With the anticipated target to reach US$ 1439.0 million in 2032, the traffic sensor market is anticipated to expand at a robust CAGR of 8.4% from 2022 to 2032.
Safety and reliability are two of the main factors for the increased demand for traffic sensors.
Additionally, the expansion of the Asia Pacific market is facilitated by rising government spending on smart cities and transportation infrastructure, particularly in China, Japan, and India.
| Report Attribute | Details |
|---|---|
| Traffic Sensor Market Value (2022) | US$ 645.0 million |
| Traffic Sensor Market Anticipated Forecast Value (2032) | US$ 1,439.0 million |
| Traffic Sensor Market Projected Growth Rate (2022 to 2032) | 8.4% |
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The SVS team in the United Kingdom notes that switching to multi-lane smart micro technology from a traditional loop detection system resulted in an 85% reduction in the customer's overall installation expenses.
The top line and advanced zone are simultaneously monitored by the sensor across several lanes due to the forward-firing principle. Through efficient setup programs, all detection zones are simply modifiable and adaptable to shifting traffic patterns. Moreover, above-ground sensors are very simple to install on already-existing infrastructure. That entails no costly and time-consuming roadwork or road closures.
AI is integrated with real-time sensors to replace the conventional, strict control procedures in the USA. Deep reinforcement learning (DRL) algorithms are a type of machine learning that focuses on coming up with clever answers to challenging control problems and are used by the AI.
For this, thousands of in-ground vehicle detecting magnets that improve intersection efficiency when they function properly are being fixed as part of a new program San Diego is beginning to lessen traffic congestion throughout the city. An estimated 10,000 of the city's 30,000 in-ground magnetic loops are soon to be fixed by city personnel using a more proactive approach since they are either worn out or have been harmed by construction, potholes, or storms and no longer function properly.
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Manufacturers in the traffic sensor market are concentrating on taking the lead in the creation and application of cutting-edge procedures and methods. Additionally, to provide more options for end users, manufacturers are using the ultrasonic doppler effect, optical beacons, and imaging systems.
For instance: The new Zelt Evo sensor from Traffic Technology Ltd. offers better bicycle and personal mobility device (PMD) identification and categorization. The system is based on induction loop technology, which Eco-Counter has been developing for the past 20 years.
The new Evo digital sensor enables more precise detection of other users, including scooters associated with a particular signal. The detecting loops can be mounted on any kind of surface and either dedicated or shared lanes. To enable direction recognition, multi-user classification, and count timestamps, the Zelt Evo sensor can be connected to the user's traffic data management system.
Major players are also concerned about tunnel safety, in addition to road sensors. Leaders have deployed detectors that combine thermal imaging to establish their presence in the market.
For instance, SICK is a leader in the traffic sensor market used to regulate ventilation in road tunnels. Today, in addition to the k-value, which is used to determine visibility in tunnels, the NO2 concentration increasingly takes the lead in regulating ventilation, while in some circumstances the CO2 concentration is still recorded.
Traffic sensors utilize multiple technologies including lasers, rubber hoses, video detection, piezoelectric, infrared, radar, and inductive loops, shaping the traffic sensor market trends.
The market growth is boosted by the inductive loop technology which is a commonly used technique owing to its simple structure and its advantage of being unaffected by any extreme weather conditions.
The market growth is further propelled by the installation of traffic sensors as a crucial component of traffic monitoring, facilitating the movement patterns of moving vehicles with the traffic, and improving the effectiveness of traffic management, such as jams.
The traffic sensor market opportunities are open by the players and institutions that are developing cutting-edge traffic monitoring systems due to the dramatically rising number of commercial vehicles.
For instance, the Indian Institute of Technology (IIT) in Delhi, India, finished the prototype of smart traffic monitoring systems on the campus. Moreover, owing to the presence of a number of automobiles as a result of urbanization is likely to influence the market positively.
Government initiatives towards smart infrastructure are expected to drive the traffic sensors market growth worldwide. Increasing traffic on roads, rail, air, and water is making the ways more crowded creating a need to handle the traffic more efficiently, in turn spiking the demand for the sensors during the forecast period.
Competitive pricing in sensor technology and innovative advancements in the technological sector is boosting the growth in the adoption of traffic sensors, hence enabling growth in revenue of the traffic sensor market globally.
A few factors likely to dwindle the traffic sensors market size include unnecessary delays in traffic, increased traffic congestion, air pollution, and gasoline consumption and among others.
