What is the Historic and Current Scenario of the Traffic Signals Market?
The traffic signals market has seen considerable growth due to a variety of factors.
• The market size for traffic signals has seen robust growth in the past few years. It is projected to rise from $27.35 billion in 2024 to $29.05 billion in 2025, with a compound annual growth rate (CAGR) of 6.2%.
The substantial growth observed in the historical timeframe can be accredited to potent economic development in burgeoning markets, the establishment of new traffic signals to enhance traffic management and safety, along with amplified investments in the development of road infrastructure.
What is the Forecasted Market Size and CAGR for the Traffic Signals Market?
The traffic signals market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of the traffic signals is anticipated to witness substantial expansion in the forthcoming years, reaching a value of $36.54 billion in 2029 with a compound annual growth rate (CAGR) of 5.9%.
This upward trend during the anticipated period can be attributed to factors such as escalating urbanization, a rise in road traffic mishaps, and an upsurge in flight traffic. Foreseen trends for this period consist of an emphasis on LED technologies for enhanced illumination, reduced power utilization, and extended lifespan. Moreover, the utilization of artificial intelligence to observe traffic congestion and aid in traffic regulation, as well as the development of virtual traffic lights to eradicate the necessity for stop lights waiting times are additional prominent trends.
What Are the Critical Driver Fuelling the Traffic Signals Market's Growth?
The initiation of new traffic indicators to boost traffic speed and decrease mishaps is bolstering the expansion of the traffic signals industry. These signals function as a system placed at road junctions and pedestrian walkways to regulate traffic movement. For example, in May 2023, The Nevada Department of Transportation, an agency operating under the US government, undertook a mission to install a new traffic light and renovate U.S. 50. Approximately 19,000 vehicles commute on this highway corridor daily and the initiative aimed at intensifying its safety and mobility. This increased need for new traffic signals promoted the demand in the traffic signals industry, thus stimulating its growth.
What Are The Principal Market Segments In The Global Traffic Signals Healthcare Industry?
The traffic signals market covered in this report is segmented –
1) By Type Of Power: Electric Power, Solar Energy
2) By Product Type: Portable, Stationary
3) By End-User: Railway, Airport, Urban Traffic, Other End Users
Subsegments:
1) By Electric Power: Conventional Electric Traffic Signals, LED Traffic Signals Powered By Electricity, Smart Traffic Signals Connected To The Power Grid
2) By Solar Energy: Solar-powered Traffic Signals, Hybrid Systems (Solar And Electric), Standalone Solar Traffic Lights For Remote Locations
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Which Emerging Market Trends Are Altering The Traffic Signals Market?
Artificial intelligence is increasingly being recognized as a growing trend in the traffic signals market. AI-equipped traffic signals have the potential to decrease traffic jams. AI refers to the simulation of human intelligence in machines that can perform tasks usually requiring human intelligence, such as visual perception, speech recognition, decision-making, and language interpretation. For example, in June 2022, the Greater Hyderabad Muncipal Corporation (GHMC) introduced new Adaptive Traffic Signal Control (ATSC) systems that adjust the color of traffic signals in response to real-time traffic data. The ATSC system, by combining local and network-level optimization, minimizes delays and enhances the traffic stream along the city's main routes. The Centre for Development of Advanced Computing (C-DAC) has developed the Composite Signal Control Strategy (CoSiCoSt), an innovative adaptive control method. CoSiCoSt alters the cycle time, green splits, and offsets in correlation with nearby intersections to manage real-time, area-wide traffic.
Who Are the Key Players in the Traffic Signals Market?
Major companies operating in the traffic signals market include:
• LITE-ON Technology Corp
• Econolite Group
• Oriux
• Swarco AG
• Traffic Technologies Ltd
• North America Traffic
• Ver-Mac
• ARCUS USA Inc
• D G Controls Ltd
• Alphatronics NV
• Kyosan Electric Mfg. Co. Ltd.
• Envoys Electronic Pvt. Ltd
• Sumitomo Electric Industries. Ltd.
• Trafitek Solutions Pvt Ltd
• Efkon India Pvt.
• ITS Planners and Engineers
• Microtrans Infratech Pvt. Ltd
• Onnyx Electronisys Pvt. Ltd
• Pfannenberg Group Holding
• BELFOX Torautomatik GmbH
• Dialight
• SRL
• E2S Warning Signals
• Johnson Controls
• ELINTEL
• La Semaforica srl
• CROSS Zlín
• a.s
• SEA Company
• Federal Signal
• McCain Traffic Systems
• K2 Traffic Engineering. Inc
• Horizon Signal Technologies
• General Electric
• Leotek Electronics USA LLC
• Peek Traffic
• WERMA
• Traffic Safety Corp
• Pat-Traffic / IRD Argentina
• BBE Led
• SMB Safety Equipment Manufacturing LLC
• Mtp Traffic Sign LLC
• Automotor Traffic Signal Co
• Zama Traffic Signals
• TSA International
• Syntell (Pty) Ltd
What are the Regional Insights into the Traffic Signals Market?
Asia-Pacific was the largest region in the traffic signals market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global traffic signals market report during the forecast period. The regions covered in the traffic signals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
