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Traffic Management Systems Market to be Worth $58.13 Billion by 2031 – Exclusive Report by Meticulous Research®

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REDDING, Calif., May 20, 2024 /PRNewswire/ — According to a new market research report titled, ‘Traffic Management Systems Market by Offering (Hardware (Sensors, Cameras, Others), Solutions (Traffic Monitoring, Remote Enforcement, Others), Services), Deployment (Cloud, On-premise), Technology (IoT, AI, Others) & Geography- Forecasts to 2031′, the traffic management systems market is projected to reach $58.13 billion by 2031, at a CAGR of 14.1% from 2024 to 2031.

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Traffic management systems are used to detect and track vehicles as well as pedestrians, vehicles, pedestrians, and bicycles to reduce congestion and carbon emissions. These systems are used for various applications, including traffic monitoring, traffic signal control, tolling & faring, remote enforcement, route planning & optimization, and parking management. Traffic management systems enable safe and smooth road transportation. Nowadays, road congestion has become a paramount concern. With the increasing number of vehicles and growing urbanization, managing traffic is no longer an option but a necessity. This is where traffic management systems come into play.
Some of the factors driving the growth of this market are increasing government investments in improving road safety, the rising need to ease traffic congestion, and growing urbanization. However, the high capital and maintenance costs of traffic management systems restrain the growth of this market.
The global traffic management systems market is segmented by offering (hardware (surveillance cameras, sensors, display boards/digital signages, and other hardware), solutions (traffic monitoring (vehicle identification and tracking, overloaded vehicle detection, bicycle and pedestrian monitoring, congestion management & control, and vehicle speed monitoring), traffic signal control, tolling & faring, remote enforcement, route planning & optimization, and other solutions), services (consulting services, deployment & integration services, and maintenance & support services)), deployment mode (on-premise deployments and cloud-based deployments), technology (IoT, AI, big data, cloud computing and other technologies). The study also evaluates industry competitors and analyses the market at the regional and country levels.
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Based on offering, the global traffic management systems market is segmented into hardware, solutions, and services. In 2024, the hardware segment is expected to account for the largest share of 53.8% of the traffic management systems market. However, the solutions segment is expected to record the highest CAGR during the forecast period. The growth of this segment is driven by the growing concern about traffic congestion and the rising need for remote enforcement solutions to identify and penalize traffic violations. In addition, several players operating in the market are focusing on developing advanced solutions to improve traffic flows and the increased adoption of adaptive traffic signal control. For instance, in July 2023, PTV Planung Transport Verkehr GmbH (Germany), a global market leader in mobility modeling and simulation software, launched a cloud-based tool that uses machine learning to predict traffic congestion up to two hours in advance.
Based on deployment mode, the global traffic management systems market is segmented into cloud-based deployments and on-premise deployments. In 2024, the cloud-based deployments segment is expected to account for the larger share of the global traffic management systems market. Moreover, the cloud-based deployments segment is expected to record the highest CAGR during the forecast period. The growth of this segment is driven by the rapid evolution of new security and advanced capability avenues for cloud-based deployments. For instance, in July 2020, Econolite Group, Inc. (U.S.), a company engaged in developing mobility products and software, launched Centracs Mobility, a highly flexible cloud-based software solution platform designed to provide added value and actionable information, augmenting the traffic management software toolset.
Based on technology, the global traffic management systems market is segmented into AI, big data, IoT, cloud computing, and other technologies. In 2024, the IoT segment is expected to account for the largest share of 33% of the traffic management systems market. Moreover, the IoT segment is projected to record the highest CAGR during the forecast period. The growth of this segment is driven by the growing use of connected devices in smart cities and the increasing integration of IoT technology in traffic management systems to ensure safe and hassle-free mobility. In addition, the benefits of IoT in traffic management, such as enabling connectivity across and between traffic management systems, increasing safety across intersections and highways, and providing accident detection capabilities, also contribute to segment growth.
