Traffic Sensor Market 2018 by Global Leaders: TE Connectivity, Kistler Group, LeddarTech, International Road Dynamics, FLIR Systems, Axis Communication, Raytheon Company, Sensys Networks

Market Research Future published a research report on “Traffic Sensor Market Research Report - Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Highlights

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 global market 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. 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.

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Latest Industry Highlights:

• Intelligent sensing algorithms specialist Seeing Machines has reportedly collaborated with the Australian government and a group of researchers to develop mechanism to develop truck crashes in the country.
• FLIR Systems, Inc. a leading manufacturer of thermal imaging cameras, components and imaging sensors has recently launched a novel thermal traffic sensor “FLIR ThermiCam™” that is based on vehicle-to-everything (V2X) technology. The sensor will allow traffic infrastructure and vehicle to communicate and feed information to a system aims to enhance pedestrian, bicyclist and motorist safety.

Key Players

The prominent players in the Global Traffic Sensor Market are – TE Connectivity Ltd. (Switzerland), Kistler Group (Switzerland), SWARCO AG (Austria), Sick AG (Germany), LeddarTech Inc. (Canada), Siemens AG (Germany) , International Road Dynamics, Inc. (Canada), FLIR Systems, Inc. (U.S.), Axis Communication AB (Sweden), Raytheon Company (U.S.), Sensys Networks, Inc. (U.S.) and among others.

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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Intended Audience

• Traffic Sensor manufacturing companies
• Product sales and distribution companies
• Government regulatory authorities
• Semiconductor companies
• Traffic sensor providers
• Research and development companies
• Market research and consulting firms
• Solution providers
• Technology standards organizations
• Technology investors
• System Integrators

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This release was published on openPR.