Traffic sensors are witnessing a rapid adoption in various parts of the world. They offer a new alternative solution for conventional traffic management systems. Traffic sensors to can help alleviate the growing traffic burden in mega-cities of the world. Governments in various countries across the globe are realizing the need for upgrading their traffic management system, which is opening application opportunities for various advanced traffic management technologies including traffic sensors. Market Research Future (MRFR) in its latest report reveals that the global market for traffic sensor is set to surge at a CAGR of 8% between 2017 and 2023 to reach a valuation in excess of USD 300 Mn.
The rising vehicle parc poses a critical challenge for traffic management authorities all over the world. Therefore, deployment of the best available traffic management solution is imperative. Moreover, governments in countries such as India, China, Mexico and Brazil are stepping up efforts to develop their road transport infrastructure, which is likely to reflect favorably on the traffic sensor market. At the same time, deployment of traffic sensor ensures the optimal utilization of existing roadways. Some of the latest traffic sensors come with additional features that allow operators to effectively manage traffic flow and check discrepancies or law violations. Rapid infrastructural development and growing issues of traffic congestion has propelled the demand for traffic sensors. Using traffic sensors, operators can generate traffic data, identify vehicles and detect lane change violations.
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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.
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.
Global Market for Sensor Patch – Segmental Analysis
MRFR in its report has segmented the market in into technology (GSM, 3D/2D, RFID and other), sensors types (radar sensors, image sensors, piezoelectric sensors, LiDAR sensors, magnetic sensors and others), application (electronic toll collection system, road tunnel sensors system, laser measurement systems, hot spot detection system, and others) and regions (Asia Pacific, Europe, North America and rest of the world).
Traffic Sensor Global Market – Regional Analysis
North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the traffic sensor market in North America owing to the presence of a large number of established key players such as International Road Dynamics, Inc., FLIR Systems, Inc., Raytheon Company (U.S.), and Sensys Networks, Inc. among others. Also, U.S. is leading the market in North America due to the technological advancements and increasing demand for real time monitoring of traffic situations in the region. Traffic sensor market in Asia Pacific is expected to grow at a substantial CAGR during 2017 to 2023 owing to growing population and increased urbanization in China, Japan, and India in the region. Whereas, the Europe market for traffic sensor is expected to grow at a considerable CAGR (2017-2023).
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- 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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