Adaptive Traffic Control System Market: Introduction
Transparency Market Research delivers key insights on the global adaptive traffic control system market. In terms of revenue, the global adaptive traffic control system market is estimated to expand at a CAGR of ~18% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global adaptive traffic control system market.
Adaptive traffic control systems refer to the management of elements on roads, which control most of the traffic in such a way that those elements work according to real-time traffic conditions of roads. Traffic signals are the most important control system, which controls most of the traffic; changing their timings according to real time traffic conditions detected by sensors or CCTV cameras can greatly reduce congestion and increase safety and mobility of roads.
Traffic is increasing exponentially due to the rising number of city dwellers and advancements in the automotive sector, making traffic management systems an inevitable part of every city. As a result, the adaptive traffic control systems market is anticipated to witness healthy growth rate during the forecast period.
Adaptive Traffic Control System Market: Dynamics
Based on the current scenario, the transportation sector is having a fairly positive impact on the adaptive traffic control system market, owing to increasing use of personal transport during COVID-19. Therefore, demand and adoption of intelligent traffic management systems or adaptive traffic control systems has increased in cities and municipalities. For instance, according to Aldridge Traffic Controllers, a provider of transportation solutions, since COVID-19 started, demand for ATSC4 traffic signal controller products is significantly increasing across the globe. The company has delivered many ATSC4 traffic signal controllers both locally and offshore. People will not probably continue to use buses and trains like before due to COVID-19. Currently, people prefer private cars or bicycles as a means of transport. Hence, traffic or air pollution is expected to increase. This is increasing spending on adaptive traffic control systems across the globe.
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Adaptive Traffic Control System Market: Prominent Regions
The adaptive traffic control system market in North America is expected to expand during the forecast period, owing to the presence of key market players and technological advancements. Increasing smart city initiatives and rapid advancement in technology help in increasing the demand for advanced traffic management systems in the region. Furthermore, increasing number of contracts signed between governments of the region and companies in North America also fuels growth of the market within the region. The adaptive traffic control system market in Europe is projected to witness favorable growth during the forecast period, due to significant adoption of adaptive traffic control systems in the region. The Asia Pacific market is likely to expand during the forecast period, owing to increasing government initiatives for the development of smart cities and smart traffic systems in the region.
Adaptive Traffic Control System Market: Key Players
Key players operating in the global adaptive traffic control system market are IBM Corporation, Siemens AG, Atkins Group (SNC-Lavalin Group Inc.), Johnson Controls, TransCore Atlantic LLC , Swarco Holding , Kapsch TrafficCom AG, Cubic Corporation, Aldridge Traffic Controllers Pty Limited, Analog & Digital Labs, CMS Computers Limited, IntelliVision (Nortek Security & Control LLC.), EFKON India Private Limited, Digicon S/A, Efftronics Systems Pvt. Ltd., Onnyx Electronisys Pvt. Ltd., and SOCIEDAD IBÉRICA DE CONSTRUCCIONES ELÉCTRICAS, S.A.
Global Adaptive Traffic Control System Market: Segmentation
Adaptive Traffic Control System Market, by Component
- Hardware (Infrastructure)
- Consulting Services
- Integration & Implementation
- Support & Maintenance
Adaptive Traffic Control System Market, by Type
- Other Systems
Adaptive Traffic Control System Market, by Application
- Urban (Cities)
Adaptive Traffic Control System Market, by Region
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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