North America Adaptive Traffic Control System Market Forecast to 2030
North America Adaptive Traffic Control System Market Forecast to 2030 – Regional Analysis – by Type (Hardware, Software, and Services), Component (OPAC, SCOOT, RHODES, and SCATS), and Application [Highways and Urban (Cities)]
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Description
Increasing Urban Population and Vehicle Sales Fuels North America Adaptive Traffic Control System Market
The world’s population has increased more than three times than it was in the mid-twentieth century, which is increasing the migration of people from rural to urban areas for better jobs and lifestyles. According to the United Nations Organization, 55% of the world’s population lives in urban areas. It is seen that largest city of Mexico City (~22 million inhabitants). The growing urban population puts high stress on the roadways, raising traffic congestion in urban cities. Also, the growing urban population has raised the demand for ride-hailing services from cab aggregators such as Uber, Grab, Ola, and Lyft, simultaneously surging the number of vehicles on the road, leading to traffic congestion. The growing urbanization has also led to the growth of e-commerce and on-demand platforms, leading to the growth of traffic in various urban areas, increasing the demand for adaptive traffic control systems to manage the traffic flow.
The sales of vehicles are increasing tremendously. According to the International Organization of Motor Vehicle Manufacturers (OICA), in the US, vehicle sales jumped from 14,881,356 in 2020 to 15,408,565 in 2021. Thus, the growing urbanization and vehicle sales, which raise traffic congestion, propel the demand for adaptive traffic control system installations for traffic management.
North America Adaptive Traffic Control System Market Overview
The North America adaptive traffic control system market is segmented into the US, Canada, and Mexico. Technological advancements have led to a highly competitive market in the region with the rising incorporation of new technologies due to increased spending power. The adoption rate of new technologies also supports the development of urban cities, which emphasizes the development of urban planning systems and smart cities. Governments of various countries in the region have announced their primary plans for infrastructural development that support the development of vehicular networks. There is a strong presence of companies that are integrating adaptive traffic control systems with advanced technologies to ease traffic congestion. Some of these companies are Cubic Transportation Systems Inc, Miovision Technologies Inc, Rhythm Engineering Inc, Miovision Technologies Inc, Kimley-Horn and Associates Inc, and Econolite Group Inc.
North America Adaptive Traffic Control System Market Revenue and Forecast to 2030 (US$ Million)
North America Adaptive Traffic Control System Market Segmentation
The North America adaptive traffic control system market is segmented into type, component, application, and country.
Based on type, the North America adaptive traffic control system market is segmented into hardware, software, and services. The software segment accounted the largest share of the North America adaptive traffic control system market in 2022.
Based on component, the North America adaptive traffic control system market is divided into OPAC, SCOOT, RHODES, and SCATS. The SCATS segment held the largest share of the North America adaptive traffic control system market in 2022.
Based on application, the North America adaptive traffic control system market is bifurcated into highways and urban (cities). The urban (cities) segment accounted a larger share of the North America adaptive traffic control system market in 2022.
Based on country, the North America adaptive traffic control system market is segmented into the US, Canada, and Mexico. The US dominated the North America adaptive traffic control system market in 2022.
Aldridge Traffic Controllers Pty Ltd, Cubic Transportation Systems Inc, Econolite Group Inc, Johnson Controls International Plc, Kapsch TrafficCom AG, Kimley-Horn and Associates Inc, Miovision Technologies Inc, No Traffic, Q-Free ASA, and Rhythm Engineering Inc are some of the leading companies operating in the North America adaptive traffic control system market.
Summary Info
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According to the research team Market research, the North America adaptive traffic control system market was valued at US$ 2,078.58 million in 2022 and is expected to reach US$ 8,391.82 million by 2030 registering a CAGR of 19.1% from 2022 to 2030. Increasing urban population and vehicle sales and growing investment in roadway infrastructure are the critical factors attributed to the North America adaptive traffic control system market expansion.
The demand for better transportation facilities, such as better road conditions, smooth traffic flow, and connectivity between different areas, is rising worldwide due to the increasing population. As a result, the government authorities of different countries are focusing on developing their road infrastructure. The government of Ontario announced an investment of ~US$ 3 billion to repair and expand provincial highways and bridges from April 2022 to March 2023. Almost US$ 1.7 billion was used in southern Ontario and around US$ 624 million in northern Ontario to repair and expand highways and bridges. Growing investments in roadway infrastructure raises the need to implement adaptive traffic control systems to improve traffic flow and enhance vehicular safety. Thus, the rising expenditure on infrastructure is increasing the need for passenger and driver safety bolster the growth of the North America adaptive traffic control system market.
