Global Traffic Lights Market 2017-2021
About Traffic Lights
Traffic lights are an important element of traffic safety management to maintain safety on road for pedestrians and drivers. Increasing accidents and fatalities have driven the growth of the traffic lights market, as traffic lights provide drivers control on road and improve the flow of traffic. Another factor that has driven the growth of the market is the improvement in traffic flow regulations by traffic safety organizations by constantly upgrading and maintaining them and creating various pedestrian facilities, extra street lighting, traffic signal modifications, and signage marking improvements.
Technavio’s analysts forecast the global traffic lights market to grow at a CAGR of 6.04% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global traffic lights market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of traffic lights (portable traffic lights and traffic lamps) at the manufacturer level.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Traffic Lights Market 2017-2021
Technavio recognizes the following companies as the key players in the global traffic lights market: Federal Signal, Econolite, and SWARCO.
Other Prominent Vendors in the market are: Aldridge Traffic Systems, Alphatronics, Arcus Light, D.G. Controls, E2S Warning Signals, Envoys, Horizon Signal Technologies, North America Traffic, Peek Traffic Corporation, Pfannenberg, Trastar, WERMA Signaltechnik, and Ver-Mac.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is accelerated adoption of LED traffic lights. Globally, conventional traffic lights use the incandescent source of light which, are cost efficient. However, these lights consume are not energy efficient and require regular maintenance. Therefore, manufacturers are focusing on the introduction of LED-based lights that are not only energy and cost efficient, but are also extremely durable compared with incandescent lights. LED is a rapidly growing technology in the light industry.”
According to the report, one of the major drivers for this market is improving traffic flow regulations. As roads remain the world's primary mode of transportation, improved traffic flow regulations are being considered for the economic development of countries. The safety of pedestrians and vehicle owners and efficient transportation are major factors impacting the growth of countries. Various road safety measures and solutions for improved traffic flow are studied and the incorporation of traffic lights is one such solution to avoid traffic congestion.
Further, the report states that one of the major factors hindering the growth of this market is issues with co-ordination of signal timings. Signal timing is a crucial factor for the safe and efficient functioning of traffic. Assessing and implementing appropriate signal timing helps improve traffic flow, reduces the waiting time, and saves fuel. To obtain optimum efficiency, traffic signals should be monitored regularly and signal timings should be reset based on traffic patterns, volume, and speed. Regularly optimized traffic light signaling systems benefit the population several ways.
Federal Signal, Econolite, SWARCO, Aldridge Traffic Systems, Alphatronics, Arcus Light, D.G. Controls, E2S Warning Signals, Envoys, Horizon Signal Technologies, North America Traffic, Peek Traffic Corporation, Pfannenberg, Trastar, WERMA Signaltechnik, Ver-Mac.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook