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Intelligent Traffic Management System Market Is Expected To Reach $41.22 Billion by 2034: Fact.MR

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High Focus of Governments on Road Safety and Increasing Smart City Projects Widening Application Scope of Intelligent Traffic Management Systems

ROCKVILLE, Md., May 30, 2024 /PRNewswire/ — Increasing measures to combat traffic congestion and the growing number of smart city projects are leading to the increasing installation of intelligent traffic management systems for traffic control. The global intelligent traffic management system market is valued at US$ 21.55 billion in 2024 and is expected to reach a valuation of US$ 41.22 billion, with a growing CAGR of 6.7% by the end of 2034, as revealed in a recently updated report by Fact.MR, a market research and competitive intelligence provider.

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Heightened road safety measures are driving the demand for intelligent traffic management systems for effective and real-time information about traffic. Urbanization is taking place at a rapid pace across regions. Therefore, with rising population density, an increase in traffic congestion is also being experienced, which is leading to several transportation difficulties. This is having a positive impact on the demand for intelligent traffic management systems for offering real-time data about traffic mobility.

Key Takeaway from Market Study

Worldwide demand for intelligent traffic management systems is anticipated to increase at a CAGR of 6.7% from 2024 to 2034.

Federal & provincial governments are projected to account for 39.4% share of the global market by 2034.

Global sales of integrated urban traffic control systems are forecasted to rise at a CAGR of 7% and reach US$ 10.26 billion by 2034-end.

East Asia is approximated to account for 33.7% of the global market revenue share by the end of 2034.

Demand for intelligent traffic management systems in South Korea is evaluated to increase at 9.9% CAGR from 2024 to 2034.

“Increasing requirements for real-time traffic information from drivers and passengers along with growing number of vehicles is generating high demand for intelligent traffic management systems for controlling traffic congestion,” says a Fact.MR analyst.

High Usage of Intelligent Traffic Management Systems in the United States for Effective Transport Infrastructure

Demand for intelligent traffic management systems in the United States is forecasted to increase at a CAGR of 7.6% and reach a value of US$ 7.89 billion by 2034-end. Growing requirements for intelligent traffic management systems are attributed to their use in tracking vehicular congestion for ensuring improved efficiency in transport infrastructure. In addition, these systems ensure the availability of real-time information to consumers about traffic conditions.

Key Market Players

Beijing E-Hualu Information Technology Co. Ltd.Quarterhill Inc.Kyosan Electric Manufacturing Co. Ltd.Q-Free ASADahua Technology Co. Ltd.IBM CorporationBaumer Holding AGSiemens AGIteris Inc.Econolite Control Products, Inc.

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Competitive Landscape

Leading market competitors are capitalising on the increased demand for intelligent traffic management systems across a wide range of applications. They rely on partnerships, collaborations, and acquisitions from major, medium, and small vendors. Other steps performed by market players to gain a competitive advantage include new product creation, providing high-quality products, and managing supply chain systems.

For instance:

Indra is one of the prominent global technology engineering organizations, which is catering to the requirements of the defense, mobility, and aerospace sectors. In October 2023, it planned to centralize the management of roads of Transurban in Queensland with the assistance of advanced traffic control systems, which are equipped with artificial intelligence.

Country-wise Insights

In a newly updated analysis, Fact.MR, a market research and competitive intelligence service, claims that East Asia will account for 33.7% of the worldwide market by 2034. The growing population in some regional countries, such as China, is expected to lead to traffic congestion as the number of vehicles on the road increases. As a result, intelligent traffic management technologies are used to address this issue.

The United States is expected to account for 72.5% of the North American market by 2034. In recent years, the country’s ICT sector has seen a number of breakthrough innovations. The country is experiencing an increase in demand for intelligent traffic management systems for tracking vehicular congestion in order to improve the effectiveness of transportation systems by providing real-time information on traffic infrastructure and conditions. 

