The global light-emitting diode traffic signs and signals market is expected to grow by USD 356.63 million as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 8%.
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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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Read the 120-page report with TOC on "Light-Emitting Diode Traffic Signs and Signals Market Analysis Report by Product (LED traffic signals and LED traffic signs), Geography (North America, Europe, APAC, South America, and MEA), and the Segment Forecasts, 2020-2024".
https://www.technavio.com/report/light-emitting-diode-traffic-signs-and-signals-market-industry-analysis
The market is driven by increased investments in road infrastructure development. In addition, the accelerated adoption of LED traffic lights is anticipated to boost the growth of the light-emitting diode traffic signs and signals market.
Many countries across the world are focusing on the improvement of road infrastructure to allow the expansion of business and provide easy access to markets and suppliers. For instance, developing countries such as India and China are increasing their road transport efficiency by road widening, increasing connectivity, and increasing traffic regulations. In May 2019, the Government of India announced an investment of over USD 17 billion in the construction of roads and highways by 2024. Increasing investments in transport infrastructure will result in regulated traffic flow and reduced accidents and lead to efficient and reliable traveling. These factors will drive the demand for efficient lighting solutions such as LED traffic signs and signals and subsequently, drive market growth.
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Major Five Light-Emitting Diode Traffic Signs and Signals Companies:
Alphatronics NV
Alphatronics NV operates its business through a unified segment. The company offers a line of products such as LED traffic lights that are suitable for all weather conditions.
Econolite
Econolite operates its business through the Unified segment. The company offers a line of products such as 12 inch aluminum vehicle signal, 8 inch poly vehicle signal, 12 inch poly vehicle signal, and 12 inch aluminum pedestrian signal among others.
Federal Signal Corp.
Federal Signal Corp. operates its business through segments such as Environmental Solutions and Safety and Security Systems. The company offers Traffic Storm Lightbars through its subsidiary HighMark. It is a low profile lightbar with ROC Solaris technology and foldable LED sign designed for applications where the signal through a text message or voice is essential.
GE Current a Daintree Co.
GE Current a Daintree Co. operates its business through a unified segment. The company offers a line of products such as GTx Series, DR2 Repeater Signals, GTx LED Signals 230V, and GT1 Arrow Signals -Incandescent Look among others.
Peek Traffic Corp.
Peek Traffic Corp. operates its business through segments such as Data/AVCC Products, Traffic Control, Software, Traffic Signals, and Others. The company offers a line of products such as vehicle signals, pedestrian signals, countdown pedestrian signals, and lenses and visors among others.
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Light-Emitting Diode Traffic Signs and Signals Market Product Outlook (Revenue, USD Million, 2019-2024)
- LED traffic signals
- LED traffic signs
Light-Emitting Diode Traffic Signs and Signals Market Geography Outlook (Revenue, USD Million, 2019-2024)
- North America
- Europe
- APAC
- South America
- MEA
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