The global demand for Traffic Signals Market is presumed to reach the valuation of nearly USD XX MN by 2027 from USD XX MN in 2020 with a CAGR of XX% under the study period of 2021 - 2027.
Traffic lights or stoplights or traffic signals are signaling devices for directing vehicular traffic situated at the road crossing, intersection, or other locations to control traffic flow. Traffic light consists of three universal colors green, red, and yellow. These lights change their colors in the same order every time. Traffic lights are placed along, above, or beside the roadway to guide, warn, and regulate traffic flow, including motor vehicles, pedestrians, motorcycles, bicycles, and other road users.
The global traffic signals market is projected to grow with increasing road traffic accidents, improving traffic flow regulations, and road transport infrastructure investment. As per World Health Organization estimates, road accidents result in the deaths of approximately 1.35 million people globally each year and leave between 20 and 50 million people with non-fatal injuries. There has been a constant increase in the number of vehicles coming on the road, putting a burden on traffic. All these are projected to reflect traffic light sales during the forecast period. However, issues with the co-ordination of signal timings, the negative impact of weather, and improper placement of traffic lights may hamper the market growth.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each segment in the global market of traffic signals.
This section of the traffic signals market report provides detailed data on the segments by analyzing them geographically, thereby assisting the strategist in identifying the target demographics for the respective product or service.
- Incandescent Lights
- LED Lights
- Street Lights
- Junction Signals
- Zebra Crossing
This section covers regional segmentation which accentuates on current and future demand for Traffic Signals market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Traffic Signals Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the traffic signals market include ARCUS USA Inc., European Safety Systems Ltd., Federal Signal Corp., General Electric Co., LITE-ON Technology Corp., North America Traffic, Peek Traffic Corp., SWARCO AG, Traffic Technologies Ltd., and Trastar Inc. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.