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The Canada - traffic control services market size is estimated to grow at a CAGR of 7.44% between 2023 and 2028. The market size is forecast to increase by USD 784.58 million. The market's growth depends on several factors such as the growing demand for organizing traffic movement, the increasing construction activities, and the increasing focus on the development of road infrastructure.
The report includes a comprehensive outlook on the Canada Traffic Control Services Market, offering forecasts for the industry segmented by Application, which comprises highway, street, and others. Additionally, it categorizes Type into event safety, traffic pacing, advanced warning sign installation, traffic control drawings, and others, and covers Area, including urban, rural, and others. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
Canada Traffic Control Services Market Forecast 2024-2028
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Urbanization and population growth have led to raised vehicular density, resulting in heightened traffic congestion. To address this, efficient traffic control is essential for keeping a smooth flow and minimizing uncertainties. As roads remain the country's primary mode of transportation, improved traffic flow regulations are being considered for the economic development of Canada by contributing to the movement of goods from the point of production to the point of consumption and providing access to education, employment, and health.
Moreover, traffic control services help commuters safely navigate intersections and uphold the orderly flow of traffic in a direction. Traffic delays and conflicts between vehicles entering junctions from various directions result in safety regulations and proper traffic flow regulations by regional and national authorities. Thus, the growing demand to organize traffic movement will propel the growth of the market during the forecast period.
Rapid urbanization is taking place in Canada because of the high pace of natural population growth. Industrialization, commercialization, the transition from rural to urban areas, changes in lifestyle, employment opportunities, social advantages, etc., are the key reasons for urbanization. In addition, heavy traffic conditions are a result of an upsurge in the number of vehicles on the road brought on by steady industrialization and the expanding urban population.
Furthermore, mitigation has been given top priority by the majority of regional organizations responsible for developing and managing urban infrastructure. Thus, growing traffic congestion will increase the demand for better traffic control services, which, in turn, will boost the growth of the market during the forecast period.
Insufficient funding can limit the hiring and training of skilled traffic control personnel, leading to a shortage of qualified workers to manage traffic flow, respond to incidents, and implement traffic safety measures. Also, outdated equipment and technology may continue to be used due to budgetary constraints, hindering the effectiveness of traffic management efforts.
In addition, traffic control providers may not be able to afford to invest in new technologies, such as intelligent transportation systems (ITS) and artificial intelligence (AI), which could slow the progress of traffic management innovation. Traffic control providers may not be able to expand their services to meet the growing demand in areas experiencing rapid urbanization or increased traffic volume, which could lead to underserved communities and inadequate traffic management. Thus, such factors may impede market growth during the forecast period.
The highway segment will account for a major market growth share during the forecast period.?Vast highway construction and maintenance projects are prevailing across Canada. Traffic control services are important during these projects to manage lane closures and detours and ensure the safe flow of traffic. The growing number of vehicles on the road and rising road accidents in Canada, particularly on the highways owing to the speeding of vehicles, increased the demand for traffic control services on highways.
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The highway segment was valued at USD 737.28 million in 2018. Population growth and urbanization in Canada are further contributing to increased traffic volume on highways. As traffic congestion becomes a common issue, efficient traffic control services are crucial for managing flow, lowering bottlenecks, and enhancing overall highway safety. Dynamic solutions, such as real-time monitoring and adaptive traffic control, are increasingly being employed to address these challenges. Thus, such factors will drive the growth of the Canada - traffic control services market through the highway segment during the forecast period.
Based on type, the market has been segmented into event safety, traffic pacing, advanced warning sign installation, traffic control drawings, and others. The event safety?segment will account for the largest share of this segment.?Events, varying from concerts and festivals to sporting events and parades, require meticulous traffic management to ensure the safety of attendees, participants, and the general public. As the scale and frequency of events increase, so does the need for comprehensive traffic control services. Additionally, public expectations for safety at events have risen, prompting organizers to invest in robust traffic control services. An increasing number of events in the future are expected to increase the demand for traffic control services in Canada. Consequently, the rising demand for traffic control services for event safety will drive the growth of the market through the event safety segment during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
ATS Traffic, Barricade Traffic Services Inc., Cellint Traffic Solutions Ltd., Cisco Systems Inc., GardaWorld Security Corp., International Business Machines Corp., JSK Traffic Control Services, Kapsch TrafficCom AG, LG Electronics Inc., Miovision Technologies Inc., Q Free ASA, Ramudden Global group AB, Siemens AG, SWARCO AG, The Universal Group, Traffic Control Services, Triumph Traffic, United Traffic Control Services, and Vancouver Security Co.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The Canada traffic control services market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Canada Traffic Control Services Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.44% |
Market Growth 2024-2028 |
USD 784.58 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.02 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., ATS Traffic, Barricade Traffic Services Inc., Cellint Traffic Solutions Ltd., Cisco Systems Inc., GardaWorld Security Corp., International Business Machines Corp., JSK Traffic Control Services, Kapsch TrafficCom AG, LG Electronics Inc., Miovision Technologies Inc., Q Free ASA, Ramudden Global group AB, Siemens AG, SWARCO AG, The Universal Group, Traffic Control Services, Triumph Traffic, United Traffic Control Services, and Vancouver Security Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Market Segmentation by Area
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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