
Traffic Lights Market by Product (Smart Controller, Standard Controller), Application (Cyclists, Equestrians, Junction Signals), Connectivity - Global Forecast 2024-2030
Description
Traffic Lights Market by Product (Smart Controller, Standard Controller), Application (Cyclists, Equestrians, Junction Signals), Connectivity - Global Forecast 2024-2030
The Traffic Lights Market size was estimated at USD 13.95 billion in 2023 and expected to reach USD 14.89 billion in 2024, at a CAGR 7.18% to reach USD 22.69 billion by 2030.
Global Traffic Lights MarketTraffic lights, also known as traffic signals and stoplights, are devices used to control the flow of vehicular and pedestrian traffic at intersections and road crossings. They are generally placed at strategic locations to regulate the movement of vehicles and ensure safety on the roads. Traffic lights consist of multiple signal heads, each displaying different colored lights, such as red, yellow, and green, which convey specific instructions to drivers and pedestrians. Increasing emphasis on road safety, urban development, and construction of new roads, highways, and intersections drive the demand for traffic lights as a necessary component. Technical glitches and system failures associated with traffic lights hamper the market's growth. Integration of the Internet of Things (IoT) and vehicle-to-infrastructure (V2I) communication technology with traffic lights by market vendors is expected to enable communication with other devices and systems, facilitating real-time data exchange and coordination, subsequently expanding the scope of the traffic lights.
Regional Insights
Rapid urbanization, increasing infrastructure development, rising road safety concerns, and the adoption of smart city technologies are expanding the scope of traffic lights across the world. The United States and Canada have well-developed transportation networks, including highways, urban roadways, and intersections. Major cities and metropolitan areas in North America invest in advanced traffic management systems and technologies, including intelligent traffic signal systems and adaptive signal control, to enhance traffic flow and safety, creating a platform for the traffic signals market. Increasing emphasis on road safety and rising smart city initiatives across India, China, Japan, and Australia are raising the deployment of traffic lights in Asia-Pacific. According to the report by the World Bank, India has the highest incidence of road crash fatalities and injuries worldwide; although it only has 1% of the global automobiles, it accounts for 11% of all fatal road crash injuries, with 53 accidents occurring every hour. According to research, BRG-Sumitomo has officially started a USD 4.2 billion smart city project in Vietnam, completed by 2028 with significant investments in smart energy, smart traffic, smart learning, smart economics, smart governance, and smart living. European governments enforce the use of traffic control devices, including traffic lights, road signs, and road markings, to regulate traffic flow and ensure safety. Specific standards and guidelines are set for the design, placement, and maintenance of traffic lights, thereby driving the market growth in EMEA.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Traffic Lights Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Traffic Lights Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Traffic Lights Market, highlighting leading vendors and their innovative profiles. These include Alphatronics NV, ARCUS USA Inc., BRAUMS Pty Limited, D G Controls Ltd., Dialight PLC, Econolite Group, Inc., Envoys Electronic Pvt. Ltd., Federal Signal Corporation, Fortran Traffic Systems Limited, GE Current a Daintree Company, Hangzhou ZGSM Technology Co., Ltd., HOM Automation Pvt. Ltd., Horizon Signal Technologies Inc., HS-Vertriebs GmbH, La Semaforica srl, LITE-ON Technology Corporation, Microtrans Infratech Limited, Mobotrex Inc., North America Traffic, Pfannenberg Group Holding GmbH, Pyrotech Electronics Pvt. Ltd., SCAE SpA, Shenzhen Fama Intelligent Equipment Co. Ltd., Shenzhen Wide Way Optoelectronics Co., Ltd., Shingo Denzai Co., Ltd., Siemens AG, Sinowatcher Technology Co., Ltd., SRL Traffic Systems Limited, SWARCO AG, Traffic Technologies Pty Ltd., Trastar Inc., and WERMA Signaltechnik GmbH.
Market Segmentation & Coverage
This research report categorizes the Traffic Lights Market to forecast the revenues and analyze trends in each of the following sub-markets:
Product
Smart Controller
Standard Controller
Incandescent Lights
LED Lights
Application
Cyclists
Equestrians
Junction Signals
Pedestrians
Zebra Crossing
Connectivity
Wired Traffic Lights
Wireless Traffic lights
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom
The report offers valuable insights on the following aspects:
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
1. What is the market size and forecast of the Traffic Lights Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Traffic Lights Market?
3. What are the technology trends and regulatory frameworks in the Traffic Lights Market?
4. What is the market share of the leading vendors in the Traffic Lights Market?
5. Which modes and strategic moves are suitable for entering the Traffic Lights Market?
Note: PDF & Excel + Online Access - 1 Year
Table of Contents
182 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Limitations
- 1.7. Assumptions
- 1.8. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 4.1. Introduction
- 4.2. Traffic Lights Market, by Region
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Increasing traffic volume on roads and concerns about road accidents
- 5.1.1.2. Growing number of infrastructure development projects
- 5.1.1.3. Availability of traffic control measures and guidelines set by regulatory bodies
- 5.1.2. Restraints
- 5.1.2.1. Technical glitches and system failure issues with traffic signals
- 5.1.3. Opportunities
- 5.1.3.1. Increasing adoption of smart city initiatives worldwide
- 5.1.3.2. Growing technological advancements in the development of traffic lights
- 5.1.4. Challenges
- 5.1.4.1. Limited interoperability and standardization of traffic signals
- 5.2. Market Segmentation Analysis
- 5.3. Market Trend Analysis
- 5.4. Cumulative Impact of High Inflation
- 5.5. Porter’s Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
- 5.6. Value Chain & Critical Path Analysis
- 5.7. Regulatory Framework
- 6. Traffic Lights Market, by Product
- 6.1. Introduction
- 6.2. Smart Controller
- 6.3. Standard Controller
- 6.4.1. Incandescent Lights
- 6.4.2. LED Lights
- 7. Traffic Lights Market, by Application
- 7.1. Introduction
- 7.2. Cyclists
- 7.3. Equestrians
- 7.4. Junction Signals
- 7.5. Pedestrians
- 7.6. Zebra Crossing
- 8. Traffic Lights Market, by Connectivity
- 8.1. Introduction
- 8.2. Wired Traffic Lights
- 8.3. Wireless Traffic lights
- 9. Americas Traffic Lights Market
- 9.1. Introduction
- 9.2. Argentina
- 9.3. Brazil
- 9.4. Canada
- 9.5. Mexico
- 9.6. United States
- 10. Asia-Pacific Traffic Lights Market
- 10.1. Introduction
- 10.2. Australia
- 10.3. China
- 10.4. India
- 10.5. Indonesia
- 10.6. Japan
- 10.7. Malaysia
- 10.8. Philippines
- 10.9. Singapore
- 10.10. South Korea
- 10.11. Taiwan
- 10.12. Thailand
- 10.13. Vietnam
- 11. Europe, Middle East & Africa Traffic Lights Market
- 11.1. Introduction
- 11.2. Denmark
- 11.3. Egypt
- 11.4. Finland
- 11.5. France
- 11.6. Germany
- 11.7. Israel
- 11.8. Italy
- 11.9. Netherlands
- 11.10. Nigeria
- 11.11. Norway
- 11.12. Poland
- 11.13. Qatar
- 11.14. Russia
- 11.15. Saudi Arabia
- 11.16. South Africa
- 11.17. Spain
- 11.18. Sweden
- 11.19. Switzerland
- 11.20. Turkey
- 11.21. United Arab Emirates
- 11.22. United Kingdom
- 12. Competitive Landscape
- 12.1. FPNV Positioning Matrix
- 12.2. Market Share Analysis, By Key Player
- 12.3. Competitive Scenario Analysis, By Key Player
- 12.3.1. Agreement, Collaboration, & Partnership
- 12.3.1.1. Announcing LYT & Yunex Traffic Partnership to Enhance Urban Mobility Transit and Emergency Solutions
- 12.3.2. New Product Launch & Enhancement
- 12.3.2.1. SRL launches solar-powered, portable traffic signals
- 12.3.3. Investment & Funding
- 12.3.3.1. The U.S. DOT announces USD 94 million in SMART grants for state, local projects
- 12.3.3.2. Norwalk Gets USD 3.1 million in State Funding to Replace four Traffic Lights
- 13. Competitive Portfolio
- 13.1. Key Company Profiles
- 13.1.1. Alphatronics NV
- 13.1.2. ARCUS USA Inc.
