Traffic Sensor Global Market – Overview
The global traffic sensor market is showing immense growth; mainly due to the increasing demand for real-time information systems and growing urbanization are the major factors responsible for driving the growth of traffic sensor market. Growing need for real time monitoring systems in order to gain information related to traffic for real time analytics is one major factor driving the growth of traffic sensor market. Technological advancements have played a major role in the development of traffic sensor market. Steep increase in the adoption of traffic sensor solutions and software is one major factor driving the growth of traffic sensor market.
Kapsch TrafficCom AG, International Road Dynamics, Inc., FLIR Systems, Inc., TE Connectivity Ltd., Kistler Group, SWARCO AG, and SICK AG are the major investors in the traffic sensor market. Growing urbanization and population is another major factor driving the growth of traffic sensor market. Also, increasing government initiatives to modify transport infrastructure is responsible for driving the growth of the market. Moreover, increasing adoption of analytics based transport solutions is expected to drive the growth of Traffic Sensor Market.
By application, the traffic monitoring application segment is expected to hold the largest market share of the global traffic sensor market. This is owing to the increasing demand for real-time monitoring of specific situations and road areas such as toll highways and bridges. Traffic monitoring seamlessly allows real time monitoring of such situations and also provides information about road mobility and traffic in order to enhance road safety. According to a recent study report published by Market Research Future, the global market of Traffic Sensor is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023).
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Key Players
The prominent players in the Global Traffic Sensor Market are – TE Connectivity Ltd. (Switzerland), Kistler Group (Switzerland), SWARCO AG (Austria), Sick AG (Germany), LeddarTech Inc. (Canada), Siemens AG (Germany) , International Road Dynamics, Inc. (Canada), FLIR Systems, Inc. (U.S.), Axis Communication AB (Sweden), Raytheon Company (U.S.), Sensys Networks, Inc. (U.S.) and among others.
Segments:
The global traffic sensor market has been segmented on the basis of technology, sensors type, applications, and region.
Global Traffic Sensor Market by Technology:
- RFID
- 3D/2D
- GSM
- Others
Global Traffic Sensor Market by Sensors Type:
- LiDAR sensors
- Radar sensors
- Magnetic sensors
- Piezoelectric sensors
- Image sensors
- Others
Global Traffic Sensor Market by Applications:
- Laser measurement systems
- Electronic Toll Collection System
- Hot spot detection system
- Road tunnel sensors system
- Others
Global Traffic Sensor Market by Regions:
- North America
- Europe
- APAC
- Rest of the World
Traffic Sensor Global Market – Regional Analysis
The regional analysis of traffic sensor market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. North America is one of the leading region across the world in terms of largest market share in traffic sensor market owing to the government investments in the production of different types of sensors including magnetic sensors, piezoelectric sensors, image sensors, and the expansion by key traffic sensor manufacturers.The traffic sensor market in Europe region is expected to witness rapid growth in the forthcoming period. Whereas, Asia-Pacific countries like China, Japan and South Korea is an emerging market for traffic sensor market and expected to be the highest CAGR in the coming years.
Industry News
September 2017 – SWARCO Parking & eMobility UK has been awarded official Go Ultra Low Company status. The award is recognised for its commitment to sustainability reflected in its current and future plans for the use of electric vehicles (EVs) in its fleet. The company specializes in development of solutions for the safe management and access of vehicles and people in SMART cities and environments.
February 2018 – Atlanta Streetcar will take on predictive maintenance under the partnership with Siemens. Streetcar maintenance will provide transition from corrective to preventative with the use of a digital platform to analyse and gather data in order to predict the problems. This data analysis will help the company in reducing costs and preventing service interruptions and hence will improve the streetcar availability.
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Intended Audience
- Traffic Sensor manufacturing companies
- Product sales and distribution companies
- Government regulatory authorities
- Semiconductor companies
- Traffic sensor providers
- Research and development companies
- Market research and consulting firms
- Solution providers
- Technology standards organizations
- Technology investors
- System Integrators
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