Traffic Sensor Market
Traffic Sensor Market Forecasts to 2028 – Global Analysis By Technology (2D Sensor, 3D Sensor), Application (Weigh in Motion, Traffic Monitoring), End User (Construction, Mining) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $566.00 MN |
|
Projected Year Value (2028) |
US $1,061.54 MN |
|
CAGR (2021 - 2028) |
9.4% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Traffic Sensor Market is accounted for $566.00 million in 2021 and is expected to reach $1,061.54 million by 2028 growing at a CAGR of 9.4% during the forecast period. Traffic sensors are made up of a magnetic device that detects and indicates the levels of traffic present on the road. It monitors the patterns of vehicles and their movements. It is a smart way of controlling traffic. Advanced devices, such as infrared radar, laser technique, and video detection are used to control the mobility of traffic. It evenly distributed the traffic and provides hassle-free movement on the roads. Traffic sensors can be used in areas where traffic management is difficult during peak hours. These sensors also work efficiently in the areas of intersections and bottleneck lanes.
Market Dynamics:
Driver:
Rapid urbanization and rising emphasis on road safety norms
The proportion of the urban population is increasing every day, causing traffic congestion. The increasing urbanization and population have been escalating the traffic density levels, making commuting tough for the common masses. Moreover, as the urban population grows so will the volume of business within cities and with business partners outside of cities. A higher urban population tends to increase the volume of transportation as the business grows. For example, as cities' populations grow, so will traffic as businesses such as e-commerce, postal & logistics, and restaurant aggregator & food delivery companies expand their operations.
Restraint:
High cost for the installation of nonintrusive sensors
The installation and maintenance of nonintrusive sensors, such as image sensors, microwave sensors, and acoustic sensors, do not have a major impact on road traffic and are associated with severe safety concerns. Furthermore, the cost of non-intrusive sensors is high compared to leading in road technologies such as inductive loops that provide detailed traffic flow data measurements. High costs impede widespread distribution and limit the application of non-intrusive sensors in gathering traffic information.
Opportunity:
Raising the need for transportation and personal conveyance
As the population is increasing rapidly, it is, in turn, raising the need for transportation and personal conveyance. As the traffic is increasing on the roads, the government is improving the infrastructure facilities. This becomes an opportunity for the traffic sensor market. In developing countries, such as India, the demand for traffic sensors is increasing rapidly because of increased investment in infrastructural development.
Threat:
High initial investment
The investment required for setting up an efficient traffic sensor system is difficult. The maintenance cost is also very high as the well-trained and equipped staffs are required to handle the operations. It becomes one of the threats in the traffic sensor industry and its growth.
The 2d sensor segment is expected to be the largest during the forecast period
Despite the numerous benefits of 3D sensor technology for quality traffic monitoring applications, many traffic control authorities continue to rely solely on the 2D sensor for quality control processes. While useful in a limited number of scenarios, a 2D sensor is limited in its ability to achieve full quality control, which is considered a major concern, especially in the case of multilane and heavy urban traffic congestions, where near to fully quality control is a major preference.
The radar sensors segment is expected to have the highest CAGR during the forecast period
The radar sensors segment is growing at the highest CAGR in the market. Radar sensors utilize frequency modulated continuous wave radar to identify moving and stationary objects, including cars, trucks, trains, buses, and cargo, in extreme conditions. Radar-based sensors are ideal for collision avoidance on-board mobile equipment, such as reach stackers, forklifts, and mining vehicles, or port machineries, such as carriers, handlers, and shippers.
Region with largest share:
North America is projected to hold the largest market share due to the growing traffic problems day by day due to the increase in vehicles. This owns to high infrastructural development and urbanization. The increase in the level of traffic is increasing the need for management of traffic in all the cities.
Region with highest CAGR:
The Asia Pacific is projected to have the highest CAGR due to the growing number of megacities and increasing population in developed and developing countries. As there are many developing nations in these regions, there is a large scope for the rising growth of the traffic sensors market. Many environmentally friendly campaigns are being run in the APAC region.
