Traffic Sensor Market by Type (Inductive Loop, Piezoelectric Sensor, Bending Plate, Image Sensor, Infrared Sensor, Radar Sensor, LiDAR Sensor, Magnetic Sensor, Acoustic Sensor, and Others), and Application (Vehicle Measurement and Profiling, Weigh in Motion, Traffic Monitoring, and Automated Tolling): Global Market Size Estimates and Forecast (2022

Code: BMIRE00026213 | Pages: 100 | Industry: Electronics and Semiconductor | Date: Sep 2022 | Type: Global

The traffic sensor market is expected to cross US$ 422.23 million in 2022 and is expected to hit US$ 902.56 million by 2030, recording a CAGR of 8.91% during the forecast period.

Traffic sensor market has been significantly growing with the high adoption of gadgets such as mobile phones, watches, and medical equipment.

The ever-increasing urban population increases the demand for efficient traffic control systems, propelling the Traffic Sensor Market forward. Congestion in cities such as New York, Shanghai, and Mumbai, among others, has become a major source of anxiety for residents. Congestion reduces the city's overall efficiency and increases economic losses. These components aid in the analysis of factors such as the number of vehicles that travelled through an area at that time, as well as vehicle length, weight, and speed. This enables officials to lessen traffic congestion on the roads.

Within the report, the traffic sensor market is segmented into type, application, and geography. By type, the market is further segmented into an inductive loop, piezoelectric sensor, bending plate, image sensor, infrared sensor, radar sensor, lidar sensor, magnetic sensor, acoustic sensor, and others. Based on application, the market is divided into vehicle measurement and profiling, weigh in motion, traffic monitoring, and automated tolling. Geographically, the market is segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Traffic sensor market is highly popular and frequently used to monitor the functioning of transportation systems, which aids in the improvement of the transportation network

Traffic sensors are used to monitor the functioning of transportation systems, which aids in the improvement of transportation network surveillance performance. The traffic sensor data is utilized to provide real-time traffic data for a variety of traffic information applications, including flow observation and estimation, travel-time estimation, and bottleneck detection. Benefits of Traffic Sensors include increased mobility by eliminating traffic delays, increased safety for motorists and road workers, simple and quick installation, cost savings from lower long-term maintenance costs, added data collection, and detection over a long distance and across different lanes. They are utilized in a variety of applications, including traffic monitoring, automated tolling, vehicle measurement and profiling, weighing in motion, and others.

Rising adoption in urbanization and population is one of the major factors accelerating market growth.

In metropolitan locations, private and professional mobility poses major problems. The expanding urbanization and population have increased traffic density levels, making commuting difficult for the general public. Furthermore, as the urban population expands, so will the volume of business conducted within cities and with commercial partners located outside of cities. As the urban population expands, so does the volume of transportation. For example, as cities' populations rise, so will traffic as firms like e-commerce, postal and logistics, and restaurant aggregators and meal delivery services expand their operations.

Traffic Sensor Market

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Recent strategic developments in the traffic sensor market

The traffic sensor market has undergone several significant developments, and a few of these have been mentioned below:

  • In August 2020, an agreement was signed between EFKON AG and Varanasi Smart City Limited (VSCL) in which EFKON India will be solely responsible for assisting Varanasi Smart City Limited (VSCL) with the design, development, implementation, and maintenance of the implementation of advance surveillance system across Varanasi for at least 5 years after Go-Live.
  • In February 2021, ETO GRUPPE develops traffic infrastructure sensors funded by the German Federal Ministry of Transportation and Digital Infrastructure (BMVI) within project ALFRIED.

The traffic sensor market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships EFKON GmbH, TE Connectivity, Teledyne FLIR LLC, Kapsch TrafficCom AG, and Kyosan Electric Mfg. Co., Ltd. are among the prominent players operating in the market.

The target audience for the report:

  • Raw material providers
  • Sensor providers
  • Electronics providers
  • Sensor-related service providers
  • Traffic-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Sensor component suppliers
  • Traffic sensor distributors and sales firms
  • End users of traffic sensor
  • Research institutes, organizations, and consulting companies

Scope of the report:

  • Type:
    • Inductive Loop
    • Piezoelectric Sensor
    • Bending Plate, Image Sensor
    • Infrared Sensor
    • Radar Sensor
    • LiDAR Sensor
    • Magnetic Sensor
    • Acoustic Sensor
    • Others
  • Application:
    • Vehicle Measurement and Profiling
    • Weigh in Motion
    • Traffic Monitoring,
    • Automated Tolling
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • EFKON GmbH
    • TE Connectivity
    • Teledyne FLIR LLC
    • Kyosan Electric Mfg. Co., Ltd.
    • Kapsch TrafficCom AG

Companies profiled

- EFKON GmbH

- TE Connectivity

- Teledyne FLIR LLC

- Kyosan Electric Mfg. Co., Ltd.

- Kapsch TrafficCom AG

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