2018 Traffic Sensors Market research paper has been updated with new data and figure for better market understating. Report analysis the trend and forecast Traffic Sensors industry growth outlook.
Dallas, United States - May 25, 2018 /MarketersMedia/ —
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 Traffic Sensors 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.
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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 Traffic Sensors 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.
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Key Developments in the Traffic Sensors 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.
The major players include - EFKON AG, KAPSCH TRAFFICCOM AG, TRANSCORE, INTERNATIONAL ROAD DYNAMICS, INC., KISTLER GROUP, FLIR SYSTEMS, INC., TE CONNECTIVITY LTD, SWARCO AG, Q-FREE ASA, SICK AG, AXIS COMMUNICATIONS AB, RAYTHEON COMPANY, and SIEMENS AG, amongst others.
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)
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
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Companies Mentioned:
EFKON AG, Kapsch TrafficCom AG , TransCore , International Road Dynamics, Inc. , Kistler Group , Flir Systems, Inc. , TE Connectivity Ltd , SWARCO AG , Q-Free ASA , SICK AG , Axis Communications AB , Raytheon Company , Siemens AG
Contact Info:
Name: Hector Costello
Organization: Orbis Research
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Source: MarketersMedia
Release ID: 351035