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Based on geography, the traffic management systems market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024 Asia-Pacific is expected to account for the largest share of 30.4% of the traffic management systems market. The Asia-Pacific traffic management systems market is estimated to be worth USD 6.99 billion in 2024.
Moreover, Asia-Pacific is expected to record the highest CAGR during the forecast period.  The growth of this market is driven by stakeholders’ focus on the development of traffic management systems, rapidly growing urbanization in the region and government initiatives for road infrastructure. For instance, in July 2020, Huawei Technologies Co., Ltd. (Japan), a leading global provider of information and communications technology (ICT) infrastructure and smart devices, launched an Intelligent Traffic Management Solution to address traffic problems. Huawei’s Intelligent Traffic Management Solution harnesses advanced technologies, including big data, AI, cloud, 5G, and more, to address accidents and heavy congestion problems.
Key Players:
Some of the key players operating in the traffic management systems market are IBM Corporation (U.S.), Johnson Controls International plc (Ireland), TomTom N.V. (Netherlands), Q-Free ASA (Norway), Indra Sistemas, S.A. (Spain), Cisco Systems, Inc. (U.S.), Huawei Investment & Holding Co., Ltd. (China), Cubic Corporation (U.S.), Yunex GmbH (Germany), Oriux (U.S.), Kapsch TrafficCom AG (Austria), SWARCO AG (Austria), TransCore (U.S.), Teledyne FLIR LLC (U.S.), PTV Planung Transport Verkehr GmbH (Germany), Chevron Traffic Management Limited (U.K.), Onnyx Electronisys Pvt. Ltd. (India), Miovision Technologies Incorporated (Canada), Econolite Group, Inc. (U.S.), and Bercman Technologies AS (Estonia).
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Scope of the report:
Traffic Management Systems Market Assessment, by Offering
HardwareSurveillance CamerasSensorsDisplay Boards/Digital SignagesOther HardwareSolutionsTraffic MonitoringVehicle Identification and TrackingOverloaded Vehicle DetectionBicycle and Pedestrian MonitoringCongestion Management & ControlVehicle Speed MonitoringTraffic Signal ControlTolling & FaringRemote EnforcementRoute Planning & OptimizationOther SolutionsServicesConsulting ServicesDeployment & Integration ServicesMaintenance & Support ServicesTraffic Management Systems Market Assessment, by Deployment Mode
Cloud-based DeploymentsOn-premise DeploymentsTraffic Management Systems Market Assessment, by Technology
IoTAIBig DataCloud ComputingOther TechnologiesTraffic Management Systems Market Assessment, by Geography
North AmericaU.S.CanadaEuropeGermanyU.K.FranceItalySpainRest of EuropeAsia-PacificChinaJapanIndiaSouth KoreaRest of Asia-PacificLatin AmericaMiddle East & AfricaUnlock Opportunities: Buy Now-
https://www.meticulousresearch.com/Checkout/18299147 
Related Report:
Smart Transportation Market by Transportation Mode, Product Type (Solutions & Services), Application (Mobility as a Service, Route Information, Route Guidance, Public Transport, Transit Hubs, Connected Cars), and Region – Global Forecast to 2028
Digital Signage Market Product Type (Videowall, Kiosk, Menu boards and Billboards) Component (Hardware (LCD, LED and OLED)), Services), Application, Industry Vertical (Retail, Hospitality, Entertainment, Transportation, Healthcare) – Global Forecast to 2027
Smart Cities Market by Solution (Smart Citizen Services, Smart Environment, Smart Buildings, Smart Transportation, Smart Utilities, Other Smart Solutions), Component (Hardware, Software, Services), Technology, Geography – Global Forecast to 2030
Location Intelligence Market by Offering, Deployment Mode, Organization Size, Sector (Transportation & Logistics, Retail & E-Commerce, Government & Defense, BFSI, Travel & Tourism) – Global Forecast to 2030
Parking Management Market by Component (Solution, Services), Technology (Image Processing, Reservation Based, RFID, Visible Light Communication), End User (Retail, Entertainment, and Leisure), Deployment, and Parking Site – Global Forecast to 2031
Related Reports:
Government Investments in Improving Road Safety Driving the Implementation of Traffic Management Systems
Top 10 Companies in Traffic Management Systems Market
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact:
Mr. Khushal BombeMeticulous Market Research Inc.1267 Willis St, Ste 200 Redding,California, 96001, U.S.USA: +1-646-781-8004Europe : +44-203-868-8738APAC: +91 744-7780008Email- [email protected] Visit Our Website: https://www.meticulousresearch.com/Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-researchContent Source: https://www.meticulousresearch.com/pressrelease/907/traffic-management-systems-market-2031
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InterSystems TrakCare and InterSystems IRIS for Health to underpin deployment of fully unified future-ready AI-driven healthcare ecosystem at NEOM

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RIYADH, Saudi Arabia, July 24, 2024 /PRNewswire/ — InterSystems, a creative data technology provider dedicated to helping customers solve their most critical scalability, interoperability, and speed challenges, and NEOM, the sustainable development taking shape in northwest Saudi Arabia, today announced a groundbreaking partnership to revolutionize the healthcare experience within NEOM.

