Traffic Lights market report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. The report provides actionable intelligence on major factors influencing the Traffic Lights market (drivers, opportunities, industry specific challenges, and other critical issues) along with the Traffic Lights market size of various segments.
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.
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On the grounds of comprehensive, reliable data derived from extensive research of multiple sources (both primary and secondary) and in-depth market analysis with inputs from industry experts, Traffic Lights market projected to grow at a CAGR of 6.04% during the period 2017-2021.
Traffic Lights Market Drivers, Challenges and Trends: –
Market Driver: – 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.
Market Challenge: – One of the major factors hindering the growth of this market is issues with co-ordination of signal timings. signal timing is a crucial factor for the safe and efficient functioning of traffic. assessing and implementing appropriate signal timing helps improve traffic flow, reduces the waiting time, and saves fuel. to obtain optimum efficiency, traffic signals should be monitored regularly and signal timings should be reset based on traffic patterns, volume, and speed. regularly optimized traffic light signaling systems benefit the population several ways.
Market trend: – 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
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Market segmentation by product type:- Overview, incandescent traffic lights market, LED traffic lights market, Segmentation summary
Geographic Segmentation: – Americas, APAC, EMEA
To calculate the Traffic Lights 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 covers the market landscape and its growth prospects over the coming years. Further it converses about key vendors operating in Traffic Lights market like Federal Signal, Econolite, SWARCO, Aldridge Traffic Systems, Alphatronics and many more.
Some of the Exhibits included in Traffic Lights Market report: –
Exhibit 01: Product offerings
Exhibit 02: Importance of traffic lights
Exhibit 03: Traffic lights: Modes of operation (fixed time vs vehicle actuation)
Exhibit 04: Global traffic lights market 2016-2021 ($ billions)
Exhibit 05: Five forces analysis
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With geographic breakdown of the Traffic Lights market in terms of detailed analysis and impact, this report provides business dimensions with an eye on growth opportunities and contribution of upcoming market segments.