Global Traffic Sensor Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028.

Traffic sensors are highly adapted to monitor the operation of transportation systems that aids in enhancing the performance of transportation network surveillance. It is also used to gather road traffic data for signal control, and also transfer that data to the vehicle information and communication system center (VICS Center). Traffic sensors help in monitoring traffic and its flow, profiling, classification & identification, vehicle measurement, automated & electronic tolling, weigh-in-motion, and many others. The rising focus on promoting road safety awareness, increasing investments in building extensive and efficient transport infrastructure, coupled with rapid urbanization is the primary factors that are surging the market demand across the globe. In addition, the growing need to deploy real-time information systems in transport infrastructure, growing population, and integration of intelligent transport systems with loT and AI technologies is further accelerating the market growth. For instance, according to The International Bank for Reconstruction and Development (IBRD), there are more than 50% of the population lives in urban areas worldwide and the amount will increase by 1.5 times to 6 billion by 2045. Accordingly, the rising urban population is fueling the traffic sensor demand because of increased traffic density and the establishment of new residential areas along roadsides. However, high installation cost and indispensable prerequisites of non-intrusive sensors and deterioration of road pavements and traffic disruptions during installation and maintenance of traffic sensors impede the growth of the market over the forecast period of 2022-2028. Also, the growing focus on integrating ITS with loT and AI technologies and increasing adoption of electric and autonomous vehicles as new modes of transportation are anticipated to act as a catalyzing factor for the market demand during the forecast period.

The key regions considered for the global Traffic Sensor market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the rising investments in infrastructural developments projects and rising disposable income, and technological developments in traffic sensors. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the escalating population in developing and developed nations, as well as, rapid urbanization, would create lucrative growth prospects for the Traffic Sensor market across the Asia-Pacific region.

Major market players included in this report are:

Kapsch TrafficCom AG

International Road Dynamics, Inc.

FLIR Systems, Inc.

TE Connectivity Ltd.

SWARCO AG

Sick AG

Axis Communication AB

Raytheon Company

Kistler Group

Siemens AG

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Sensor Type

Piezoelectric Sensors

Bending Plate Sensors

Inductive Loop Sensors

Magnetic Sensors

Acoustic Sensors

Infrared Sensors

Image Sensors

Radar Sensors

Lidar Sensors

Thermal Sensors

By Technology

2D Sensor

3D Sensor

RFID

GSM

Others

By Application

Vehicle Measurement and Profiling

Weigh in Motion

Traffic Monitoring

Automated Tolling (E-Toll)

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Traffic Sensor Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors