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Report
US Traffic Signal Controller Market Research Report Forecast to 2030
Market Report I 2023-10-04 I 71 Pages I Market Research Future
US Traffic Signal Controller Market Research Report Forecast to 2030
Market Overview
As per WGR, the US traffic signal controller Market has been growing significantly over the past few years. It is expected to reach USD 1,178.24 Million by 2030, at a CAGR of 5.2% during the forecast period, 2022-2030.
The traffic signal controller market in the US has been growing steadily over the past few years, driven by factors such as increasing urbanization, growing population, and government initiatives to improve traffic flow and reduce congestion. As more people move to cities and urban areas, traffic congestion becomes a major issue. Traffic signal controllers are essential for managing traffic flow and reducing congestion in urban areas. The US population is projected to continue growing over the coming years, which will increase the number of vehicles on the road. Traffic signal controllers are necessary to handle the increased traffic volume. Federal, state, and local governments have been investing in traffic management systems to improve safety and efficiency on roads. Traffic signal controllers are a critical component of these systems. Traffic signal controllers have been evolving rapidly, with advancements in areas such as sensors, communication technologies, and data analytics. These advancements have made traffic signal controllers more effective and efficient, driving demand for new installations and upgrades. Traffic congestion not only causes inconvenience but also contributes to air pollution and greenhouse gas emissions. By improving traffic flow, traffic signal controllers can help reduce emissions and improve air quality. This is an important factor driving government and public interest in traffic signal controller systems.
Market Segmentation
The US Traffic signal controller Market has been segmented based on Type, and Application. The US Traffic signal controller market, in this report, has been segmented based on Type into Standard controller and Smart Controller. The Standard Controller segment accounted for the largest market share with a market value of USD 488.6 Million in 2021, which is projected to grow at a CAGR of 4.5% during the forecast period. However, the Smart Controller is expected to grow at the highest CAGR of 6.3%.The US Traffic signal controller market, in this report, has been segmented on the basis of Application into Urban and Suburban. Urban accounted for the largest market share with a market value of USD 603.5 Million in 2021, which is projected to grow at a CAGR of 4.7% % during the forecast period.
Major Players
The key market players include Siemens Mobility, Cubic Transportation Systems, Inc., Swarco McCain, Inc., Econolite, and Others.
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TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 10
2 MARKET INTRODUCTION 12
2.1 DEFINITION 12
2.2 SCOPE OF THE STUDY 12
2.3 RESEARCH OBJECTIVE 12
2.4 MARKET STRUCTURE 12
3 RESEARCH METHODOLOGY 13
4 MARKET DYNAMICS 20
4.1 INTRODUCTION 20
4.2 DRIVERS 21
4.2.1 RAPID URBANIZATION COUPLED WITH URBAN TRAFFIC CONGESTION 21
4.2.2 INCREASED GOVERNMENT INITIATIVES FOR TRAFFIC MANAGEMENT SYSTEM TO BOOST MARKET GROWTH 21
4.2.3 INCREASED DEMAND FOR EFFICIENT ROAD NETWORKS AROUND THE REGION TO PROPEL MARKET GROWTH 22
4.2.4 DRIVERS IMPACT ANALYSIS 22
4.3 RESTRAINTS 23
4.3.1 ABSENCE OF UNIFORM AND STANDARDIZED TECHNOLOGIES 23
4.3.2 RESTRAINTS IMPACT ANALYSIS 23
4.4 OPPORTUNITIES 24
4.4.1 ADOPTION OF SMART CITY PROJECTS WORLDWIDE 24
4.4.2 GROWING SMART TRANSPORTATION AND TECHNOLOGICAL ADVANCEMENTS 24
4.5 IMPACT OF COVID-19 ON US ECONOMY 25
4.6 SUPPLY CHAIN IMPACT 26
5 MARKET FACTOR ANALYSIS 27
5.1 SUPPLY/VALUE CHAIN ANALYSIS 27
5.1.1 R&D 28
5.1.2 MANUFACTURING 28
5.1.3 DISTRIBUTION & SALES 28
5.1.4 POST-SALES MONITORING 28
5.2 PORTER'S FIVE FORCES MODEL 29
5.2.1 THREAT OF NEW ENTRANTS 30
5.2.2 BARGAINING POWER OF SUPPLIERS 30
5.2.3 BARGAINING POWER OF BUYERS 30
5.2.4 THREAT OF SUBSTITUTES 30
5.2.5 INTENSITY OF RIVALRY 30
6 US TRAFFIC SIGNAL CONTROLLER MARKET, BY TYPE 31
6.1 OVERVIEW 31
6.1.1 US TRAFFIC SIGNAL CONTROLLER MARKET, BY TYPE, 2019-2030 (USD MILLION) 32
6.2 STANDARD CONTROLLER 32
6.3 SMART CONTROLLER 32
7 US TRAFFIC SIGNAL CONTROLLER MARKET, BY APPLICATION 33
7.1 OVERVIEW 33
7.1.1 US TRAFFIC SIGNAL CONTROLLER MARKET, BY APPLICATION, 2019-2030 (USD MILLION) 34
7.2 URBAN 34
7.3 SUBURBAN 34
8 COMPETITIVE LANDSCAPE 35
8.1 COMPETITIVE BENCHMARKING 36
8.2 VENDOR SHARE ANALYSIS 37
8.3 RECENT DEVELOPMENTS 37
8.3.1 COLLABORATION,CONTRACT NAND PARTNERSHIP 37
8.3.2 ACQUISITION 38
8.3.3 PRODUCT LAUNCH 38
9 COMPANY PROFILES 39
9.1 SIEMENS MOBILITY 39
9.1.1 COMPANY OVERVIEW 39
9.1.2 FINANCIAL OVERVIEW 40
9.1.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 41
9.1.4 KEY DEVELOPMENTS 43
9.1.5 SWOT ANALYSIS 44
9.1.6 KEY STRATEGIES 44
9.2 SWARCO MCCAIN, INC. 45
9.2.1 COMPANY OVERVIEW 45
9.2.2 FINANCIAL OVERVIEW 45
9.2.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 45
9.2.4 KEY DEVELOPMENTS 48
9.2.5 SWOT ANALYSIS 48
9.2.6 KEY STRATEGIES 49
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9.3 ECONOLITE 50
9.3.1 COMPANY OVERVIEW 50
9.3.2 FINANCIAL OVERVIEW 50
9.3.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 51
9.3.4 KEY DEVELOPMENTS 51
9.3.5 SWOT ANALYSIS 52
9.3.6 KEY STRATEGIES 52
9.4 CUBIC TRANSPORTATION SYSTEMS, INC. 53
9.4.1 COMPANY OVERVIEW 53
9.4.2 FINANCIAL OVERVIEW 53
9.4.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 53
9.4.4 KEY DEVELOPMENTS 54
9.4.5 SWOT ANALYSIS 54
9.4.6 KEY STRATEGIES 54
9.5 JOHNSON CONTROLS 55
9.5.1 COMPANY OVERVIEW 55
9.5.2 FINANCIAL OVERVIEW 55
9.5.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 56
9.5.4 KEY DEVELOPMENTS 56
9.5.5 SWOT ANALYSIS 56
9.5.6 KEY STRATEGIES 57
9.6 ORIUX 58
9.6.1 COMPANY OVERVIEW 58
9.6.2 FINANCIAL OVERVIEW 58
9.6.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 59
9.6.4 KEY DEVELOPMENTS 59
9.7 SUMITOMO ELECTRIC INDUSTRIES, LTD. 60
9.7.1 COMPANY OVERVIEW 60
9.7.2 FINANCIAL OVERVIEW 61
9.7.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 62
9.7.4 KEY DEVELOPMENTS 62
9.7.5 SWOT ANALYSIS 62
9.7.6 KEY STRATEGIES 62
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9.8 KYOSAN ELECTRIC MFG. CO., LTD. 63
9.8.1 COMPANY OVERVIEW 63
9.8.2 FINANCIAL OVERVIEW 63
9.8.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 64
9.8.4 KEY DEVELOPMENTS 64
9.8.5 SWOT ANALYSIS 64
9.8.6 KEY STRATEGIES 64
9.9 HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD. 65
9.9.1 COMPANY OVERVIEW 65
9.9.2 FINANCIAL OVERVIEW 66
9.9.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 66
9.9.4 KEY DEVELOPMENTS 67
9.9.5 SWOT ANALYSIS 67
9.9.6 KEY STRATEGIES 67
9.10 DAHUA TECHNOLOGY CO., LTD 68
9.10.1 COMPANY OVERVIEW 68
9.10.2 FINANCIAL OVERVIEW 68
9.10.3 PRODUCTS/SOLUTIONS/SERVICES OFFERED 69
9.10.4 KEY DEVELOPMENTS 69
9.10.5 SWOT ANALYSIS 70
9.10.6 KEY STRATEGIES 70
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LIST OF TABLES
TABLE 1 MARKET SYNOPSIS 11
TABLE 2 US TRAFFIC SIGNAL CONTROLLER MARKET, BY TYPE, 2019-2030 (USD MILLION) 32
TABLE 3 US TRAFFIC SIGNAL CONTROLLER MARKET, BY APPLICATION, 2019-2030 (USD MILLION) 34
TABLE 4 COLLABORATION, CONTRACT AND PARTNERSHIP 37
TABLE 5 ACQUISITION 38
TABLE 6 PRODUCT LAUNCH 38
TABLE 7 SIEMENS MOBILITY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 41
TABLE 8 SIEMENS MOBILITY: KEY DEVELOPMENTS 43
TABLE 9 SWARCO MCCAIN, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 45
TABLE 10 SWARCO MCCAIN, INC.: KEY DEVELOPMENTS 48
TABLE 11 ECONOLITE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 51
TABLE 12 ECONOLITE: KEY DEVELOPMENTS 51
TABLE 13 CUBIC TRANSPORTATION SYSTEMS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 53
TABLE 14 CUBIC TRANSPORTATION SYSTEMS, INC.: KEY DEVELOPMENTS 54
TABLE 15 JOHNSON CONTROLS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 56
TABLE 16 ORIUX: PRODUCTS/SOLUTIONS/SERVICES OFFERED 59
TABLE 17 SUMITOMO ELECTRIC INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 62
TABLE 18 KYOSAN ELECTRIC MFG. CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 64
TABLE 19 HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 66
TABLE 20 DAHUA TECHNOLOGY CO., LTD: PRODUCTS/SOLUTIONS/SERVICES OFFERED 69
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LIST OF FIGURES
FIGURE 1 US TRAFFIC SIGNAL CONTROLLER MARKET: MARKET STRUCTURE 12
FIGURE 2 BOTTOM-UP AND TOP-DOWN APPROACHES 17
FIGURE 3 DRO ANALYSIS OF US ROAD TRAFFIC SIGNAL CONTROLLER MARKET 20
FIGURE 4 DRIVERS IMPACT ANALYSIS: US ROAD TRAFFIC SIGNAL CONTROLLER MARKET 22
FIGURE 5 RESTRAINTS IMPACT ANALYSIS: US ROAD TRAFFIC SIGNAL CONTROLLER MARKET 23
FIGURE 6 SUPPLY / VALUE CHAIN: US ROAD TRAFFIC SIGNAL CONTROLLER MARKET 27
FIGURE 8 US TRAFFIC SIGNAL CONTROLLER MARKET, BY TYPE, 2021 (% SHARE) 31
FIGURE 9 US TRAFFIC SIGNAL CONTROLLER MARKET, BY TYPE, 2021 VS 2030 (USD MILLION) 31
FIGURE 10 US TRAFFIC SIGNAL CONTROLLER MARKET, BY APPLICATION, 2021 (% SHARE) 33
FIGURE 11 US TRAFFIC SIGNAL CONTROLLER MARKET, BY APPLICATION, 2021 VS 2030 (USD MILLION) 33
FIGURE 12 TRAFFIC SIGNAL CONTROLLER MARKET: COMPETITIVE BENCHMARKING 36
FIGURE 13 VENDOR SHARE ANALYSIS, 2021 (%) 37
FIGURE 14 SIEMENS MOBILITY (SIEMENS AG): FINANCIAL OVERVIEW SNAPSHOT 40
FIGURE 15 SIEMENS MOBILITY: SWOT ANALYSIS 44
FIGURE 16 SWARCO MCCAIN, INC.: SWOT ANALYSIS 48
FIGURE 17 ECONOLITE: SWOT ANALYSIS 52
FIGURE 18 CUBIC TRANSPORTATION SYSTEMS, INC.: SWOT ANALYSIS 54
FIGURE 19 JOHNSON CONTROLS: FINANCIAL OVERVIEW SNAPSHOT 55
FIGURE 20 JOHNSON CONTROLS: SWOT ANALYSIS 56
FIGURE 21 SUMITOMO ELECTRIC INDUSTRIES, LTD. (SUMITOMO CORPORATION): FINANCIAL OVERVIEW SNAPSHOT 61
FIGURE 22 SUMITOMO ELECTRIC INDUSTRIES, LTD.: SWOT ANALYSIS 62
FIGURE 23 KYOSAN ELECTRIC MFG. CO., LTD.: FINANCIAL OVERVIEW SNAPSHOT 63
FIGURE 24 KYOSAN ELECTRIC MFG. CO., LTD.: SWOT ANALYSIS 64
FIGURE 25 HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.: FINANCIAL OVERVIEW SNAPSHOT 66
FIGURE 26 HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.: SWOT ANALYSIS 67
FIGURE 27 DAHUA TECHNOLOGY CO., LTD: FINANCIAL OVERVIEW SNAPSHOT 68
FIGURE 28 DAHUA TECHNOLOGY CO., LTD: SWOT ANALYSIS 70
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