Intelligent traffic signals are part of the integrated traffic management system and are used to effectively control traffic from a centralized location.These systems are equipped with embedded sensors that can be used to analyze peak traffic throughout the day.Intelligent signaling systems can eventually be automated by using AI to proactively redirect traffic on high-throughput routes, thereby reducing traffic congestion, pollution, travel time, and associated costs.Intelligent traffic signals and sensors can control the flow of traffic between cities based on specific levels of demand.Through this implementation, congestion can be reduced by smoothing traffic flow and prioritizing traffic on demand in real time and reducing pollution throughout the city.In addition, intelligent signals simultaneously collect event-based high-resolution traffic data from multiple intersections and create real-time signal performance measurements, including arterial travel time, stop times, queue length, intersections delay and service levels.The system helps eliminate stop-start driving, which is inefficient and polluting.
This report contains market size and forecasts of Smart Signaling in Global, including the following market information:
Global Smart Signaling Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Smart Signaling market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Hardware Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Smart Signaling include Trafficware, Siemens AG, Rapid Flow Technologies, Wabtec Corporation, Jenoptik, Econolite, Onnyx Electronisys, Miovision and Global Traffic Technologies, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Smart Signaling companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Smart Signaling Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Smart Signaling Market Segment Percentages, by Type, 2021 (%)
Hardware
Software
Service
Global Smart Signaling Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Smart Signaling Market Segment Percentages, by Application, 2021 (%)
Urban Traffic
Public Transport
Freeway
Others
Global Smart Signaling Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Smart Signaling Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Smart Signaling revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Smart Signaling revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
Trafficware
Siemens AG
Rapid Flow Technologies
Wabtec Corporation
Jenoptik
Econolite
Onnyx Electronisys
Miovision
Global Traffic Technologies
Reno A＆E
General Electric