Traffic Simulation Systems Market Outlook
The global traffic simulation systems market size was valued at USD 13,694.3 Million in 2019 and is projected to reach USD 33,648.6 Million by 2027, expanding at a CAGR of 11.9% during the forecast period, 2020-2027.
Traffic simulation is the mathematical modeling of transportation systems (e.g., arterial routes, roundabouts, freeway junctions, downtown grid systems, etc.) with the help of computer software to better help design, plan, and operate transportation systems.
Traffic simulation or transportation simulation models take into account the factors such as speed, traffic flow, density features and combine them with analytical techniques such as shock-wave analysis, capacity analysis, demand-supply analysis, and queuing analysis. The logic of traffic simulation models varies across models and various methods to represent the operations related to traffic are employed.
Traffic Simulation Systems Market Dynamics
As the product improvement becomes gradually sophisticated and complex subsequently, the consequences and risks of catastrophe keeps on rising. It is predicted that the usage of simulation will continue to propagate. Businesses will need the capability to use several physics factors and accomplish complete structure simulations.
When integrated in a digital twin, engineering simulation assists companies to optimize and analyze the performance of products in real-world functioning conditions and make secure predictions about forthcoming performance to improve product productivity and operation, as well as decrease the cost and threat of unplanned downtime.
Thus, growing awareness and increasing adoption of digital twins are estimated to drive the growth of the global traffic simulation systems market. Security-associated issues, dearth of uniform technology standards as well as attaining standard & interoperable architecture for intelligent traffic administration systems is expected to limit the growth of traffic simulation systems market.
Traffic Simulation Systems Market Segment Insights
Type Segment Analysis
On the basis of types, the global traffic simulation systems market has been categorized into microscopic simulation, mesoscopic simulation, macroscopic simulation, and traffic planning simulation. The microscopic simulation segment held a market share of around 32.6% in 2019 and is anticipated to expand at substantial CAGR during the forecast period.
A sustainable transportation system is important for efficient accessibility and mobility for all road users in an environment-friendly and safe transport mode. Microscopic traffic simulation has developed as an enormously useful tool over the past few years for assessing and improving different complex traffic management and control systems.
Real-world traffic network dynamics are accurately replicated with the help of these microscopic simulation tools by simulating the movement of vehicle of an individual through the network.
Application Segment Analysis
Based on application, the global traffic simulation systems market has been segmented into rail transportation, roadway and ground transportation, and maritime and air transportation. The maritime and air transportation segment is expected to register highest CAGR during the period from 2020 to 2027.
Maritime and air transportation is a connection between the transport network and international trade. An efficient transport system has the ability to enhance trade and larger volume of trade can ultimately generate the demand for investments in the transport network.
The growth of air transport services is vital for the sustainable development of tourism and trade. This sector acts as an economic catalyst as it assists the economy in moving services & products with speed & efficiency and also in creating new market opportunities.
Regional Outlook
In terms of regions, the global traffic simulation systems market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global traffic simulations systems market in 2019 and is anticipated to expand at substantial CAGR during the forecast period.
North America is focusing on efficient monitoring of traffic movements with the implementation of advanced technologies that reduce the effects of unavoidable disaster, thereby providing quick reactive measures. This is one the latest trends prevailing in the traffic simulation systems market.
Moreover, the presence of various safety and compulsory inspection standards for traffic simulation systems production in this region accounts for the industry growth.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Traffic Simulation Systems Market
- Historical, Current and Projected Market Size in terms of Value
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Traffic Simulation Systems Market Performance
Segments
Type
- Microscopic Simulation
- Mesoscopic Simulation
- Macroscopic Simulation
- Traffic Planning Simulation
Application
- Rail Transportation
- Roadway and Ground Transportation
- Maritime and Air Transportation
Region
- North America
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Russia
- Rest of the Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
Key Market Players Profiled in the Report
- AnyLogic
- INCONTROL
- Adacel
- Fujitsu
- FlexSim
- Aimsun
- PTV Group
- Simio
- Transoft
- Trafficware
- ATRiCS
- INRO
- Nexus Telecom
- Caliper Corporation
Competitive Landscape
Key players in the market include Adacel, Fujitsu, PTV Group, Trafficware, and Aimsun among others. These companies are considered as key manufacturers of traffic simulation systems based on their revenue, research & development (R&D) activities, regional presence, and supply chain management system.
The players are adopting key strategies such as acquisition, new product launches, and geographical expansion in order to strengthen their market position.
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For instance, in June 2020, Adacel announced that the U.S. Army purchased more than 60 simulators in order to support its Air Traffic Control Common Simulator (ACS) Program. This contract included hardware and software support with a valuation of around USD 2.8 million.
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In October 2018, Cubic Corporation entered into an agreement to acquire Advanced Traffic Solutions Inc. (Trafficware). Trafficware provides intelligent traffic solutions for the transportation industry. The purchase price for this acquisition was approximately USD 235.7 million.
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In June 2017, Porsche Automobil Holding SE completed the acquisition of PTV Group. PTV Group develops software for transport planning and logistics. The purchase price for this acquisition was USD 338 million.