Key players in the market:
Some of the key players profiled in the Traffic Sensor Market include Axis Communication AB, EFKON GmbH, Ericsson , Flir Systems, Inc., Image Sensing Systems, Inc, International Road Dynamics, Inc., Jenoptik Ag, Kapsch TrafficCom AG, Kistler Group, LeddarTech Inc, Q-Free ASA, Raytheon Company, Sensys Networks, Inc, SICK AG, Siemens AG, SWARCO AG, and TE Connectivity Ltd.
Key developments:
In August 2020: An agreement between EFKON GmbH and Varanasi Smart City Limited (VSCL), where EFKON India will be solely responsible for helping Varanasi Smart City Limited (VSCL) with the design, development, implementation and maintenance of the implementation of advance surveillance system across Varanasi for a period of at least 5 years following Go-Live was signed.
In January 2020: Image Sensing Systems Inc launched the next-generation radar, RTMS Echo. The RTMS Echo radar is a powerful IoT-ready device that is easily-installable with built-in aiming guidance, auto configuration of sensor, and wireless monitoring via smart device.
In August 2018: TE Connectivity acquired ENTRELEC terminal block business from ABB which expands the company’s product portfolio and widens the consumer reach.
In January 2018: Ericsson launched a project in which the urban roads are connected to an advanced system of traffic management. It was designed especially for the city of Dallas. It has provided relief to the traffic management & control authorities.
Technologies Covered:
• 2D Sensor
• 3D Sensor
• Global System for Mobile Communication (GSM)
• Radio Frequency Identification (RFID)
Sensor Types Covered:
• Acoustic Sensors
• Bending Plate Sensors
• Image Sensors
• Inductive Loop Sensors
• Infrared Sensors
• LiDAR Sensors
• Magnetic Sensors
• Piezoelectric Sensors
• Radar Sensors
• Thermal Sensors
• Microwave Radar
• Video Image Processor
• Magnetometer
Applications Covered:
• Vehicle Measurement and Profiling
• Weigh in Motion
• Traffic Monitoring
• Automated Tolling (E-Toll)
End Users Covered:
• Aerospace and Defense
• Construction
• Mining
• Transportation
• Automotive
• Oil and Gas
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Traffic Sensor Market, By Technology
