Traffic Signal Controller Market Forecasts to 2028 - Global Analysis By Product Type, Application and By Geography

Description

List of Tables

According to Stratistics MRC, the Global Traffic Signal Controller Market is accounted for $4.62 billion in 2022 and is expected to reach $11.43 billion by 2028 growing at a CAGR of 16.2% during the forecast period. To regulate the sequence and timing of traffic lights, a traffic signal controller is an automated system that monitors and alters the demands of automobiles and pedestrians. Traffic flow at adjoining intersections can be synchronised when utilised in combination with a coordinated adaptive traffic signal controller. With advanced surveillance tools, the traffic signal controller has enabled traffic low regulation efficiently on the existing road infrastructure. It has condensed unnecessary jamming of roads due to cross movements of vehicles resulting in smooth flow of traffic and minimizing accidents.

According to the World Health Organization, nearly 1.25 million deaths occur due to road accidents, annually. The efforts of various governments to reduce fatalities from road accidents have led to increased safety standards in new vehicles.

Market Dynamics:

Driver:

Increasing urbanization

Growing urbanization results in amplified expenditure ability of the population which in turn surges the sale of automobiles. Nonetheless, it also leads in obstacles, includes fast-tracked demand for well-linked transport systems, and other infrastructure. Mounting urban population requires operative commute necessities for smooth transportation of humans and goods. Hence, these are the factors driving the growth of the market.

Restraint:

Lack of standardized and uniform technologies

The presence of multiple companies without the following standardization creates a challenge for users to implement the system. If an existing system is working, incorporating a new system from a different company is a challenge as both systems do not need to be able to work in coordination. The legacy systems may also lack advancements and work on older analog or purely electric systems for traffic control. Consequently, these factors are the restraining the market growth.

Opportunity:

Increased demand for efficient road networks

Developed economies are now focusing on an environment friendly commute that is giving rise to technologies such as electric vehicles, connected vehicles, and autonomous vehicles. These vehicles function by meeting data from their surroundings, exchanging it with other vehicles, connecting to the smart transportation authorities access. The surge in demand for connectivity solutions, encouraging development and promotion of green fuel are responsible for the growing demand for traffic signal controllers across the world.

Threat:

High cost associated with equipment installation

Huge initial investments are required for setting up traffic management system that includes installing multiple hardware components. These systems have a high equipment cost, and their accuracy depends on environmental conditions. Also, the operational and maintenance expenses regularly add to the overall cost. The installation and maintenance are undertaken by skilled labour who charges for their expertise. Thus, this factor is hindering the market growth.

COVID-19 Impact

The global outbreak of the COVID-19 pandemic has had an adverse influence on sales of the traffic signal controller, whose sales have been impacted unfavourably owing to the downfall in the global economy bionetworks. This pandemic has instigated enormous hesitation in the industry and a fright situation for all industrial value chain players involved.

The standard controller segment is expected to be the largest during the forecast period

The standard controller segment is estimated to have a lucrative growth, due to increasing demand for connected and autonomous vehicles. It works on fixed timing settings in the microcontroller. Rising traffic congestion and road accidents due to growing transportation in regions and areas with less density boost the market growth.

The urban segment is expected to have the highest CAGR during the forecast period

The urban segment is anticipated to witness the fastest CAGR growth during the forecast period, due to traffic density in metropolitan locations is higher than in other applications, it is optimal for the sale of the product to increase during the assessment time. Because of the mix of smaller and larger junctions, sales are anticipated to be high. So, this major factor will drive the growth of urban segment in the global traffic signal controller during the forecast period.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to increase in the number of automobiles owned by individuals. The existence of well-established infrastructure and technical titans is also credited with the market's growth. Additionally, strict government intervention and increased support for artificial intelligence and automation will drive overall growth of the market.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the growing automobile adoption and urbanization. Due to the high population density and the emergence of smart cities in this region are estimated to drive the market for traffic signal controllers. Therefore, these factors are expected to drive the region growth.

Key players in the market

Some of the key players profiled in the Traffic Signal Controller Market include Tyco, Econolite, Hikvision, Hisense TransTech, DINGPENGTRAFFIC, JARIEC, Greenwave, ATC, FAmA, Siemens, ShanghaiDongchuanITS, DUOLUNTECHNOLOGY, QTC (Traffic Technologies Ltd), SWARCOAG, KYOSAN, SumitomoElectric, Johnson Controls.

