North America Traffic Management Market Growth, Size - 2030
The North America traffic management market size was valued at US$ 10.04 billion in 2022 and is expected to reach US$ 28.87 billion by 2030; it is estimated to record a CAGR of 13.1% from 2022 to 2030.
North America Traffic Management Market Analyst Perspective:
Traffic control is one of the most essential technical tools for regulating traffic flow, alleviating congestion, and even lowering pollutants. Advancements in information technology, computer technology, and system science have always accompanied its success and evolution. The self-adaptive control system can alter the signal timing settings in real-time based on the manager's control aim (for example, the intersection's minimum delay) and the arrival characteristics of the traffic flow. Compared to timed control and actuated control, the self-adaptive control system can better utilize the road network's overall traffic capacity and efficiently increase traffic efficiency.
Governments across North America are focusing on improving their transportation infrastructure; the self-adaptive traffic signal system can be a useful system to adapt in the near future. For example, Canada incorporated Transportation 2030, a strategic plan for the future of transportation in Canada. Through the plan, the government is focusing on safer, greener, and more innovative transportation. Furthermore, the US government is focusing on investment in transportation infrastructure. The US law includes US$ 39 billion in additional funding to upgrade transit, as well as a five-year extension of existing transit programs as part of surface transportation renewal. In total, the new investments and reauthorization in the Bipartisan Infrastructure Deal provide US$ 89.9 billion in guaranteed funding for public transit over the next five years. Thus, such government initiatives to modernize the transportation system are expected to positively influence the adoption of self-adaptive traffic signal systems to modernize traffic control and boost North America traffic management market growth.
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North America Traffic Management Market: Strategic Insights
Market Size Value in US$ 10.04 billion in 2022 Market Size Value by US$ 28.87 billion by 2030 Growth rate CAGR of 13.1% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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North America Traffic Management Market: Strategic Insights
Market Size Value in | US$ 10.04 billion in 2022 |
Market Size Value by | US$ 28.87 billion by 2030 |
Growth rate | CAGR of 13.1% from 2022 to 2030 |
Forecast Period | 2022-2030 |
Base Year | 2022 |
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Speak to AnalystNorth America Traffic Management Market Overview:
Information and communication technologies are becoming integral to traffic management with the rising number of connected vehicles. Modern-day traffic management involves hardware, software, and services. Hardware collects multivariate data, such as road conditions, pollution level, traffic movement, accidents, and recording traffic violations. It includes different types of cameras, sensors, and display boards. Software is required to access the data generated through hardware, collate, and derive meaningful insights. Different types of services are required for the smooth running of a traffic management system. It includes repair and maintenance of the hardware, operating the data collection centers, and software maintenance. The North America traffic management market report emphasizes the key factors driving the market. The ecosystem of the North America traffic management market involves a variety of stakeholders, including component providers, traffic management hardware manufacturers, traffic management software providers, traffic management service providers, and end users. The component providers supply components, such as lenses, memory modules, chips, and LEDs, to the hardware manufacturers. Hardware manufacturers, such as Axis, Hikvision, and Dahua, manufacture crucial hardware systems, including different types of cameras, sensors, and display boards required for traffic management. The software developers are responsible for developing software that enables the hardware systems to derive meaningful insights from the collected and analyzed data. Several hardware manufacturers collaborate with software developers to develop their software solutions. IBM and Siemens are among the leading software developers in this industry.
Service providers are uniquely positioned in the traffic management market ecosystem. They serve all the other stakeholders. SGS SA, for example, provides testing and inspection services for hardware manufacturers, while SNC-Lavalin provides varied services to the end user for smooth installation and functioning of the systems. End users are mostly government authorities and infrastructure development companies responsible for the proper functioning of roadways. Government authorities can include federal and state bodies.
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North America Traffic Management Market Driver:
Increasing Urbanization Fuels North America Traffic Management Market Growth
As per the United Nations Conference on Trade and Development (UNCTAD), 56.2% of the global population resided in urban areas in 2020, compared to 51.6% in 2010. The percentage of urban dwellers was above 79% in the US. Such a growing urban population puts increased stress on the roadways. Several other factors are also directly linked with rising congestion in urban areas, which leads to an increased requirement for better traffic management systems. Firstly, the rising urban population increases the number of vehicles on the road, leading to congestion. To cite an example, according to the National Institute of Corrections, the population of the US in 2022 was 338,289,857, a 0.38% increase from 2021, while, according to the Bureau of Transportation Statistics, the total vehicle production in the US, including passenger cars and commercial vehicles, increased from 8.8 million units in 2020 to 9.1 million units in 2021. The total domestic sales in the US, including passenger cars and commercial vehicles, increased from 11.5 million units in 2020 to 11.8 million units in 2021. The positive impact of the factor mentioned above was considered while calculating the North America traffic management market forecast. Secondly, ride-hailing services from cab aggregators, such as Uber, Grab, and Lyft, have been increasing at a rapid pace. Such services have been substituting mass transit systems, leading to a surge in vehicles on the road. Thirdly, growing urbanization positively impacted the growth of e-commerce and on-demand platforms. Delivery vehicles, including two-wheelers, witnessed rapid demand due to the growth in online purchases. Such factors are expected to boost the North America traffic management market.
