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Traffic signal controller is the mind of the intersection at the squares or interjection on roads. The signal controllers have reduced the human efforts for managing increased traffic across the globe. Controllers have enabled regulating traffic flows efficiently on the existing road infrastructure.
The controllers have reduced unnecessary jamming of roads due to cross movements of vehicles resulting in smooth flow of traffic and minimizing accidents. The traffic controllers not only control the traffic but also aids in maintaining rules and regulation. This will result in improved road safety and smart traffic management system hence increasing the signal controller trend of intelligent mobility management systems.
Furthermore, traffic signal controller has enabled coordination of traffic signals at adjacent interjections resulting in streamlining of the traffic movement. Traffic signal controller offers several benefits such as improved flow of traffic, controlling the movement of traffic, aiding in the diversion of traffic at critical junctions, etc.
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Moreover, IoT and sensor technologies in creating lucrative opportunities for companies to have a significant market share in the forecasted period. Additionally, the modern signal controller is fully actuated for producing signal timings depending upon the level of traffic which is detected by vehicle detectors making it easier for allocation of green time in several phases.
Additionally, smart management solutions to reduce travel time along with increase vehicle and pedestrian safety has fueled the demand of the signal controllers. For instance, Dubai came into contracts with Hyperloop One Inc., a U.S. based transport solutions provider. This project is targeted to increase the conveyance of the people in reducing the travel time from Dubai to Abu Dhabi in just 12 minutes and transform the city’s mobility technology. This will result in Improving road infrastructure, along with management of increased demand for self-driven cars and traffic management, which will boost the market growth.
Key players operating in the global traffic signal controller market are Sumitomo, SWARCO, Indra Sistemas S.A., Tyco Traffic & Transportation, QTC Traffic Technology Limited, ECONOLITE, Kyosan Electric Mfg. Co. Ltd, Shenzhen Fama Intelligent Equipment CO.Ltd, Temple Inc., Aldridge Traffic Controllers.
North America is estimated to have the largest market share during the forecast period owing to increasing number of vehicles among individuals. The development of the market is also attributed to the presence of well-established infrastructure and technological giants. Furthermore, strict regulation by government and increasing support of artificial intelligence along with automation will enhance the growth in the market.In Asia Pacific, is expected to show the highest CAGR during the forecast period. The growth in this region is owed to high population in countries such as, China & India taking ~38% of global population. Additionally, the region is showing increased adoption of vehicles and high urbanization along with emerging smart cities which is expected to increase the market of traffic signal controller market.
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