The Business Research Company’s Traffic Signals Global Market Report 2021 : COVID-19 Impact And Recovery
LONDON, GREATER LONDON , UK, September 22, 2021 /EINPresswire.com/ — According to the new market research report ‘Traffic Signals Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the 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 growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $181.94 billion in 2025 at a CAGR of 6%. The installation of new traffic signals increased the demand for traffic signals, driving the market.
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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.
Trends In The Global Traffic Signals Market
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.
Global Traffic Signals Market Segments:
The global traffic signals market is further segmented based on type of power, product type, end use and geography.
By Type Of Power: Electric Power, Solar Energy
By Product Type: Portable, Stationary
By End Use: Railway, Airport, Urban Traffic, Others
By Geography: The global traffic signals market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Traffic Signals Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides traffic signals global market overviews, analyzes and forecasts market size and growth for the global traffic signals market, traffic signals global market share, traffic signals market players, traffic signals global market segments and geographies, traffic signals market’s leading competitors’ revenues, profiles and market shares. The traffic signals market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Traffic Signals Market Organizations Covered: 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.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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