe Traffic Management Market - Country Analysis
9.1 Overview
9.1.1 Europe Traffic Management Market Breakdown, by Country
9.1.1.1 Germany Traffic Management Market, Revenue and Forecast to 2028
9.1.1.1.1 Germany Traffic Management Market Breakdown, By Component
9.1.1.1.1.1 Germany Traffic Management Market Breakdown, By Hardware
9.1.1.1.1.2 Germany Traffic Management Market Breakdown, By Software
9.1.1.1.2 Germany Traffic Management Market Breakdown, By Application
9.1.1.2 France Traffic Management Market, Revenue and Forecast to 2028
9.1.1.2.1 France Traffic Management Market Breakdown, By Component
9.1.1.2.1.1 France Traffic Management Market Breakdown, By Hardware
9.1.1.2.1.2 France Traffic Management Market Breakdown, By Software
9.1.1.2.2 France Traffic Management Market Breakdown, By Application
9.1.1.3 Italy Traffic Management Market, Revenue and Forecast to 2028
9.1.1.3.1 Italy Traffic Management Market Breakdown, By Component
9.1.1.3.1.1 Italy Traffic Management Market Breakdown, By Hardware
9.1.1.3.1.2 Italy Traffic Management Market Breakdown, By Software
9.1.1.3.2 Italy Traffic Management Market Breakdown, By Application
9.1.1.4 UK Traffic Management Market, Revenue and Forecast to 2028
9.1.1.4.1 UK Traffic Management Market Breakdown, By Component
9.1.1.4.1.1 UK Traffic Management Market Breakdown, By Hardware
9.1.1.4.1.2 UK Traffic Management Market Breakdown, By Software
9.1.1.4.2 UK Traffic Management Market Breakdown, By Application
9.1.1.5 Russia Traffic Management Market, Revenue and Forecast to 2028
9.1.1.5.1 Russia Traffic Management Market Breakdown, By Component
9.1.1.5.1.1 Russia Traffic Management Market Breakdown, By Hardware
9.1.1.5.1.2 Russia Traffic Management Market Breakdown, By Software
9.1.1.5.2 Russia Traffic Management Market Breakdown, By Application
9.1.1.6 Rest of Europe Traffic Management Market, Revenue and Forecast to 2028
9.1.1.6.1 Rest of Europe Traffic Management Market Breakdown, By Component
9.1.1.6.1.1 Rest of Europe Traffic Management Market Breakdown, By Hardware
9.1.1.6.1.2 Rest of Europe Traffic Management Market Breakdown, By Software
9.1.1.6.2 Rest of Europe Traffic Management Market Breakdown, By Application
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
10.4 Merger and Acquisition
11. Company Profiles
11.1 AXIS COMMUNICATIONS AB
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Cisco Systems, Inc.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Cubic Corporation
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Dahua Technology Co., Ltd.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 IBM Corporation
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Hangzhou Hikvision Digital Technology Co., Ltd.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 SGS SA
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.8 Siemens AG
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Teledyne FLIR LLC
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 SNC-Lavalin Group
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Europe Traffic Management Market - Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe Traffic Management Market, by Country - Revenue and Forecast to 2028 (USD Million)
Table 3. Germany Traffic Management Market, by Component - Revenue and Forecast to 2028 (USD Million)
Table 4. Germany Traffic Management Market, by Hardware - Revenue and Forecast to 2028 (USD Million)
Table 5. Germany Traffic Management Market, by Software - Revenue and Forecast to 2028 (USD Million)
Table 6. Germany Traffic Management Market, by Application - Revenue and Forecast to 2028 (USD Million)
Table 7. France Traffic Management Market, by Component - Revenue and Forecast to 2028 (USD Million)
Table 8. France Traffic Management Market, by Hardware - Revenue and Forecast to 2028 (USD Million)
Table 9. France Traffic Management Market, by Software - Revenue and Forecast to 2028 (USD Million)
Table 10. France Traffic Management Market, by Application - Revenue and Forecast to 2028 (USD Million)
Table 11. Italy Traffic Management Market, by Component - Revenue and Forecast to 2028 (USD Million)
