The global traffic simulation systems market 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. 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.
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.
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.
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.
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.
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report covers product specific information such as microscopic simulation, mesoscopic simulation, macroscopic simulation, and traffic planning simulation.
According to this Growth Market Reports report, the market from traffic simulation systems is likely to register a CAGR of 11.9% during forecast period 2020-2027, with an anticipated valuation of USD 33,648.6 million by the end of the 2027.
In addition to market size (in USD Million), the Company Market Share (in % for base year 2019), other data such as macro-economic factors, and COVID-19 impact on the overall market are available in the final report.
The rising urban population, increasing need for traffic simulation systems and growing demand for transportation facilities are some of the factors driving the market growth.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The COVID-19 pandemic has negatively impacted the market growth during year 2019 -2020 to a certain extent.
The base year considered for the global traffic simulation systems market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Rail transportation, roadway & ground transportation and maritime & air transportation industries are the key end-users that are driving the traffic simulation systems market growth.
Major Manufactures include Adacel, Fujitsu, PTV Group, Trafficware, and Aimsun among others.
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