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By 2022, North America is anticipated to be at the forefront of the traffic sensor market with a share of 34.4%.
The world's most urbanized regions are in North America. A little more than 80% of people live in metropolitan regions in the USA and Canada, facilitating the expansion of the traffic sensor market size in the region and the government faces difficulties managing traffic as a result of this amount of urbanization.
The area is actively engaged in both internal and external research and development in an effort to introduce new traffic sensor types in order to improve the efficiency, safety, reliability, and usability of its current traffic sensors and to broaden the applications for which the uses of the current products are suitable.
The presence of a number of market players and the launch of numerous products is anticipated to contribute to Europe’s traffic sensor market share of 21.9% in 2022.
For instance, the Strabag business Efkon has introduced its free-flow city tolling technology in Norway. The N-Force AVT100 product from Efkon was developed to satisfy the industry's rising expectations.
As part of the product's natural growth, Efkon concentrated on integrating technological multi-purpose services in a one-box solution with an appealing design. In a single appliance, it integrates the tasks of electronic tolling, enforcement, tracking, access-zone surveillance, and ALPR.
Startups are developing solutions to help city residents locate parking for their cars in various major centers as the number of vehicles on the road increases and a legion of start-ups are developing numerous different types of solutions, bringing about emerging trends in the traffic sensor market.
Examples:
On the other hand, the company's Sensit product uses ground parking sensors to examine occupied and unoccupied parking spaces in order to direct automobiles to their parking spots.
Since there are no dominant firms in a competitive market, it is fragmented. As a result, there is anticipated to be low market concentration, where major players are engaging in various strategies in order to consolidate their market position.
Additionally, leading players and researchers are putting the newest emerging technologies to the test for traffic monitoring.
Recent developments in the traffic sensor market are:
By using an interface to automate and expedite system monitoring, performance monitoring, management, and maintenance, as well as the capacity to share data between cities and nations, the solution is intended to reduce traffic congestion.
The remedy is anticipated to enable the City of Dallas to deepen its understanding of traffic problems and support operational decision-making to enhance traffic flow.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 8.4% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
The global traffic sensor market is likely to advance at 8.4% CAGR (2022 to 2032).
North America is projected to lead the traffic sensor market with a share of 34.4% in 2022.
The traffic sensor market is anticipated to account for US$ 1,439.0 million by 2032.
1. Executive Summary | Traffic Sensor Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyers 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2017 to 2021 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2022 to 2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Type, 2017 to 2021 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Type, 2022 to 2032 5.3.1. Infrared Sensors 5.3.2. Inductive Loops 5.3.3. LiDAR Sensors 5.3.4. Piezoelectric Sensors 5.3.5. Magnetic Sensors 5.3.6. Radar Sensors 5.3.7. Thermal Sensors 5.3.8. Acoustic Sensors 5.3.9. Image Sensors 5.4. Y-o-Y Growth Trend Analysis By Type, 2017 to 2021 5.5. Absolute $ Opportunity Analysis By Type, 2022 to 2032 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2017 to 2021 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2022 to 2032 6.3.1. Traffic Monitoring 6.3.2. Automated Tolling 6.3.3. Vehicle Middle East and Africasurement & Profiling 6.3.4. Other Applications 6.4. Y-o-Y Growth Trend Analysis By Application, 2017 to 2021 6.5. Absolute $ Opportunity Analysis By Application, 2022 to 2032 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2017 to 2021 7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2022 to 2032 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. Asia Pacific 7.3.5. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 8.2.1. By Country 8.2.1.1. United States of America 8.2.1.2. Canada 8.2.2. By Type 8.2.3. By Application 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Type 8.3.3. By Application 8.4. Key Takeaways 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Type 9.2.3. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Type 9.3.3. By Application 9.4. Key Takeaways 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. United Kingdom 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Europe 10.2.2. By Type 10.2.3. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Type 10.3.3. By Application 10.4. Key Takeaways 11. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.1.4. Malaysia 11.2.1.5. Singapore 11.2.1.6. Australia 11.2.1.7. New Zealand 11.2.1.8. Rest of Asia Pacific 11.2.2. By Type 11.2.3. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Type 11.3.3. By Application 11.4. Key Takeaways 12. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 12.2.1. By Country 12.2.1.1. GCC Countries 12.2.1.2. South Africa 12.2.1.3. Israel 12.2.1.4. Rest of Middle East and Africa 12.2.2. By Type 12.2.3. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Type 12.3.3. By Application 12.4. Key Takeaways 13. Key Countries Market Analysis 13.1. United States of America 13.1.1. Pricing Analysis 13.1.2. Market Share Analysis, 2021 13.1.2.1. By Type 13.1.2.2. By Application 13.2. Canada 13.2.1. Pricing Analysis 13.2.2. Market Share Analysis, 2021 13.2.2.1. By Type 13.2.2.2. By Application 13.3. Brazil 13.3.1. Pricing Analysis 13.3.2. Market Share Analysis, 2021 13.3.2.1. By Type 13.3.2.2. By Application 13.4. Mexico 13.4.1. Pricing Analysis 13.4.2. Market Share Analysis, 2021 13.4.2.1. By Type 13.4.2.2. By Application 13.5. Germany 13.5.1. Pricing Analysis 13.5.2. Market Share Analysis, 2021 13.5.2.1. By Type 13.5.2.2. By Application 13.6. United Kingdom 13.6.1. Pricing Analysis 13.6.2. Market Share Analysis, 2021 13.6.2.1. By Type 13.6.2.2. By Application 13.7. France 13.7.1. Pricing Analysis 13.7.2. Market Share Analysis, 2021 13.7.2.1. By Type 13.7.2.2. By Application 13.8. Spain 13.8.1. Pricing Analysis 13.8.2. Market Share Analysis, 2021 13.8.2.1. By Type 13.8.2.2. By Application 13.9. Italy 13.9.1. Pricing Analysis 13.9.2. Market Share Analysis, 2021 13.9.2.1. By Type 13.9.2.2. By Application 13.10. China 13.10.1. Pricing Analysis 13.10.2. Market Share Analysis, 2021 13.10.2.1. By Type 13.10.2.2. By Application 13.11. Japan 13.11.1. Pricing Analysis 13.11.2. Market Share Analysis, 2021 13.11.2.1. By Type 13.11.2.2. By Application 13.12. South Korea 13.12.1. Pricing Analysis 13.12.2. Market Share Analysis, 2021 13.12.2.1. By Type 13.12.2.2. By Application 13.13. Malaysia 13.13.1. Pricing Analysis 13.13.2. Market Share Analysis, 2021 13.13.2.1. By Type 13.13.2.2. By Application 13.14. Singapore 13.14.1. Pricing Analysis 13.14.2. Market Share Analysis, 2021 13.14.2.1. By Type 13.14.2.2. By Application 13.15. Australia 13.15.1. Pricing Analysis 13.15.2. Market Share Analysis, 2021 13.15.2.1. By Type 13.15.2.2. By Application 13.16. New Zealand 13.16.1. Pricing Analysis 13.16.2. Market Share Analysis, 2021 13.16.2.1. By Type 13.16.2.2. By Application 13.17. GCC Countries 13.17.1. Pricing Analysis 13.17.2. Market Share Analysis, 2021 13.17.2.1. By Type 13.17.2.2. By Application 13.18. South Africa 13.18.1. Pricing Analysis 13.18.2. Market Share Analysis, 2021 13.18.2.1. By Type 13.18.2.2. By Application 13.19. Israel 13.19.1. Pricing Analysis 13.19.2. Market Share Analysis, 2021 13.19.2.1. By Type 13.19.2.2. By Application 