North America Traffic Management Market Segmental Analysis:
The North America traffic management market is segmented on the basis of component and application. Based on component, the market is segmented into hardware, software, and service. The hardware segment has been further segmented into cameras, display boards, and sensors, while the software segment has been further bifurcated into on-premise and cloud. Based on application, the market is segmented into automatic tolling, lane management, parking management, surveillance, traffic signal management, and others. By Country, the North America traffic management market is segmented into the US and Canada. The US traffic management market is further segmented into Arizona, Kentucky, Maryland, Michigan, New York, North Carolina, Ohio, South Carolina, Virginia, Wisconsin, and the Rest of US. The Canada traffic management market is segmented into Alberta, British Columbia, Ontario, Quebec, and the Rest of Canada.
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By component, the market is segmented into hardware, software, and service. The hardware segment held the largest North America traffic management market share in 2022. Hardware is an important component of the traffic management market, as it is the primary tool through which data is collected. Hardware includes cameras, display boards, and sensors. Cameras aid in identifying a signal-violating vehicle, tracking a vehicle being searched for, and recording traffic movement. Display boards help inform drivers of various updates on the road ahead and display a variety of information. Sensors are used for different applications, such as monitoring road conditions and calculating the number of vehicles at a specific road stretch. Hardware can be termed the most important component of traffic management, as the other two components will be rendered inoperable without it. Different government agencies have been investing in upgrading their traffic management hardware, which is primarily driving the North America traffic management market for the segment.
North America Traffic Management Market Regional Analysis:
The US held the largest North America traffic management market share. The US Department of Transportation (DOT) has significantly invested in intelligent traffic management system (ITMS) research and development, implementation, and acceptance. Regional governments' strong emphasis on building transportation infrastructure is driving the adoption of traffic management systems. The revolution of the transportation network across the region is expected to be ushered in by advancements in communication technology and the rising need to combat vehicle congestion for increased efficacy of transport capacity through a real-time interchange. Furthermore, the increasing use of mobile and radio devices with short-range dedicated technology has surged the demand for ITMS solutions across the region.
The growing adoption of smart traffic systems for managing the centrally controlled traffic signals and sensors used to regulate and control the flow of traffic across the cities is strongly promoting market growth in North America. These systems permit the cities to decrease traffic congestion by efficiently handling traffic flows, responding to the emerging demand from travelers in real-time, and decreasing pollution across the city. As smart traffic systems eradicate stop-start driving, they are considered more efficient and less polluting. Thus, the growing adoption of ITMS is expected to boost the US's traffic management market during the forecast period.
North America Traffic Management Market Key Player Analysis:
Key North America traffic management market trends indicate that the major players are taking several measures to take advantage of the opportunities emerging through rising urban development. Axis Communications AB, Cisco Systems Inc, Cubic Corporation, Dahua Technology Co Ltd, Hangzhou Hikvision Digital Technology Co Ltd, IBM Corporation, SGS SA, Siemens AG, SNC-Lavalin Group Inc, and Teledyne FLIR LLC are among the prominent players analyzed in the North America traffic management market report. Several other important players were also evaluated during this North America traffic management market analysis to get a holistic view of the market and its ecosystem. The leading players focus on feature upgrades, expansion and diversification, collaboration, and acquisition strategies, which enable them to grab new business opportunities.
North America Traffic Management Market Recent Developments:
The players highly adopt inorganic and organic strategies. Following are a few major developments:
- In December 2023, the Michigan DOT installed 14 new digital signs along Interstate 94 (I-94) between Western Kalamazoo County and Eastern Berrien County. The new signs are expected to be a significant improvement over existing boards and will most likely promote safe driving during severe weather conditions.
