Traffic Sensor Market 2018 Global Trends, Growth Factors, Sales Revenue and Forecast By Regions, Segmentation, Applications, Dynamics, Development Status And Outlook 2023

Market Research Future
Market Research Future published a research report on “Traffic Sensor Market Research Report – Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Scenario

The companies such as Raytheon Company (U.S.), Sensys Networks, Inc. (U.S.), FLIR Systems, Inc. (U.S.), TE Connectivity Ltd. (Switzerland), Kistler Group (Switzerland) are contributing the largest market revenue in the production of traffic sensor equipment. In 2015, The Sensys Networks, Inc. has went into the partnership with Verizon to provide the intelligent traffic management service such as high-resolution video delievery, 24/7 data for signal optimization, congestion mitigation and performance reporting.

In North America region, the radar sensors has huge in demand as it is integrated with advanced 3D technology. These sensors are used for accurate vehicle counting, speed and classification, lane and on/off ramp monitoring and others. These sensors provide the solution that can collect the statistical data including direction, lane, volume, occupancy, average speed, gap, headway and others. In North America region, the edge radar technology is leading in the market and growing at the constant rate. In the road traffic management applications, the edge radar technology are used for stop bar and advance detection, which is driving the traffic sensor market.

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The traffic monitoring is emerging trend and growing with the huge demand in the traffic sensors market. These monitoring offers traffic data sensors and systems for vehicle classification, axle counting, over height, and 3D vehicle profiling. While, the electronic toll collection is integrated with advanced RFID and GSM technology for the identification of traffic signals, and vehicle speed measurement.

The global traffic sensors are bifurcated into technology, sensors type, applications, and region. The technology includes RFID, 3D/2D, GSM and others. The sensors types includes LiDAR sensors, radar sensors, magnetic sensors, piezoelectric sensors, image sensors and others. The applications includes laser measurement systems, electronic toll collection system, hot spot detection system, road tunnel sensors system and others. The region includes North America, Europe, Asia Pacific and rest of the world.

The global Traffic Sensor Market is expected to grow at USD ~385 Million by 2023, at ~8% of CAGR between 2017 and 2023.

Latest Industry Highlights:

  • Intelligent sensing algorithms specialist Seeing Machines has reportedly collaborated with the Australian government and a group of researchers to develop mechanism to develop truck crashes in the country.
  • FLIR Systems, Inc. a leading manufacturer of thermal imaging cameras, components and imaging sensors has recently launched a novel thermal traffic sensor “FLIR ThermiCam™” that is based on vehicle-to-everything (V2X) technology. The sensor will allow traffic infrastructure and vehicle to communicate and feed information to a system aims to enhance pedestrian, bicyclist and motorist safety.

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.

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). 

Regional Overview

North America is expected to remain the most lucrative market for traffic sensor in 2018 and beyond. Favourable government policies and presence of leading market players is supporting the growth of the market in the region.  In addition, rapid adoption of next-gen traffic management system has been instrumental in driving the demand for traffic sensor in North America. Collection of statistical data associated with lane management, direction, average vehicle speed, traffic headway and volume occupancy has been made easier with integration of traffic sensors. During the review period, the Europe traffic sensor market is also expected exhibit at healthy CAGR. Improvement in traffic management system and increased investment in R&D activities for developed advance traffic solutions are two of the major factors influencing the market in Europe.

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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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