Traffic Signs Market Insights, New Project Investment and Potential Growth Scope

Traffic signs are placed at the side of or above roads to give instructions or provide information to road users, they communicate the basic rules and regulations of the road through simple graphics. The global traffic signs market is expected to grow by US$ 356.60 million during 2020 to 2024. The global traffic signs market is segmented into six regions, such as North America, South America, Asia Pacific, Europe, the Middle East, and Africa.
 
The increasing investments in road infrastructure will be one of the major factor fueling the global traffic signs market growth. Enhancement in traffic signs and adoption of new technologies is also expected to aid in the market growth. For instance, in 2018, Singapore has deployed Smart traffic management, a system used to regulate city traffic, it uses sensors and traffic signals to control, respond and monitor to traffic conditions. Moreover, Intelligent transport systems (ITS), an umbrella term to describe systems that ease the processes of traffic and driving through automation, have evolved to include traffic recognition systems (TSR), which enable automatic traffic signs detection and recognition. Thus, these factors are expected to fuel the global traffic signs market growth.
 
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Restraints:
High investments in designing, installation, deployment and advanced traffic sign systems might hinder the market growth.
 
Regional Insights:
North America is expected to witness robust growth in the global traffic signs market due to increasing demand for Advanced Driver Assistance Systems (ADAS) features in commercial and passenger vehicles and rising vehicle safety regulations. Moreover, Europe is also expected to witness market growth in forecast period due to increasing rules and regulations, increasing demand for integrated connected systems in vehicles, rising of automation of vehicles, and development in sensor based technology. For instance, in March 2019, SWARCO teamed up with SRL to provide trailer VMS (Variable Message Sign) to the United Kingdom. SRL will manage the signs through Swarco’s intelligent Zephyr software solution that enables messages to be set from anywhere and at any time, remotely.
 
Competitive Section:
Major players operating in the global traffic signs market are Haowei Traffic, Shanghai Luhao, Novelis, Changeda Traffic, Traffic Tech, 3M, Elderlee, William Smith, Traffic Signs NZ, USA Traffic Signs, Traffic Signs & Safety, Feiyao Jiao Tong, Rennicks, Traffic Solutions Corporation, RAI Products, Swarco Traffic, McCain, Lacroix Group, Schwab Label Factory, Segnaletica, and Lyle Signs.
 
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