Light-Emitting Diode Traffic Signs and Signals Market Size, Share 2020: Global Industry Overview By Trends, Growth Factors, Historical Analysis, Opportunities and Industry Segments Poised for Rapid Growth by 2024

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LONDON–(BUSINESS WIRE)–Nov 2, 2020–

The new light-emitting diode traffic signs and signals market research from Technavio indicates Negative growth in the short term as the business impact of COVID-19 spreads.

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Technavio has announced its latest market research report titled Global Light-Emitting Diode (LED) Traffic Signs and Signals Market 2020-2024 (Graphic: Business Wire)

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“One of the primary growth drivers for this market is the Increasing Investments in Road Infrastructure,” says a senior analyst for Industrials at Technavio.

The increasing investments in road infrastructure will be one of the major factors fueling LED traffic signs and signals market growth. The developing countries across the globe are increasingly focusing on improving their infrastructure. The development of the transport infrastructure in these countries will positively impact market growth since the installation of traffic signs and signals will regulate the traffic flow leading to reduced accidents.

As the markets recover Technavio expects the light-emitting diode traffic signs and signals market size to grow by USD 356.63 million during the period 2020-2024.

Light-Emitting Diode Traffic Signs and Signals Market Segment Highlights for 2020

  • The light-emitting diode traffic signs and signals market is expected to post a year-over-year growth rate of 6.72%.
  • Traffic signals are a prerequisite at the road intersections and also at highways, car parking areas, and toll booths.
  • The gradual replacement of incandescent traffic lights with LED lights across the globe, especially in major developed countries, has contributed to the growth of the traffic signals market.
  • However, the light-emitting diode traffic signs and signals market share growth by the LED traffic signals segment will be slower than the growth of the market by the LED traffic signs segment.

Regional Analysis

  • 33% of the growth will originate from the North America region.
  • Potential opportunities for innovations in traffic lights and development of infrastructure, such as roadways will significantly drive light-emitting diode traffic signs and signals market growth in this region over the forecast period.
  • The US is one of the key markets for light-emitting diode traffic signs and signals in North America. Market growth in this region will be slower than the growth of the market in Europe and APAC.


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Notes:

  • The light-emitting diode traffic signs and signals market size is expected to accelerate at a CAGR of over 8% during the forecast period.
  • The light-emitting diode traffic signs and signals market is segmented by Product (LED traffic signals and LED traffic signs) and Geography (North America, Europe, APAC, South America, and MEA).
  • The market is fragmented due to the presence of many established vendors holding significant market share.
  • The research report offers information on several market vendors, including Alphatronics NV, Econolite, Federal Signal Corp., GE Current a Daintree Co., Peek Traffic Corp., Sinowatcher Technology Co. Ltd., SWARCO AG, Trafitronics India Pvt. Ltd., Ver-Mac, and WERMA Signaltechnik GmbH.

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About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:[email protected]

Website:www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: OTHER CONSTRUCTION & PROPERTY CONSTRUCTION & PROPERTY URBAN PLANNING

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 11/02/2020 01:00 AM/DISC: 11/02/2020 01:01 AM

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References

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  2. ^ Download free report sample (cts.businesswire.com)
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