Middle East & Africa Traffic Management Market Forecast to 2028 – COVID

Middle East & Africa 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)

Report Code : BMIRE00026310 | Region : LAMEA | Industry : Technology, Media and Telecommunications | Published Date : 26/Sep/2022

The Middle East & Africa traffic management market is expected to grow from US$ 2,590.15 million in 2022 to US$ 4,493.83 million by 2028. It is estimated to grow at a CAGR of 9.6% from 2022 to 2028.

With the fast-growing 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 over the coming years. 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 the vehicles traveling on the road, 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.

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 Middle East & Africa traffic management market at a substantial CAGR during the forecast period.

Middle East & Africa Traffic Management Market Revenue and Forecast to 2028 (US$ Million)

Middle East & Africa Traffic Management Market Segmentation

The Middle East & Africa 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 Saudi Arabia, the UAE, South Africa, and the Rest of the MEA. In 2022, the Rest of the MEA held a larger market share. On the other side, and the UAE 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 Middle East & Africa traffic management market.

At 9.6% CAGR, the Middle East & Africa Traffic Management Market is speculated to be worth US$ 4,493.83 million by 2028, says The Insight Partners

According to The Insight Partners’ research, the Middle East & Africa traffic management market was valued at US$ 2,590.15 million in 2022 and is expected to reach US$ 4,493.83 million by 2028, registering an annual growth rate of 9.6% from 2022 to 2028. Wide applications of AI and ML and surging investment in infrastructure.

Artificial Intelligence (AI) and Machine Learning (ML) are expected to play a crucial role in the future of the traffic management market. The application of AI and ML in traffic management is still quite nascent, and most countries are yet to adopt the same. However, that scenario is changing fast, primarily due to the increasing number of connected cars. Additionally, the growing demand for electric vehicles (EVs) and autonomous vehicles (AVs) can help to accelerate the adoption of AI and ML in traffic management. Most EVs and AVs are fitted with a host of sensors and collect multivariate data, which can significantly improve the knowledge base of a smart traffic management system. Furthermore, an advanced driver assistance system (ADAS) is increasingly utilized in high-end vehicles. ADAS can aid the driver in parallel parking, warn about speed limits, or even autonomously drive the vehicle in certain conditions. While these technologies are also nascent and have a long way to travel, combining data from such technologies with the hardware of traffic management systems can significantly improve transportation systems in a city. Through AI and ML, the advanced traffic management systems can effectively understand and predict congestion at a juncture at a specific time point, survey road conditions, predict congestion on a specific stretch of road, alert emergency services in case of an accident or alert the driver of an available parking spot. Thus, as more connected vehicles become available on the road, AI and ML can be expected to shape the future of traffic management systems across the region.

On the contrary, excessive cost of implementation.

Based on component, the Middle East & Africa traffic management market is segmented into hardware, software, and services. The hardware superconductors segment held 41.2% market share in 2022, amassing US$ 1,068.24 million. It is projected to garner US$ 1,807.55 million by 2028 to expand at 9.2% CAGR during 2022–2028.

Based on hardware, the Middle East & Africa traffic management market is segmented into camera, display boards, and sensors. The camera segment held 44.8% market share in 2022, amassing US$ 478.11 million. It is projected to garner US$ 805.48 million by 2028 to expand at 9.1% CAGR during 2022–2028.

Based on hardware, the Middle East & Africa traffic management market is segmented into cloud and on-premise. The on-premise segment held 65.5% market share in 2022, amassing US$ 491.48 million. It is projected to garner US$ 864.83 million by 2028 to expand at 9.9% CAGR during 2022–2028.

Based on application, the Middle East & Africa traffic management market is segmented into automatic tolling, lane management, parking management, surveillance, traffic signal management, and others. The traffic signal management segment held 24.2% market share in 2022, amassing US$ 627.19 million. It is projected to garner US$ 1,037.33 million by 2028 to expand at 8.7% CAGR during 2022–2028

Based on country, the Middle East & Africa traffic management market has been segmented into Saudi Arabia, South Africa, the UAE, and Rest of MEA. Our regional analysis states that Rest of MEA captured 46.7% market share in 2022. It was assessed at US$ 1,208.95 million in 2022 and is likely to hit US$ 2,053.68 million by 2028, exhibiting a CAGR of 9.2% during the forecast period.

Key players dominating the Middle East & Africa traffic management market are 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 among others.

• In December 2021, Dahua Technology has developed a comprehensive Smart Traffic Management Solution that combines video surveillance with AI, ANPR, image fusion, AR, and other cutting-edge technologies to meet the diverse needs of modern traffic enforcement and significantly improve their operation and management.

• In July 2021, Yunex, formerly known as Siemens intelligent traffic system, was launched by Siemens (ITS). This has a new brand name and will operate with a clear business emphasis and independence.

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 Middle East & Africa Traffic Management Market – By Component

1.3.2 Middle East & Africa Traffic Management Market – By Application

1.3.3 Middle East & Africa Traffic Management Market- By Country

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Middle East & Africa Traffic Management Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. Middle East & Africa Traffic Management Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Fostering Urbanization Leading to Congestion

5.1.2 Surging Investment in Infrastructure

5.2 Market Restraints

5.2.1 Excessive cost of implementation

5.3 Future Trends

5.3.1 Wide Application of AI and ML

5.4 Impact Analysis of Drivers and Restraints

6. Middle East & Africa Traffic Management Market Analysis

6.1 Middle East & Africa Traffic Management Market Overview

6.2 Middle East & Africa Traffic Management Market – Revenue and Forecast to 2028 (US$ Million)

7. Middle East & Africa Traffic Management Market Analysis – By Component

7.1 Overview

7.2 Middle East & Africa 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. Middle East & Africa Traffic Management Market Analysis – By Application

