Dubai, UAE, Sept. 21, 2023 (GLOBE NEWSWIRE) -- As per the latest research report released by Kings Research, the global Traffic Simulation Systems Market was valued at USD 4.10 billion in 2022 and is estimated to grow to USD 7.83 billion by 2030, exhibiting a CAGR of 8.61% during the forecast period of 2023 - 2030. Traffic simulation systems are becoming increasingly vital and are projected to drive market growth as urbanization continues to soar, along with the rising emphasis on road safety regulations. To model and analyze transportation systems and their constituent parts, these technologies use computer software.
Using software to model and analyze transportation systems, including arterial roads, roundabouts, motorway junctions, and city grids, is a technique known as traffic simulation. It has been a significant field of study in traffic engineering and transportation planning for the past 50 years. By using computer software to simulate and analyze complicated scenarios that are difficult to assess using conventional approaches, traffic simulation can facilitate transportation network management.
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Competitive Landscape
The global traffic simulation systems market is highly competitive with major players dominating the business. In order to increase their market share, major companies are implementing crucial strategies such as acquisitions, and the introduction of new products. Prominent players operating in the market include:
- Aimsun
- The AnyLogic Company
- Mc Trans SA
- Siemens
- Caliper Corporation
- Adacel Technologies Limited
- PTV Planung Transport Verkehr GmbH
- Micro Nav
- Cubic Transportation Systems, Inc.
- Transoft Solutions Inc.
- ATRiCS
- Bentley Systems (INRO)
- Skysoft-ATM
- FUJITSU
- UFA
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Trending Now: Korean Scientists Innovate a Cutting-Edge Algorithm for Traffic Signal Management
A meta-RL model for traffic-signal regulation has been proposed by a research team from Chung Ang University in Korea, under the direction of Professor Keemin Sohn. In particular, the team created a context-based meta-RL model for traffic signal control that incorporates an extended deep Q-network (EDQN).
Traditional traffic signal controllers frequently cannot handle heavy traffic. The goal is to decrease vehicle throughput during congested conditions while minimizing vehicle delay during typical traffic conditions. Traditional traffic signal controllers, on the other hand, are unable to keep up with these evolving goals, and a human controller is only able to oversee a few intersections.
The global Traffic Simulation Systems Market is segmented as:
By Application
- Roadway and Ground Transportation
- Rail Transportation
- Maritime and Air Transportation
- Others
Rising Adoption of Roadway and Ground Transportation Models in Traffic Simulation to Boost Sales
By application, the roadway and ground transportation segment accounted for the largest share in the traffic simulation systems market in 2022 and is anticipated to grow rapidly at a CAGR of 10.25% over 2023-2030. To effectively represent traffic situations in real-world settings, various ground transportation modes, including cars, trucks, buses, bicycles, and pedestrians, are incorporated, which is boosting the growth of the segment.
Roadway models specifically include several kinds of road networks, such as roundabouts, motorways, arterial routes, and city grid systems, to mention a few. For transportation agencies seeking to enhance traffic flow and minimize congestion in urban areas around the world, the use of roadway and ground transportation models in traffic simulation is essential.
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By Type
- Microscopic Simulation
- Macroscopic Simulation
- Mesoscopic Simulation
Microscopic Simulation Models to Gain Traction Due to their Capability to Enhance Traffic Management
On the basis of type, the microscopic simulation segment accounted for the lion’s share in the traffic simulation systems market in 2022 and is likely to grow at a 10.81% CAGR through the forecast period. In order to evaluate connected and autonomous driving technologies more accurately in real-world driving situations, microscopic traffic simulation models are being employed more frequently.
In order to provide all road users with effective accessibility and mobility in an environmentally friendly and secure mode of transportation, a sustainable transportation system is essential. For evaluating and enhancing various complicated traffic management and control systems, microscopic traffic simulation has evolved over the past few years into a very helpful tool. These microscopic simulation tools simulate the movement of a person's car through the network, accurately reproducing the dynamics of real-world traffic networks.
Rising Deployment of Cloud-based Traffic Management to Promote Traffic Simulation Systems Market Growth
The Iteris ClearMobility platform offers cloud-based traffic management systems that leverage real-time data to deliver insights into traffic management. PTV GmbH also provides real-time traffic management software that is both cloud-based and based on traffic simulation. To give real-time data and insights into traffic flow and congestion patterns, the software can be connected to a variety of data sources, including GPS and traffic sensors.
