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Traffic Lights Market Segmented By Incandescent lights and LED lights technology with application such as Street lights, Junction signals, Cyclists, Pedestrians, Equestrians and Zebra crossing
Traffic lights as the name suggest are the traffic signal lights that play a vital role in maintaining traffic in discipline across towns and cities. Increasing fleet on road and urbanization with limited resources of infrastructure at present time leads to elongated travelling time. The traffic lights has always been the essential part of the whole traffic systems controlling by assigning priorities to varied traffic movements and encourage suitable traffic flow. With the ever increasing urbanization around the world, the traffic lights market is anticipated to create ample opportunities over the forecast period.
Traffic lights are the most important element in the management of traffic systems on road, railways, airports, sea ports etc. the traffic lights market offers products in varied range for the orderly movement of the traffic. Traffic lights are used to increase the handling capacities of the traffic on the intersection and traffic movement at a definite speed on a certain route.
The traffic lights are not only used to manage vehicular traffic but also pedestrians, cyclists and equestrians. The traffic lights market is expected to accelerate in the coming future for its necessity to minimize delays and congestions in the traffic.
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The traffic lights market is about to gain immense opportunities as the countries are working on the development of infrastructures that includes roadways within the cities and across the borders. Roads being the primary means of transportation, the government has started working on the road construction to provide highways and expressways within the prominent cities for enhancing connectivity.
In order to provide safety for pedestrians and drivers, traffic lights becomes the significant factor to avoid road accidents and traffic congestions. Thus traffic lights market is observed to grow on a substantial level. Another driving factor is enforcement of the regulations regarding following traffic rules. The installation of new traffic lights and retrofitting for the pedestrian facilities, cycling lanes, extra-street lighting for country-side areas are expected to drive the traffic lights market during the forecast period.
The increasing traffic volume on the road leading towards the risks of road accident due to rash driving and drunk-and-drive are directly proportional. Installation of traffic lights at the accident prone areas such as intersections, hair pin bends, multiple lane roadways and etc. can aid to avoid unnecessary fatal situations on a long run.
Now-a-days with the increasing smart phone users, for whom normal traffic lights are not the line of sights while texting, the traffic lights strips on the sidewalks are expected to emerge as a new trend. For instance, the Bodegraven town in Netherlands, has installed green and red strips along the sidewalk that is synchronized with the traffic signals located on the intersections.
Another trend to come is the color changing LED (Light Emitting Diode) technology which will replace the incandescent lights and 3-different self-color LED traffic lights. Also LED traffic lights with certain symbol display aids people with colorblindness are expected to witness robust growth in the near future.
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Based on the geography, the traffic lights market is expected to dominate in Asia Pacific region for its growing urbanization that leads to the need for more infrastructure development. Countries like India, China and South Korea aims to modify the roadways for the ease in transportation sector and manage the growing traffic density.
Developed regions like North America and European regions are anticipated to witness moderate growth however, working on the innovative technologies to modify traffic management in the coming years.
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Some of the market players in traffic lights market are listed below:
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