8.1 Overview

8.2 Middle East & Africa 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. Middle East & Africa Traffic Management Market – Country Analysis

9.1 Overview

9.1.1 MEA Traffic Management Market Breakdown, By Country

9.1.1.1 South Africa Traffic Management Market, Revenue and Forecast to 2028 (US$ Million)

9.1.1.1.1 South Africa Traffic Management Market Breakdown, By Component

9.1.1.1.1.1 South Africa Traffic Management Market Breakdown, By Hardware

9.1.1.1.1.2 South Africa Traffic Management Market Breakdown, By Software

9.1.1.1.2 South Africa Traffic Management Market Breakdown, By Application

9.1.1.2 Saudi Arabia Traffic Management Market, Revenue and Forecast to 2028 (US$ Million)

9.1.1.2.1 Saudi Arabia Traffic Management Market Breakdown, By Component

9.1.1.2.1.1 Saudi Arabia Traffic Management Market Breakdown, By Hardware

9.1.1.2.1.2 Saudi Arabia Traffic Management Market Breakdown, By Software

9.1.1.2.2 Saudi Arabia Traffic Management Market Breakdown, By Application

9.1.1.3 UAE Traffic Management Market, Revenue and Forecast to 2028 (US$ Million)

9.1.1.3.1 UAE Traffic Management Market Breakdown, By Component

9.1.1.3.1.1 UAE Traffic Management Market Breakdown, By Hardware

9.1.1.3.1.2 UAE Traffic Management Market Breakdown, By Software

9.1.1.3.2 UAE Traffic Management Market Breakdown, By Application

9.1.1.4 Rest of MEA Traffic Management Market, Revenue and Forecast to 2028 (US$ Million)

9.1.1.4.1 Rest of MEA Traffic Management Market Breakdown, By Component

9.1.1.4.1.1 Rest of MEA Traffic Management Market Breakdown, By Hardware

9.1.1.4.1.2 Rest of MEA Traffic Management Market Breakdown, By Software

9.1.1.4.2 Rest of MEA 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.             Middle East & Africa Traffic Management Market – Revenue and Forecast to 2028 (US$ Million)

Table 2.             MEA Traffic Management Market, by Country – Revenue and Forecast to 2028 (USD Million)

Table 3.             South Africa Traffic Management Market, by Component – Revenue and Forecast to 2028 (USD Million)

Table 4.             South Africa Traffic Management Market, by Hardware – Revenue and Forecast to 2028 (USD Million)

Table 5.             South Africa Traffic Management Market, by Software – Revenue and Forecast to 2028 (USD Million)

Table 6.             South Africa Traffic Management Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 7.             Saudi Arabia Traffic Management Market, by Component – Revenue and Forecast to 2028 (USD Million)

Table 8.             Saudi Arabia Traffic Management Market, by Hardware – Revenue and Forecast to 2028 (USD Million)

Table 9.             Saudi Arabia Traffic Management Market, by Software – Revenue and Forecast to 2028 (USD Million)

Table 10.          Saudi Arabia Traffic Management Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 11.          UAE Traffic Management Market, by Component – Revenue and Forecast to 2028 (USD Million)

Table 12.          UAE Traffic Management Market, by Hardware – Revenue and Forecast to 2028 (USD Million)

Table 13.          UAE Traffic Management Market, by Software – Revenue and Forecast to 2028 (USD Million)

Table 14.          UAE Traffic Management Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 15.          Rest of MEA Traffic Management Market, by Component – Revenue and Forecast to 2028 (USD Million)

Table 16.          Rest of MEA Traffic Management Market, by Hardware – Revenue and Forecast to 2028 (USD Million)

Table 17.          Rest of MEA Traffic Management Market, by Software – Revenue and Forecast to 2028 (USD Million)

Table 18.          Rest of MEA Traffic Management Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 19.          List of Abbreviation

LIST OF FIGURES.

Figure 1.           Middle East & Africa Traffic Management Market Segmentation

Figure 2.           Middle East & Africa Traffic Management Market Segmentation – By Country

Figure 3.           Middle East & Africa Traffic Management Market Overview

Figure 4.           Hardware Segment held the Largest Share of Traffic Management Market

Figure 5.           Rest of MEA to Show Great Traction During Forecast Period

Figure 6.           Middle East & Africa: PEST Analysis

Figure 7.           Expert Opinion

Figure 8.           Middle East & Africa Traffic Management Market Impact Analysis of Drivers and Restraints

Figure 9.           Middle East & Africa Traffic Management Market – Revenue and Forecast to 2028 (US$ Million)

Figure 10.        Middle East & Africa 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.        Middle East & Africa 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 Middle East & Africa Traffic Management Market

Figure 27.        MEA Traffic Management Market Breakdown, By Country, 2021 & 2028 (%)

Figure 28.        South Africa Traffic Management Market, Revenue and Forecast to 2028 (US$ Million)

Figure 29.        Saudi Arabia Traffic Management Market, Revenue and Forecast To 2028 (US$ Million)

Figure 30.        UAE Traffic Management Market, Revenue and Forecast To 2028 (US$ Million)

Figure 31.        Rest of MEA Traffic Management Market, Revenue and Forecast To 2028 (US$ Million)

The List of Companies - Middle East & Africa Traffic Management Market

● 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                         

● SNC-Lavalin Group

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Middle East & Africa traffic management market.

● Highlights key business priorities in order to assist companies to realign their business strategies

● The key findings and recommendations highlight crucial progressive industry trends in the Middle East & Africa traffic management market, thereby allowing players across the value chain to develop effective long-term strategies

● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

● Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the traffic management market, as well as those hindering it

● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

TOP