A proactive approach to reducing traffic and enhancing road safety also enables transport managers and engineers to test various scenarios and assess the possible consequences of various traffic management solutions.
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North America to Lead Traffic Simulation Systems Market Owing to Widespread Adoption of Cutting-edge Technology
North America is the largest market for traffic simulation systems and is anticipated to reach a valuation of USD 2.49 billion by 2030. As cities struggle with traffic congestion and poor traffic flow, traffic simulation systems are becoming an increasingly important tool. The market for traffic simulation systems is anticipated to grow significantly in the upcoming years due to the widespread adoption of cutting-edge technology and its increasing prominence in the industry.
Additionally, it is essential to invest in transport facilities and services to support the development and management of traffic simulation models. To increase intersection safety in the area, surrogate safety measures from traffic simulation models are also being developed. In general, transportation organizations aiming to address traffic challenges and enhance regional mobility must take traffic simulation and related investments into account.
Asia Pacific to Grow Significantly Owing to the Implementation of Government Initiatives for Improving Physical Infrastructure
Asia Pacific is likely to experience significant growth throughout the projection period, generating USD 2.47 billion in revenue by 2030. Government initiatives to improve the region's physical infrastructure, with transportation as a crucial component, are supplementing APAC traffic simulation systems market growth. As a result, the demand for intelligent traffic management systems is anticipated to rise in major nations including China, Japan, South Korea, and India.
Market growth in the region is anticipated to be further fueled by government programs such as the Onboard Driver Assistance Warning System (ODWAS), which was recently introduced in India. The system's capabilities are improved by features including vehicle-borne sensors, driver assistance consoles, navigational controls, and radar sensors.
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Key Points from TOC:
Chapter 1 Introduction of the Global Traffic Simulation Systems Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
Chapter 2 Executive Summary
Chapter 3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter 4 Global Traffic Simulation Systems Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter’s Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Traffic Simulation Systems Market, By Type
Chapter 7 Global Traffic Simulation Systems Market, By Application
Chapter 8 Global Traffic Simulation Systems Market, By Geography
Chapter 9 North America
Chapter 10 Europe
Chapter 11 Asia Pacific
Chapter 12 Middle East & Africa
Chapter 13 Latin America
Chapter 14 Global Traffic Simulation Systems Market Competitive Landscape
14.1 Overview
14.2 Key Developments
14.3 Key Strategic Developments
14.4 Company Market Ranking
14.5 Regional Footprint
14.6 Industry Footprint
Chapter 15 Company Profiles
15.1 Aimsun
15.1.1 Key Facts
15.1.2 Financial Overview
15.1.3 Product Benchmarking
15.1.4 Recent Developments
15.1.5 Winning Imperatives
15.1.6 Current Focus & Strategies
15.1.7 Threat from competition
15.1.8 SWOT Analysis
15.2 The AnyLogic Company
15.2.1 Key Facts
15.2.2 Financial Overview
15.2.3 Product Benchmarking
15.2.4 Recent Developments
15.2.5 Winning Imperatives
15.2.6 Current Focus & Strategies
15.2.7 Threat from competition
15.2.8 SWOT Analysis
15.3 Mc Trans SA
15.3.1 Key Facts
15.3.2 Financial Overview
15.3.3 Product Benchmarking
15.3.4 Recent Developments
15.3.5 Winning Imperatives
15.3.6 Current Focus & Strategies
15.3.7 Threat from competition
15.3.8 SWOT Analysis
15.4 Siemens
15.4.1 Key Facts
15.4.2 Financial Overview
15.4.3 Product Benchmarking
15.4.4 Recent Developments
15.4.5 Winning Imperatives
15.4.6 Current Focus & Strategies
15.4.7 Threat from competition
15.4.8 SWOT Analysis
15.5 Caliper Corporation
15.5.1 Key Facts
15.5.2 Financial Overview
15.5.3 Product Benchmarking
15.5.4 Recent Developments
15.5.5 Winning Imperatives
15.5.6 Current Focus & Strategies
15.5.7 Threat from competition
15.5.8 SWOT Analysis
Continued……
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