Traffic lights market to grow by USD 601.64 million from 2022 to 2027 | Growth driven by the growth of road transport infrastructure investment - Technavio

NEW YORK, Aug. 29, 2023 /PRNewswire/ -- The traffic lights market is set to grow by USD 601.64 million from 2022 to 2027. However, the growth momentum will progress at a CAGR of 6.05% during the forecast period, according to Technavio. The growth of road transport infrastructure investment drives the growth of the traffic lights market. These investments lead to the expansion and development of new roads and highways. Furthermore, rapid urbanization and population growth in many regions have increased vehicular traffic. Also, investments in road transport infrastructure lead to the adoption of advanced technologies and intelligent traffic light systems are equipped with sensors, and data analytics capabilities can be deployed to optimize traffic management. Hence, such factors boost the growth of the market during the forecast period. The traffic lights market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market.  Alphatronics NV, ARCUS USA Inc., D G Controls Ltd., Econolite Control Products Inc., Envoys Electronic Pvt. Ltd., Federal Signal Corp., GE CURRENT, LITE ON Technology Corp., Mobotrex Inc., North America Traffic, Oriux, SRL Traffic Systems Ltd., SWARCO AG, Traffic Technologies Ltd., and Trastar Inc. are some of the major market participants -. To know about the vendor offerings - Request a sample report

The traffic lights market is fragmented, and the degree of fragmentation will accelerate. Improving traffic flow regulations will offer immense growth opportunities. However, the Issues with coordination of signal timings will hamper the market growth.

Traffic Lights Market 2023-2027: Drivers & Challenges

Issues with the coordination of signal timings challenge the growth of the traffic lights market. .

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Traffic Lights Market 2023-2027: Segment Analysis

• Application 
• Road
• Railway
• Construction
• Product 
• Incandescent
• LED
• Geography 
• North America
• Europe
• APAC
• South America
• Middle East And Africa

Traffic Lights Market 2023-2027: Segmentation Highlights

• The road segment will be significant for global market growth during the forecast period. Generally, traffic lights are used in various road settings, such as urban roads. Also, their usage is important for promoting efficient traffic management, reducing accidents, and enhancing overall transportation safety and convenience. Hence, such factors fuel the segment growth during the forecast period.

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others Buy the Report

Traffic Lights Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist traffic lights market growth during the next five years
• Estimation of the traffic lights market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the traffic lights market across North America, Europe, APAC, South America, and Middle East and Africa
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of traffic lights market vendors

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio