The adaptive traffic control systems market is expected to exceed the value of US $ 21.9 billion by 2030, growing at a CAGR of 18% during the forecast period
ALBANY, NY, United States, December 21, 2021 /EINPresswire.com/ – Transparency market research provides key insights into the global market Adaptive Traffic Control Systems Market. In terms of revenue, the global Adaptive Traffic Control System market is expected to grow at a CAGR of 18% during the forecast period, owing to many factors that TMR offers in-depth information and forecast in its report on the global adaptive traffic control system market. .
Adaptive traffic control systems refer to the management of elements on the roads, which control most of the traffic in such a way that these elements operate according to the real-time traffic conditions of the roads. Traffic lights are the most important control system, which controls most of the traffic; modify their schedules according to real-time traffic conditions detected by sensors or surveillance camera can significantly reduce congestion and increase road safety and mobility.
Traffic is growing exponentially due to the growing number of city dwellers and advancements in the automotive industry, making traffic management systems an inevitable part of every city. As a result, the adaptive traffic control systems market is expected to witness a healthy growth rate during the forecast period.
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Adaptive Traffic Control System Market: Dynamic
Based on the current scenario, the transportation industry is having a fairly positive impact on the Adaptive Traffic Control Systems market, owing to the increasing use of personal transportation during COVID-19. Therefore, the demand and adoption of intelligent traffic management systems or adaptive traffic control systems have increased in cities and municipalities. For example, according to Aldridge Traffic Controllers, a transportation solutions provider, since the onset of COVID-19, demand for ATSC4 traffic light controller products has increased dramatically across the world. The company has delivered many ATSC4 traffic light controllers both locally and at sea. People are unlikely to continue using buses and trains as before due to COVID-19. Currently, people prefer private cars or bicycles as a means of transportation. Therefore, traffic or air pollution is expected to increase. This increases spending on adaptive traffic control systems around the world.
Adaptive Traffic Control System Market: Important Regions
The North America Adaptive Traffic Control System market is expected to expand during the forecast period, owing to the presence of key market players and technological advancement. The increase in smart city initiatives and rapid advancements in technology are helping to increase the demand for advanced traffic management systems in the region. In addition, the growing number of contracts signed between governments in the region and companies in North America is also fueling market growth in the region. The adaptive traffic control systems market in Europe is expected to witness favorable growth during the forecast period owing to the significant adoption of adaptive traffic control systems in the region. The Asia-Pacific market is expected to expand during the forecast period, owing to the increase in government initiatives for the development of smart cities and intelligent traffic systems in the region.
Adaptive Traffic Control System Market: Key Players
The major players operating in the global adaptive traffic control systems 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, SA
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Growing government initiatives for the deployment of smart traffic technologies: a key factor
Governments of many countries around the world are actively engaged in the deployment of intelligent traffic management systems such as adaptive traffic control systems due to their many advantages. Adaptive traffic control systems keep traffic flowing by reducing congestion and reducing excessive fuel consumption, pollution levels and delays in cities, prioritizing traffic and evenly distributing the go-ahead time in accordance with real-time traffic information. According to the Texas Transportation Institute, the cost of traffic jams is US $ 87.2 billion in wasted fuel and lost productivity. This translates to US $ 750 per traveler. Adaptive traffic light control technologies improve travel time by more than 10%.
In 2020, Asfinag, the Austrian operator of public roads, selected Siemens Mobility to provide the technology for an intelligent traffic management system that provides a real-time scenario for the exchange of safety information between vehicles and the road.
Thus, increasing government initiatives for successful traffic management and large investments in intelligent traffic management initiatives are expected to fuel the growth of the adaptive traffic control systems market.
However, the limited budgets allocated to the trafficking industry remain a critical issue. High cost of hardware along with lack of expertise in system configuration and maintenance are major factors which are expected to hamper the growth of Adaptive Traffic Control Systems market during the forecast period.
The installation of advanced traffic management systems can interfere with the privacy of citizens. The citizens are very concerned about their privacy as the traffic surveillance efforts lead to the capture of their daily movements.
Efforts to ensure confidentiality through anonymity can alleviate this problem. However, until a suitable solution is found, privacy will continue to thwart the growth of the adaptive traffic control systems market.
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