Vehicle Speed Monitoring System Market Overview 2022-2032
A CAGR of 19.5% is expected of the global vehicle speed monitoring system market, due to the growing demand during the forecast period. It is anticipated to be appraised at US$ 157.01 Bn by 2032, up from US$ 26.44 Bn in 2022.
Vehicle Speed Monitoring System Market Size (2022)
US$ 26.44 Bn
Vehicle Speed Monitoring System Market Size (2032)
US$ 157.01 Bn
Vehicle Speed Monitoring System Market CAGR
Several industry companies are well-known across the world for providing OEMs with innovative but cost-effective automotive solutions. These market competitors are motivated by a committed workforce that has led them to partner with top automobile manufacturers through solutions that help them stay ahead of the curve. Most new and existing organizations, enterprises, and industries throughout the world now rely on data centers and server rooms. The necessity of the hour is for smart and secure data centers. These important rooms require continual attention and upkeep. This is where monitoring solutions offered by key players enter the mix and give excellence in service, which is expected to surge the adoption of vehicle speed monitoring system. Environmental risks in a data center or server room, according to a report, have the potential to do more harm than traditional software or hardware flaws. If the server room/data center overheats or is damaged by water, every IT system becomes inoperable. As a result, monitoring device firms profit from the effective delivery of device protection in today's corporate environment.
They provide a comprehensive monitoring solution for a company's whole administration. Overall, their monitoring gadgets ensure that corporate operations run smoothly and consistently. It may help in monitoring various physical variables such as temperature and humidity, minimizing data loss that might be damaging to any organization's profit scale, and protecting machinery by removing calibration and fluctuation concerns. These aspects contribute to the vehicle speed monitoring system market growth. Furthermore, market participants provide unified server room solutions via KVM switches, LCD consoles, and KVM extenders. This enables end users to control every aspect of their server room from their desks. Furthermore, companies may quickly scale these solutions to meet the expanding demands of their firm.
A moving violation recorder (MVR) is a speed-measurement device designed for installation inside police vehicles. Using the equipment, traffic cops may assess vehicle speeds and enforce speed restrictions while doing routine traffic enforcement responsibilities. This little speedometer is intended to help officers make quick and accurate choices when stopping irresponsible and/or speeding motorists. A significant player's traffic data logger (TDL) provides accurate, dependable, high-speed Weigh-In-Motion (WIM) data. Such information offers authorities solid statistics that they may use to monitor the damage factor on road network systems and then implement road design and restoration plans. TDL data is utilized for a variety of purposes, including road pavement design and planning, estimating pollution levels in tunnels based on real vehicle weights, axle load monitoring, and screening, and documenting relative load shifts. These factors are likely to determine the expansion of the vehicle speed monitoring system market size.
In order to monitor axle loads, the TDL basically gathers data from inductive loops and sensors that are either put on top of the road surface (for portable applications) or mounted on the pavement in stainless steel pans (for permanent sites). The road sensors can detect up to four traffic lanes. It then combines the sensor data into a default data string that includes vehicle data like number, chassis height, speed, length, class, number of axles, and axle weight, as well as data like weight violations, bridge overloading, arrival date, and time, lane number, travel direction, trailer present, and so on. The saved data can be retrieved via the instrument display, printed on paper, or sent to a computer through an RS232 connection or modem, thus, implementing the adoption of vehicle speed monitoring system. These renowned major firms are pioneers in the development and delivery of end-to-end solutions for a wide variety of traffic safety enforcement applications. This comprises fixed and mobile technologies for use on the road, as well as a world-class back office system capable of handling and processing all types of criminal and civil offenses. All these factors are anticipated to expand the global vehicle speed monitoring system market size.
Global Vehicle Speed Monitoring System Market Dynamics
The value chain of vehicle speed monitoring system consists of equipment provider, assemblers, software providers, retailers and distributors. The market of global Vehicle Speed Monitoring System is anticipated to be driven by many factors such as increasing vehicular traffic in highways and GPS navigation.
Also these systems helps to catch hold the drivers who are driving above a particular speed limit. All the governing bodies of different geographical regions are enforcing the vehicle speed monitoring system in their respective areas.
However, global vehicle speed monitoring system have some restraints such as the system is very cost-infusive and overdependence on technology.
Global Vehicle Speed Monitoring System Market Segmentation
The global Vehicle Speed Monitoring System market is segmented on the basis of type of technology such as microwave RADAR-based systems, laser-based systems, ultrasonic-based systems, camera–based monitoring system, intrusive sensors & road tubes, radio frequency identification transponders and satellite-based road traffic monitoring, Anisotropic magneto-resistive magnetic sensors and others.
On the basis of application, global vehicle speed monitoring system is divided into fleet monitoring, vehicle scheduling, route monitoring, driver monitoring and accident analysis. On the basis of end users, global vehicle speed monitoring is divided into government bodies and other professional industry.
Global Vehicle Speed Monitoring System Market: Regional Outlook
Geographically, the Global Vehicle Speed Monitoring System industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. North America has been the first adopter of the vehicle speed monitoring system in 2014, followed by North America and Asia-Pacific.
However, with pace of time, the usage of Collision Mitigation System has increased in North America, Asia-Pacific and Rest of the World. North America is highly expected to exceed that of Europe by 2016 in the Collision Mitigation System Market and will hold a larger market share by 2026.
Global Vehicle Speed Monitoring System Market Players
The major players identified across the value chain of global Vehicle Speed Monitoring System market includes Pricol limited, Datazone Systems LLC, Fleetmatics Development Limited, Truvelo Manufacturers, Traffic Technology Ltd., MOTO Safety, AIRCO Auto Instruments, Technopurple, SMG Security Systems Inc., Ideal Solutions Company and many others.
The companies are emphasizing on research and development and new product development in order to maintain the competitive advantage in global vehicle speed monitoring system market during the forecast period.
In order to meet the increasing demand of vehicle speed monitoring system, companies all over the world are looking for speed monitoring system certification in order to expand the product portfolio and increase the sales strategies.
The companies are also focusing on different strategies in order to maintain the market share in the global vehicle speed monitoring system market.
The Report covers exhaustive analysis on
- Vehicle Speed Monitoring System Market Segments
- Vehicle Speed Monitoring System Market Dynamics
- Historical Actual Market Size, 2013 – 2015 for Global Vehicle Speed Monitoring System Market
- Vehicle Speed Monitoring System Market Size & Forecast 2016 to 2026
- Supply & Demand Value Chain
- Vehicle Speed Monitoring System Market Current Trends/Issues/Challenges
- Competition & Companies involved in Global Vehicle Speed Monitoring System Market
- Value Chain
- Global Vehicle Speed Monitoring System Market Drivers and Restraints
Regional analysis for Global Vehicle Speed Monitoring System Market includes
- North America
- US & Canada
Brazil, Argentina & Others
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.