Smart Signaling Market Size

Smart Signaling Market size was valued at USD 650.03 million in 2024 and is expected to reach USD 63.76 billion by 2037, registering around 42.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of smart signaling is assessed at USD 883.75 million.

The growth of the market can be attributed to the rapid rate of urbanization in developing countries, increasing demographic growth and growing demand to control problems such as traffic congestion. Along with these, as a result of the surge in the number of road accidents, governments on a world level have taken several initiatives to ensure the safety of passengers on the road, which in turn is anticipated to boost the demand for smart signaling systems in the upcoming years. According to the World Health Organization, 1.3 million people die every year as a result of road accidents. These crashes cost almost 3% of the total GDP of most of the countries. In addition, rising technological advancements associated with the automation of signaling devices by utilizing artificial intelligence (AI) is expected to offer ample growth opportunities to the smart signaling market in the near future.