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Global Traffic Sensors Market - Segmented by Type (Inductive Loop, Piezoelectric Sensor, Bending Plate, Image Sensor, Infrared Sensor), Application (Vehicle Measurement & Profiling, Weigh in Motion, Traffic Monitoring, Automated Tolling), and Region - Gro

Global Traffic Sensors Market - Segmented by Type (Inductive Loop, Piezoelectric Sensor, Bending Plate, Image Sensor, Infrared Sensor), Application (Vehicle Measurement & Profiling, Weigh in Motion, Traffic Monitoring, Automated Tolling), and Region - Growth, Trends, and Forecast (2018 - 2023)

The traffic sensors market is expected to register a CAGR of 7.83% during the forecast period (2018 – 2023). The report is segmented by sensors into the inductive loop, piezoelectric sensor, bending plate, image sensor, and infrared sensor. The report is also segmented by application type into vehicle measurement and profiling, weigh in motion, traffic monitoring, and automated tolling. Sensors are necessary for traffic monitoring for real-time analysis and also to capture data.

Increasing Urbanization and Population are the Major Market Driver

Globalization, population growth, and urbanization are overwhelming the transportation systems around the world, many of which were built to accommodate a fraction of the current load. To gain greater insight into the mobility patterns, cities can integrate traffic sensors that are built into the physical infrastructure using vision-based systems, vehicles as mobile sensors, and computer-aided decision-making tools that are based on specific real-world scenarios. This provides transportation managers a significantly clearer view of current situations. Cities cannot afford to make mistakes when building their transportation networks. Thus, installing traffic sensor is becoming increasingly necessary for more and more cities.

Radar Sensor Expected to Grow at High CAGR

Radar sensors are resistant to lightning and other weather conditions, such as fog, rain, or hazy conditions, compared to other detection technologies, such as image sensors, which acts as a major driving factor for the growth of the market for radar sensors. Due to the increasing purchasing power of the millennial population, there is a continuous demand for passenger cars. According to OICA, global passenger count was estimated to be 72.10 million units in 2016 and the demand is expected to continue during the forecast period. Therefore, the radar sensors are also expected to grow to monitor the traffic.

North America to Dominate the Market

North America contains some of the most urbanized landscapes in the world. In the United States and Canada, approximately 80% of the population is in the urban area. These volumes of urbanization create challenges for government to manage traffic. This high rate of the population living in urban areas makes it necessary to manage traffic with the use of traffic sensors. Automobiles in North America are expected to grow at more than 5% CAGR in the forecast period.

Key Developments in the Market

  • January 2018 - Ericsson will provide its Connected Urban Transport solution for the City of Dallas' Advanced Traffic Management System. The solution is designed to ease traffic congestion by the use of an interface to automate and facilitate systems monitoring, performance monitoring, management, and maintenance, with the ability to share data across cities and countries. The solution is expected to allow the City of Dallas to expand its knowledge about traffic issues and assist with operational decision making to improve traffic flow.

Reasons to Purchase This Report
  • Current and future traffic sensors market outlook in the developed and emerging markets
  • Analysing various perspectives of the market with the help of Porter’s five forces analysis
  • Identifying the segment that is expected to dominate the market
  • Regions that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.

1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Research Approach and Methodology
3. Executive Summary
4. Market Analysis
5. Market Dynamics
5.1 Market Overview
5.2 Factors Driving the Market
5.2.1 Increasing Urbanization and Population
5.2.2 Growing Need for Real-Time Information System
5.2.3 Government Initiatives to Modify Transport Infrastructure
5.3 Factors Restraining the Market
5.3.1 High Setup Costs
5.4 Industry Attractiveness – Porter's Five Forces Analysis
5.4.1 Bargaining Power of Suppliers
5.4.2 Bargaining Power of Consumers
5.4.3 Threat of New Entrants
5.4.4 Threat of Substitute Products or Services
5.4.5 Competitive Rivalry among Existing Competitors
6. Technology Snapshot
7. Global Traffic Sensors Market Segmentation
7.1 By Sensor Type
7.1.1 Inductive Loop
7.1.2 Piezoelectric Sensor
7.1.3 Bending Plate
7.1.4 Image Sensor
7.1.5 Infrared Sensor
7.1.6 Others
7.2 Appplication
7.2.1 Vehicle Measurement & Profiling
7.2.2 Weigh in Motion
7.2.3 Traffic Monitoring
7.2.4 Automated Tolling
7.2.5 Others
7.3 By Geography
7.3.1 North America
7.3.2 Europe
7.3.3 Asia-Pacific
7.3.4 Latin America
7.3.5 Middle East & Africa
8. Competitive Intelligence – Company Profiles
8.2 Kapsch TrafficCom AG
8.3 TransCore
8.4 International Road Dynamics, Inc.
8.5 Kistler Group
8.6 Flir Systems, Inc.
8.7 TE Connectivity Ltd
8.9 Q-Free ASA
8.10 SICK AG
8.11 Axis Communications AB
8.12 Raytheon Company
8.13 Siemens AG
*List not exhaustive
9. Investment Analysis
10. Future Outlook of the Traffic Sensors Market

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