14. Market Structure Analysis 14.1. Competition Dashboard 14.2. Competition Benchmarking 14.3. Market Share Analysis of Top Players 14.3.1. By Regional 14.3.2. By Type 14.3.3. By Application 15. Competition Analysis 15.1. Competition Deep Dive 15.1.1. Kapsch TrafficCom AG 15.1.1.1. Overview 15.1.1.2. Product Portfolio 15.1.1.3. Profitability by Market Segments 15.1.1.4. Sales Footprint 15.1.1.5. Strategy Overview 15.1.1.5.1. Marketing Strategy 15.1.1.5.2. Product Strategy 15.1.1.5.3. Channel Strategy 15.1.2. EFKON GmbH 15.1.2.1. Overview 15.1.2.2. Product Portfolio 15.1.2.3. Profitability by Market Segments 15.1.2.4. Sales Footprint 15.1.2.5. Strategy Overview 15.1.2.5.1. Marketing Strategy 15.1.2.5.2. Product Strategy 15.1.2.5.3. Channel Strategy 15.1.3. International Road Dynamics Inc. 15.1.3.1. Overview 15.1.3.2. Product Portfolio 15.1.3.3. Profitability by Market Segments 15.1.3.4. Sales Footprint 15.1.3.5. Strategy Overview 15.1.3.5.1. Marketing Strategy 15.1.3.5.2. Product Strategy 15.1.3.5.3. Channel Strategy 15.1.4. TransCore 15.1.4.1. Overview 15.1.4.2. Product Portfolio 15.1.4.3. Profitability by Market Segments 15.1.4.4. Sales Footprint 15.1.4.5. Strategy Overview 15.1.4.5.1. Marketing Strategy 15.1.4.5.2. Product Strategy 15.1.4.5.3. Channel Strategy 15.1.5. Kistler Group 15.1.5.1. Overview 15.1.5.2. Product Portfolio 15.1.5.3. Profitability by Market Segments 15.1.5.4. Sales Footprint 15.1.5.5. Strategy Overview 15.1.5.5.1. Marketing Strategy 15.1.5.5.2. Product Strategy 15.1.5.5.3. Channel Strategy 15.1.6. TE Connectivity 15.1.6.1. Overview 15.1.6.2. Product Portfolio 15.1.6.3. Profitability by Market Segments 15.1.6.4. Sales Footprint 15.1.6.5. Strategy Overview 15.1.6.5.1. Marketing Strategy 15.1.6.5.2. Product Strategy 15.1.6.5.3. Channel Strategy 15.1.7. FLIR Systems, Inc. 15.1.7.1. Overview 15.1.7.2. Product Portfolio 15.1.7.3. Profitability by Market Segments 15.1.7.4. Sales Footprint 15.1.7.5. Strategy Overview 15.1.7.5.1. Marketing Strategy 15.1.7.5.2. Product Strategy 15.1.7.5.3. Channel Strategy 15.1.8. Q-Free ASA 15.1.8.1. Overview 15.1.8.2. Product Portfolio 15.1.8.3. Profitability by Market Segments 15.1.8.4. Sales Footprint 15.1.8.5. Strategy Overview 15.1.8.5.1. Marketing Strategy 15.1.8.5.2. Product Strategy 15.1.8.5.3. Channel Strategy 15.1.9. SICK AG 15.1.9.1. Overview 15.1.9.2. Product Portfolio 15.1.9.3. Profitability by Market Segments 15.1.9.4. Sales Footprint 15.1.9.5. Strategy Overview 15.1.9.5.1. Marketing Strategy 15.1.9.5.2. Product Strategy 15.1.9.5.3. Channel Strategy 15.1.10. Agd Systems Ltd. 15.1.10.1. Overview 15.1.10.2. Product Portfolio 15.1.10.3. Profitability by Market Segments 15.1.10.4. Sales Footprint 15.1.10.5. Strategy Overview 15.1.10.5.1. Marketing Strategy 15.1.10.5.2. Product Strategy 15.1.10.5.3. Channel Strategy 15.1.11. Axis Communications Ab 15.1.11.1. Overview 15.1.11.2. Product Portfolio 15.1.11.3. Profitability by Market Segments 15.1.11.4. Sales Footprint 15.1.11.5. Strategy Overview 15.1.11.5.1. Marketing Strategy 15.1.11.5.2. Product Strategy 15.1.11.5.3. Channel Strategy 15.1.12. Diablo Controls Inc. 15.1.12.1. Overview 15.1.12.2. Product Portfolio 15.1.12.3. Profitability by Market Segments 15.1.12.4. Sales Footprint 15.1.12.5. Strategy Overview 15.1.12.5.1. Marketing Strategy 15.1.12.5.2. Product Strategy 15.1.12.5.3. Channel Strategy 15.1.13. Image Sensing Systems, Inc. 15.1.13.1. Overview 15.1.13.2. Product Portfolio 15.1.13.3. Profitability by Market Segments 15.1.13.4. Sales Footprint 15.1.13.5. Strategy Overview 15.1.13.5.1. Marketing Strategy 15.1.13.5.2. Product Strategy 15.1.13.5.3. Channel Strategy 15.1.14. SWARCO AG 15.1.14.1. Overview 15.1.14.2. Product Portfolio 15.1.14.3. Profitability by Market Segments 15.1.14.4. Sales Footprint 15.1.14.5. Strategy Overview 15.1.14.5.1. Marketing Strategy 15.1.14.5.2. Product Strategy 15.1.14.5.3. Channel Strategy 16. Assumptions & Acronyms Used 17. Research Methodology
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Traffic Sensor Market