Table 12. Italy Traffic Management Market, by Hardware - Revenue and Forecast to 2028 (USD Million)
Table 13. Italy Traffic Management Market, by Software - Revenue and Forecast to 2028 (USD Million)
Table 14. Italy Traffic Management Market, by Application - Revenue and Forecast to 2028 (USD Million)
Table 15. UK Traffic Management Market, by Component - Revenue and Forecast to 2028 (USD Million)
Table 16. UK Traffic Management Market, by Hardware - Revenue and Forecast to 2028 (USD Million)
Table 17. UK Traffic Management Market, by Software - Revenue and Forecast to 2028 (USD Million)
Table 18. UK Traffic Management Market, by Application - Revenue and Forecast to 2028 (USD Million)
Table 19. Russia Traffic Management Market, by Component - Revenue and Forecast to 2028 (USD Million)
Table 20. Russia Traffic Management Market, by Hardware - Revenue and Forecast to 2028 (USD Million)
Table 21. Russia Traffic Management Market, by Software - Revenue and Forecast to 2028 (USD Million)
Table 22. Russia Traffic Management Market, by Application - Revenue and Forecast to 2028 (USD Million)
Table 23. Rest of Europe Traffic Management Market, by Component - Revenue and Forecast to 2028 (USD Million)
Table 24. Rest of Europe Traffic Management Market, by Hardware - Revenue and Forecast to 2028 (USD Million)
Table 25. Rest of Europe Traffic Management Market, by Software - Revenue and Forecast to 2028 (USD Million)
Table 26. Rest of Europe Traffic Management Market, by Application - Revenue and Forecast to 2028 (USD Million)
Table 27. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Traffic Management Market Segmentation
Figure 2. Europe Traffic Management Market Segmentation - By Country
Figure 3. Europe Traffic Management Market Overview
Figure 4. Hardware Segment held the Largest Share of Traffic Management Market
Figure 5. The UK to Show Great Traction During Forecast Period
Figure 6. Europe: PEST Analysis
Figure 7. Expert Opinion
Figure 8. Europe Traffic Management Market Impact Analysis of Drivers and Restraints
Figure 9. Europe Traffic Management Market - Revenue and Forecast to 2028 (US$ Million)
Figure 10. Europe Traffic Management Market Breakdown, By Component, 2021 & 2028 (%)
Figure 11. Hardware: Traffic Management Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 12. Camera: Traffic Management Market- Revenue and Forecast to 2028 (US$ Million)
Figure 13. Display Boards: Traffic Management Market- Revenue and Forecast to 2028 (US$ Million)
Figure 14. Sensors: Traffic Management Market- Revenue and Forecast to 2028 (US$ Million)
Figure 15. Software: Traffic Management Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 16. Cloud: Traffic Management Market- Revenue and Forecast to 2028 (US$ Million)
Figure 17. On-Premise: Traffic Management Market- Revenue and Forecast to 2028 (US$ Million)
Figure 18. Services: Traffic Management Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 19. Europe Traffic Management Market Breakdown, By Application, 2021 & 2028 (%)
Figure 20. Automatic Tolling Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Lane Management Market Revenue and Forecast to 2028(US$ Million)
Figure 22. Parking Management Market Revenue and Forecast to 2028(US$ Million)
Figure 23. Surveillance Market Revenue and Forecast to 2028(US$ Million)
Figure 24. Traffic Signal Management Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Others Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. Geographic Overview of Europe Traffic Management Market
Figure 27. Europe Traffic Management Market Breakdown, by Country, 2021 & 2028(%)
Figure 28. Germany Traffic Management Market, Revenue and Forecast to 2028 (US$ Million)
Figure 29. France Traffic Management Market, Revenue and Forecast to 2028 (US$ Million)
Figure 30. Italy Traffic Management Market, Revenue and Forecast to 2028 (US$ Million)
Figure 31. UK Traffic Management Market, Revenue and Forecast to 2028 (US$ Million)
Figure 32. Russia Traffic Management Market, Revenue and Forecast to 2028 (US$ Million)
Figure 33. Rest of Europe Traffic Management Market, Revenue and Forecast to 2028 (US$ million)
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