5.1 Introduction
5.2 2D Sensor
5.3 3D Sensor
5.4 Global System for Mobile Communication (GSM)
5.5 Radio Frequency Identification (RFID)
6 Global Traffic Sensor Market, By Sensor Type
6.1 Introduction
6.2 Acoustic Sensors
6.3 Bending Plate Sensors
6.4 Image Sensors
6.5 Inductive Loop Sensors
6.6 Infrared Sensors
6.7 LiDAR Sensors
6.8 Magnetic Sensors
6.9 Piezoelectric Sensors
6.9.1 Quartz
6.9.2 Ceramic
6.10 Radar Sensors
6.11 Thermal Sensors
6.12 Microwave Radar
6.13 Video Image Processor
6.14 Magnetometer
7 Global Traffic Sensor Market, By Application
7.1 Introduction
7.2 Vehicle Measurement and Profiling
7.2.1 Axle Counting
7.2.2 Vehicle Profiling
7.3 Weigh in Motion
7.3.1 Traffic Data Collection
7.3.2 Weight Enforcement
7.3.3 Weight-Based Toll Collection
7.4 Traffic Monitoring
7.4.1 Bicycle Counting
7.4.2 Vehicle Counting
7.4.3 Vehicle Motion Tracking
7.5 Automated Tolling (E-Toll)
8 Global Traffic Sensor Market, By End User
8.1 Introduction
8.2 Aerospace and Defense
8.3 Construction
8.4 Mining
8.5 Transportation
8.6 Automotive
8.7 Oil and Gas
9 Global Traffic Sensor Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Axis Communication AB
11.2 EFKON GmbH
11.3 Ericsson
11.4 Flir Systems, Inc.
11.5 Image Sensing Systems, Inc
11.6 International Road Dynamics, Inc.
11.7 Jenoptik Ag
11.8 Kapsch TrafficCom AG
11.9 Kistler Group
11.10 LeddarTech Inc
11.11 Q-Free ASA
11.12 Raytheon Company
11.13 Sensys Networks, Inc
11.14 SICK AG
11.15 Siemens AG
11.16 SWARCO AG
11.17 TE Connectivity Ltd
List of Tables
1 Global Traffic Sensor Market Outlook, By Region (2019-2028) ($MN)
2 Global Traffic Sensor Market Outlook, By Technology (2019-2028) ($MN)
3 Global Traffic Sensor Market Outlook, By 2D Sensor (2019-2028) ($MN)
4 Global Traffic Sensor Market Outlook, By 3D Sensor (2019-2028) ($MN)
5 Global Traffic Sensor Market Outlook, By Global System for Mobile Communication (GSM) (2019-2028) ($MN)
6 Global Traffic Sensor Market Outlook, By Radio Frequency Identification (RFID) (2019-2028) ($MN)
7 Global Traffic Sensor Market Outlook, By Sensor Type (2019-2028) ($MN)
8 Global Traffic Sensor Market Outlook, By Acoustic Sensors (2019-2028) ($MN)
9 Global Traffic Sensor Market Outlook, By Bending Plate Sensors (2019-2028) ($MN)
10 Global Traffic Sensor Market Outlook, By Image Sensors (2019-2028) ($MN)
11 Global Traffic Sensor Market Outlook, By Inductive Loop Sensors (2019-2028) ($MN)
12 Global Traffic Sensor Market Outlook, By Infrared Sensors (2019-2028) ($MN)
13 Global Traffic Sensor Market Outlook, By LiDAR Sensors (2019-2028) ($MN)
14 Global Traffic Sensor Market Outlook, By Magnetic Sensors (2019-2028) ($MN)
15 Global Traffic Sensor Market Outlook, By Piezoelectric Sensors (2019-2028) ($MN)
16 Global Traffic Sensor Market Outlook, By Quartz (2019-2028) ($MN)
17 Global Traffic Sensor Market Outlook, By Ceramic (2019-2028) ($MN)
18 Global Traffic Sensor Market Outlook, By Radar Sensors (2019-2028) ($MN)
19 Global Traffic Sensor Market Outlook, By Thermal Sensors (2019-2028) ($MN)
20 Global Traffic Sensor Market Outlook, By Microwave Radar (2019-2028) ($MN)
21 Global Traffic Sensor Market Outlook, By Video Image Processor (2019-2028) ($MN)
22 Global Traffic Sensor Market Outlook, By Magnetometer (2019-2028) ($MN)
23 Global Traffic Sensor Market Outlook, By Application (2019-2028) ($MN)
24 Global Traffic Sensor Market Outlook, By Vehicle Measurement and Profiling (2019-2028) ($MN)
25 Global Traffic Sensor Market Outlook, By Axle Counting (2019-2028) ($MN)
26 Global Traffic Sensor Market Outlook, By Vehicle Profiling (2019-2028) ($MN)
27 Global Traffic Sensor Market Outlook, By Weigh in Motion (2019-2028) ($MN)
28 Global Traffic Sensor Market Outlook, By Traffic Data Collection (2019-2028) ($MN)
29 Global Traffic Sensor Market Outlook, By Weight Enforcement (2019-2028) ($MN)
30 Global Traffic Sensor Market Outlook, By Weight-Based Toll Collection (2019-2028) ($MN)
31 Global Traffic Sensor Market Outlook, By Traffic Monitoring (2019-2028) ($MN)
32 Global Traffic Sensor Market Outlook, By Bicycle Counting (2019-2028) ($MN)
33 Global Traffic Sensor Market Outlook, By Vehicle Counting (2019-2028) ($MN)
34 Global Traffic Sensor Market Outlook, By Vehicle Motion Tracking (2019-2028) ($MN)
35 Global Traffic Sensor Market Outlook, By Automated Tolling (E-Toll) (2019-2028) ($MN)
36 Global Traffic Sensor Market Outlook, By End User (2019-2028) ($MN)
37 Global Traffic Sensor Market Outlook, By Aerospace and Defense (2019-2028) ($MN)
38 Global Traffic Sensor Market Outlook, By Construction (2019-2028) ($MN)
39 Global Traffic Sensor Market Outlook, By Mining (2019-2028) ($MN)
40 Global Traffic Sensor Market Outlook, By Transportation (2019-2028) ($MN)
41 Global Traffic Sensor Market Outlook, By Automotive (2019-2028) ($MN)
42 Global Traffic Sensor Market Outlook, By Oil and Gas (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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