Global Light-Emitting Diode Traffic Signs and Signals Market Report, History and Forecast 2020-2024, Breakdown Data by Manufacturers, Key Regions, and Products | Technavio
Light-Emitting Diode Traffic Signs and Signals Market: Product Landscape
The light-emitting diode traffic signs and signals market is expected to grow by USD 356.63 million, progressing at a CAGR of over 8% during the forecast period.
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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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The increasing investments in road infrastructure is one of the major factors propelling market growth. However, factors such as improper installation and malfunctioning of traffic signs and signals will hamper the market growth.
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Light-Emitting Diode Traffic Signs and Signals Market: Product Landscape
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.
Light-Emitting Diode Traffic Signs And Signals Market: Geographic Landscape
North America was the largest LED traffic signs and signals market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. 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. 33% of the market’s growth will originate from North America during 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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Companies Covered:
- 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
- WERMA Signaltechnik GmbH
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, until 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Key Topics Covered:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- LED traffic signals - Market size and forecast 2019-2024
- LED traffic signs - Market size and forecast 2019-2024
- Market opportunity by Product
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- 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
- WERMA Signaltechnik GmbH
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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