On the contrary, increasing security threats hampers the North America adaptive traffic control system market.
Based on type, the North America adaptive traffic control system market is segmented into hardware, software, and services. The software segment held 56.3% share of North America adaptive traffic control system market in 2022, amassing US$ 1,170.56 million. It is projected to garner US$ 5,219.40 million by 2030 to expand at 20.5% CAGR during 2022–2030.
Based on component, the North America adaptive traffic control system market is divided into OPAC, SCOOT, RHODES, and SCATS. The SCATS segment held 44.1% share of North America adaptive traffic control system market in 2022, amassing US$ 917.19 million. It is projected to garner US$ 3,676.80 million by 2030 to expand at 19.0% CAGR during 2022–2030.
Based on application, the North America adaptive traffic control system market is bifurcated into highways and urban (cities). The urban (cities) segment held 71.5% share of North America adaptive traffic control system market in 2022, amassing US$ 1,486.28 million. It is projected to garner US$ 6,218.44 million by 2030 to expand at 19.6% CAGR during 2022–2030.
Based on country, the North America adaptive traffic control system market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 69.4% share of North America adaptive traffic control system market in 2022. It was assessed at US$ 1,442.94 million in 2022 and is likely to hit US$ 5,617.48 million by 2030 exhibiting a CAGR of 18.5% during 2022–2030.
Key players operating in the North America adaptive traffic control system market are Aldridge Traffic Controllers Pty Ltd, Cubic Transportation Systems Inc, Econolite Group Inc, Johnson Controls International Plc, Kapsch TrafficCom AG, Kimley-Horn and Associates Inc, Miovision Technologies Inc, No Traffic, Q-Free ASA, and Rhythm Engineering Inc, among others.
o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America adaptive traffic control system market.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in North America adaptive traffic control system market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Research Team Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Adaptive Traffic Control System Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. North America Adaptive Traffic Control System Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Urban Population and Vehicle Sales
5.1.2 Growing Investments in Roadway Infrastructure
5.2 Market Restraints
5.2.1 Increasing Security Threats
5.3 Market Opportunities
5.3.1 Development of Smart Cities
5.4 Future Trends
5.4.1 Growing Adoption of AI in Traffic Management Systems
5.5 Impact Analysis of Drivers and Restraints
6. Adaptive Traffic Control System Market – North America Market Analysis
6.1 North America Adaptive Traffic Control System Market Overview
6.2 North America Adaptive Traffic Control System Market Forecast and Analysis
7. North America Adaptive Traffic Control System Market Revenue and Forecast to 2030 – Component
7.1 Overview
7.2 North America Adaptive Traffic Control System Market Breakdown, By Component, 2022 and 2030
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: North America Adaptive Traffic Control System Market- Forecast and Analysis
7.4 Software
7.4.1 Overview
7.4.2 Software: North America Adaptive Traffic Control System Market- Forecast and Analysis
7.5 Services
7.5.1 Overview
7.5.2 Services: North America Adaptive Traffic Control System Market- Forecast and Analysis
8. North America Adaptive Traffic Control System Market Analysis – By Type
8.1 Overview
8.2 North America Adaptive Traffic Control System Market Breakdown, by Type, 2022 and 2030
8.3 OPAC
8.3.1 Overview
8.3.2 OPAC: North America Adaptive Traffic Control System Market- Forecast and Analysis
8.4 SCOOT
8.4.1 Overview
8.4.2 SCOOT: North America Adaptive Traffic Control System Market- Forecast and Analysis
8.5 RHODES
8.5.1 Overview
8.5.2 RHODES: North America Adaptive Traffic Control System Market- Forecast and Analysis
8.6 SCATS
8.6.1 Overview
8.6.2 SCATS: North America Adaptive Traffic Control System Market- Forecast and Analysis
9. North America Adaptive Traffic Control System Market Revenue and Forecast to 2030 – Application
9.1 Overview
9.2 North America Adaptive Traffic Control System Market Breakdown, by Application, 2022 and 2030
9.3 Highways
9.3.1 Overview
9.3.2 Highways: North America Adaptive Traffic Control System Market- Forecast and Analysis
9.4 Urban (Cities)
9.4.1 Overview
9.4.2 Urban (Cities): North America Adaptive Traffic Control System Market- Forecast and Analysis
10. North America Adaptive Traffic Control System Market – Country Analysis
10.1 Overview
10.1.1 North America Adaptive Traffic Control System Market, by Key Country
10.1.1.1 US: North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
10.1.1.1.1 US: North America Adaptive Traffic Control System Market- Forecast and Analysis
10.1.1.1.2 US: North America Adaptive Traffic Control System Market, by Type
10.1.1.1.3 US: North America Adaptive Traffic Control System Market- Forecast and Analysis
10.1.1.2 Canada: North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
10.1.1.2.1 Canada: North America Adaptive Traffic Control System Market- Forecast and Analysis
10.1.1.2.2 Canada: North America Adaptive Traffic Control System Market, by Type
