Smart Signalling Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2024

Smart Signaling Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2024

Overview:
Smart traffic signals are a part of an integrated traffic management system, used for efficient control of traffic from a centralized location. These systems are equipped with embedded sensors that are used to analyze peak traffic volumes all day. The smart signaling systems could eventually be automated with the use of AI to proactively redirect traffic on routes with high throughput, thereby reducing traffic congestion, pollution, travel time, and the cost associated with it.

Smart traffic signals and sensors control the flow of traffic across cities in response to specific demand levels. With this implementation, there will be a reduction in traffic congestion by smoothing traffic flows and prioritizing traffic in response to demand in real time and reduce pollution across the city. In addition, smart signal collects event-based high-resolution traffic data from multiple intersections simultaneously and creates real-time signal performance measures, including arterial travel time, number of stops, queue length, intersection delay, and level of service. This system helps in the elimination of stop–start driving, which is inefficient and polluting.

Market Analysis:
According to Infoholic Research, the global smart signaling market is expected to reach revenue of $339.5 million by 2024, growing at a CAGR of around 41.4% during the forecast period. The market is likely to witness a substantial growth with increasing government initiatives toward creating smart and sustainable cities. Several smart city initiatives across the US and Canada have started implementing pilot projects for smart signaling. Canadian cities, Toronto and Montreal, are expected to receive smart signaling systems as the citizens spent over 45 hours in traffic annually in 2016 and 2017. Toronto has received deployment of smart signal pilot projects across 22 intersections in the city to replace the existing Adaptive Traffic Signal Control technology, currently used at 350 intersections. The technologies used in these pilot projects are InSync and Sydney Coordinated Adaptive Traffic System (SCATS), which make decisions based on video analysis and radar detection. The US also has integrated over 150 traffic signals across New Jersey and New York city, using InSync and SCATS, which help over 2.5 million vehicles every day.

Market Segmentation Analysis:
The report provides in-depth insights into major technology trends, supporting solutions and services, which govern smart signaling globally. The evaluation is backed with quantitative and qualitative analysis, historical data, and other supportable projections about the market size. The projections featured in the report have been derived using proven research methodologies and assumptions based on the vendor assessments from annual reports, white papers, press releases, and investor presentations along with end-user analysis for case studies. Thus, the research report serves every side of the market and is segmented based on regional markets, hardware, software, and services.

Regional Analysis
North America holds the highest market share due to the increasing push toward replacing adaptive traffic signal control systems with smart traffic solutions, as the commuters across the urban areas were estimated to be spent over 1 million hours per year due to vehicle delays. The ongoing smart city investments in the region are addressing these issues by pushing the need for real-time traffic sensing and understanding traffic patterns. Europe is projected to be one of the leading regions in the smart signaling market, owing to the high investment in smart city and smart transportation projects for reducing congestion and improving the traffic flow. In addition, Asia Pacific and MEA are projected to be the fast-growing regions due to the increasing concern toward congestion-free roads.

European Union (EU) is the leading adopter of smart signaling in Europe. EU has announced to spend over $1.2 billion on transport infrastructure across the EU countries. The project would mainly focus on building infrastructure to achieve low-emission mobility to enable sustainable transport. The initiatives such as transportation strategies for 2020 and push for reducing vehicle emissions are expected to push the demand for smart signaling across the region. The ongoing smart mobility investments are resulting in the mobility-as-a-service business model. Smart cities in the UK, Switzerland, Finland, and Spain have already seen mobility-as-a-service offered on a monthly subscription basis to the commuters.

Competitive Analysis
The report contains an in-depth analysis of vendors, which include financial health, business units, key business priorities, SWOT, strategies, and views; and competitive landscape. The key players operating in the smart signaling market include Onnyx, Trafficware, Rapid Flow Technologies, GE, Siemens AG, and others. The vendors have been identified based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D.

The report covers and analyzes the global smart signaling market. Various strategies, such as joint ventures, partnerships, collaborations, and contracts, have been considered. In addition, as customers are in search of better solutions, there will be likely an increase in the number of strategic partnerships, mergers, and acquisitions during the forecast period. For instance, in 2018, Cisco invested $1 million in the smart city initiative for Adelaide, Australia, in partnership with the Government of South Australia to reduce traffic congestion and create the substructure for the deployment of autonomous vehicles.
The report includes the complete insight of the industry and aims to provide an opportunity for the emerging and established players to understand the market trends, current scenario, initiatives taken by the government, and the latest technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.

Benefits
The report provides an in-depth analysis of the global smart signaling market aiming to reduce time to market for products and services, reduce operational cost, reduce congestion, improve real-time monitoring, and operational performance. The report provides details about software, hardware, services, and regions. Further, the report also provides details about the major challenges impacting the market growth.

1 Industry Outlook 7
1.1 Industry Overview 7
1.2 Industry Trends 7
2 Report Outline 10
2.1 Report Scope 10
2.2 Report Summary 10
2.3 Research Methodology 11
2.4 Report Assumptions 12
3 Market Snapshot 13
3.1 Total Addressable Market (TAM) 13
3.2 Segmented Addressable Market (SAM) 14
3.3 Related Markets 15
4 Market Outlook 17
4.1 Overview 17
4.2 Market Trends and Impact 18
4.3 Market Segmentation 19
5 Market Characteristics 21
5.1 Ecosystem 21
5.2 Market Dynamics 21
5.2.1 Drivers 23
5.2.1.1 Necessity to reduce traffic congestion 23
5.2.1.2 Increased investments in road infrastructure development 23
5.2.1.3 Increase in road accidents/fatality rate 23
5.2.2 Restraints 24
5.2.2.1 High cost and uncertain efficacy 24
5.2.2.2 Testing the effectiveness of smart signaling 24
5.2.3 Opportunities 25
5.2.3.1 Smart city initiatives 25
5.2.3.2 Growing urbanization 25
5.2.3.3 Increasing mobility and associated demand for transportation systems 25
5.2.4 DRO – Impact Analysis 27
6 Hardware: Market Size & Analysis 28
6.1 Overview 28
6.2 Sensors 29
6.3 Camera 30
6.4 Others 31
7 Software: Market Size & Analysis 33
7.1 Overview 33
7.2 Computer vision 35
7.3 Traffic data analytics 36
7.4 Data Management 37
8 Services: Market Size & Analysis 38
8.1 Overview 38
8.2 Deployment & integration 39
8.3 Support & Maintenance 40
9 Regions 42
9.1 Overview 42
9.2 North America 43
9.2.1 Market Size and Analysis 44
9.2.2 DRO For America 44
9.3 Europe 46
9.3.1 Market Size and Analysis 46
9.3.2 DRO For Europe 47
9.4 Asia Pacific 48
9.4.1 Market Size and Analysis 49
9.4.2 DRO For Asia Pacific 49
9.5 MEA 51
9.5.1 Market Size and Analysis 51
9.5.2 DRO for MEA 52
9.6 Latin America 53
9.6.1 Market Size and Analysis 53
9.6.2 DRO for Latin America 54
10 Vendor Profiles 56
10.1 General Electric 56
10.1.1 Overview 56
10.1.2 Business Units 57
10.1.3 Geographic Revenue 59
10.1.4 Business Focus 60
10.1.5 SWOT Analysis 60
10.1.6 Business Strategies 61
10.2 Siemens AG 62
10.2.1 Overview 62
10.2.2 Business Units 63
10.2.3 Geographic Revenue 64
10.2.4 Business Focus 65
10.2.5 SWOT Analysis 65
10.2.6 Business Strategies 66
11 Companies to watch for 67
11.1 Onnyx 67
11.1.1 Overview 67
11.2 Rapid flow technologies LLC. 67
11.2.1 Overview 67
11.3 Trafficware 68
11.3.1 Overview 68
11.4 Rhythm Engineering 68
11.4.1 Overview 68
11.5 SWARCO AG 69
11.5.1 Overview 69
11.6 Redflex Holdings 70
11.6.1 Overview 70
11.7 Econolite 70
11.7.1 Overview 70
11.8 Jenoptik 71
11.8.1 Overview 71
12 Competitive Landscape 72
Annexure 73
Acronyms 73


List Of Tables

TABLE 1 SMART SIGNALING MARKET REVENUE BY HARDWARE, 2017-2024 ($MILLION) 28
TABLE 2 SMART SIGNALING REVENUE BY SOFTWARE, 2017-2024 ($MILLION) 33
TABLE 3 SMART SIGNALING MARKET REVENUE BY SERVICE, 2017-2024 ($MILLION) 38
TABLE 4 SMART SIGNALING MARKET REVENUE BY REGIONS, 2017-2024 ($MILLION) 42
TABLE 5 DRO FOR AMERICA 43
TABLE 6 NORTH AMERICA MARKET REVENUE BY HARDWARE 2017-2024 ($MILLION) 44
TABLE 7 NORTH AMERICA MARKET REVENUE BY SOFTWARE 2017-2024 ($MILLION) 44
TABLE 8 NORTH AMERICA MARKET REVENUE BY SERVICE 2017-2024 ($MILLION) 44
TABLE 9 DRO FOR EUROPE 46
TABLE 10 EUROPE MARKET REVENUE BY HARDWARE 2017-2024 ($MILLION) 46
TABLE 11 EUROPE MARKET REVENUE BY SOFTWARE 2017-2024 ($MILLION) 46
TABLE 12 EUROPE MARKET REVENUE BY SERVICES 2017-2024 ($MILLION) 47
TABLE 13 DRO FOR ASIA PACIFIC 48
TABLE 14 ASIA PACIFIC MARKET REVENUE BY HARDWARE 2017-2024 ($MILLION) 48
TABLE 15 ASIA PACIFIC MARKET REVENUE BY SOFTWARE 2017-2024 ($MILLION) 49
TABLE 16 ASIA PACIFIC MARKET REVENUE BY SERVICES 2017-2024 ($MILLION) 49
TABLE 17 DRO FOR MEA 51
TABLE 18 MEA MARKET REVENUE BY HARDWARE 2017-2024 ($MILLION) 51
TABLE 19 MEA MARKET REVENUE BY SOFTWARE 2017-2024 ($MILLION) 51
TABLE 20 MEA MARKET REVENUE BY SERVICE 2017-2024 ($MILLION) 52
TABLE 21 DRO FOR LATIN AMERICA 53
TABLE 22 LATIN AMERICA MARKET REVENUE BY HARDWARE 2017-2024 ($MILLION) 53
TABLE 23 LATIN AMERICA MARKET REVENUE BY SOFTWARE 2017-2024 ($MILLION) 54
TABLE 24 LATIN AMERICA MARKET REVENUE BY SERVICES 2017-2024 ($MILLION) 54
TABLE 25 ONNYX: SNAPSHOT 66
TABLE 26 RAPID FLOW TECHNOLOGIES LLC.: SNAPSHOT 67
TABLE 27 TRAFFICWARE: SNAPSHOT 67
TABLE 28 RHYTHM ENGINEERING: SNAPSHOT 68
TABLE 29 SWARCO AG: SNAPSHOT 68
TABLE 30 REDFLEX HOLDINGS: SNAPSHOT 69
TABLE 31 ECONOLITE: SNAPSHOT 69
TABLE 32 JENOPTIK: SNAPSHOT 70