- In July 2022, Dahua launched new upgrades powered by AI. The Dahua WizMind is a full portfolio of solutions composed of project-oriented products, including IPC, NVR, PTZ, XVR, and thermal cameras that adopt industry-leading deep learning algorithms. With a focus on customer's actual needs and requirements, WizMind provides precise, reliable, and comprehensive AI solutions for vertical markets.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The North America traffic management market are expected to reach US$ 28.87 billion by 2030.
The hardware segment led the North America traffic management market with a significant share in 2022 and software segment is expected to grow with the highest CAGR.
The key players holding majority shares in the North America traffic management market include Cisco Systems Inc, Cubic Corporation, IBM Corporation, Siemens AG, and Teledyne FLIR.
Increasing deployment of AI and ML and growing adoption of self-adaptive traffic signal systems is expected to drive the growth of the North America traffic management market in the coming years.
Increasing urbanization and growing infrastructure investment are driving factors of North America traffic management market.
The North America traffic management market was estimated to be valued at US$ 10.04 billion in 2022 and is projected to reach US$ 28.87 billion by 2030; it is expected to grow at a CAGR of 13.1% during the forecast period.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Traffic Management Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. North America Traffic Management Market – Key Market Dynamics
5.1 North America Traffic Management Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Increasing Urbanization
5.2.2 Growing Infrastructure Investment
5.3 Market Restraints
5.3.1 High Implementation Cost
5.4 Market Opportunities
5.4.1 Development of Smart Cities and Roadways
5.5 Future Trends
5.5.1 Increasing Deployment of AI and ML
5.5.2 Growing Adoption of Self-Adaptive Traffic Signal Systems
5.6 Impact of Drivers and Restraints:
6. North America Traffic Management Market Analysis
6.1 North America Traffic Management Market Revenue (US$ Million), 2022–2030
6.2 North America Traffic Management Market Forecast and Analysis
7. North America Traffic Management Market Analysis – by Component
7.1 Hardware
7.1.1 Overview
7.1.2 Hardware: North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
7.1.3 Cameras
7.1.3.1 Overview
7.1.3.2 Cameras: North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
7.1.4 Display Boards
7.1.4.1 Overview
7.1.4.2 Display Boards: North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
7.1.5 Sensors
7.1.5.1 Overview
7.1.5.2 Sensors: North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
7.2 Software
7.2.1 Overview
7.2.2 Software: North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
7.2.3 On-Premise
7.2.3.1 Overview
7.2.3.2 On-Premise: North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
7.2.4 Cloud
7.2.4.1 Overview
7.2.4.2 Cloud: North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
7.3 Service
7.3.1 Overview
7.3.2 Service: North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
8. North America Traffic Management Market Analysis – by Application
8.1 Automatic Tolling
8.1.1 Overview
8.1.2 Automatic Tolling: North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
8.2 Lane Management
8.2.1 Overview
8.2.2 Lane Management: North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
8.3 Parking Management
8.3.1 Overview
8.3.2 Parking Management: North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
8.4 Surveillance
8.4.1 Overview
8.4.2 Surveillance: North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
8.5 Traffic Signal Management
8.5.1 Overview
8.5.2 Traffic Signal Management: North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9. North America Traffic Management Market – Country Analysis
9.1 North America Traffic Management Market Breakdown by Countries
9.1.1 North America Traffic Management Market Revenue and Forecast and Analysis – by Country
9.1.1.1 North America Traffic Management Market Revenue and Forecast and Analysis – by Country
9.1.1.2 US Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.1 US Traffic Management Market Breakdown by Component
9.1.1.2.2 US Traffic Management Market Breakdown by Hardware
9.1.1.2.3 US Traffic Management Market Breakdown by Software
9.1.1.2.4 US Traffic Management Market Breakdown by Application
9.1.1.2.5 US Traffic Management Market Breakdown by States
9.1.1.2.6 Arizona Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.7 Kentucky Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.8 Maryland Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.9 Michigan Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.10 New York Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.11 North Carolina Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.12 Ohio Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.13 South Carolina Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.14 Virginia Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.15 Wisconsin Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.16 Rest of US Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.3 Strengthening Mobility and Revolutionizing Transportation (SMART) Grants Program of the US –Fiscal Year 2022 Planning and Prototyping Grants by State (Selected Data)
9.1.1.4 Canada Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.4.1 Canada Traffic Management Market Breakdown by Component
9.1.1.4.2 Canada Traffic Management Market Breakdown by Hardware
9.1.1.4.3 Canada Traffic Management Market Breakdown by Software
9.1.1.4.4 Canada Traffic Management Market Breakdown by Application
9.1.1.4.5 Canada Traffic Management Market Breakdown by Provinces
9.1.1.4.6 Alberta Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.4.7 British Columbia Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.4.8 Ontario’s Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.4.9 Quebec’s Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
