Market Overview:

Traffic sensors are witnessing a rapid adoption in various parts of the world. They offer a new alternative solution for conventional traffic management systems. Traffic sensors to can help alleviate the growing traffic burden in mega-cities of the world. Governments in various countries across the globe are realizing the need for upgrading their traffic management system, which is opening application opportunities for various advanced traffic management technologies including traffic sensors. Market Research Future (MRFR) in its latest report reveals that the Traffic Sensor Market Share for traffic sensor is set to surge at a CAGR of 8% between 2017 and 2023 to reach a valuation in excess of USD 300 Mn.

The rising vehicle parc poses a critical challenge for traffic management authorities all over the world. Therefore, deployment of the best available traffic management solution is imperative. Moreover, governments in countries such as India, China, Mexico and Brazil are stepping up efforts to develop their road transport infrastructure, which is likely to reflect favorably on the Traffic Sensor Market Share. At the same time, deployment of traffic sensor ensures the optimal utilization of existing roadways. Some of the latest traffic sensors come with additional features that allow operators to effectively manage traffic flow and check discrepancies or law violations. Rapid infrastructural development and growing issues of traffic congestion has propelled the demand for traffic sensors. Using traffic sensors, operators can generate traffic data, identify vehicles and detect lane change violations.

Global Market for Sensor Patch – Competitive landscape

MRFR in its report has profiled some of the leading players functioning in the global market for traffic sensor including Kistler Group (Switzerland), Sick AG (German), Siemens AG (Germany), FLIR Systems, Inc. (U.S.), Raytheon Company (U.S.), SWARCO AG (Austria), TE Connectivity Ltd. (Switzerland), LeddarTech Inc. (Canada), International Road Dynamics, Inc. (Canada), Axis Communication AB (Sweden), and Sensys Networks, Inc. (U.S.).

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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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