Unmanned Traffic Management Market Size Worth $5,822.81 Million By 2032 | CAGR: 23.6%

Unmanned Traffic Management Market Size Worth $5,822.81 Million By 2032 | CAGR: 23.6%

The global unmanned traffic management market size is expected to reach USD 5,822.81 million by 2032, according to a new study by Polaris Market Research. The report “Unmanned Traffic Management Market Share, Size, Trends, Industry Analysis Report, By Component; By Type; By Application; By End Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The sector has grown due to an increase in the number of cars on the road and a rise in the need for real-time traffic information from drivers and passengers. Moreover, inadequate infrastructure and expanding government efforts to control traffic effectively continue to be significant development drivers.

The market is expected to increase significantly for the rest of 2022 despite the pandemic epidemic. Although while a complete reduction in demand is unlikely, it is anticipated that project delays and adjustments in some product categories will be necessary. Due to improved traffic effectiveness, the market for traffic management systems grows during the projection period. As a result, it is anticipated that the established companies in ITMS market would have profitable growth opportunities throughout the post-pandemic phase.

Nations all over the world are attempting to modify their infrastructure for traffic management to reduce traffic congestion. Moreover, telematics service usage in vehicles has a significant impact on safety and security. These services improve road safety, reduce fuel consumption, improve driving habits, and provide cost savings. Using radio frequency identification, telematics tracking systems in automobiles enable remote access to and activation of vehicles (RFID). These factors are anticipated to lead to an expansion of the market for traffic management systems.

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Although the COVID-19 is expected to be in force for a lot of years, it is unclear how it will affect the unmanned traffic management industry. The COVID-19 breakout compelled governments all over the world to implement stringent lockdown measures and impose a prohibition on the import and export of raw materials for the bulk of 2020 and a few months of 2021.

Unmanned Traffic Management Market Report Highlights

  • The hardware segment dominated the revenue share in 2022 owing to the growing integration of sensors and telematics in unmanned aerial system.
  • North America has largest revenue share in 2022. The United States Department of Transportation (DOT) is heavily funding the development, deployment, and adoption of traffic management systems across the country. The region's numerous government efforts that place a large emphasis on improving transportation infrastructure are driving the installation of Traffic Management systems.
  • Some of the top manufacturers of traffic management systems include Cubic Corporation, SNC-Lavalin Group (Atkins), Thales Group, International Business Machines Corporation, General Electric Company, Siemens AG, Kapsch TrafficCom, and TomTom International BV.

Polaris Market Research has segmented the Unmanned Traffic Management Market report based on component, type, application, end use and region:

Unmanned Traffic Management, Component Outlook (Revenue - USD Million, 2019 - 2032)

  • Solution
    • Software
    • Hardware
  • Services

Unmanned Traffic Management, Type Outlook (Revenue - USD Million, 2019 - 2032)

  • Persistent
  • Non persistent

Unmanned Traffic Management, Application Outlook (Revenue - USD Million, 2019 - 2032)

  • Aviation
  • Homeland Security
  • Agriculture
  • Logistics & transportation
  • Others

Unmanned Traffic Management, End Use Outlook (Revenue - USD Million, 2019 - 2032)

  • Commercial
  • Government and Law

Unmanned Traffic Management, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa