Press release
Adaptive Traffic Control System Market Size Share Growth Trends and Forecast Analysis
The Adaptive Traffic Control System Market size is expected to grow from US$ 6.37 billion in 2023 to US$ 23.02 billion by 2030; it is estimated to record a CAGR of 19.7% from 2023 to 2030.The growing adoption of AI in traffic control systems is expected to reshape urban transportation across the world. The use of AI will help to reduce traffic congestion, travel time, and pollution. It will also help law enforcement agencies to penalize the offenders, leading to an improvement in road traffic discipline. Integrating AI technology will help combine smart traffic management systems and AI with cameras installed at intersections to detect and identify vehicles disobeying traffic rules. It will generate real-time alerts at the Central Command Center, thus imposing fines on offenders.
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Analysis of the Top Market Players:
1. Aldridge Traffic Controllers Pty Ltd
2. Cubic Transportation Systems Inc
3. Digicon SA
4. Econolite Group Inc
5. Efftronics Systems Pvt Ltd
6. EFKON India Pvt. Ltd.
7. Johnson Controls International Plc
8. Kapsch TrafficCom AG
9. Kimley-Horn and Associates Inc
10. Miovision Technologies Inc
In this report, the market has been segmented on the basis of:
Type (Hardware, Software, and Services)
Component (OPAC, SCOOT, RHODES, and SCATS)
Application [Highways and Urban (Cities)]
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The advanced traffic management systems can also effectively understand and predict congestion at a juncture at a specific time point, survey road conditions, predict congestion on a specific stretch of road, alert emergency services in case of an accident, and suggest the driver of an available parking spot. Thus, owing to the above benefits, various countries' governments are implementing AI-based traffic management systems. In March 2023, the government of India announced the implementation of an AI-powered traffic management system in Goa at Merces junction. The system will help the authorities with signal management, security, and issuing fines. The technology will also automatically detect violations and dispatches an e-challan to the violator's address. Thus, the growing adoption of AI-based traffic control systems is expected to propel the growth of the adaptive traffic control system market during the forecast period.
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