Adaptive Traffic Control System Market Worth to Outgrow by USD 13721.3 MN By 2027
Posted On April 29, 2021
According to the research report by Value Market Research, the Global Adaptive Traffic Control System Market is likely to grow to USD 13721.3 MN by 2027 with a CAGR of 18% during the year 2021-2027. The rise in the use of vehicles and the frequent occurrence of traffic congestion in urban road networks are vital stimulating factors for the adaptive traffic control system market. Increased government initiatives to mitigate the effects of traffic congestion as it can have considerable negative impacts on the economy and environment will benefit market growth. The ability to efficiently acquire real-time traffic data using advanced technology, autonomous driving, and mobile internet will positively impact market growth. The use of these systems helps reduce excess fuel consumption, and pollution levels will be a market booster. The exponential rise in the global population and local municipalities seeking novel techniques to minimize traffic and on-road congestion will further improve market reach. The significant challenges faced by this market are the high setup costs.
The adaptive traffic control system is a traffic management procedure where the traffic signal timing changes based on actual traffic demand. This strategy uses a combination of hardware and software to achieve the same. In this system, machine learning algorithms analyze real-time traffic data collected using vehicle detectors to determine signal timings. The duration of red-green phases and green waves are automatically changed by examining the traffic conditions at intersections along the corridors or entire region of deployment. This automatic transition helps improve travel time substantially and reduces congestion by creating smoother flow.
"Global Adaptive Traffic Control System Market Report By Component (Hardware (Infrastructure), Software, Service (Consulting Services, Integration & Implementation, Support & Maintenance), By Application (Urban (Cities), Highways) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" is an elaborate report providing market data on the basis of segments and geography.
On the basis of Component the market is segmented into (Hardware (Infrastructure), Software, Service (Consulting Services, Integration & Implementation, Support & Maintenance). By Application the adaptive traffic control system market is categorised as Urban (Cities), Highways. By geography the report is bifurcated into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Adaptive Traffic Control System is the dominating region. The data tables in this section depict the market estimate by market segment.
The Report Segments Global Adaptive Traffic Control System Market -
- Hardware (Infrastructure)
- Consulting Services
- Integration & Implementation
- Support & Maintenance
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Players Profiled In the Report:
IBM Corporation, Atkins Group (SNC-Lavalin Group Inc., Siemens AG, TransCore Atlantic LLC, Kapsch TrafficCom AG, Aldridge Traffic Controllers Pty Limited, CMS Computers Limited, EFKON India Private Limited, Johnson Controls, Swarco Holding, Cubic Corporation, Analog & Digital Labs, IntelliVision (Nortek Security & Control LLC.), Digicon S/A, Sociedad Ibérica DE Construcciones Eléctricas, S.A, Efftronics Systems Pvt. Ltd., and Onnyx Electronisys Pvt. Ltd.
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