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Smart Traffic Camera Market Share, Trend, Growth, Analysis And Forecast 2024-2033
Smart Traffic Camera Market Share
As per the report, the smart traffic camera market size has grown rapidly in recent years. It will grow from $11.94 billion in 2023 to $13.77 billion in 2024 at a compound annual growth rate (CAGR) of 15.4%. The smart traffic camera market size is expected to see rapid growth in the next few years. It will grow to $24.64 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%.
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Government Initiatives Fuels The Smart Traffic Camera Market
The increase in government concerns related to public safety is expected to drive the smart traffic camera market forward. The government is deeply concerned about the growing number of road accidents, injuries, and fatalities. Smart traffic cameras are devices that monitor intersections between roads and improve pedestrian safety. For instance, in June 2022, according to the World Health Organization, a United Nations government body based in Switzerland and responsible for international public health, launched the Second Decade of Action in October 2021 with the publication of the Global Plan for the Decade of Action for Road Safety 2021-30. Therefore, the increase in government concerns related to public safety is driving the growth of the smart traffic camera market.
Technological Advancements In The Smart Traffic Camera Landscape
Technological development is a key trend in the smart traffic camera market. Major companies operating in the smart traffic camera market are concentrating on creating innovative technology solutions to strengthen their position in the market. For instance, in July 2023, Mobileye Global Inc., an Israel-based system software company, launched the world's first camera-only Intelligent Speed Assist (ISA) solution, which has been tested and certified in Europe. The camera-only system is designed to help global automakers meet the new EU General Safety Regulation (GSR) standards, which require the automatic sensing of speed limits in all new vehicle models without relying on third-party maps and GPS data. The ISA system uses computer vision and machine learning to detect traffic signs and other visual signals in the surrounding environment without the need for additional sensors or map data.
The smart traffic camera market covered in this report is segmented -
1) By Component: Hardware, Software, Service
2) By Camera Type: Fixed Cameras, Mobile Speed Camera, Red Light Camera, Surveillance Camera, Traffic Monitoring Camera, ANPR Camera, Other Camera Types
3) By Deployment Model: Traffic Monitoring, Traffic Enforcement
4) By Application: Surveillance And Traffic Management, Toll Management, Other Applications
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Major companies operating in the smart traffic camera market report are Axis Communications AB; Jenoptik AG; Teledyne FLIR LLC; Hangzhou Hikvision Digital Technology Co Ltd.; Tattile S.r.l.; Sensys Gatso Group AB; Kapsch TrafficCom AG; Allied Vision Technologies GmbH; ARH Inc.; Bluecard Technologies Corp.; Canon Inc.; FLIR Systems Inc.; Hanwha Techwin Co. Ltd.; Pelco by Schneider Electric; Bosch Security Systems; Hikvision Digital Technology Co. Ltd.; VIVOTEK Inc.; Dahua Technology Co. Ltd.; Avigilon Corporation; Genetec Inc.; March Networks Corporation; IndigoVision Group plc; Verint Systems Inc.; Honeywell International Inc.; Siemens AG; Schneider Electric; Rockwell Automation Inc.; Emerson Electric Co.; Delta Electronics Inc.; Legrand North America LLC; Omron Corporation; Beckhoff Automation GmbH & Co. KG
Contents of the report:
1. Executive Summary
2. Smart Traffic Camera Market Report Structure
3. Smart Traffic Camera Market Trends And Strategies
4. Smart Traffic Camera Market - Macro Economic Scenario
5. Smart Traffic Camera Market Size And Growth
…..
27. Smart Traffic Camera Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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