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, 2023 - 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
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)
Unmanned Traffic Management, Type Outlook (Revenue - USD Million, 2019 - 2032)
Unmanned Traffic Management, Application Outlook (Revenue - USD Million, 2019 - 2032)
Unmanned Traffic Management, End Use Outlook (Revenue - USD Million, 2019 - 2032)
Unmanned Traffic Management, Regional Outlook (Revenue - USD Million, 2019 - 2032)