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PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1424949

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PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1424949

Global Traffic Signal Controller Market Size Study & Forecast, by Product Type (Standard Controller, Smart Controller), By Application (Urban, Suburbs), and Regional Analysis, 2023-2030

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Global Traffic Signal Controller Market is valued at approximately USD 4.62 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 15.1% during the forecast period 2023-2030. A traffic signal controller is a crucial component of traffic management systems responsible for regulating the flow of vehicular and pedestrian traffic at intersections. This traffic signal controller is installed within the traffic signal cabinet, a electronic device which coordinates with the operation of traffic signals based on preset timing patterns or real-time data. The Traffic Signal Controller Market is expanding because of factors such as rising investment in the development of smart cities, increased government initiatives for traffic management systems and increased demand for efficient road networks.

Numerous governments are proactively addressing the issue through regulatory measures and the implementation of smart city and traffic management projects. These initiatives aim to integrate intelligent services into urban infrastructure. For instance, in June 2022, the Greater Hyderabad Municipal Corporation (GHMC) successfully deployed Adaptive Traffic Signal Control (ATSC) systems. These systems dynamically assess and validate traffic signal colors in real time, leveraging current traffic data to enhance overall traffic management efficiency. Moreover, Smart city initiatives involve the deployment of advanced technologies, including sophisticated Traffic Signal Controllers, to optimize traffic flow, enhance safety, and reduce congestion. The rising investments in these initiatives contribute to the adoption of innovative traffic signal control systems that integrate real-time data, adaptive algorithms, and communication technologies. The Organization for Economic Co-operation and Development (OECD) projects that investments in smart city initiatives worldwide could amount to around USD 1.8 trillion by year 2030, encompassing a spectrum of metropolitan infrastructure projects. As per Statista, global expenditure on smart city initiatives reached USD 104.3 billion in 2019, surged to USD 158 billion in 2022, and is anticipated to reach USD 189.5 billion by the conclusion of 2023. This upward trend in investment toward the advancement of smart cities worldwide is a key driver for the growth of the market. In addition, the integration of Internet of Things (IoT) technology in traffic signal controllers, and stringent government regulations related to traffic safety are some factors creating new opportunities for market growth. However, the high maintenance and upkeep costs associated with advanced traffic signal controller's stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Traffic Signal Controller Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022. The global market is poised to be led by this region, primarily driven by the concentration of major traffic signal controller manufacturers. Additionally, the increasing adoption of connected Electric Vehicles (EVs) is anticipated to further enhance market growth in the foreseeable future. The well-established infrastructure and the presence of technological giants in the region are key factors contributing to the advancement of the market. Asia Pacific is expected to grow at the fastest over the forecast period. The expansion of this region can be attributed to its substantial population, with China and India collectively representing over 38% of the global population. Anticipated market growth is driven by the increasing preference for connected and autonomous vehicles, coupled with significant urbanization and the ongoing development of smart cities.

Major market player included in this report are:

  • Aldridge Traffic Controllers Pty Ltd.
  • Traffic Technologies Pty Ltd
  • Siemens AG
  • Johnson Controllers
  • Econolite
  • Sumitomo Electric Industries Ltd
  • Dynamic Traffic Systems
  • Sena Traffic Systems Sdn. Bhd.
  • Kyosan Electric Mfg. Co., Ltd.
  • PPK Technology Sdn. Bhd

Recent Developments in the Market:

  • In November 2022, A team of researchers from Chung Ang University in Korea introduced a meta-Reinforcement Learning (RL) model tailored for traffic signal control. Their innovation involves an Extended Deep Q-Network (EDQN) seamlessly integrated into a context-based meta-RL model, offering potential advantages for traffic signal controllers. The model proficiently assesses the traffic regime, distinguishing between saturated and unsaturated conditions by utilizing a latent variable representing the overall environmental state. Leveraging this information, the model optimizes traffic flow by either maximizing throughput or minimizing delays, mirroring the decision-making process of a human controller.
  • In December 2021, Traffic Technologies revealed a significant contract valued at USD 10 million, spanning five years until 2026, with Procurement Australia. Under this agreement, the company would provide safety traffic products as well as directional and instructional signs to local councils throughout Victoria, Australia. This contract not only ensures a consistent revenue stream over the stipulated period and also solidifies the position of the Signage & Safety products business within the market until 2026.