- 13.1.3. BRAUMS Pty Limited
- 13.1.4. D G Controls Ltd.
- 13.1.5. Dialight PLC
- 13.1.6. Econolite Group, Inc.
- 13.1.7. Envoys Electronic Pvt. Ltd.
- 13.1.8. Federal Signal Corporation
- 13.1.9. Fortran Traffic Systems Limited
- 13.1.10. GE Current a Daintree Company
- 13.1.11. Hangzhou ZGSM Technology Co., Ltd.
- 13.1.12. HOM Automation Pvt. Ltd.
- 13.1.13. Horizon Signal Technologies Inc.
- 13.1.14. HS-Vertriebs GmbH
- 13.1.15. La Semaforica srl
- 13.1.16. LITE-ON Technology Corporation
- 13.1.17. Microtrans Infratech Limited
- 13.1.18. Mobotrex Inc.
- 13.1.19. North America Traffic
- 13.1.20. Pfannenberg Group Holding GmbH
- 13.1.21. Pyrotech Electronics Pvt. Ltd.
- 13.1.22. SCAE SpA
- 13.1.23. Shenzhen Fama Intelligent Equipment Co. Ltd.
- 13.1.24. Shenzhen Wide Way Optoelectronics Co., Ltd.
- 13.1.25. Shingo Denzai Co., Ltd.
- 13.1.26. Siemens AG
- 13.1.27. Sinowatcher Technology Co., Ltd.
- 13.1.28. SRL Traffic Systems Limited
- 13.1.29. SWARCO AG
- 13.1.30. Traffic Technologies Pty Ltd.
- 13.1.31. Trastar Inc.
- 13.1.32. WERMA Signaltechnik GmbH
- 13.2. Key Product Portfolio
- 14. Appendix
- 14.1. Discussion Guide
- 14.2. License & Pricing
- FIGURE 1. TRAFFIC LIGHTS MARKET RESEARCH PROCESS
- FIGURE 2. TRAFFIC LIGHTS MARKET SIZE, 2023 VS 2030
- FIGURE 3. TRAFFIC LIGHTS MARKET SIZE, 2018-2030 (USD MILLION)
- FIGURE 4. TRAFFIC LIGHTS MARKET SIZE, BY REGION, 2023 VS 2030 (%)
- FIGURE 5. TRAFFIC LIGHTS MARKET SIZE, BY REGION, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 6. TRAFFIC LIGHTS MARKET DYNAMICS
- FIGURE 7. TRAFFIC LIGHTS MARKET SIZE, BY PRODUCT, 2023 VS 2030 (%)
- FIGURE 8. TRAFFIC LIGHTS MARKET SIZE, BY PRODUCT, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 9. TRAFFIC LIGHTS MARKET SIZE, BY APPLICATION, 2023 VS 2030 (%)
- FIGURE 10. TRAFFIC LIGHTS MARKET SIZE, BY APPLICATION, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 11. TRAFFIC LIGHTS MARKET SIZE, BY CONNECTIVITY, 2023 VS 2030 (%)
- FIGURE 12. TRAFFIC LIGHTS MARKET SIZE, BY CONNECTIVITY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 13. AMERICAS TRAFFIC LIGHTS MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
- FIGURE 14. AMERICAS TRAFFIC LIGHTS MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 15. UNITED STATES TRAFFIC LIGHTS MARKET SIZE, BY STATE, 2023 VS 2030 (%)
- FIGURE 16. UNITED STATES TRAFFIC LIGHTS MARKET SIZE, BY STATE, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 17. ASIA-PACIFIC TRAFFIC LIGHTS MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
- FIGURE 18. ASIA-PACIFIC TRAFFIC LIGHTS MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 19. EUROPE, MIDDLE EAST & AFRICA TRAFFIC LIGHTS MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
- FIGURE 20. EUROPE, MIDDLE EAST & AFRICA TRAFFIC LIGHTS MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 21. TRAFFIC LIGHTS MARKET, FPNV POSITIONING MATRIX, 2023
- FIGURE 22. TRAFFIC LIGHTS MARKET SHARE, BY KEY PLAYER, 2023
Pricing
Currency Rates
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