The partnership enables NEOM to deploy InterSystems TrakCare® across its healthcare facilities, which currently include one hospital and 41 clinics. TrakCare is a unified health information system that provides clinical, administrative, and financial information as a single source of truth for each patient and offers enhanced clinical decision support capabilities.
Additionally, by the end of 2024 InterSystems IRIS® for Health will centralize NEOM’s clinical application data to facilitate the development of innovative health programs. InterSystems IRIS for Health is a comprehensive, cloud-first digital health development platform that provides all the building blocks needed for Machine Learning and to work with practically any healthcare data standard, including HL7® FHIR®.
By adding IRIS for Health to their health ecosystem NEOM will significantly enhance the overall individual’s experience and move towards realizing NEOM’s ‘one patient, one record’ approach.
As a flexible and powerful healthcare information system TrakCare equips NEOM with extensive data capabilities, and as a digital health development platform IRIS for Health facilitates NEOM’s use of Artificial Intelligence (AI) driven technology. Combining these offerings empowers healthcare providers to make better informed decisions that optimize operations effectively for world-class healthcare services.
“This partnership marks a significant milestone in our mission to advance healthcare through innovative technology,” said Ali Abi Raad, Country Manager for the Middle East, India, and South Africa, InterSystems. “We are proud to support NEOM and their vision of building a digitally integrated healthcare ecosystem and becoming a global leader in health and well-being.”
“The partnership with InterSystems is a significant milestone in realizing our digital first and personalized prevention focused healthcare system. To realize this vision, we need flexible and data standards driven technology partners who are committed to our ‘one patient, one record’ approach.” – Dr Mahmoud Alyamany, Sector Head, NEOM Health & Wellbeing.
About InterSystems
Established in 1978, InterSystems is the leading provider of next-generation solutions for enterprise digital transformations in the healthcare, finance, manufacturing, and supply chain sectors. Its cloud-first data platforms solve interoperability, speed, and scalability problems for large organizations around the globe. InterSystems is committed to excellence through its award-winning, 24×7 support for customers and partners in more than 80 countries. Privately held and headquartered in Cambridge, Massachusetts, InterSystems has 39 offices in 28 countries worldwide. For more information, please visit InterSystems.com.
About NEOM
NEOM is an accelerator of human progress and a vision of what a new future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this new future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.
NEOM will include hyperconnected, cognitive cities, ports and enterprise zones, research centers, sports and entertainment venues and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate, and commercialize new technologies and enterprises in groundbreaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity.
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Zesty Introduces Cloud Insights and Automation Platform To Ensure Optimization and Cloud Operational Excellence

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With prescriptive insights and AI automation for cloud infrastructure management for multiple CSPs, Zesty’s platform makes it simple to optimize cloud spending and performance, improve utilization rates, and create new opportunities for FinOps and DevOps teams
SAN MATEO, Calif., July 24, 2024 /PRNewswire/ — Zesty, a leader in automated cloud infrastructure management, announced today the launch of its Insights and Automation Platform. Designed to support a multi-cloud strategy and transform cloud challenges into opportunities for FinOps and DevOps teams, the platform optimizes cloud spending and improves utilization rates with prescriptive insights and automation, empowering companies to focus on innovation, not cloud or budget management.

