TRAFFIC MANAGEMENT SYSTEM MARKET ANALYSIS

Traffic Management System Market, By Solution (Hardware, Software and Services), By Software (Smart Signaling, Route Guiding, Traffic Analytics), By Hardware (Display Boards, Sensors, Surveillance Cameras and Others), By Systems (Urban Traffic Management and Control (UTMC) System, Adaptive Traffic Control (ATC) System, Journey Time Management (JTM) System, Predictive Traffic Modeling (PTM) System, Incident Detection and Location (IDL) System and Dynamic Traffic Management (DTM) System ), and By Region - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028

Global Traffic Management System Market: Key Developments

In January 2019, Cubic Corporation announced the acquisition of GRIDSMART Technologies, Inc. for approximately $87 million in cash to expand intelligent traffic management offering.
In February 2019, Delhi Police in collaboration with Maruti Suzuki India Limited, announced the launch of first of its kind automated traffic management system “Red Light Violation Detection and Speed Violation Detection System (RLVDS and SVDS)” that does everything from violation-capturing to issuance of an e-challan without human intervention.
In June 2019, Econolite, one of the USA’s leading suppliers of all forms of ITS (intelligent transportation systems) equipment, announced a launch of its two new traffic management software modules, “Centracs Edaptive” and “Centracs Priority software systems”, for its Centracs platform at the ITS America Annual Meeting in Washington DC. These modules are designed to deliver new, unique opportunities to automate traffic optimization capabilities.