Key Developments:

In Jan 2021, SWARCO AG has been awarded three EU-funded traffic control projects in Romania. Development of traffic lights, traffic controllers, variable message signs, video cameras, traffic detectors, and other devices have all been part of the multimillion-euro initiative.

In September 2020, Siemens AG and Atos, who are global leader in digital transformation stated the expansion of their tactical collaboration deal, which was commenced in 2011. The contract focuses on fast-tracking Siemens' digital purposes in the areas of services modernization and digitalization.

Product Types Covered:

Adaptive Controller
Smart Controllers
Coordinated Controller
Standard Controllers
Fixed Time Controller
Other Product Types

Applications Covered:

Small and Simple Intersections
Large and Complex Intersections
Urban
Suburbs
Other Applications

Regions Covered:

North America
- US
- Canada
- Mexico
Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
South America
- Argentina
- Brazil
- Chile
- Rest of South America
Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa

What our report offers:

Market share assessments for the regional and country-level segments
Strategic recommendations for the new entrants
Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
Strategic recommendations in key business segments based on the market estimations
Competitive landscaping mapping the key common trends
Company profiling with detailed strategies, financials, and recent developments
Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Product Code: SMRC22147

1 Executive Summary

2 Preface

2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions

3 Market Trend Analysis

3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis

4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Traffic Signal Controller Market, By Product Type

5.1 Introduction
5.2 Adaptive Controller
5.3 Smart Controllers
5.4 Coordinated Controller
5.5 Standard Controllers
5.6 Fixed Time Controller
5.7 Other Product Types

6 Global Traffic Signal Controller Market, By Application

6.1 Introduction
6.2 Small and Simple Intersections
6.3 Large and Complex Intersections
6.4 Urban
6.5 Suburbs
6.6 Other Applications

7 Global Traffic Signal Controller Market, By Geography

7.1 Introduction
7.2 North America
- 7.2.1 US
- 7.2.2 Canada
- 7.2.3 Mexico
7.3 Europe
- 7.3.1 Germany
- 7.3.2 UK
- 7.3.3 Italy
- 7.3.4 France
- 7.3.5 Spain
- 7.3.6 Rest of Europe
7.4 Asia Pacific
- 7.4.1 Japan
- 7.4.2 China
- 7.4.3 India
- 7.4.4 Australia
- 7.4.5 New Zealand
- 7.4.6 South Korea
- 7.4.7 Rest of Asia Pacific
7.5 South America
- 7.5.1 Argentina
- 7.5.2 Brazil
- 7.5.3 Chile
- 7.5.4 Rest of South America
7.6 Middle East & Africa
- 7.6.1 Saudi Arabia
- 7.6.2 UAE
- 7.6.3 Qatar
- 7.6.4 South Africa
- 7.6.5 Rest of Middle East & Africa

8 Key Developments

8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies

9 Company Profiling

9.1 Tyco
9.2 Econolite
9.3 Hikvision
9.4 Hisense TransTech
9.5 DINGPENGTRAFFIC
9.6 JARIEC
9.7 Greenwave
9.8 ATC
9.9 FAmA
9.10 ShanghaiDongchuanITS
9.11 DUOLUNTECHNOLOGY
9.12 QTC (Traffic Technologies Ltd)
9.13 SWARCOAG
9.14 KYOSAN
9.15 SumitomoElectric
9.16 Johnson Controls