10.1.1.2.3 Canada: North America Adaptive Traffic Control System Market- Forecast and Analysis
10.1.1.3 Mexico: North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
10.1.1.3.1 Mexico: North America Adaptive Traffic Control System Market- Forecast and Analysis
10.1.1.3.2 Mexico: North America Adaptive Traffic Control System Market, by Type
10.1.1.3.3 Mexico: North America Adaptive Traffic Control System Market- Forecast and Analysis
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Company Profiles
12.1 Aldridge Traffic Controllers Pty Ltd
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Kapsch TrafficCom AG
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Cubic Transportation Systems Inc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Johnson Controls International Plc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Vivacity Labs Ltd
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Miovision Technologies Inc
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Rhythm Engineering Inc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 No Traffic
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Kimley-Horn and Associates Inc
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Q-Free ASA
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
12.11 Econolite Group Inc
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Products and Services
12.11.4 Financial Overview
12.11.5 SWOT Analysis
12.11.6 Key Developments
13. Appendix
13.1 About Research Team
13.2 Word Index
LIST OF TABLES
Table 1. North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
Table 2. US: North America Adaptive Traffic Control System Market- Forecast and Analysis –Revenue and Forecast to 2030 (US$ Million)
Table 3. US: North America Adaptive Traffic Control System Market, by Type –Revenue and Forecast to 2030 (US$ Million)
Table 4. US: North America Adaptive Traffic Control System Market- Forecast and Analysis –Revenue and Forecast to 2030 (US$ Million)
Table 5. Canada: North America Adaptive Traffic Control System Market- Forecast and Analysis – Revenue and Forecast to 2030 (US$ Million)
Table 6. Canada: North America Adaptive Traffic Control System Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 7. Canada: North America Adaptive Traffic Control System Market- Forecast and Analysis –Revenue and Forecast to 2030 (Canada$ Million)
Table 8. Mexico: North America Adaptive Traffic Control System Market- Forecast and Analysis – Revenue and Forecast to 2030 (US$ Million)
Table 9. Mexico: North America Adaptive Traffic Control System Market, by Type – Revenue and Forecast to 2030 (US$ Million)
Table 10. Mexico: North America Adaptive Traffic Control System Market- Forecast and Analysis –Revenue and Forecast to 2030 (Mexico$ Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Adaptive Traffic Control System Market Segmentation
Figure 2. North America Adaptive Traffic Control System Market Segmentation – By Country
Figure 3. North America Adaptive Traffic Control System Market Overview
Figure 4. North America Adaptive Traffic Control System Market, by Component
Figure 5. North America Adaptive Traffic Control System Market, by Country
Figure 6. North America – PEST Analysis
Figure 7. North America Adaptive Traffic Control System Market, Ecosystem
Figure 8. North America Adaptive Traffic Control System Market: Impact Analysis of Drivers and Restraints
Figure 9. North America Adaptive Traffic Control System Market Forecast and Analysis (US$ Million)
Figure 10. North America Adaptive Traffic Control System Market Breakdown, By Component, 2022 and 2030 (%)
Figure 11. Hardware: North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 12. Software: North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 13. Services: North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 14. North America Adaptive Traffic Control System Market Breakdown, By Type (2022 and 2030)
Figure 15. OPAC: North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. SCOOT: North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. RHODES: North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. SCATS: North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. North America Adaptive Traffic Control System Market Breakdown, by Application, 2022 and 2030 (%)
Figure 20. Highways: North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 21. Urban (Cities): North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 22. North America Adaptive Traffic Control System Market, by Key Country– Revenue (2022) (US$ Million)
Figure 23. North America Adaptive Traffic Control System Market Revenue Share, by Key Country (2022 and 2030)
Figure 24. US: North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 25. Canada: North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 26. Mexico: North America Adaptive Traffic Control System Market – Revenue and Forecast to 2030 (US$ Million)
The List of Companies – North America Adaptive Traffic Control System Market
o Aldridge Traffic Controllers Pty Ltd
o Cubic Transportation Systems Inc
o Econolite Group Inc
o Johnson Controls International Plc
o Kapsch TrafficCom AG
o Kimley-Horn and Associates Inc
o Miovision Technologies Inc
o No Traffic
o Q-Free ASA
o Rhythm Engineering Inc
o Vivacity Labs Ltd
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