Traffic Sensor Market report for by sensor type (piezoelectric sensor, bending plate, inductive loop, magnetic sensor, acoustic sensor, infrared sensor, image sensor, radar sensor, lidar sensor and thermal sensor), by technology (RFID, 3D/2D, GSM and Others), by appplication (vehicle measurement and profiling, weigh in motion, traffic monitoring and automated tolling (E-Toll), by geography (North America, Europe, Asia Pacific, Middle East & Africa and South America)) is expected to reach US $ XX Bn by 2026, at a CAGR of XX %.
The Radar sensor is expected to grow at a XX % rate of CAGR during the forecast period.
Radar sensors are expected to dominate the traffic sensor market during the forecast period. According to the types of sensors, radar sensors are resilient to lightning and other weather conditions like haze, rain, or cloudy conditions compared to other detection technologies like image sensors. These factors are expected to increase the demand for radar sensors.
The traffic monitoring application segment is expected to hold a significant share in the market.
Traffic monitoring held a significant share in the traffic sensor market in 2018. The traffic monitoring system permits real-time monitoring of specific situations and road areas like toll highways, bridges, and underpasses. The monitoring system consists of dedicated video capturing devices. The systems abstract useful information about road mobility and traffic, which aid to enhance road safety and deliver information to users. The vehicle counting and vehicle motion tracking are the application areas under the traffic monitoring system.
The Asia Pacific region is projected to be the leading region in the market.
Asia Pacific region is projected to hold a significant share owing to the increase in the adoption of technologically-advanced systems. Rapid urban population and the growing requirement for real-time information systems in the region are expected to propel the traffic sensor market growth in the region. The increasing population in developing countries like India, China, Japan, and South Korea is growing the strain on traffic management solutions. This is boosting the governments to invest progressively in smart transportation solutions.
Key players operating in the traffic sensor market includes Raytheon Company , Siemens AG , Sensys Network, Inc., LeddarTech Inc., Image Sensing Systems, Inc. , AGD Systems Ltd., Jenoptik Ag, EFKON AG , Q-Free ASA , SICK AG , Axis Communications AB , Kapsch TrafficCom AG , TransCore , International Road Dynamics, Inc. , Kistler Group , Flir Systems, Inc. , TE Connectivity Ltd., SWARCO AG, Miovision Technologies Inc. and Diablo Controls Inc.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the traffic sensor market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the traffic sensor market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain traffic sensor market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “ Traffic Sensor Market”
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