As global innovation drives continuous exponential cloud growth, more than half of CIOs have reported an increase in their IT budget for this year specifically to enhance their capacity for financing new projects. Overseeing multiple vendors, intricate cost structures, and ever-evolving company needs have created enormous complications for companies as they scale and budget. While R&D teams prioritize leveraging cloud services to drive innovation and competitive advantage, Finance teams focus on controlling costs and ensuring budget adherence.
Zesty’s platform incorporates new insights to drastically simplify SMB and enterprise cloud cost management by prioritizing the highest value recommendations for FinOps teams. For example, the recommendations focused on reducing unused resources alone can help companies cut costs by 7%, which in some cases represents millions of dollars annually. The platform also hosts Zesty’s AI-driven flagship solutions, Commitment Manager and Zesty Disk, which automatically scale cloud resources up and down and identify potential savings across services. Zesty’s integration of insights and automation ensures that cloud investments consistently align with evolving business objectives with even greater efficiency and savings.
“CIOs are constantly exploring avenues to finance new projects. The Zesty Insights and Automation Platform will play a pivotal role in identifying areas of waste and help to free those funds for innovative projects. Machine learning capabilities and predictive analytics are driving serious returns for FinOps teams, with some of our customers recovering over a million dollars a year from cloud waste and using that to amplify innovation,” said Maxim Melamedov, CEO and Co-Founder of Zesty. “Our mission is to help businesses easily eliminate cloud-related waste in all its forms, financial, cloud resources, environmental, and time. Our platform comes at a critical time given the industry’s urgent need for effective financial management of cloud operations. Companies across all industries are desperate for a guide on their FinOps journey, and we are excited to be able to help.”
Zesty sets a new standard for the fragmented FinOps industry, providing a unified and efficient approach to cloud management, transforming visibility into action with prescriptive insights and automation, optimizing services such as AWS’ EC2, EBS, RDS, S3, ELB, EIP, and Azure’s Virtual Machines. Fueling its commitment to enhancing cloud infrastructure efficiency, Zesty manages billions in AWS contracts. Zesty’s customer-centric approach earned the company a near-perfect (4.9/5) CSAT (Customer Satisfaction Score) in 2023.
To learn more about Zesty’s Insights and Automation Platform or to book a demo, click here.
About Zesty
Zesty helps organizations accelerate innovation with its cloud infrastructure optimization platform. Powered by machine learning, Zesty provides FinOps and DevOps teams with prescriptive insights and automation to achieve the ideal utilization of cloud resources and enables CIOs to balance operational excellence and costs. Zesty’s optimization platform helps companies efficiently allocate resources for applications, with solutions for compute, storage, containers, databases, and more, saving time and money.
Founded in 2019, Zesty was built with the vision of making the cloud more affordable and accessible while reducing waste. With offices in San Mateo, Tel Aviv, Kiev, New York, and London, Zesty supports thousands of organizations, helping them get maximum value out of their cloud infrastructure. To learn more, visit https://zesty.co/.
Media Contact Kate Schoenstadt [email protected] IL: +972(0)-54-7776684
 

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Zenoo calls for collaboration to tackle AI fraud in banking

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CAMBRIDGE, England, July 24, 2024 /PRNewswire/ — UK technology company Zenoo warns the use of AI in banking fraud is just getting started – and collaboration with AI specialists is required to stem its flow.

Cambridge-based Zenoo – whose clients include London Stock Exchange, Experian, Transunion and NASA – supplies digital onboarding and protection from financial crime for businesses and has issued a warning to the banking community that the malevolent use of AI will only become more sophisticated and prevalent in the future.
Zenoo UK managing director George Taylor said: “It’s an enormous concern how quickly and significantly AI is being innovated to assist in banking fraud. In particular, social engineering attacks to steal personal information, enable identity theft and unauthorised access to bank accounts, is becoming remarkably advanced.”
Key areas of concern include Psychographic Profiling – where AI will analyse extensive data to create detailed psychographic profiles of individuals, tailoring social engineering attacks to exploit specific psychological traits – and Manipulative Interactions where the rising use of chatbots and virtual assistants in banking will be taken advantage of to engage in prolonged, convincing interactions with targets to extract sensitive information or induce them to perform actions that compromise their security.
Taylor is calling for banking to respond to the AI threat with AI too by collaborating with AI defence systems that can learn and adapt in real-time to detect and respond to emerging threats and machine learning models to identify and predict potential fraud based on evolving patterns and behaviours.
He adds: “The key word in combatting the AI threat is ‘collaboration’. Here at Zenoo we partner with cutting edge providers of the latest AI deepfake detection solutions which can be easily integrated into existing or new customer on boarding flows to combat fraud. We must take advantage of those specialists who are analysing and responding to the AI threat on a daily basis”.
Visit Zenoo to learn more or book a demo.
About Zenoo
Zenoo specialises in the remote onboarding of customers for international companies to help them improve their conversion rates, breaking down barriers and making it easier for their customers to open accounts online. Visit partner.zenoo.com for further information. 
Media enquiriesContact Bruce Ackland on +44 7884 076548 or email [email protected] 

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