Global Traffic Signal Controller Industry valued approximately USD XX billion in 2017 is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2019-2025. The Traffic Signal Controller Industry is continuously growing in the global scenario at significant pace. The normal function of traffic lights requires more than slight control and coordination to ensure that traffic and pedestrians move as smoothly, and safely as possible. A variety of different control systems are used to accomplish this, ranging from simple clockwork mechanisms to sophisticated computerized control and coordination systems that self-adjust to minimize delay to people using the road. Rising concerns related to road safety, surging urbanization in both the developed & developing countries and enhancing number of both the passenger and commercial vehicles are the substantial driving factors of the Industry during the forecast period. Moreover, emergence of IoT and sensor technologies in traffic management is the major factor that likely to creating lucrative opportunity in the near future. Additionally, traffic signal controllers offers several benefits such as provide orderly movement traffic, provide authority to driver to drive vehicle with confidence, help in reducing the frequency of an accident and so on. With these benefits demand of traffic signal controller is increasing across the globe. However, limited availability of technological infrastructure and low penetration of DSRC protocol are the factor that limiting the Industry growth of Traffic Signal Controller during the forecast period.
The regional analysis of Global Traffic Signal Controller Industry is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of Industry share due to rising number of vehicles among people and presence of well-established technological infrastructure in the region. Europe is estimated to grow at stable growth rate in the global Traffic Signal Controller Industry over the upcoming years. Asia-Pacific is anticipated to exhibit higher growth rate / CAGR over the forecast period 2019-2025 owing to rising urbanization and emerging smart cities across the region.
Traffic Signal Controller Industry Share and Size by 2019-2025
Traffic Signal Controller Market Segmentation:
* Fixed Time Controller
* Coordinated Control
* Adaptive Control
* Small and Simple Intersections
* Large and Complex Intersections
* North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
Major Market Players in Traffic Signal Controller Market are as follows: