Traffic Sensors

Traffic Sensors

Global Traffic Sensors Market to Reach $428.5 Million by 2027

Amid the COVID-19 crisis, the global market for Traffic Sensors estimated at US$258.1 Million in the year 2020, is projected to reach a revised size of US$428.5 Million by 2027, growing at a CAGR of 7.5% over the analysis period 2020-2027. Inductive loops, one of the segments analyzed in the report, is projected to record a 6.8% CAGR and reach US$30 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Piezoelectric sensors segment is readjusted to a revised 7.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $76.3 Million, While China is Forecast to Grow at 7% CAGR

The Traffic Sensors market in the U.S. is estimated at US$76.3 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$74.7 Million by the year 2027 trailing a CAGR of 7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7% and 6.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR.

Image sensors Segment to Record 8.1% CAGR

In the global Image sensors segment, USA, Canada, Japan, China and Europe will drive the 8.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$19.7 Million in the year 2020 will reach a projected size of US$34.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$49.4 Million by the year 2027.

Select Competitors (Total 67 Featured) -

• AGD Systems Ltd.
• Axis Communications AB
• Diablo Controls Inc.
• Efkon AG
• FLIR Systems, Inc.
• Image Sensing Systems, Inc.
• International Road Dynamics, Inc.
• Jenoptik AG
• Kapsch TrafficCom AG
• Kistler Group
• LeddarTech Inc.
• Miovision Technologies Inc.
• Q-Free ASA
• Raytheon Company
• Sensys Network, Inc.
• SICK AG
• Siemens AG
• SWARCO AG
• TE Connectivity Ltd.
• TransCore

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