Product Code: SMRC22147

List of Tables

Table 1 Global Traffic Signal Controller Market Outlook, By Region (2020-2028) ($MN)
Table 2 Global Traffic Signal Controller Market Outlook, By Product Type (2020-2028) ($MN)
Table 3 Global Traffic Signal Controller Market Outlook, By Adaptive Controller (2020-2028) ($MN)
Table 4 Global Traffic Signal Controller Market Outlook, By Smart Controllers (2020-2028) ($MN)
Table 5 Global Traffic Signal Controller Market Outlook, By Coordinated Controller (2020-2028) ($MN)
Table 6 Global Traffic Signal Controller Market Outlook, By Standard Controllers (2020-2028) ($MN)
Table 7 Global Traffic Signal Controller Market Outlook, By Fixed Time Controller (2020-2028) ($MN)
Table 8 Global Traffic Signal Controller Market Outlook, By Other Product Types (2020-2028) ($MN)
Table 9 Global Traffic Signal Controller Market Outlook, By Application (2020-2028) ($MN)
Table 10 Global Traffic Signal Controller Market Outlook, By Small and Simple Intersections (2020-2028) ($MN)
Table 11 Global Traffic Signal Controller Market Outlook, By Large and Complex Intersections (2020-2028) ($MN)
Table 12 Global Traffic Signal Controller Market Outlook, By Urban (2020-2028) ($MN)
Table 13 Global Traffic Signal Controller Market Outlook, By Suburbs (2020-2028) ($MN)
Table 14 Global Traffic Signal Controller Market Outlook, By Other Applications (2020-2028) ($MN)
Table 15 North America Traffic Signal Controller Market Outlook, By Country (2020-2028) ($MN)
Table 16 North America Traffic Signal Controller Market Outlook, By Product Type (2020-2028) ($MN)
Table 17 North America Traffic Signal Controller Market Outlook, By Adaptive Controller (2020-2028) ($MN)
Table 18 North America Traffic Signal Controller Market Outlook, By Smart Controllers (2020-2028) ($MN)
Table 19 North America Traffic Signal Controller Market Outlook, By Coordinated Controller (2020-2028) ($MN)
Table 20 North America Traffic Signal Controller Market Outlook, By Standard Controllers (2020-2028) ($MN)
Table 21 North America Traffic Signal Controller Market Outlook, By Fixed Time Controller (2020-2028) ($MN)
Table 22 North America Traffic Signal Controller Market Outlook, By Other Product Types (2020-2028) ($MN)
Table 23 North America Traffic Signal Controller Market Outlook, By Application (2020-2028) ($MN)
Table 24 North America Traffic Signal Controller Market Outlook, By Small and Simple Intersections (2020-2028) ($MN)
Table 25 North America Traffic Signal Controller Market Outlook, By Large and Complex Intersections (2020-2028) ($MN)
Table 26 North America Traffic Signal Controller Market Outlook, By Urban (2020-2028) ($MN)
Table 27 North America Traffic Signal Controller Market Outlook, By Suburbs (2020-2028) ($MN)
Table 28 North America Traffic Signal Controller Market Outlook, By Other Applications (2020-2028) ($MN)
Table 29 Europe Traffic Signal Controller Market Outlook, By Country (2020-2028) ($MN)
Table 30 Europe Traffic Signal Controller Market Outlook, By Product Type (2020-2028) ($MN)
Table 31 Europe Traffic Signal Controller Market Outlook, By Adaptive Controller (2020-2028) ($MN)
Table 32 Europe Traffic Signal Controller Market Outlook, By Smart Controllers (2020-2028) ($MN)
Table 33 Europe Traffic Signal Controller Market Outlook, By Coordinated Controller (2020-2028) ($MN)
Table 34 Europe Traffic Signal Controller Market Outlook, By Standard Controllers (2020-2028) ($MN)
Table 35 Europe Traffic Signal Controller Market Outlook, By Fixed Time Controller (2020-2028) ($MN)
Table 36 Europe Traffic Signal Controller Market Outlook, By Other Product Types (2020-2028) ($MN)
Table 37 Europe Traffic Signal Controller Market Outlook, By Application (2020-2028) ($MN)
Table 38 Europe Traffic Signal Controller Market Outlook, By Small and Simple Intersections (2020-2028) ($MN)
Table 39 Europe Traffic Signal Controller Market Outlook, By Large and Complex Intersections (2020-2028) ($MN)
Table 40 Europe Traffic Signal Controller Market Outlook, By Urban (2020-2028) ($MN)
Table 41 Europe Traffic Signal Controller Market Outlook, By Suburbs (2020-2028) ($MN)
Table 42 Europe Traffic Signal Controller Market Outlook, By Other Applications (2020-2028) ($MN)
Table 43 Asia Pacific Traffic Signal Controller Market Outlook, By Country (2020-2028) ($MN)
Table 44 Asia Pacific Traffic Signal Controller Market Outlook, By Product Type (2020-2028) ($MN)
Table 45 Asia Pacific Traffic Signal Controller Market Outlook, By Adaptive Controller (2020-2028) ($MN)
Table 46 Asia Pacific Traffic Signal Controller Market Outlook, By Smart Controllers (2020-2028) ($MN)