List Of Figures


CHART 1 RESEARCH METHODOLOGY 11
CHART 2 TRAFFIC MANAGEMENT MARKET REVENUE, 2017-2024 ($BILLION) 13
CHART 3 SMART SIGNALING MARKET REVENUE, 2017-2024 ($MILLION) 15
CHART 4 SMART SIGNALING MARKET SEGMENTATION 19
CHART 5 ECOSYSTEM OF SMART SIGNALING 21
CHART 6 MARKET DYNAMICS – DRIVERS, RESTRAINTS & OPPORTUNITIES 21
CHART 7 DRO - IMPACT ANALYSIS OF SMART SIGNALING MARKET 26
CHART 8 SMART SIGNALING MARKET SHARE BY HARDWARE 2017 AND 2024 27
CHART 9 SMART SIGNALING MARKET BY HARDWARE 2017-2024 ($MILLION) 27
CHART 10 SENSORS IN SMART SIGNALING REVENUE 2017-2024 ($ MILLION) 29
CHART 11 CAMERA IN SMART SIGNALING REVENUE 2017-2024 ($MILLION) 30
CHART 12 OTHERS IN SMART SIGNALING MARKET REVENUE, 2017-2024 ($BILLION) 31
CHART 13 SMART SIGNALING MARKET SHARE BY SOFTWARE 2017 AND 2024 32
CHART 14 SMART SIGNALING MARKET BY SOFTWARE 2017-2024 ($MILLION) 32
CHART 15 COMPUTER VISON IN SMART SIGNALING MARKET REVENUE, 2017-2024 ($MILLION) 34
CHART 16 TRAFFIC DATA ANALYTICS IN SMART ANALYTICS MARKET REVENUE, 2017-2024 ($MILLION) 35
CHART 17 DATA MANAGEMENT TOOLS IN SMART SIGNALING MARKET REVENUE, 2017-2024 ($MILLION) 36
CHART 18 SMART SIGNALING MARKET SHARE BY SERVICES 2017 AND 2024 37
CHART 19 SMART SIGNALING MARKET BY SERVICES 2017-2024 ($ MILLION) 37
CHART 20 DEPLOYMENT & INTEGRATION IN SMART SIGNALING MARKET REVENUE, 2017-2024 ($MILLION) 39
CHART 21 SUPPORT & MAINTENANCE IN SMART SIGNALING MARKET REVENUE, 2017-2024 ($MILLION) 39
CHART 22 SMART SIGNALING MARKET SHARE BY REGIONS, 2017 AND 2024 41
CHART 23 SMART SIGNALING MARKET BY REGIONS 2017-2024 ($MILLION) 41
CHART 24 NORTH AMERICA MARKET REVENUE, 2017-2024 ($MILLION) 43
CHART 25 EUROPE MARKET REVENUE, 2017-2024 ($MILLION) 45
CHART 26 ASIA PACIFIC MARKET REVENUE, 2017-2024 ($MILLION) 48
CHART 27 MEA MARKET REVENUE, 2017-2024 ($MILLION) 50
CHART 28 LATIN AMERICA MARKET REVENUE, 2017-2024 ($MILLION) 52
CHART 29 GENERAL ELECTRIC: OVERVIEW SNAPSHOT 55
CHART 30 GENERAL ELECTRIC: BUSINESS UNITS 56
CHART 31 GENERAL ELECTRIC: GEOGRAPHIC REVENUE 58
CHART 32 GENERAL ELECTRIC: SWOT ANALYSIS 59
CHART 33 SIEMENS AG: OVERVIEW SNAPSHOT 61
CHART 34 SIEMENS AG: BUSINESS UNITS 62
CHART 35 SIEMENS AG: GEOGRAPHIC REVENUE 63
CHART 36 SIEMENS AG: SWOT ANALYSIS 64


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