Global Traffic Signal Controller Market Report Scope:

  • Historical Data - 2020 - 2021
  • Base Year for Estimation - 2022
  • Forecast period - 2023-2030
  • Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
  • Segments Covered - Product Type, Application, Region
  • Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:

  • Standard Controller
  • Smart Controller

By Application:

  • Urban
  • Suburbs

By Region:

  • North America
  • U.S.
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • ROE
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • RoAPAC
  • Latin America
  • Brazil
  • Mexico
  • Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of Middle East & Africa

Table of Contents

Chapter 1. Executive Summary

  • 1.1. Market Snapshot
  • 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
    • 1.2.1. Traffic Signal Controller Market, by Region, 2020-2030 (USD Billion)
    • 1.2.2. Traffic Signal Controller Market, by Product Type, 2020-2030 (USD Billion)
    • 1.2.3. Traffic Signal Controller Market, by Application, 2020-2030 (USD Billion)
  • 1.3. Key Trends
  • 1.4. Estimation Methodology
  • 1.5. Research Assumption

Chapter 2. Global Traffic Signal Controller Market Definition and Scope

  • 2.1. Objective of the Study
  • 2.2. Market Definition & Scope
    • 2.2.1. Industry Evolution
    • 2.2.2. Scope of the Study
  • 2.3. Years Considered for the Study
  • 2.4. Currency Conversion Rates

Chapter 3. Global Traffic Signal Controller Market Dynamics

  • 3.1. Traffic Signal Controller Market Impact Analysis (2020-2030)
    • 3.1.1. Market Drivers
      • 3.1.1.1. Rising investment for the development of smart cities
      • 3.1.1.2. Increased government initiatives for traffic management system
      • 3.1.1.3. Increased demand for efficient road networks
    • 3.1.2. Market Challenges
      • 3.1.2.1. High Cost of Traffic Signal Controller
    • 3.1.3. Market Opportunities
      • 3.1.3.1. Integration of Internet of Things (IoT) technology in traffic signal controllers
      • 3.1.3.2. Stringent government regulations related to traffic safety

Chapter 4. Global Traffic Signal Controller Market Industry Analysis

  • 4.1. Porter's 5 Force Model
    • 4.1.1. Bargaining Power of Suppliers
    • 4.1.2. Bargaining Power of Buyers
    • 4.1.3. Threat of New Entrants
    • 4.1.4. Threat of Substitutes
    • 4.1.5. Competitive Rivalry
  • 4.2. Porter's 5 Force Impact Analysis
  • 4.3. PEST Analysis
    • 4.3.1. Political
    • 4.3.2. Economical
    • 4.3.3. Social
    • 4.3.4. Technological
    • 4.3.5. Environmental
    • 4.3.6. Legal
  • 4.4. Top investment opportunity
  • 4.5. Top winning strategies
  • 4.6. COVID-19 Impact Analysis
  • 4.7. Disruptive Trends
  • 4.8. Industry Expert Perspective
  • 4.9. Analyst Recommendation & Conclusion

Chapter 5. Global Traffic Signal Controller Market, by Product Type

  • 5.1. Market Snapshot
  • 5.2. Global Traffic Signal Controller Market by Product Type, Performance - Potential Analysis
  • 5.3. Global Traffic Signal Controller Market Estimates & Forecasts by Product Type 2020-2030 (USD Billion)
  • 5.4. Traffic Signal Controller Market, Sub Segment Analysis
    • 5.4.1. Standard Controller
    • 5.4.2. Smart Controller

