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Traffic Sensor market Size & Growth Report
Market is driven by increasing demand for intelligent traffic management, smart city initiatives, IoT integration, and advancements in sensor technology.
AUSTIN, TX, UNITED STATES, January 28, 2025 /EINPresswire / -- Market Size &
industry Insights
As Per the SNS Insider,“The Traffic Sensor Market was valued at USD 627.4 million in 2023 and is expected to grow to USD 1307.4 million by 2032, at a CAGR of 8.5% over the forecast period of 2024-2032.”
Smart Traffic Management and IoT Integration Fuel Rapid Growth in the Traffic Sensor Market
The rise in requirement for intelligent and effective traffic management systems is driving the growth of the traffic sensor market. Governments and urban planners are pouring more resources than ever into monitoring, managing, and optimizing traffic flows using technology to reduce congestion, improve safety, and minimize environmental degradation. Real-time data from various roadway sensors inductive loop sensors, radar, infrared, and image-based sensors that provide this data help improve traffic signal timing, and road maintenance schedules and facilitate dynamic toll pricing. This growth is being accelerated by the increasing trend towards smart cities and the connectedness of the urban infrastructure through the Internet of Things (IoT).
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SWOT Analysis of Key Players as follows:
- Axis Communication
- International Road Dynamics
- TE Connectivity
- Sick
- Q-Free ASA
- EFKON
- FLIR Systems
- SWARCO
- TransCore
- Raytheon Company
- Kistler Group
- Kapsch Traffic
- Sensys Networks
- Siemens
- LeddarTech
- Raytheon
- Siemens
Growing Vehicle Numbers and Sustainable Solutions Drive Increased Demand for Advanced Traffic Sensor Technology
The growth in the number of vehicles on the road, and the need for sustainable transportation solutions are key factors adding to the growth of advanced traffic sensor technology. As this technology has been expanded for use with autonomous vehicles, there has also been an increasing need for sensors capable of accurately and reliably detecting the various vehicles on the road and collecting related data. It helps track air quality and monitor the road, so these sensors are useful in modern smart cities as well. With cities moving towards more sustainable and real-time solutions, the need for traffic sensors is expected to grow, driven by technology developments and rising investments in smart infrastructure projects.
Image and 2D Sensors Lead Market Growth While 3D Sensors Drive Innovation in Emerging Applications
By Sensor Type: Image sensors will grow considerably during the forecast period from 2024 to 2032 supported by the demand for high-resolution, accurate, and real-time data in multiple applications, especially automotive, security, and consumer electronics sectors. With ADAS and autonomous vehicles becoming the future of the automotive domain, imaging sensors are required to offer accurate visual data to aid in navigation as well as collision avoidance and safety. These sensors are essential for features such as lane keep assist, object detection, and traffic sign recognition, which, in turn, is contributing to considerable demand in the automotive industry.
By Technology: The 2D sensors segment dominated the market in terms of revenue share in 2023, as they are widely used in imaging, security, and automotive systems where they provide low-cost and reliable sensing solutions for various industries.
The 3D sensor segment is projected to expand at the highest radar, driven by the requirement for higher accurate and low-uncertainty data, due to technological developments. With applications ranging from robotics and autonomous vehicles to augmented reality.
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KEY MARKET SEGMENTS:
By Sensor Type
Bending Plate Sensors
Piezoelectric Sensors
Inductive Loop Sensors
Acoustic Sensors
Image Sensors
Lidar Sensors
Magnetic Sensors
Infrared Sensors
Radar Sensors
Thermal Sensors
By Technology
RFID
GSM
2D Sensor
3D Sensor
Others
By Application
Vehicle Measurement and Profiling
Traffic Monitoring
Weigh in Motion
Automated Tolling (E-Toll)
North America Leads Traffic Sensor Market Growth While Asia Pacific Set for Rapid Expansion
In 2023, North America held the largest market share on account of its advanced infrastructure, the early enthusiasm of various industries towards smart traffic management technologies, and massive investments in urban mobility solutions. This market share can be attributed to the strong demand for intelligent transportation systems in the region, along with government initiatives to increase road safety and mitigate traffic congestion.
The Asia Pacific region is projected to witness the fastest development between 2024 and 2032 owing to a rising urbanization level, higher volume of traffic, and the government promoting smart city development. Since major countries such as China, India, Japan, etc., are boosting the modernization of transportation systems, it is anticipated that traffic sensors will quickly be in demand.
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Recent Developments:
-In December 2024, Axis Communications launched two new cameras for traffic surveillance: the AXIS Q1800-LE License Plate Camera and the AXIS Q1800-LE-3 License Plate Verifier Kit.
-In April 2024, TE Connectivity acquired Brazilian sensor manufacturer Sense Eletrônica Ltda, enhancing its industrial automation capabilities. The acquisition strengthens TE's presence in Latin America and accelerates growth in the industrial sensor market.
-In October 2024, FLIR launched the TrafiBot AI camera to enhance interurban traffic flow and road safety, using advanced AI for incident detection. The camera offers high-resolution video, weather-resistant durability, and seamless integration with FLIR's Cascade software.
Table of Content - Major Points Analysis
Chapter 1. Introduction
Chapter 2. Executive Summary
Chapter 3. Research Methodology
Chapter 4. Market Dynamics Impact Analysis
Chapter 5. Statistical Insights and Trends Reporting
Chapter 6. Competitive Landscape
Chapter 7. Traffic Sensor Market Segmentation, by Sensor Type
Chapter 8. Traffic Sensor Market Segmentation, by Technology
Chapter 9. Traffic Sensor Market Segmentation, by Application
Chapter 10. Regional Analysis
Chapter 11. Company Profiles
Chapter 12. Use Cases and Best Practices
Chapter 13. Conclusion
Continued...
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SNS Insider
+1 415-230-0044
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