9.1.1.4.10 Rest of Canada Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
10. Competitive Landscape
10.1 Heat Map Analysis By Key Players
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Axis Communications AB
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Cisco Systems Inc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Cubic Corp
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Dahua Technology Co., Ltd.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 International Business Machines Corp
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Hangzhou Hikvision Digital Technology Co Ltd
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 SGS SA
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Siemens AG
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Teledyne FLIR LLC
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Snc-Lavalin Group Inc
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 Word Index
List of Tables
Table 1. North America Traffic Management Market Segmentation
Table 2. List of Vendors
Table 3. North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Table 4. North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 5. North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 6. North America Traffic Management Market – Revenue and Forecast to 2030 (US$ Million) – by Country
Table 7. US Traffic Management Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 8. US Traffic Management Market – Revenue and Forecast to 2030 (US$ Million) – by Hardware
Table 9. US Traffic Management Market – Revenue and Forecast to 2030 (US$ Million) – by Software
Table 10. US Traffic Management Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 11. US Traffic Management Market – Revenue and Forecast to 2030 (US$ Million) – by States
Table 12. Strengthening Mobility and Revolutionizing Transportation (SMART) Grants Program - 2022
Table 13. Canada Traffic Management Market – Revenue and Forecast to 2030 (US$ Million) – by Component
Table 14. Canada Traffic Management Market – Revenue and Forecast to 2030 (US$ Million) – by Hardware
Table 15. Canada Traffic Management Market – Revenue and Forecast to 2030 (US$ Million) – by Software
Table 16. Canada Traffic Management Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 17. Canada Traffic Management Market – Revenue and Forecast to 2030 (US$ Million) – by Provinces
Table 18. Heat Map Analysis By Key Players
Table 19. List of Abbreviation
List of Figures
Figure 1. North America Traffic Management Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Ecosystem: Traffic Management Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. North America Traffic Management Market Revenue (US$ Million), 2022–2030
Figure 6. North America Traffic Management Market Share (%) – by Component, 2022 and 2030
Figure 7. Hardware: North America Traffic Management Market– Revenue and Forecast to 2030 (US$ Million)
Figure 8. Cameras: North America Traffic Management Market– Revenue and Forecast to 2030 (US$ Million)
Figure 9. Display Boards: North America Traffic Management Market– Revenue and Forecast to 2030 (US$ Million)
Figure 10. Sensors: North America Traffic Management Market– Revenue and Forecast to 2030 (US$ Million)
Figure 11. Software: North America Traffic Management Market– Revenue and Forecast to 2030 (US$ Million)
Figure 12. On-Premise: North America Traffic Management Market– Revenue and Forecast to 2030 (US$ Million)
Figure 13. Cloud: North America Traffic Management Market– Revenue and Forecast to 2030 (US$ Million)
Figure 14. Service: North America Traffic Management Market– Revenue and Forecast to 2030 (US$ Million)
Figure 15. North America Traffic Management Market Share (%) – by Application, 2022 and 2030
Figure 16. Automatic Tolling: North America Traffic Management Market– Revenue and Forecast to 2030 (US$ Million)
Figure 17. Lane Management: North America Traffic Management Market– Revenue and Forecast to 2030 (US$ Million)
Figure 18. Parking Management: North America Traffic Management Market– Revenue and Forecast to 2030 (US$ Million)
Figure 19. Surveillance: North America Traffic Management Market– Revenue and Forecast to 2030 (US$ Million)
Figure 20. Traffic Signal Management: North America Traffic Management Market– Revenue and Forecast to 2030 (US$ Million)
Figure 21. Others: North America Traffic Management Market– Revenue and Forecast to 2030 (US$ Million)
Figure 22. North America Traffic Management Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 23. US Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 24. Arizona Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 25. Kentucky Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 26. Maryland Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 27. Michigan Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 28. New York Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 29. North Carolina Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 30. Ohio Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 31. South Carolina Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 32. Virginia Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 33. Wisconsin Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 34. Rest of US Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 35. Canada Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 36. Alberta Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 37. British Columbia Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 38. Ontario’s Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 39. Quebec’s Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 40. Rest of Canada Traffic Management Market – Revenue and Forecast to 2030 (US$ Million)
Figure 41. Company Positioning & Concentration
The List of Companies - North America Traffic Management Market
- Axis Communications AB
- Cisco Systems Inc
- Cubic Corp
- Dahua Technology Co., Ltd.
- International Business Machines Corp
- Hangzhou Hikvision Digital Technology Co Ltd
- SGS SA
- Siemens AG
- Teledyne FLIR LLC
- Snc-Lavalin Group Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.