The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033.
The Traffic Signals by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Traffic Signals Market:
https://www.thebusinessresearchcompany.com/report/traffic-signals-global-market-report
According to The Business Research Company’s Traffic Signals, The traffic signals market size has grown strongly in recent years. It will grow from $27.21 billion in 2023 to $29.01 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to strong economic growth in emerging markets, installation of new traffic signals for increased traffic and safety and increased investments in road infrastructure development.The traffic signals market size is expected to see strong growth in the next few years. It will grow to $38.97 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
The increasing trend of road accidents is expected to drive the growth of the traffic signal market going forward. Road accidents, also known as traffic accidents or car crashes, occur when vehicles collide with other vehicles, pedestrians, animals, objects, or veer off the road. Effective traffic signals, designed and positioned strategically, play a crucial role in accident prevention by regulating the movement of vehicles and pedestrians, thereby reducing the risk of collisions at intersections. For example, according to a report published by the National Highway Traffic Safety Administration in May 2022, there were 42,915 fatalities in motor vehicle traffic crashes in 2021, marking a 10.5% increase from the 38,824 incidents recorded in 2020. Consequently, the growing emphasis on road safety is expected to fuel the demand for traffic signals and drive market growth.
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The traffic signals market covered in this report is segmented –
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
Top Major Players
LITE-ON Technology Corp,
Econolite Group,
Oriux,
Swarco AG,
Traffic Technologies Ltd.
The traffic signals market report table of contents includes:
1. Executive Summary
- Traffic Signals Market Characteristics
- Traffic Signals Market Trends And Strategies
- Traffic Signals Market – Macro Economic Scenario
- Global Traffic Signals Market Size and Growth
- Traffic Signals Market Segmentation
- Traffic Signals Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Traffic Signals Market
- Traffic Signals Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Traffic Signals Market, Segmentation By Type Of Power, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Traffic Signals Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Traffic Signals Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: LITE-ON Technology Corp Financial Performance
Table 75: Econolite Group Financial Performance
Table 76: Oriux Financial Performance
Table 77: Swarco AG Financial Performance
Table 78: Traffic Technologies Ltd Financial Performance
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