Traffic Sensor Market Historical Analysis, Current Market Scenario and the Potential of the Market till 2030

The Traffic Sensor market is expected to cross US$ 422.23 million in 2022 and is expected to hit US$ 902.56 million by 2030, recording a CAGR of 8.91% during the forecast period.

The ever-increasing urban population increases the demand for efficient traffic control systems, propelling the Traffic Sensor Market forward. Congestion in cities such as New York, Shanghai, and Mumbai, among others, has become a major source of anxiety for residents. Congestion reduces the city's overall efficiency and increases economic losses. These components aid in the analysis of factors such as the number of vehicles that travelled through an area at that time, as well as vehicle length, weight, and speed. This enables officials to lessen traffic congestion on the roads.

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The List of TOP KEY PLAYERS in Traffic Sensor Market Report are -

o EFKON GmbH
o TE Connectivity
o Teledyne FLIR LLC
o Kyosan Electric Mfg. Co., Ltd.
o Kapsch TrafficCom AG

The report additionally focuses on world major leading industry players of this market providing information like company profiles, product picture, and specification, capacity, production, price, cost, revenue, and contact information. This report focuses on market trends, volume and value, regional level, and company level. This report represents the overall Traffic Sensor Market Size by analyzing historical information and future prospects till 2030.

The Traffic Sensor Market 2022 provides a complete assessment of the industry including definitions, classifications, applications, and industry chain structure, which is beneficial for companies regardless of their size and revenue. Traffic Sensor Market Survey report covering the major market insights and industry approach towards COVID-19 in the upcoming years. For each manufacturer covered, the clients will find the report complete in all aspects as it covers all key components with valuable statistics and expert opinions in all regards. This section analyses region-wise revenue and volume for the forecast period till 2030.

Scope of the report:

• Type:
o Inductive Loop
o Piezoelectric Sensor
o Bending Plate, Image Sensor
o Infrared Sensor
o Radar Sensor
o LiDAR Sensor
o Magnetic Sensor
o Acoustic Sensor
o Others

• Application:
o Vehicle Measurement and Profiling
o Weigh in Motion
o Traffic Monitoring,
o Automated Tolling

• Region
o North America
o Europe
o Asia Pacific (APAC)
o South & Central America
o Middle East & Africa

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Recent strategic developments in the traffic sensor market
The traffic sensor market has undergone several significant developments, and a few of these have been mentioned below:
• In August 2020, an agreement was signed between EFKON AG and Varanasi Smart City Limited (VSCL) in which EFKON India will be solely responsible for assisting Varanasi Smart City Limited (VSCL) with the design, development, implementation, and maintenance of the implementation of advance surveillance system across Varanasi for at least 5 years after Go-Live.
• In February 2021, ETO GRUPPE develops traffic infrastructure sensors funded by the German Federal Ministry of Transportation and Digital Infrastructure (BMVI) within project ALFRIED.

Key Highlights of the Traffic Sensor Market Research Report:
• The report summarizes the Traffic Sensor Market by stating the definition, applications, scope, it's price, supply and demand ratio, and market overview.
• Competitive landscape of all leading key players together with their business strategies, approaches, and latest Traffic Sensor market development.
• It elements market investment, opportunities, growth factors, restraints, and market risks.
• It performs a comprehensive study of emerging players in the Traffic Sensor business along with the existing ones.
• It accomplishes primary and secondary research and resources to estimate prime products, market size, and industrial partnerships of this business.

Research Objectives:
• To study and analyze the Traffic Sensor consumption by key regions/countries, product type and application, history information, and forecast during 2022-2030.
• To understand the structure of Traffic Sensor by identifying its various sub segments.
• Focuses on the key Traffic Sensor manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans within the next few years.
• To analyze Traffic Sensor with respect to individual growth trends, future prospects, and their contribution to the total market.
• To share detailed information about the key factors influencing the expansion of the market.
• To project the consumption of Traffic Sensor submarkets, with respect to key.
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions within the market.
• To strategically profile the key players and comprehensively analyze their growth strategies.

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Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

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