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Traffic Signal Controller Market Trends

  • Report ID: GMI8948
  • Published Date: Apr 2024
  • Report Format: PDF

Traffic Signal Controller Market Trends

The traffic signal controller industry has witnessed significant technological advancements. Improvements in areas, such as Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT), are leading to the creation of traffic controllers with new features. This improves traffic flow and reduces congestion. Along with this, connected vehicle technology allows vehicles to communicate with traffic controllers and infrastructure, providing valuable data on travel times and congestion points.
 

Traffic controllers can then use this data to further optimize traffic flow. Advancements in communication protocols enable traffic controllers to communicate easily with a variety of sensors, cameras, and other traffic management equipment. This enables real-time data interchange and a more integrated approach to traffic management.
 

For instance, in October 2023, Kimley-Horn launched Traction Priority, a cloud-based traffic signal software that uses AI to provide Traffic Signal Priority (TSP), Freight Signal Priority (FSP), and Emergency Vehicle Preemption (EVP) applications in one software system. Traction Priority responds to real-time GPS feeds from existing equipment on buses, trucks, and emergency vehicles, allowing municipalities and transit authorities to prioritize any mode of transport including emergency vehicles, transit vehicles, school buses, and freight vehicles.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of traffic signal controller reached USD 5.3 billion in 2023 and is set to witness 12% CAGR between 2024 and 2032, owing to increasing urbanization and traffic congestion in cities.

The urban area application segment is poised to reach USD 9 billion by 2032, owing to a substantially higher density of automobiles and people than the suburbs.

North America traffic signal controller industry held a revenue of USD 1.8 billion in 2023, owing to rapid urbanization, resulting in increased traffic congestion.

Atkins, Econolite, Johnson Controllers, PTV Group, Siemens AG, Sumitomo Electric Mfg Co, SWARCO AG, Temple Inc., Traffic Technologies Pty Ltd, Yunex Traffic .

Traffic Signal Controller Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 300
  • Countries covered: 25
  • Pages: 250
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