Chapter 6. Global Traffic Signal Controller Market, by Application

  • 6.1. Market Snapshot
  • 6.2. Global Traffic Signal Controller Market by Application, Performance - Potential Analysis
  • 6.3. Global Traffic Signal Controller Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
  • 6.4. Traffic Signal Controller Market, Sub Segment Analysis
    • 6.4.1. Urban
    • 6.4.2. Suburbs

Chapter 7. Global Traffic Signal Controller Market, Regional Analysis

  • 7.1. Top Leading Countries
  • 7.2. Top Emerging Countries
  • 7.3. Traffic Signal Controller Market, Regional Market Snapshot
  • 7.4. North America Traffic Signal Controller Market
    • 7.4.1. U.S. Traffic Signal Controller Market
      • 7.4.1.1. Product Type breakdown estimates & forecasts, 2020-2030
      • 7.4.1.2. Application breakdown estimates & forecasts, 2020-2030
    • 7.4.2. Canada Traffic Signal Controller Market
  • 7.5. Europe Traffic Signal Controller Market Snapshot
    • 7.5.1. U.K. Traffic Signal Controller Market
    • 7.5.2. Germany Traffic Signal Controller Market
    • 7.5.3. France Traffic Signal Controller Market
    • 7.5.4. Spain Traffic Signal Controller Market
    • 7.5.5. Italy Traffic Signal Controller Market
    • 7.5.6. Rest of Europe Traffic Signal Controller Market
  • 7.6. Asia-Pacific Traffic Signal Controller Market Snapshot
    • 7.6.1. China Traffic Signal Controller Market
    • 7.6.2. India Traffic Signal Controller Market
    • 7.6.3. Japan Traffic Signal Controller Market
    • 7.6.4. Australia Traffic Signal Controller Market
    • 7.6.5. South Korea Traffic Signal Controller Market
    • 7.6.6. Rest of Asia Pacific Traffic Signal Controller Market
  • 7.7. Latin America Traffic Signal Controller Market Snapshot
    • 7.7.1. Brazil Traffic Signal Controller Market
    • 7.7.2. Mexico Traffic Signal Controller Market
  • 7.8. Middle East & Africa Traffic Signal Controller Market
    • 7.8.1. Saudi Arabia Traffic Signal Controller Market
    • 7.8.2. South Africa Traffic Signal Controller Market
    • 7.8.3. Rest of Middle East & Africa Traffic Signal Controller Market

Chapter 8. Competitive Intelligence

  • 8.1. Key Company SWOT Analysis
    • 8.1.1. Company 1
    • 8.1.2. Company 2
    • 8.1.3. Company 3
  • 8.2. Top Market Strategies
  • 8.3. Company Profiles
    • 8.3.1. Aldridge Traffic Controllers Pyt Ltd.
      • 8.3.1.1. Key Information
      • 8.3.1.2. Overview
      • 8.3.1.3. Financial (Subject to Data Availability)
      • 8.3.1.4. Product Summary
      • 8.3.1.5. Recent Developments
    • 8.3.2. Traffic Technologies Pty Ltd
    • 8.3.3. Siemens AG
    • 8.3.4. Johnson Controllers
    • 8.3.5. Econolite
    • 8.3.6. Sumitomo Electric Industries Ltd
    • 8.3.7. Dynamic Traffic Systems
    • 8.3.8. Sena Traffic Systems Sdn Bhd.
    • 8.3.9. Kyosan Electric Mfg. Co., Ltd.
    • 8.3.10. PPK Technology Sdn. Bhd

Chapter 9. Research Process

  • 9.1. Research Process
    • 9.1.1. Data Mining
    • 9.1.2. Analysis
    • 9.1.3. Market Estimation
    • 9.1.4. Validation
    • 9.1.5. Publishing
  • 9.2. Research Attributes
  • 9.3. Research Assumption

