India LED Traffic Signs And Signals Market Urbanizations and Road Infrastructure Development to Boost the Overall Market's Sales Outlook

According to Precision Business Insights (PBI), the latest report published on India LED Traffic Signs And Signals Market demand to reach around USD 66.6 Mn by the end of 2029. Increase in the road construction activities, urbanization, infrastructure development and increase in government spending on modernizing the infrastructure to remain key growth drivers for the market over the coming years. Further replacement of the conventional traffic signals with the LED ones are also key focus of the domestic government to minimize the electricity usage to boost the demand for the market. Key players are intensifying the competition through innovative product offerings with a key focus on sustainability. These companies are launching LED signs and signals with integrated features such as dynamic messaging and energy efficiency, catering to the demand for environment friendly solutions. All these factors are expected to drive the market at a CAGR of 7.4% over the coming forecast period.

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The India LED Traffic Signs And Signals Market Detailed Segmentation:
Based on the type, the market is segmented into the following:
• Signs
• Signals

LED signal segment is evaluated to account for more than four-fifth of the market share in the Indian market. This is due to higher price compared to its counterpart sign segment and higher amount of adaptation in traffic signalling. Rise in the usage of LED signals in urban traffic signalling mostly in the metropolitan cities for smart traffic management and enhancing traffic signal visibility are expected to drive the demand for the signal segment. Integration of LED signals in transportation hub including airports, tier-1 cities, railway stations, and many more to further boost the demand. Increasing road construction and rising adaptation of traffic signalling in the tier-2 cities to further boost the demand for LED signals in India. Market growth is also expected to be fuel by government initiatives promoting smart city projects and traffic management systems.

Based on the product type, the market is segmented into the following:
• Flashing
• Non-flashing

Non-flashing segment in a major segment based on product type for the market of LED signs and signals in India. The segment is projected to witness a growth outlook of 7.6% over the coming five years. This domination of the non-flashing segment is owing to their widespread use in routine traffic management infrastructure and higher preference for the traffic management, significantly adopted in the signalling segment and sometimes in LED signs. The segment is further anticipated to create around US$ 18.3 Mn of absolute dollar opportunities over the coming forecast period. Further potential in the segment lies on the integration of non-flashing LED signs and signals with smart city initiatives, offering real-time traffic information and congestion management. Further development of advanced non-flashing LED sign with features like variable messaging for dynamic traffic management to create lucrative opportunities.

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Based on the power source, the market is segmented into the following:
• Electric Power
• Solar Energy

Solar energy segment is forecast to witness a faster CAGR in comparison to its counterpart electric power segment in the LED sign and signals market in India owing to focus on renewable energy source. Solar energy segment to witness around 7.9% CAGR during the forecast period and is further projected to witness around 50 bps points hike in the market share by the end of the assessment period. Solar-powered LED signs and signals segment are gaining traction in the country owing to implementation of several renewable projects by the domestic government, particularly in rural and remote areas with limited access to electricity infrastructure and also of its adaptation in the road infrastructure projects in urban areas. Further rise in awareness of renewable energy solutions as well as government incentives promoting solar adoption in the country are also fuelling the demand for the segment.

Based on the application, the market is segregated as:
• Railway
• Airport
• Urban Traffic
• Others

Based on applications, airport segment to witness a rise in 70 bps point in the market share by the end of the forecast period in the overall market owing to higher rate of adaptation of LED signs and signals as well as significant rise in construction of several airport construction in the country. Further the segment is estimated to create 80 bps points of higher demand on an yearly basis for LED signs and signals in India in comparison to the overall demand generation. Airport applications for LED sign and signals represents an emerging market segment in India, driven by the expansion of air transportation infrastructure and increasing emphasis on passenger safety and navigation. Rise in the manufacturing of customized LED signs and signals for airport applications to further benefit growth of the airport segmentation.

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Strategic Expansion, Mergers, Collaborations, and Agreements are the key Strategies Adopted by Market Players:
Key players in the market are focusing on securing of the deal launched by government for the sales of LED signs and signals. Key players are mainly enhancing their market presence through marketing strategies including showing their presence through media, partnerships with the contractors and many more. These strategies are adopted to gain market traction and to increase their sales. With rise in the market size, leading players are expected to invest in backward chain integration by acquiring market players associated in the value chain to reduce cost of production and to gain the market share.

The leading players in the India LED Traffic Signs And Signals Market are Envoys Electronics Pvt. Ltd., Trafitronics India Private Limited, Envy Electronics Pvt. Ltd., Nucleonics Traffic, Equipmentts Private Limited, Microtrans Infratech Limited, Nikhil Infra, Utkarsh India Limited, Variant Infratech Private Limited, Osho Automation Private Limited and Pyrotech.

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This release was published on openPR.