Publication Month: Apr 2020 | Report Code: TIPRE00017749 | No. of Pages: 161 | Category: Technology, Media and Telecommunications | Status: Published
Adaptive traffic control system is a solution which designed and developed to manage the growing traffic issues faced by the metropolitan cities. The adaptive traffic control system analyzes the flow of traffic in real-time and accordingly adjust the traffic signals’ split timings to optimize the flow of the traffic in order reduce and avoid congestions on the road. The adaptive traffic control system is combination of hardware and software components which allows operators to gather data regarding the flow of traffic from each intersection of the city in order to minimize delays and stops. The system improves the travel time significantly by gradually moving the traffic through green lights to create smoother flow of traffic.
The outbreak of the COVID-19 has severely disrupted the supply chain and manufacturing of electronics equipment including the hardware component of adaptive traffic control system. The emergence of COVID-19 virus across the globe which led to lockdown scenarios has led the industry experts to analyze that the industry would face at least a quarter of lag in electronics equipment supply chain. This disruption is expected to create tremors through till mid-2021. The electronics equipment industry is likely to pick up pace sooner as governments across the globe lifted the various containment measure steadily in order to revive the economy. The production of the electronics equipment are is anticipated to gain pace from 2021 which is further foreseen to positively influence the electronics equipment manufacturing including hardware components of adaptive traffic control system.
The adaptive traffic control system market is segmented based on component, type, application and geography. The adaptive traffic control system market, based on component, is segmented into hardware, software, and service. Based on type, the market is segmented into SCATS, SCOOT, RHODES, and OPAC. Based on application, the market is segmented into urban (cities) and highways. The adaptive traffic control system market, by region, is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).
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The increasing number of on-road vehicles, which is forecasted to reach up to 2 Bn by 2040, will result in fuel wastage and time, boost noise pollution, and increase road accidents. Thus, a high traffic congestion across numerous cities globally demands a proper and efficient traffic planning and control system. The governments across the world are investing hugely and taking several initiatives by supporting various developments in traffic control and management infrastructure. The deployment of traffic management systems provides the capability to analyze and respond to traffic-related data in real-time instantly. These systems offer huge opportunity for the market to develop advanced IT solutions, which help in efficient handling of traffic flow, as well as boost the safety and security of commuters. Therefore, the growing urbanization and high demographic rates are factors supporting the growth of the adaptive traffic control system across the world.
Based on Component, the adaptive traffic control system market is segmented into hardware, software, and services. The software segment led the adaptive traffic control system market. Software components of adaptive traffic control systems include smart signaling, traffic analytics, video analytics, and video management software. These components allow traffic managers to reduce congestions and boost road safety. They facilitate monitoring, detection, review, and improvement of traffic issues in real time. It collects, processes, records, and shares traffic information with road users and authorities in real time.
Based on type, the global adaptive traffic control system market is segmented into OPAC, SCOOT, RHODES, and SCATS. The SCATS segment led the adaptive traffic control system market. SCATS technology helps in shorter journey times by reducing the traffic congestion as well as increasing safety and productivity. The SCATS technology provides advanced and innovative solutions to meet the ever-rising demands of the future traffic management.
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Based on application, the adaptive traffic control system market is segmented into highways, and urban (cities). The urban areas across the world are facing severe issues of traffic congestions that causes stress to drivers, loss of money and time, and increase in carbon dioxide emission. To efficiently deal with these emerging global issues, the governments of various countries are investing ample amount toward the deployment of smart traffic control system, intelligent transport systems, and many more.
|Market Size Value in||US$ 4,773.59 Million in 2021|
|Market Size Value by||US$ 15,214.09 Million by 2028|
|Growth rate||CAGR of 18.0% from 2022-2028|
|No. of Pages||161|
|No. of Tables||88|
|No. of Charts & Figures||81|
|Historical data available||Yes|
|Segments covered||Component , Type , and Application , Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
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Players operating in the Adaptive traffic control system market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the Adaptive traffic control system market. A few developments by key players of the Adaptive traffic control system market are:
In January 2021, SWARCO AG had secured three EU-funded traffic and public transport management projects in Romania. As part of the agreement, the company would install traffic management equipment across three Romanian cities, including Piatra Neamt, Drobeta, and Bistrita.
In Oct-2020, Siemens Mobility has intended to acquire Aldridge Traffic Controllers Pty Limited (ATC).
The List of Companies - Adaptive Traffic Control System Market