Traffic Sensor MarketSize and Trends

One of the key factors expected to boost the growth of global traffic sensor market is growing traffic volume. Furthermore lack of effective roadways in urban, intercity, and rural areas is major reason for high volume of traffic on road, especially in emerging economies such as India, China, and Brazil. This demands for traffic sensors to manage road traffic by minimizing congestion. Therefore, traffic sensors can be deployed to ensure optimal utilization of existing roadways. For instance, intelligent transportation systems (ITS) aimed to provide traffic analysis, electronic surveillance along with improved safety, and minimizing pollutant emissions. According to Organization Internationale des Constructeurs d'Automobiles or OICA, around 1.28 billion units of vehicles were in use in 2015 worldwide as compared to 1.23 billion vehicles in 2014. Hence, increasing vehicle parc would lead to proportional increase in road traffic. Traffic sensor is a systematic solution for the prevention of this issues.

Traffic Sensor Market Taxonomy:

Inductive loops
Infrared sensors
Piezoelectric sensors
Magnetic sensors
Image sensors
LiDAR sensors
Thermal sensors
Radar sensors
Acoustic sensors
Bending plates

On the basis of application, the global traffic sensor market is segmented into:

Traffic monitoring
Vehicle measurement and profiling
Weigh in motion
Automated tolling or e-toll

On the basis of regions, the global traffic sensor market is classified into:

North America
Europe
Asia Pacific
Latin America
Middle East
Africa

Global Traffic Sensor Market: Regional Insights

The global traffic sensor market has been segmented on the basis of regions into North America, Asia Pacific, Europe, Latin America, Middle East, and Africa. North America held the largest share in the global traffic sensor market in 2018. The U.S. is the major growth engine in North America market, owing to increasing initiatives from the U.S. government towards improvement of transportation infrastructure and implementation of intelligent transportation systems (ITS). For instance, in 2015, the America’s Surface Transportation Act or "FAST Act" was implemented, to solve road traffic congestion issues, enhance transportation within the country, improve working efficiencies in transportation systems and commercial vehicles, and minimize vehicle emissions. Further, manufacturer are also focusing on new technology to help the vehicles for traffic safety. For Instance, in July 2019, Continental announced a launch of its radar sensor technologies which will be used in the EasyMile’s EZ10 autonomous shuttle and helps to detect the vehicle’s environment within a radius of up to 200 meters.