Traffic Sensor Market is estimated to be valued USD 809 million by 2026, at a CAGR of 7.4% | EFKON (Austria), Siemens (US), International Road Dynamics (Canada), Kapsch TrafficCom (Austria), and Q-Free ASA (Norway).

Traffic Sensor Market by Type (Inductive Loop, Piezoelectric Sensor, Bending Plate, Image Sensor, Infrared Sensor, Radar Sensor, LiDAR Sensor, Magnetic Sensor, Acoustic Sensor, Thermal Sensor), Technology, Application, and Region - Global Forecast to 2026

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“Traffic sensor market projected to grow at 7.4% CAGR during the forecast period”

The traffic sensor market is estimated to be valued at USD 566 million in 2021 and reach USD 809 million by 2026, at a CAGR of 7.4% between 2021 and 2026. The growing need for real-time information system, and government initiative to upgrade transport infrastructure are the key factors driving the growth of the market. Likewise, growth in cycling infrastructure leading to higher adoption of bicycle counting sensors in traffic sensor market is expected to create lucrative opportunities for the players in the traffic sensor market. However, high cost and fulfilment of fundamental requirements for the installation of non-intrusive sensors are expected to restraint market growth.

Imaging sensor will have the highest growth in coming years

Image sensor is expected to account the largest share of the overall traffic sensor market by 2026. By image sensor the images are seen from the cameras located beside or upon the road. Moreover, the images seen from the camera located in the vehicle can be used for detection of the car behind it, measuring the distance of the following vehicle from it, detection of obstacle, and detection of lane. This traffic image sensor can be built into a traffic signal controller because of its compact size. Image sensor offers high sensitivity even in poor light conditions also, this image sensor possesses high speed imaging capabilities which offers better daytime imaging performance.

2D segment is expected to hold the largest share in 2026

Despite the numerous benefits of 3D sensor technology for quality traffic monitoring applications, many traffic control authorities continue to rely solely on 2D sensor for quality control processes. While useful in a limited number of scenarios, 2D sensor is limited in its ability to achieve 100% quality control, which is considered a major concern, especially in case of multilane and heavy urban traffic congestions, where near to 100% quality control is a major preference. Due to these reasons, although the 2D sensor will continue to dominate the traffic sensor market.

APAC is attributed to grow at the highest CAGR in overall traffic sensor market during the forecast period (2021-2026)

APAC is expected to grow at the highest CAGR in the overall traffic sensor market. The fastest growth of the APAC traffic sensor market is expected to be driven by the increasing number of mega cities and growing population in developed and developing countries.

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This release was published on openPR.