LIST OF TABLES

  • TABLE 1. Global Traffic Signal Controller Market, report scope
  • TABLE 2. Global Traffic Signal Controller Market estimates & forecasts by Region 2020-2030 (USD Billion)
  • TABLE 3. Global Traffic Signal Controller Market estimates & forecasts by Product Type 2020-2030 (USD Billion)
  • TABLE 4. Global Traffic Signal Controller Market estimates & forecasts by Application 2020-2030 (USD Billion)
  • TABLE 5. Global Traffic Signal Controller Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 6. Global Traffic Signal Controller Market by region, estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 7. Global Traffic Signal Controller Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 8. Global Traffic Signal Controller Market by region, estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 9. Global Traffic Signal Controller Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 10. Global Traffic Signal Controller Market by region, estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 11. Global Traffic Signal Controller Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 12. Global Traffic Signal Controller Market by region, estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 13. Global Traffic Signal Controller Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 14. Global Traffic Signal Controller Market by region, estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 15. U.S. Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 16. U.S. Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 17. U.S. Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 18. Canada Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 19. Canada Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 20. Canada Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 21. UK Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 22. UK Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 23. UK Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 24. Germany Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 25. Germany Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 26. Germany Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 27. France Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 28. France Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 29. France Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 30. Italy Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 31. Italy Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 32. Italy Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 33. Spain Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 34. Spain Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 35. Spain Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 36. RoE Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 37. RoE Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 38. RoE Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 39. China Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 40. China Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 41. China Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 42. India Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 43. India Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 44. India Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 45. Japan Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 46. Japan Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 47. Japan Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 48. South Korea Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 49. South Korea Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 50. South Korea Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 51. Australia Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 52. Australia Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 53. Australia Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 54. RoAPAC Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 55. RoAPAC Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 56. RoAPAC Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 57. Brazil Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 58. Brazil Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 59. Brazil Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 60. Mexico Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 61. Mexico Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 62. Mexico Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 63. RoLA Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 64. RoLA Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 65. RoLA Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 66. Saudi Arabia Traffic Signal Controller Market estimates & forecasts, 2020-2030 (USD Billion)
  • TABLE 67. South Africa Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 68. RoMEA Traffic Signal Controller Market estimates & forecasts by segment 2020-2030 (USD Billion)
  • TABLE 69. List of secondary sources, used in the study of global Traffic Signal Controller Market
  • TABLE 70. List of primary sources, used in the study of global Traffic Signal Controller Market
  • TABLE 71. Years considered for the study
  • TABLE 72. Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

  • FIG 1. Global Traffic Signal Controller Market, research methodology
  • FIG 2. Global Traffic Signal Controller Market, Market estimation techniques
  • FIG 3. Global Market size estimates & forecast methods
  • FIG 4. Global Traffic Signal Controller Market, key trends 2022
  • FIG 5. Global Traffic Signal Controller Market, growth prospects 2023-2030
  • FIG 6. Global Traffic Signal Controller Market, porters 5 force model
  • FIG 7. Global Traffic Signal Controller Market, pest analysis
  • FIG 8. Global Traffic Signal Controller Market, value chain analysis
  • FIG 9. Global Traffic Signal Controller Market by segment, 2020 & 2030 (USD Billion)
  • FIG 10. Global Traffic Signal Controller Market by segment, 2020 & 2030 (USD Billion)
  • FIG 11. Global Traffic Signal Controller Market by segment, 2020 & 2030 (USD Billion)
  • FIG 12. Global Traffic Signal Controller Market by segment, 2020 & 2030 (USD Billion)
  • FIG 13. Global Traffic Signal Controller Market by segment, 2020 & 2030 (USD Billion)
  • FIG 14. Global Traffic Signal Controller Market, regional snapshot 2020 & 2030
  • FIG 15. North America Traffic Signal Controller Market 2020 & 2030 (USD Billion)
  • FIG 16. Europe Traffic Signal Controller Market 2020 & 2030 (USD Billion)
  • FIG 17. Asia pacific Traffic Signal Controller Market 2020 & 2030 (USD Billion)
  • FIG 18. Latin America Traffic Signal Controller Market 2020 & 2030 (USD Billion)
  • FIG 19. Middle East & Africa Traffic Signal Controller Market 2020 & 2030 (USD Billion)

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

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