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Intelligent Traffic Signal System Market Share

Report ID: GMI12730
Published Date: Dec 2024
Report Format: PDF

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Intelligent Traffic Signal System Market Share

Intelligent Traffic Signal System Company Market Share, 2024

Siemens and Cubic Corporation collectively held a substantial market share of over 12% in the intelligent traffic signal system industry in 2024. Both the companies hold a significant share in the intelligent traffic signal system market due to their expertise, advanced technology, and comprehensive solutions. Siemens provides a variety of integrated traffic management systems that use AI, adaptive signal control, and cloud-based platforms to help cities improve traffic flow and reduce congestion.

Cubic Corporation offers scalable systems designed to address the complex needs of urban mobility through real-time data analytics and smart transportation solutions. Both companies leverage their extensive industry experience, global presence, and continuous innovation to maintain their leadership in the market.

Swarco AG and Teledyne FLIR are taking strategic actions to strengthen their positions in the Intelligent Traffic Signal System Market. Swarco AG is expanding its range of smart mobility solutions, focusing on adaptive traffic management systems and cloud-based software to improve traffic flow and reduce congestion.

The company is also increasing its involvement in global smart city projects by partnering with local governments to implement advanced traffic management systems. Similarly, Teledyne FLIR is enhancing its market presence by incorporating advanced technologies, such as thermal imaging, modern sensors, and AI-based analytics, into traffic signal systems. These innovations aim to improve safety, traffic monitoring, and real-time decision-making.

Intelligent Traffic Signal System Market Companies

Major players operating in the intelligent traffic signal system industry are:

AECOM
Cubic
Dynniq
Econolite
Intelligent Traffic Systems
Iteris
Kapsch
LG CNS
LITE-ON Technology
Parsons

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of intelligent traffic signal system reached USD 5 billion in 2024 and is set to grow at a 10.2% CAGR from 2025 to 2034, driven by technological advancements improving traffic efficiency and adaptability.

The software segment accounted for approximately 42.5% of the market share in 2024, as it plays a critical role in optimizing traffic systems through real-time data processing and adaptive signal timing.

The North America market captured 35% of the revenue share in 2024, led by advanced infrastructure, significant investments in smart city projects, and high technology adoption.

The key players in the industry include AECOM, Cubic, Dynniq, Econolite, Intelligent Traffic Systems, Iteris, Kapsch, LG CNS, LITE-ON Technology, and Parsons.