Information Technology

Global Traffic Signals Market Size, Drivers, Trends, Opportunities And Strategies – Includes Traffic Signals Market Share

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032


Installing new traffic signals for increasing traffic speed and reducing accidents are expected to drive innovation in traffic signals manufacturing, thus driving the market during the forecast period.


The global traffic signals market is expected to grow from $26.21 billion in 2022 to $28.41 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The global traffic signals market size is expected to grow to $38.1 billion in 2027 at a CAGR of 7.6%.


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Global Traffic Signals Market Segments Include:

  • By Type Of Power: Electric Power, Solar Energy
  • By Product Type: Portable, Stationary
  • By End Use: Railway, Airport, UrbanTraffic, Other End-Uses
  • By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global traffic signals market in 2021.


Major Market Players in the traffic signals market include SWARCO AG, Envoys, Aldridge Traffic Systems, Federal Signal, DG Controls, Econolite Group, Horizon Signal Technologies, Arcus Light, General Electric.


Artificial intelligence is seen as an emerging trend in the traffic signals market. Traffic signals with artificial intelligence can reduce traffic congestion. Artificial intelligence (AI) refers to human intelligence simulation in machines that are programmed and capable of performing tasks that normally requires human intelligence such as visual perception, speech recognition, decision making, and language translation. For instance, in June 2022, Greater Hyderabad Muncipal Corporation (GHMC), has deployed new Adaptive Traffic Signal Control (ATSC) systems that alter the color of traffic signals based on real-time traffic information. The ATSC system reduces delays by combining local and network-level optimization to optimize traffic flow along the city’s principal corridors. Composite Signal Control Strategy (CoSiCoSt), a new adaptive control technique, is created by the Centre for Development of Advanced Computing (C-DAC). To handle area-wide, real-time traffic, the CoSiCoSt modifies the cycle time, green splits, and offsets in conjunction with surrounding intersections.


The Traffic Signals Global Market Report 2023  provides a traffic signals market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The traffic signals market forecast analyzes traffic signals market size, traffic signals market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.


Traffic signals are devices installed alongside, beside, or above a roadway to direct, warn, and regulate the flow of traffic, including motor vehicles, motorcycles, bicycles, pedestrians, and other road users.


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