Traffic Sensor Market 2020: Key Players, Growth Analysis, Share, Revenue and Forecast to 2025

The traffic sensor market is characterized by the presence of several sensors types, which include inductive loops, magnetic, acoustic, radar, piezoelectric, bending plates, infrared, image, LiDAR, and thermal sensors. Amongst all, the demand for radar sensors will grow at the highest rate. Semiconductor components are generally highly affected by the environmental factors such as rain, storm, and extreme heat. However, radar sensors remain unaffected by lightning and other weather conditions such as rain, haze, and cloudy conditions. These components provide ease-of-use as compared to the other detection technologies such as image sensors, which are the key driving factors for the growth of radar traffic sensor market.

The traffic sensor market is characterized by the use of these components in various applications such as vehicle measurement & profiling, automated tolling (e-toll), and traffic monitoring. Traffic monitoring application segment is expected to witness fast growth owing to increasing requirements of these solutions in smart cities. These components are widely used in vehicle counting and vehicle motion tracking in monitoring applications. Weigh in motion technology is used to capture and record the weights of the vehicles. This makes the weighing process more efficient, majorly for commercial vehicles.

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/2503

Continuously growing urban population is increasing the need for efficient traffic management solutions, propelling the traffic sensor market growth. Congestion in cities including New York, Shanghai, Mumbai, etc., has become a major point of concern for people dwelling in these cities. Congestions reduce the overall efficiency of the city and increase economic losses. These components help the analysis of parameters such as the number of vehicles that passed through an area at that instant and length, weight, and speed of vehicles. This allows the authorities to reduce congestions on the roads.

Governments of various countries have undertaken initiatives to improve the infrastructure of the cities, aiding the traffic sensor market growth. For instance, in the fiscal year 2017 – 18, under the Digital India initiative, the Government of Indi. allocated USD 4.03 billion for the Pradhan Mantri Gram Sadak Yojana (PMGSY) and USD 9.55 billion for the National Highways Authority of India (NHAI) projects. Such initiatives are propelling the traffic sensor industry expansion into developing countries.

Get this report Customized to your requirements @ https://www.gminsights.com/roc/2503

Asia Pacific traffic sensor market is expected to hold the majority share due to the adoption of technologically-advanced systems. Growing urban population and the increasing need for real-time information systems in the region will propel the traffic sensors industry growth. Growing urban population in countries including India, China, Japan, and South Korea is increasing the strain on the traffic management solutions. This is encouraging the governments to invest increasingly in smart transportation solutions.

Key players in the traffic sensor market are Kistler Group, International Road Dynamics, Q-Free ASA, TransCore, FLIR Systems, Inc., Kapsch TrafficCom AG, SWARCO AG, EFKON GmbH, TE Connectivity, and SICK AG. The adoption of new technology at the right time has made all these major players succeed in the industry. The traffic sensor industry is characterized by strategic acquisitions and partnerships amongst the players. In April 2016, Kapsch TrafficCom declared the acquisition transportation business of Schneider Electric.

Contact us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.