LED traffic signs and signals market is anticipated to grow at a CAGR of 4.2% during the forecast period (2024-2031) owing to increasing government investments in the development of road infrastructure, adoption of artificial intelligence (AI) in traffic signs enables centralized management, and energy efficient compared to incandescent bulbs. Energy efficiency is one of the major factors driving the adoption of LED technology in the traffic signs and signals industry. LED lighting has several advantages over traditional lighting systems in terms of efficiency and energy use. LED lights are far more energy-efficient than traditional incandescent bulbs. Significant energy savings can be achieved by using LED traffic signs and signals in comparison to incandescent traffic lights. LED traffic signals need 80–90% less energy and have a longer lifespan of five to ten times. Additionally, LED traffic signs are bright in color and require low maintenance, which further boosts the market growth.
Get Free Sample link @ https://www.omrglobal.com/request-sample/led-traffic-signs-and-signals-market
Among the application, the urban traffic sub-segment is expected to hold a considerable share of the LED Traffic Signs and Signals market owing to owing to increasing government investments in the development of road infrastructure, energy traffic lights, and adoption of artificial intelligence (AI) in traffic signs enables centralized management. According to the United Nations Statistics Division (UNSD), more than half of the world’s population lives in cities, and it’s expected that by 2050, around 7 out of 10 people will be in urban areas. Cities serve as the powerhouse of the economy across the globe, representing approximately 80.0% of the global GDP. Government investments play a major role in the LED traffic signs and signals market with the investment in developing infrastructure and promoting safer driving practices. Nation such as US is home to several mega projects and has been continuously developing its infrastructure. Texas Department of Transportation (TxDOT) responsible for the construction and maintenance of the state’s immense state highway system has been investing in various highway projects. For instance, in December 2022 work begin on Southeast Connector project with aim of of rebuilding and widen approximately 16 miles of I-20 and I-820. According to TxDOT, the project will cost $1.6 billion. Southeast Connector has been approved by the Texas Transportation Commission to be a part of the state-wide Texas Clear Lanes initiative, a program to address the most congested chokepoints in the state. The Southeast Connector project is estimated to finish in 2028. This development will bring the opportunity for the LED Traffic Signs and Signals market as the route is far bigger and requires many LED signal light installations.
full report of LED Traffic Signs and Signals Market available @ https://www.omrglobal.com/industry-reports/led-traffic-signs-and-signals-market
- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global LED Traffic Signs and Signals Market by Product
- Electric Powered
- Solar Powered
Global LED Traffic Signs and Signals Market by Application
- Railway
- Airport
- Urban Traffic
Company Profiles
- Alphatronics
- Availed Technologies Inc.
- Carmanah Technologies Corp.
- Data Signs Pty Ltd
- Digi International Inc.
- Econolite Group, Inc.
- Electrotechnics Corporation
- Federal Signal Corporation
- Signal Technologies
- Simmonsigns Ltd.
- Sinowatcher Technology Co., Ltd
- So Bright Electronics Co., Ltd.
- Solar Lighting International
- Transportation Solutions and Lighting, Inc.
- Ver-Mac
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global LED traffic signs and signals market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/led-traffic-signs-and-signals-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
