Aug 23, 2021   SOURCE: BusinessWire

Traffic Signals Global Market Research Report 2021 Featuring SWARCO AG; Envoys; Aldridge Traffic Systems; Federal Signal; DG Controls - ResearchAndMarkets.com

The "Traffic Signals Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.

The global traffic signals market is expected to grow from $139.16 billion in 2020 to $145.84 billion in 2021 at a compound annual growth rate (CAGR) of 4.8%. The market is expected to reach $181.94 billion in 2025 at a CAGR of 6%.

Major players in the traffic signals market are, SWARCO AG, Envoys, Aldridge Traffic Systems, Federal Signal, DG Controls, Econolite Group, Horizon Signal Technologies, Arcus Light, and General Electric.

The traffic signals market consists of sales of traffic signals and related services. They are used in safeguarding pedestrians and automobiles at busy intersections and prevents excessive traffic delays. Traffic signals, also known as traffic lights are signalling devices located at intersections between roads, pedestrian crossings and other locations to ensure safety in the orderly flow of traffic.

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.

The traffic signals market covered in this report is segmented by type of power into electric power and solar energy. It is also segmented by product type into portable, stationary and by end use into railway, airport, urban traffic and others.

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.

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

5.1. Global Traffic Signals Historic Market, 2015-2020, $ Billion

5.1.1. Drivers of the Market

5.1.2. Restraints on the Market

5.2. Global Traffic Signals Forecast Market, 2020-2025F, 2030F, $ Billion

5.2.1. Drivers of the Market

5.2.2. Restraints on the Market

6. Traffic Signals Market Segmentation

6.1. Global Traffic Signals Market, Segmentation by Type of Power, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

  • Electric Power
  • Solar Energy

6.2. Global Traffic Signals Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

  • Portable
  • Stationary

6.3. Global Traffic Signals Market, Segmentation by End Use, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

  • Railway
  • Airport
  • Urban Traffic
  • Others

7. Traffic Signals Market Regional and Country Analysis

7.1. Global Traffic Signals Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

7.2. Global Traffic Signals Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

Companies Mentioned

  • SWARCO AG
  • Envoys
  • Aldridge Traffic Systems
  • Federal Signal
  • DG Controls
  • Econolite Group
  • Horizon Signal Technologies
  • Arcus Light
  • General Electric
  • Alphatronics
  • Trafitronics
  • Leotek
  • Sinowatcher Technology
  • Peek Traffic
  • Pfannenberg
  • WERMA
  • Dialight
  • Fama Traffic
  • Traffic Technologies
  • Anbang Electric
  • Jingan
  • Vltronics
  • North America Traffic
  • Voxson
  • Traffic Safety Corp.
  • Yaham
  • Messagemaker
  • Hunan Xiangxu Traffic & Lighting Co. Ltd.
  • D.G. Controls
  • E2S

For more information about this report visit https://www.researchandmarkets.com/r/6rv00