sales@reportocean.com (Bussiness Sales)
+18882123539 (Us - Toll Free)
+919997112116 (Rest Of World)
Traffic Sensor Market Size, Share & Trends Analysis - Global opportunity analysis and industry forecast 2030

Traffic Sensor Market Size, Share & Trends Analysis - Global...

Home / Categories / Information & Communications Technology
Traffic Sensor Market Size, Share & Trends Analysis - Global opportunity analysis and industry forecast 2030
Traffic Sensor Market Size, Share...
Report Code
RO14/128/2031

Publish Date
05/Apr/2022

Pages
210
PRICE
$ 4570 /-
$ 5450 /-
$ 7695 /-

The global traffic sensor market size was US$ 561.5 million in 2021. The global traffic sensor market is forecast to grow to US$ 1045.1 million by 2030 by registering a compound annual growth rate (CAGR) of 7.8% during the forecast period from 2022 to 2030.

Factors Influencing the Market

  • Traffic sensors are getting substantial traction, owing to the rapidly growing transportation volume and initiatives by government bodies for improving city infrastructure. For instance, the European Commission is testing new ways to enhance Europe's transportation infrastructure.
  • There is a shortage of effective highways in developing economies like growing economies, such as India, China, and Brazil. As a result, it creates excessive road congestion, which will surge the demand for traffic sensors during the forecast period. 
  • Ever-increasing urban population is expected to benefit the traffic sensors market. In addition to that, various corporations are testing advanced technology for traffic monitoring. For instance, the Texas Advanced Computing Center (TACC) researchers started testing traffic monitoring through AI technology. The success of these trials will benefit the global traffic sensor market. 

COVID-19 Impact Analysis

The COVID-19 pandemic has been a challenging situation for the government authorities in various economies. Due to this global emergency, various authorities imposed strict lockdown to comply with the severity of the situation. It also restricted people from traveling even in the cities. As a result, reduced traffic was observed on the roads and highways. Thus, it declined the demand for traffic sensors. 

Regional Analysis

North America is forecast to emerge as the largest market for traffic sensors in terms of geography. It is owing to the growing industrialization in the United States and Canada. Furthermore, growing spending on enhancing the road infrastructure is forecast to benefit the traffic sensor market. 

The Asia-Pacific market for traffic sensors is forecast to grow at a significant rate, owing to the vital contribution of emerging economies, such as China, Japan, India, Australia, and South Korea. Furthermore, growing infrastructure development will open a lot of doors for the traffic sensors market growth. In addition to that, the growing population in India, China, and Japan and rising urbanization in these countries will benefit the global traffic sensor market. The market is also witnessing lucrative growth opportunities in the region due to the growing adoption of an automated technology. 

Competitors in the Market

  • Axis Communications AB
  • FLIR Systems
  • International Road Dynamics Inc
  • Kapsch Trafficcom AG
  • Kistler Group
  • Leddartech
  • Q-Free ASA
  • Raytheon Company
  • Sensys Networks
  • Sick AG
  • Siemens
  • Swarco AG
  • TE Connectivity Ltd.
  • Transcore
  • Other Prominent Players

Market Segmentation

The global traffic sensor market segmentation focuses on Sensor, Technology, Application, and Region. 

By Sensor

  • Piezoelectric
  • Bending Plate
  • Inductive Loop
  • Magnetic
  • Acoustic
  • Infrared
  • Image
  • Radar
  • Lidar
  • Thermal

By Technology

  • 2D
  • 3D
  • RFID
  • GSM
  • Others

By Application

  • Vehicle Measurement and Profiling
  • Weigh-in-Motion
  • Traffic Monitoring
  • Automated Tolling (E-Toll)

By Region

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • Western Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
  • Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
  • Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
  • South America
  • Brazil
  • Argentina
  • Rest of South America

OUR CLIENTS

500 N Michigan Ave, Suite 600, Chicago, Illinois 60611, UNITED STATES
+18882123539
sales@reportocean.com