Dublin, Nov. 08, 2022 (GLOBE NEWSWIRE) — The “Traffic Signals Global Market Report 2022, By Type Of Power, Product Type, End Use” report has been added to ResearchAndMarkets.com’s offering.
The global traffic signals market is expected to grow from $23.60 billion in 2021 to $25.89 billion in 2022 at a compound annual growth rate (CAGR) of 9.7%. The market is expected to reach $37.40 billion in 2026 at a CAGR of 9.6%.
The main product types of traffic signals are portable and stationary. Portable Traffic Signals (PTS) are forms of temporary traffic management on single carriageways and are an alternative to human flaggers while creating a safer work zone. The various types of power are electric power, and solar energy. The end uses of traffic signals are railway, airport, urban traffic and others.
The regions covered in the traffic signals market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Installing new traffic signals for increasing traffic speed and reducing accidents is contributing to the growth of the traffic signals market. Traffic signals are signalling systems mounted at road crossings and pedestrian crossings to monitor traffic flows. For instance, in 2020, according to ‘The Korea Bizwire’, the Korea Road Traffic Authority selected 80 intersections in the major urban areas of the country where gridlock is serious or traffic accidents occur regularly, and installed new traffic signals at the intersections that will help in reducing accidents and increases traffic Speed. This will lead to a better road infrastructure, with greater demand for traffic signals, which will boost the market growth. The installation of new traffic signals increased the demand for traffic signals, driving the market.
Color change (Light Emitting Diode) LED technology are increasingly being used in the traffic signals lights market with the ability to create an impact across the market. Manufacturers are focusing on the development of LED-based lights that are not only energy and cost efficient, but are also extremely when durable compared with incandescent lights. LED is a rapidly growing technology in the traffic signals light industry. For an instance, Luxofor traffic light, designed by a Russian art studio, Art Lebedev, the Luxofor reinvigorates, incorporated with LED technology is pretty simple and makes it more visible. Color change LED technology is energy-efficient and extremely sustainable and provides cost-benefit.
Artificial intelligence is seen as an emerging trend in the traffic signals market. Traffic signals with artificial intelligence can reduce traffic congestion. Artificial intelligence (AI) refers to human intelligence simulation in machines which are programmed and capable of performing tasks that normally requires human intelligence such as visual perception, speech recognition, decision making and language translation.
For instance, in 2019, the Bengaluru traffic management has announced plans to integrate traffic signals with AI to monitor vehicle density for secured management of traffic. Cameras can track traffic density under the systems powered by AI and will also help in determining the time to allow vehicles to clear a signal.
1) By Type Of Power: Electric Power; Solar Energy
2) By Product Type: Portable; Stationary
3) By End Use: Railway; Airport; UrbanTraffic; Others
Key Topics Covered:
1. Executive Summary
2. Traffic Signals Market Characteristics
3. Traffic Signals Market Trends And Strategies
4. Impact Of COVID-19 On Traffic Signals
5. Traffic Signals Market Size And Growth
6. Traffic Signals Market Segmentation
7. Traffic Signals Market Regional And Country Analysis
8. Asia-Pacific Traffic Signals Market
9. China Traffic Signals Market
10. India Traffic Signals Market
11. Japan Traffic Signals Market
12. Australia Traffic Signals Market
13. Indonesia Traffic Signals Market
14. South Korea Traffic Signals Market
15. Western Europe Traffic Signals Market
16. UK Traffic Signals Market
17. Germany Traffic Signals Market
18. France Traffic Signals Market
19. Eastern Europe Traffic Signals Market
20. Russia Traffic Signals Market
21. North America Traffic Signals Market
22. USA Traffic Signals Market
23. South America Traffic Signals Market
24. Brazil Traffic Signals Market
25. Middle East Traffic Signals Market
26. Africa Traffic Signals Market
27. Traffic Signals Market Competitive Landscape And Company Profiles
29. Key Mergers And Acquisitions In The Traffic Signals Market
29. Traffic Signals Market Future Outlook and Potential Analysis
- SWARCO AG
- Aldridge Traffic Systems
- Federal Signal
- DG Controls
- Econolite Group
- Horizon Signal Technologies
- Arcus Light
- General Electric
- Sinowatcher Technology
- Peek Traffic
- Fama Traffic
- Traffic Technologies
- Anbang Electric
- North America Traffic
- Traffic Safety Corp.
- Hunan Xiangxu Traffic & Lighting Co. Ltd.
- D.G. Controls
For more information about this report visit https://www.researchandmarkets.com/r/a34ykp