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Jul 02, 2023

Traffic lights market to grow by USD 601.64 million from 2022 to 2027

NEW YORK, Aug. 29, 2023 /PRNewswire/ -- The traffic lights market is set to grow by USD 601.64 million from 2022 to 2027. However, the growth momentum will progress at a CAGR of 6.05% during the

NEW YORK, Aug. 29, 2023 /PRNewswire/ -- The traffic lights market is set to grow by USD 601.64 million from 2022 to 2027. However, the growth momentum will progress at a CAGR of 6.05% during the forecast period, according to Technavio. The growth of road transport infrastructure investment drives the growth of the traffic lights market. These investments lead to the expansion and development of new roads and highways. Furthermore, rapid urbanization and population growth in many regions have increased vehicular traffic. Also, investments in road transport infrastructure lead to the adoption of advanced technologies and intelligent traffic light systems are equipped with sensors, and data analytics capabilities can be deployed to optimize traffic management. Hence, such factors boost the growth of the market during the forecast period. The traffic lights market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. Alphatronics NV, ARCUS USA Inc., D G Controls Ltd., Econolite Control Products Inc., Envoys Electronic Pvt. Ltd., Federal Signal Corp., GE CURRENT, LITE ON Technology Corp., Mobotrex Inc., North America Traffic, Oriux, SRL Traffic Systems Ltd., SWARCO AG, Traffic Technologies Ltd., and Trastar Inc. are some of the major market participants -. To know about the vendor offerings - Request a sample report

The traffic lights market is fragmented, and the degree of fragmentation will accelerate. Improving traffic flow regulations will offer immense growth opportunities. However, the Issues with coordination of signal timings will hamper the market growth.

Traffic Lights Market 2023-2027: Drivers & Challenges

Issues with the coordination of signal timings challenge the growth of the traffic lights market. .

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Traffic Lights Market 2023-2027: Segment Analysis

Application

Product

Geography

Traffic Lights Market 2023-2027: Segmentation Highlights

The road segment will be significant for global market growth during the forecast period. Generally, traffic lights are used in various road settings, such as urban roads. Also, their usage is important for promoting efficient traffic management, reducing accidents, and enhancing overall transportation safety and convenience. Hence, such factors fuel the segment growth during the forecast period.

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others Buy the Report

Traffic Lights Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027

Detailed information on factors that will assist traffic lights market growth during the next five years

Estimation of the traffic lights market size and its contribution to the parent market

Predictions on upcoming trends and changes in consumer behavior

The growth of the traffic lights market across North America, Europe, APAC, South America, and Middle East and Africa

Analysis of the market's competitive landscape and detailed information on vendors

Comprehensive details of factors that will challenge the growth of traffic lights market vendors

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The air traffic control equipment market is estimated to grow at a CAGR of 6.54% between 2022 and 2027. The size of the market is forecast to increase by USD 2,258.3 million.

The global traffic control services market size is estimated to grow at a CAGR of 8% between 2022 and 2027. The size of the market is forecast to increase by USD 7,996.27 million.

Traffic Lights Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.05%

Market growth 2023-2027

USD 601.64 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.23

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 45%

Key countries

US, China, Australia, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Alphatronics NV, ARCUS USA Inc., D G Controls Ltd., Econolite Control Products Inc., Envoys Electronic Pvt. Ltd., Federal Signal Corp., GE CURRENT, LITE ON Technology Corp., Mobotrex Inc., North America Traffic, Oriux, SRL Traffic Systems Ltd., SWARCO AG, Traffic Technologies Ltd., and Trastar Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About USTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com

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SOURCE Technavio