Global Adaptive Traffic Control System Market Overview:
The increasing government initiatives for successful traffic management as well as significant investments under smart traffic management initiatives will help to boost the global demand for the Adaptive Traffic Control System market. By constantly altering the green split timings, the Adaptive Traffic Control System responds to real-time traffic patterns to maximise traffic flow. For traffic surveillance, ATCS employs cameras and sensors. These sensors collect data, which is then analyzed in order to enhance signal timing at a specific intersection. Clogged roads, gigantic vehicle trails, and crowded roadways continue to constitute a serious concern for the stakeholders involved in the urban planning arena, thanks to the exponential development in the global population combined with the growing number of automobiles globally.
As per latest study released by AMA Research, the Global Adaptive Traffic Control System market is expected to see growth rate of 18.0%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
High Demographic Rates and Growing Government Initiatives for Deployment of Smart Traffic Technologies
Market Growth Drivers:
The growing number of on-road vehicles and The Increasing Urban Population
Challenges:
The Issues Related to Security threats and hacker challenges
Restraints:
The Concern Related to Slow growth in the infrastructure sector and The limited budgets allocated to the traffic industry remains a critical issue
Opportunities:
The Surging demand for cutting-edge artificial intelligence (AI) technology
Competitive Landscape:
Adaptive Traffic Control System market is a fragmented market due to the presence of various players. Companies are focusing on developing innovative products and solution to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are IBM Corporation (United States), Siemens AG (Germany), Aldridge Traffic Controllers Pty Limited (Australia), Analog & Digital Labs (India), CMS Computers Limited (India), Johnson Controls (Ireland), TransCore Atlantic LLC (UAE), Swarco Holding (Austria), Kapsch TrafficCom AG (Austra), Atkins Group (SNC-Lavalin Group Inc.) (United Kingdom) and Cubic Corporation (United States). Additionally, following companies can also be profiled that are part of our coverage like IntelliVision (Nortek Security & Control LLC.) (United States), Efftronics Systems Pvt. Ltd. (India), Onnyx Electronisys Pvt. Ltd. (India), EFKON India Private Limited (India) and Digicon S/A (Brazil). Analyst at AMA Research see United States Players to retain maximum share of Global Adaptive Traffic Control System market by 2030. Considering Market by Component, the sub-segment i.e. Hardware [Infrastructure] will boost the Adaptive Traffic Control System market.
Latest Market Insights:
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 October 2020, Siemens Mobility has initiated proceedings for the acquisition of Aldridge Traffic Controllers (ATC), the main player in the market for urban traffic control and SCATS customers around the world. ATC is one of a few companies holding a license to distribute the Sydney Coordinated Adaptive Traffic System (SCATS), a holistic, innovative and scalable system of traffic management software and SCATS type approved controllers
Analyst View
During the forecast period, the worldwide adaptive traffic control system market is expected to grow at an amazing CAGR of 18%. The market's expansion can be attributed to a number of factors, including an increase in the number of vehicles in urban areas, an increase in traffic congestion problems, an increase in the number of road accidents worldwide, and an increase in the use of novel technologies, such as artificial intelligence and machine learning. To strengthen their market position, industry participants should focus on overcoming supply chain challenges brought on by the COVID-19 pandemic and seizing chances in developing parts of the world.
What Can be Explored with the Adaptive Traffic Control System Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Adaptive Traffic Control System Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Adaptive Traffic Control System
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Adaptive Traffic Control System market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Adaptive Traffic Control System market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Adaptive Traffic Control System Providers, Government Research Organization, Private Research Organization, Government Regulatory bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.