The global LED traffic signs and signals market is anticipated to grow at a considerable CAGR of 4.2% during the forecast period (2023-2030). The integration of cloud computing is accelerating industry growth, enabling real-time data processing and remote monitoring of traffic signals for efficient traffic management. The combination of Artificial Intelligence (AI) and Machine Learning (ML) algorithms enhances the adaptability of traffic signals to changing traffic patterns, optimizing traffic flow, and reducing congestion. This technological advancement helps to improve the overall effectiveness of traffic management systems along with safety and sustainability. Globally countries are leveraging their extensive road network and intensifying efforts to incorporate AI technology into its transportation systems. This integration aims to enhance expressway efficiency by broadening the application of AI technology, extending beyond urban areas to intercity routes. For instance, Xiangyang became first Chinese city to implement a traffic management system powered by artificial intelligence and internet of vehicles technologies. Based on actual traffic flow, the technology is able to precisely regulate the timing of traffic signals. Additionally, in October 2023, Google applied AI to enhance traffic light efficiency and reduce wait times by analyzing data from its Maps app. The initiative aimed to minimize stops for millions of drivers, contributing to emission reduction.
Browse the full report description of “LED Traffic Signs and Signals Market Size, Share & Trends Analysis Report by Product (Electric Powered and Solar Powered), and by Application (Railway, Airport and Urban Traffic), Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/led-traffic-signs-and-signals-market
Some of the major AI traffic management solutions include, Intelligent Traffic Management System (IMTS), Artificial Intelligence Monitoring System (AIMS), Smart Traffic Management using the Internet of Things (IoT), Intelligent Traffic Congestion Classification System using Artificial Neural Network (ANN) and Intelligent Sensor-based Traffic Signal Management System. Artificial intelligence-based solutions for traffic management have many application which includes identifying and notifying accidents, detecting drivers who are speeding, keeping an eye on traffic, protecting pedestrians crossing the street safely, lowering the need for human intervention in traffic regulation and fine-making, and lowering pollution by minimising the number of vehicles on the road.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Product
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Siemens AG, SWARCO AG, Traffic Technologies Pty Ltd, and others.
Key questions addressed by the report
Global LED Traffic Signs and Signals Market Report Segment
By Product
By Application
Global LED Traffic Signs and Signals Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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