Traffic Sensor Market is Projected to Reach USD 385 Million and Grow at 8% of CAGR Forecast to 2023

Traffic Sensor Market 2017
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 Synopsis of Traffic Sensor Market

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 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.

The global traffic sensor market is expected to grow at USD ~385 Million by 2023, at ~8% of CAGR between 2017 and 2023.

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

 

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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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