Traffic Signal Controller Market by Types, Applications, Top Manufacturers and Forecast by 2025johndsouzaind | April 15, 2019 | 0 | Machinery and Equipments
Global Traffic Signal Controller Market
Global Traffic Signal Controller Market valued approximately USD $$ billion in 2017 is anticipated to grow with a healthy growth rate of more than –% over the forecast period 2018-2025. The Traffic Signal Controller Market is continuously growing in the global scenario at a 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 a number of both the passenger and commercial vehicles are the substantial driving factors of the market during the forecast period. Moreover, the emergence of IoT and sensor technologies in traffic management is the major factor likely to creating a lucrative opportunity in the near future. Additionally, traffic signal controllers offer several benefits such as provide orderly movement traffic, provide authority to the driver to drive vehicle with confidence, help in reducing the frequency of an accident and so on. With these benefits, the demand for traffic signal controller is increasing across the globe. However, the limited availability of technological infrastructure and low penetration of DSRC protocol are the factor that limiting the market growth of Traffic Signal Controller during the forecast period.
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The regional analysis of Global Traffic Signal Controller Market 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 market share due to the rising number of vehicles among people and the presence of well-established technological infrastructure in the region. Europe is estimated to grow at a stable growth rate in the global Traffic Signal Controller market over the upcoming years. Asia-Pacific is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 owing to rising urbanization and emerging smart cities across the region.
The major market player included in this report are:
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 eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available 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:
Fixed Time Controller
Small and Simple Intersections
Large and Complex Intersections
Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Traffic Signal Controller Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers VARs
Third-party knowledge providers
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Name: Jennifer Daniel
Organization: Planet Market Reports