The global traffic lights market to grow at a CAGR of 6.04% during the period 2017-2021.
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 report also includes a discussion of the key vendors operating in this market.
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.
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.
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.
- Federal Signal
Other prominent vendors
- Aldridge Traffic Systems
- Arcus Light
- D.G. Controls
- E2S Warning Signals
- Horizon Signal Technologies
- North America Traffic
- Peek Traffic Corporation
- WERMA Signaltechnik
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by product type
Part 07: Geographical segmentation
Part 08: Market drivers
Part 09: Impact of drivers
Part 10: Market challenges
Part 11: Impact of drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Key vendor analysis
Part 15: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/wqjwgn/global_traffic
Laura Wood, Senior Manager
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-traffic-lights-market-2017-2021-market-growth-at-cagr-of-604---gaining-momentum-in-the-market-is-accelerated-adoption-of-led-traffic-lights---research-and-markets-300399443.html
SOURCE Research and Markets