Explore More Trending Report Published by Fact.MR Research: 

Unmanned traffic management market is valued at $1,057.9 million in 2022 and is projected to grow at a CAGR of 18.4%, reaching $5,717.4 million by 2032

Surveillance drone market is valued at $5,512.1 million in 2023 and is projected to grow at a CAGR of 14.4%, reaching $21,163.2 million by 2033

Minibus market is calculated to reach US$ 9.92 billion in 2024 and is estimated to increase at a 3.6% CAGR to reach US$ 14.27 billion by the end of 2034

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the intelligent traffic management system market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights into the market based on product type (integrated urban traffic control systems, variable/dynamic message signs, emergency response systems, border control systems, electronic toll collection systems, parking management systems, violation & measurement systems, tunnel management systems, freeway management systems), spender type (infrastructure enterprises & PPSs, federal & provincial governments, industries & commercial enterprises), and component (traffic controllers & signals, surveillance cameras, video walls, servers, 3D simulators, GUI workstations, detectors & sensors), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).

About Fact.MR:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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Virtusa Earns 2024 Great Place to Work® Certification™ for Third Consecutive Year

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SOUTHBOROUGH, Mass., Dec. 23, 2024 /PRNewswire/ — Virtusa Corporation, a global leader in digital business strategy, digital engineering, and IT services, is proud to announce its 2024 Great Place to Work® Certification™ for the third consecutive year. This recognition spans seven countries – India, USA, Canada, UK, UAE, Australia, and Singapore – and underscores Virtusa’s dedication to fostering a High-Trust, High-Performance workplace culture globally.

The certification is based on rigorous employee feedback, with Virtusa achieving an impressive Trust Index™ score of 79% and an Employee Net Promoter Score (eNPS) of 73%. Notably, 81% of employees agreed with the statement, “Taking everything into account, I would say this is a great place to work.”

Key areas of improvement over the past year include professional development, equal treatment, making a difference, and creating a welcoming environment.

“We are incredibly honored to receive the Great Place to Work® Certification™ for the third consecutive year,” said Lori Mullane, Chief People Officer at Virtusa. “This recognition reflects our unwavering commitment to creating an inclusive and empowering workplace where employees feel valued, supported, and inspired to achieve their best. Investing in a culture of trust, collaboration, and growth enables our teams to deliver exceptional value to our clients and communities.”

Virtusa’s commitment to professional development, diversity, and well-being reflects its efforts to build a supportive and inclusive environment. With industry-leading initiatives like Engineering IQ for career progression, robust upskilling programs, and a focus on belonging and fairness, Virtusa has created a culture where employees can thrive.

The Certification is a testament to Virtusa’s leadership in workplace culture, which supports over 30,000 employees globally. As the company continues to grow, its mission remains steadfast in providing a High-Trust, High-Performance environment that drives innovation, collaboration, and employee satisfaction.

For more information about Virtusa’s workplace culture and career opportunities, visit https://www.virtusa.com/careers.

About Great Place to Work®
Backed by 30 years of data, Great Place To Work is the global authority on workplace culture. Through its proprietary For All™ Model and Trust Index Survey, it gives organizations the recognition and tools to create a consistently positive employee experience. Its mission is to help every place become a great place to work for all, driving business growth, improving lives, and empowering communities. Through globally recognized and coveted Great Place To Work Certification and highly competitive Best Workplaces™ Lists, Great Place To Work enables employers to attract and retain talent, benchmark company culture, and increase revenue. Its platform enables leaders to truly capture, analyze and understand the experience of every employee, and compare outcomes with data collected from more than 100 million employees in 150 countries worldwide.

About Virtusa
Virtusa Corporation provides digital engineering and technology services and solutions for Forbes Global 2000 companies across industries, including financial services, healthcare, telecommunications, media, manufacturing, and technology. With a foundation in digital engineering, Virtusa empowers enterprises to navigate digital transformation, driving operational efficiency and measurable outcomes. Leveraging its Engineering First approach, Virtusa partners with organizations to tackle complex challenges, delivering solutions that ensure resilience and competitive advantage.

Virtusa is a registered trademark of Virtusa Corporation. All other company and brand names may be trademarks or service marks of their respective holders.

Media Contact: 
Paul Lesinski
Edelman
(971) 226-5299 
paul.lesinski@edelman.com 

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DogeRide Unleashes a New Era of Pet-Friendly Ridesharing in Denver

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DogeRide, Denver’s newest and most innovative ridesharing service, is proud to announce the official launch of its pet-friendly hailing app in Denver, CO Metro Area.

DENVER, Dec. 23, 2024 /PRNewswire-PRWeb/ — DogeRide, Denver’s newest and most innovative ridesharing service, is proud to announce the official launch of its pet-friendly hailing app.

“We wanted to create a ridesharing service that embraces that spirit, providing a solution for dog lovers who want their furry companions to be part of their daily lives. DogeRide is more than a rideshare; it’s a celebration of Denver’s dog-friendly culture.”

Designed to bring convenience and joy to pet lovers, DogeRide allows drivers to ride with their dogs as companions while welcoming riders to travel with their furry friends. With Denver being one of the most dog-friendly cities in the country, this service is set to revolutionize how residents and their dogs move around town.

DogeRide aims to address a growing demand for pet-friendly transportation. Riders no longer have to worry about leaving their four-legged friends behind or struggling to find a rideshare that accommodates their pets. The DogeRide app allows seamless booking and ensures all participating drivers are comfortable with canine passengers.

To ensure a safe and pleasant ride, dogs must weigh under 80 pounds and be on a leash or in a crate during the journey.

Denver is a city that thrives on community and outdoor adventures, and dogs are a huge part of that lifestyle,” said Phil Warfield and Divine Tumenta, both Co-founders of DogeRide. “We wanted to create a ridesharing service that embraces that spirit, providing a solution for dog lovers who want their furry companions to be part of their daily lives. DogeRide is more than a rideshare; it’s a celebration of Denver’s dog-friendly culture.”

The app’s user-friendly interface allows riders to indicate when they’re bringing a dog along, ensuring that drivers are prepared for their canine co-pilots. Additionally, all DogeRide drivers are trained to prioritize safety and comfort for both human and canine passengers. From trips to the vet or park to daily commutes, DogeRide is committed to making every journey tail-waggingly fun and hassle-free.

DogeRide also offers unique features tailored to the needs of dog owners and pet-loving drivers. Drivers are encouraged to bring their dogs along for companionship while working, creating a warm and welcoming atmosphere for riders. This innovative approach not only enhances the drivers’ experience but also provides riders and their dogs with a sense of familiarity and connection.

“DogeRide is the ultimate ridesharing service for dog lovers because we’ve designed it with the needs of Denver’s vibrant pet-owning community in mind,” said Chad Harris, Co-founder of DogeRide. “Whether you’re heading to the dog park, running errands, or going on an adventure, DogeRide ensures your furry friend can come along for the ride. We’re thrilled to be part of Denver’s pet-friendly ecosystem.”

DogeRide’s mission is to create a safe, reliable, and dog-inclusive transportation option that reflects the unique lifestyle of Denver residents. As part of its commitment to the community, DogeRide plans to partner with local animal shelters and pet organizations to support adoption events and promote responsible pet ownership.

DogeRide is now available for download on iOS and Android devices. For more information, visit www.dogeride.com.

Media Contact

Nick Dell, DogeRide Technologies Inc, 1 7207817533, support@dogeride.com, https://www.dogeride.com/ 

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SOURCE DogeRide Technologies Inc

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Omnis Investments Limited Extends Relationship with SS&C

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WINDSOR, Conn., Dec. 23, 2024 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Omnis Investments Limited has extended its transfer agency relationship with SS&C. The contract services Omnis’s range of mutual funds, which invest across several asset classes and regions.

With more than GBP10 billion of assets under management, Omnis is one of U.K.’s largest asset managers and works closely with clients of The Openwork Partnership, a network of 4,200 financial advisers across the country. Omnis also collaborates with 2plan wealth management, a leading wealth management firm in the U.K.

“SS&C is a long-term valued partner to Omnis, and we are looking forward to continuing our work together on ways to enhance the experience of our clients and achieve our goals,” said Simon Harris, Chief Operating Officer at Omnis. “Together with SS&C, we are committed to providing a high standard of service to all of our clients and evolving our digital service offering.”

“We are pleased to extend our valued long-term relationship with Omnis,” said Spencer Baum, Managing Director Head of Client Management, SS&C GIDS. “SS&C is committed to delivering exceptional omnichannel servicing and support to all customer types.”

Learn more about SS&C’s Global Investor and Distribution Solutions here.

About Omnis Investments Limited

Omnis Investments manages over GBP10 billion in assets, working as part of The Openwork Partnership, a network of 4,200 financial advisers across the country helping people look forward with confidence and optimism. Omnis has a range of funds and strategies across the full risk/return spectrum, managed by leading investment managers. The Omnis funds are only available through advisers of The Openwork Partnership and 2plan wealth management.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about
SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

Follow SS&C on Twitter, LinkedIn and Facebook.

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SOURCE SS&C

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