Smart Traffic Camera Market Expected to Reach USD 32.34 Billion by 2030 | Top Players such as - Jenoptik, Flir Systems and Hikvision

According to the report published by Allied Market Research, The Smart Traffic Camera Market Expected to Reach USD 32.34 Billion by 2030 | Top Players such as - Jenoptik, Flir Systems and Hikvision. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions.

Increase in concerns related to public safety, surge in the number of vehicles and insufficient infrastructure, and development of smart cities worldwide drive the growth of the global smart traffic camera market. However, high expenses associated with equipment installation and security threats hinder the market growth. On the other hand, rise in penetration of analytics software presents new opportunities in the coming years.

Download Sample Report at: https://www.alliedmarketresearch.com/request-sample/14005

Based on application, the surveillance and traffic management segment held the largest share in 2020, accounting for more than three-fourths of the global smart traffic camera market, and is estimated to maintain its lead position during the forecast period. This is due to increase in traffic issues along with environmental issues such as accidents and air & noise pollution. However, the toll management segment is expected to manifest the fastest CAGR of 17.0% from 2021 to 2030. This is attributed to supportive government regulations toward installation of smart traffic cameras on toll booths across developing nations of Asia-Pacific and LAMEA.

Based on component, the hardware segment accounted for the highest share in 2020, accounting holding more than three-fifths of the global smart traffic camera market, and is projected to maintain its leadership position throughout the forecast period. This is due to rise in demand for hardware components among traffic offices to overcome challenges such as space constraints. However, the software segment is expected to portray the highest CAGR of 17.7% from 2021 to 2030, owing to rise in demand among the governments to improve road safety and reduce traffic congestion and parameters.

Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/14005

Based on region, Asia-Pacific, followed by Europe and North America, contributed to the highest market share in 2020, accounted for more than one-third of the global smart traffic camera market, and is projected to continue its dominant share in terms of revenue by 2030. Moreover, this region is expected to witness the largest CAGR of 15.9% from 2021 to 2030. This is due to increase in investments by governments in traffic management solutions to identify traffic violators through intelligent traffic cameras in the region.

The key players operating in the global smart traffic camera industry include Allied Vision, Axis Communications, E-Com Systems, Jenoptik, Flir Systems, Hikvision, Tattile, Imperx, Inc, Teledyne Dalsa, Siemens AG, Idemia, Motorola Solutions, Redflex Holdings, Sensys Gatso Group Ab, and Vitronic Gmbh. These players have adopted various strategies to increase their market penetration and strengthen their foothold in the smart traffic camera industry.

For Report Customization: https://www.alliedmarketresearch.com/request-for-customization/14005

Covid-19 Scenario:

● The demand for smart traffic cameras increased during the Covid-19 pandemic for tracking people who are roaming on the streets without masks in various countries and people without masks are penalized.

● Moreover, there has been surge in implementation of thermal imaging traffic cameras to detect people with high body temperature traveling on roads, metro stations, and airports.

● Many universities began research and development activities to determine the traffic safety of the cameras on roads. They researched on volume of traffic, the time pedestrians need to cross the roads, vehicles' near-misses with cyclists, and the ways to improve public transport.

Procure Complete Report (320 Pages PDF with Insights, Charts, Tables, and Figures) at: https://bit.ly/3F0sVhO

Thanks for reading this article, you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Access the full summary at: https://www.alliedmarketresearch.com/smart-traffic-camera-market-A13636

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn and Twitter

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

This release was published on openPR.