Intelligent Traffic Cameras to Avoid Road Accidents?

The adoption of intelligent traffic camera is increasing significantly, due to the rising incidence of road accidents. These cameras capture video sequences or images followed by high-level image processing, such as face recognition and motion analysis, and further transfer compressed video data and extracted video information through a network to concerned authorities for further analysis. These systems help public and private agencies to leverage new and existing video assets and provide the information required to avoid recurring congestion and road mishaps.

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Moreover, expansion of metropolitan areas in countries, such as Brazil, India, Mexico, and China,is increasing the frequency of traffic congestion that calls for the adoption of intelligent traffic system (ITS) solutions. Emerging nations across the globe are installing intelligent traffic cameras to reduce congestion and manage traffic flow. Due to this factor, the intelligent traffic camera market is expected to increase its value from $10,087.8 million in 2019 to $24,465.6 million by 2030. According to P&S Intelligence, these reasons will drive the market at a CAGR of 8.5% during the forecast period (2020–2030).

Globally, deployment of 2–5 megapixel (MP) intelligent traffic cameras has increased significantly, due to their widespread utilization in facial and license plate recognition. Moreover, cameras with 2–5 MP resolution offer better and sharper images in comparison to their low-resolution counterparts. Also, affordability of these cameras will fuel their demand in future. Further, the adoption of high resolution 6–8 MP intelligent traffic cameras is expected to surge, on account of wide-angle feature of these cameras helps capture images from more than one lane of the road in a single shot.

Furthermore, the Asia-Pacific (APAC) intelligent traffic camera market will showcase the fastest growth during the forecast period. This can be ascribed to the massive road network in emerging economies, such as China and India, on account of large population base in these nations. Besides, governments of these developing nations are investing heavily in the development of traffic management solutions to catchtraffic violators by installing intelligent traffic cameras.

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Thus, the escalating awareness regarding road safety and increasing support from the governmentsacross the globe to improve the transportation ecosystem will fuel the demand for intelligent traffic cameras in coming years.

Market Segmentation by Application

Surveillance
Toll Management
Traffic Management
Others
Market Segmentation by Type

2–5 Megapixel (MP)
6–8 Megapixel (MP)
Others
Market Segmentation by Product

Analog
Internet Protocol (IP)
Market Segmentation by Region

North America intelligent traffic camera market
By application
By type
By product
By country – U.S. and Canada
Europe intelligent traffic camera market
By application
By type
By product
By country – U.K., France, Germany, Russia, and Rest of Europe
APAC intelligent traffic camera market
By application
By type
By product
By country – China, India, Australia, Japan, and Rest of APAC
LAMEA intelligent traffic camera market
By application
By type
By product
By country – Brazil, Mexico, Argentina, Africa, the U.A.E. and Rest of LAMEA

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This release was published on openPR.