The Business Research Company’s Traffic Signals Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Traffic Signals Global Market Report 2023 evaluates traffic signals market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global traffic signals market is expected to grow from $38,101.5 million in 2027 at a rate of 7.8%. The market is then expected to grow at a CAGR of 7.4% from 2027 and reach $54,492.6 million in 2032.
The increasing road traffic accidents are expected to be a major driver for the traffic signals market. With the growing population, and its need for more cars, two wheelers and buses, road and train accidents have increased and are expected to grow in the future. Hence, governments across the world are expected to pay more attention towards road safety, which will help the traffic signals market grow. Commuters who use the roads frequently, such as motorcyclists, cyclists, pedestrians and users of public transportation, are more likely to die in road crashes in South Asia than anywhere else in the world. For instance, in the US, an estimated 42,915 individuals were killed in motor vehicle traffic crashes last year(2021), up 10.5% from the 38,824 fatalities in 2020, according to US-based government agency, National Highway Traffic Safety Administration. Therefore, increasing road traffic accidents are expected to be a major driver for this market.
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The traffic signals market segments in the report are:
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
The table of contents in TBRC’s traffic signals market report includes:
- Executive Summary
- Table Of Contents
- List Of Figures
- List Of Tables
- Report Structure
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- Company Profiles
- Key Mergers and Acquisitions
- Opportunities And Strategies
- Conclusions And Recommendations
- Appendix
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