Asia Pacific 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)]

Asia Pacific 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)]

The Asia Pacific adaptive traffic control system market is expected to grow from US$ 1,149.86 million in 2022 to US$ 5,470.33 million by 2030. It is estimated to grow at a CAGR of 21.5% from 2022 to 2030.

Development of Smart Cities Fuels Asia Pacific Adaptive Traffic Control System Market

Increasing demand for strong connectivity and developed infrastructure is raising investments in developing smart cities. Smart cities are technologically advanced urban areas which integrate a variety of sensors and electronic solutions which can help to gather data and utilize it for the betterment of the locality. In November 2021, the government of India announced its plan to invest ~US$ 700 billion in its smart city ramp-up plan during 2021–2031. Under this investment, the government will boost its urban infrastructure services, including urban mobility, affordable housing, and water security. Thus, the growing investments by governments in developing smart cities will provide long-term traffic management plans to optimize transportation logistics and reduce congestion, which is expected to raise the demand for adaptive traffic control systems globally.

It is also seen that along with smart cities, various countries are investing in developing smart roadways to provide a safe vehicle commute. Different types of sensors and hardware are deployed in smart roadways which helps to collect multivariate data that can be further used for traffic monitoring. This data can also be shared with vehicles traveling on the road, helping them to make informed decisions. In addition, vehicle manufacturers are also making IoT-enabled vehicles with sensors and devices that can help them gather various data. This vehicle data can be utilized to understand the congestion level at specific road sections, which can be further help to determine the average number of vehicles present at a specific point, and further estimate the traveling time for a vehicle. Based on such data, traffic on different lanes can be maintained, congestion can be predicted and avoided promptly, and the commuting time in urban areas can be lowered by 15–20%. Hence, the growing development of smart cities and increasing adoption smart roadways will provide lucrative opportunities for the growth of the Asia Pacific adaptive traffic control system market during the forecast period.

Asia Pacific Adaptive Traffic Control System Market Overview

The Asia Pacific adaptive traffic control system market is segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. China and India are continuously witnessing population growth, which is creating the need for the construction of roads and highways to efficiently reduce traffic congestion. For instance, in June 2022, the government of China announced its plan to launch 120 new expressways and ordinary national and provincial highway projects, which will cover more than 3,600 km. A total investment of US$ 27.20 billion (182 billion yuan) by the government will be made on these projects. Moreover, rapid urbanization is increasing traffic congestion in the region, specifically in developing countries. According to the United Nations Organization, in 2020, New Delhi and Shanghai had 29 million and 26 million inhabitants, respectively. In addition, the cities such as Mumbai, Beijing, and Dhaka all recorded ~20 million inhabitants in 2020. This growing urban population is raising the need for the installation of superior traffic management solutions to further minimize pollution, which is expected to drive the growth of the Asia Pacific adaptive traffic control system market in the region during the forecast period.

Asia Pacific Adaptive Traffic Control System Market Revenue and Forecast to 2030 (US$ Million)

Asia Pacific Adaptive Traffic Control System Market Segmentation

The Asia Pacific adaptive traffic control system market is segmented into type, component, application, and country.

Based on type, the Asia Pacific adaptive traffic control system market is segmented into hardware, software, and services. The software segment accounted the largest share of the Asia Pacific adaptive traffic control system market in 2022.

Based on component, the Asia Pacific adaptive traffic control system market is divided into OPAC, SCOOT, RHODES, and SCATS. The SCATS segment held the largest share of the Asia Pacific adaptive traffic control system market in 2022.

Based on application, the Asia Pacific adaptive traffic control system market is bifurcated into highways and urban (cities). The urban (cities) segment accounted a larger share of the Asia Pacific adaptive traffic control system market in 2022.

Based on country, the Asia Pacific adaptive traffic control system market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific adaptive traffic control system market in 2022.

Aldridge Traffic Controllers Pty Ltd, Efftronics Systems Pvt Ltd, Trafiksol ITS Technologies Pvt Ltd, Kapsch TrafficCom AG, EFKON India Pvt. Ltd., Johnson Controls International Plc, and Q-Free ASA are some of the leading companies operating in the Asia Pacific adaptive traffic control system market.

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