Traffic Sensor Market 2018 Global Leaders Analysis: Raytheon Company, Sensys Networks, TE Connectivity, Kistler Group, SWARCO AG, LeddarTech, Axis Communication AB

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.

Traffic Sensor Global Market - Overview

The global traffic sensor market is showing immense growth; mainly due to the increasing demand for real-time information systems and growing urbanization are the major factors responsible for driving the growth of traffic sensor market. Growing need for real time monitoring systems in order to gain information related to traffic for real time analytics is one major factor driving the growth of traffic sensor market. Technological advancements have played a major role in the development of traffic sensor market. Steep increase in the adoption of traffic sensor solutions and software is one major factor driving the growth of traffic sensor market.

Kapsch TrafficCom AG, International Road Dynamics, Inc., FLIR Systems, Inc., TE Connectivity Ltd., Kistler Group, SWARCO AG, and SICK AG are the major investors in the traffic sensor market. Growing urbanization and population is another major factor driving the growth of traffic sensor market. Also, increasing government initiatives to modify transport infrastructure is responsible for driving the growth of the market. Moreover, increasing adoption of analytics based transport solutions is expected to drive the growth of Traffic Sensor Market.

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By application, the traffic monitoring application segment is expected to hold the largest market share of the global traffic sensor market. This is owing to the increasing demand for real-time monitoring of specific situations and road areas such as toll highways and bridges. Traffic monitoring seamlessly allows real time monitoring of such situations and also provides information about road mobility and traffic in order to enhance road safety. According to a recent study report published by Market Research Future, the global market of Traffic Sensor is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023).

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.