Table 47 Asia Pacific Traffic Signal Controller Market Outlook, By Coordinated Controller (2020-2028) ($MN)
Table 48 Asia Pacific Traffic Signal Controller Market Outlook, By Standard Controllers (2020-2028) ($MN)
Table 49 Asia Pacific Traffic Signal Controller Market Outlook, By Fixed Time Controller (2020-2028) ($MN)
Table 50 Asia Pacific Traffic Signal Controller Market Outlook, By Other Product Types (2020-2028) ($MN)
Table 51 Asia Pacific Traffic Signal Controller Market Outlook, By Application (2020-2028) ($MN)
Table 52 Asia Pacific Traffic Signal Controller Market Outlook, By Small and Simple Intersections (2020-2028) ($MN)
Table 53 Asia Pacific Traffic Signal Controller Market Outlook, By Large and Complex Intersections (2020-2028) ($MN)
Table 54 Asia Pacific Traffic Signal Controller Market Outlook, By Urban (2020-2028) ($MN)
Table 55 Asia Pacific Traffic Signal Controller Market Outlook, By Suburbs (2020-2028) ($MN)
Table 56 Asia Pacific Traffic Signal Controller Market Outlook, By Other Applications (2020-2028) ($MN)
Table 57 South America Traffic Signal Controller Market Outlook, By Country (2020-2028) ($MN)
Table 58 South America Traffic Signal Controller Market Outlook, By Product Type (2020-2028) ($MN)
Table 59 South America Traffic Signal Controller Market Outlook, By Adaptive Controller (2020-2028) ($MN)
Table 60 South America Traffic Signal Controller Market Outlook, By Smart Controllers (2020-2028) ($MN)
Table 61 South America Traffic Signal Controller Market Outlook, By Coordinated Controller (2020-2028) ($MN)
Table 62 South America Traffic Signal Controller Market Outlook, By Standard Controllers (2020-2028) ($MN)
Table 63 South America Traffic Signal Controller Market Outlook, By Fixed Time Controller (2020-2028) ($MN)
Table 64 South America Traffic Signal Controller Market Outlook, By Other Product Types (2020-2028) ($MN)
Table 65 South America Traffic Signal Controller Market Outlook, By Application (2020-2028) ($MN)
Table 66 South America Traffic Signal Controller Market Outlook, By Small and Simple Intersections (2020-2028) ($MN)
Table 67 South America Traffic Signal Controller Market Outlook, By Large and Complex Intersections (2020-2028) ($MN)
Table 68 South America Traffic Signal Controller Market Outlook, By Urban (2020-2028) ($MN)
Table 69 South America Traffic Signal Controller Market Outlook, By Suburbs (2020-2028) ($MN)
Table 70 South America Traffic Signal Controller Market Outlook, By Other Applications (2020-2028) ($MN)
Table 71 Middle East & Africa Traffic Signal Controller Market Outlook, By Country (2020-2028) ($MN)
Table 72 Middle East & Africa Traffic Signal Controller Market Outlook, By Product Type (2020-2028) ($MN)
Table 73 Middle East & Africa Traffic Signal Controller Market Outlook, By Adaptive Controller (2020-2028) ($MN)
Table 74 Middle East & Africa Traffic Signal Controller Market Outlook, By Smart Controllers (2020-2028) ($MN)
Table 75 Middle East & Africa Traffic Signal Controller Market Outlook, By Coordinated Controller (2020-2028) ($MN)
Table 76 Middle East & Africa Traffic Signal Controller Market Outlook, By Standard Controllers (2020-2028) ($MN)
Table 77 Middle East & Africa Traffic Signal Controller Market Outlook, By Fixed Time Controller (2020-2028) ($MN)
Table 78 Middle East & Africa Traffic Signal Controller Market Outlook, By Other Product Types (2020-2028) ($MN)
Table 79 Middle East & Africa Traffic Signal Controller Market Outlook, By Application (2020-2028) ($MN)
Table 80 Middle East & Africa Traffic Signal Controller Market Outlook, By Small and Simple Intersections (2020-2028) ($MN)
Table 81 Middle East & Africa Traffic Signal Controller Market Outlook, By Large and Complex Intersections (2020-2028) ($MN)
Table 82 Middle East & Africa Traffic Signal Controller Market Outlook, By Urban (2020-2028) ($MN)
Table 83 Middle East & Africa Traffic Signal Controller Market Outlook, By Suburbs (2020-2028) ($MN)
Table 84 Middle East & Africa Traffic Signal Controller Market Outlook, By Other Applications (2020-2028) ($MN)

Traffic Signal Controller Market Forecasts to 2028 - Global Analysis By Product Type, Application and By Geography

Description

Table of Contents

List of Tables

Table of Contents

1 Executive Summary

2 Preface

3 Market Trend Analysis

4 Porters Five Force Analysis

5 Global Traffic Signal Controller Market, By Product Type

6 Global Traffic Signal Controller Market, By Application

7 Global Traffic Signal Controller Market, By Geography

8 Key Developments

9 Company Profiling

List of Tables