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Traffic Sensors Market - By Sensors Type (Piezoelectric, Imaging Sensor, Bending Plate, Inductive Loop, Magnetic, Acoustic, Infrared), By Technology, By Application (Traffic Monitoring, Automated Tolling, Weigh-in-Motion, Vehicle Measurement & Profiling) & Forecast – 2032

  • Report ID: GMI7099
  • Published Date: Oct 2023
  • Report Format: PDF

Traffic Sensors Market Size

Traffic Sensors Market was valued at USD 623 million in 2022 and is estimated to register a CAGR of over 10% between 2023 and 2032.

 

Traffic Sensors Market

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The traffic sensor industry is influenced by several growth factors. Governments and municipalities around the world are investing in smart city projects to improve urban infrastructure, traffic management, and sustainability. Traffic sensors play a critical role in these initiatives, aiding in traffic flow optimization and congestion management. The increasing traffic congestion and the need to enhance road safety are the major concerns. Traffic sensors are used to monitor and manage traffic flow, detect accidents, and control traffic signals, contributing to safer roadways.
 

For instance, in June 2023, Hexagon’s Safety, Infrastructure & Geospatial division and Fujitsu Limited announced the joint development of digital twin applications for predicting & mitigating natural disasters and traffic accidents. The two companies aim to develop solutions that realize resilient, disaster-resistant cities based on an alliance formed in June 2022. Rapid urbanization leads to increased vehicular traffic in cities. Traffic sensors address the challenges associated with urban congestion and ensure efficient transportation systems.
 

One of the primary restraints in the traffic sensor market is the high initial cost associated with deploying advanced sensor technologies and infrastructure. Implementing a comprehensive network of traffic sensors, particularly in smart city projects, requires significant investments in hardware, software, and installation. This cost can be a barrier for some municipalities and organizations, slowing down adoption.
 

COVID-19 Impact

The COVID-19 pandemic disrupted global supply chains including the traffic sensor industry. Shutdowns and restrictions affected the manufacturing and delivery of sensor components, leading to delays in project timelines and potential shortages. It also raised concerns about the resilience of the industry supply chain.
 

Traffic Sensors Market Trends

The adoption of edge computing and real-time analytics is a growing trend in the traffic sensor market. Instead of sending all data to a central server, edge computing processes data closer to the source (i.e., at the sensor or in nearby edge devices). This trend reduces latency, enhances responsiveness, and enables real-time decision-making for traffic management, allowing for faster response to traffic incidents and congestion. Their benefits and gradual adoption in various industries will boost market growth in the coming years.
 

Traffic Sensors Market Analysis

Traffic Sensors Market Size, By Sensors Type, 2021-2032, (USD Million)

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Based on sensor type, the market is divided into piezoelectric, imaging sensor, bending plate, inductive loop, magnetic, acoustic, infrared, and others. The piezoelectric segment dominated the market with a share of over 20% in 2022. Piezoelectric sensors are often embedded in road surfaces to detect the presence of vehicles and classify them based on factors such as size and weight. This information is valuable for traffic management, vehicle counting, and road safety. Piezoelectric sensors can be used in combination with other technologies to measure vehicle speeds. These sensors capture the time it takes for a vehicle to travel between two sensor-equipped points on the road, allowing for speed calculations. Piezoelectric sensors are ideal for monitoring the load and weight distribution of vehicles. They are commonly used at weigh stations and toll booths to ensure that vehicles comply with weight regulations.
 

Traffic Sensors Market Share, By Technology, (2022)

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Based on technology, the market is divided into 2D, 3D, RFID, GSM, and others. The 2D segment dominated the global market with a share of over 28% in 2022 and is estimated to reach over USD 600 million in revenue by 2032. The segment involves the use of 2D vision technology for traffic monitoring and management. This technology relies on cameras and image recognition to capture & analyze traffic conditions. 2D cameras are used to monitor traffic flow, congestion, and incidents in real-time. They provide valuable data for traffic management and planning. 2D cameras are often used at intersections to optimize traffic signal control and improve the safety & efficiency of traffic flow. In some regions, 2D technology is used for speed enforcement, capturing images of speeding vehicles for enforcement purposes.
 

U.S. Traffic Sensors Market Size, 2021-2032, (USD Million)

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North America dominated the global traffic sensors market with a share of over 35% in 2022. In North America, traffic sensors are used extensively to monitor, manage, and optimize traffic flow, enhance safety, and support smart city initiatives. These sensors come in various types and are deployed in different applications. They play a crucial role in managing and optimizing transportation systems across the continent. With densely populated urban areas, extensive road networks, and a diverse range of transportation modes, traffic sensors are instrumental in monitoring traffic flow, reducing congestion, and enhancing safety. Smart city initiatives in major metropolitan, areas such as New York, Los Angeles, and Toronto, are utilizing advanced sensor technologies to improve traffic management and the overall urban mobility, fueling their adoption.
 

Traffic Sensors Market Share

EFKON AG is a leading Austrian technology company that specializes in providing intelligent transportation systems (ITS) solutions, including various technologies related to traffic management and sensors. While EFKON is known for a wide range of ITS solutions, traffic sensors are an essential component of their offerings. These sensors are designed to monitor and collect data on traffic flow, vehicle counts, speed, and various other parameters. Inductive Loop Detectors: These sensors are embedded in the road surface and detect the presence of vehicles by measuring changes in inductance. Radar-based sensors use radio waves to detect the speed and presence of vehicles. They are often used for speed monitoring and traffic data collection. Laser sensors provide precise measurements of vehicle speed, length, and distance.Video and Camera-Based Sensors EFKON may also offer video-based sensors and cameras for traffic monitoring, which can provide visual data for various traffic management and safety applications.. Some major players operating in the traffic sensors industry include:

  • Efkon AG
  • Axis Communications AB
  • FLIR Systems
  • International Road Dynamics Inc
  • Kapsch Trafficcom AG
  • Kistler Group
  • Leddartech

Traffic Sensors Industry News

  • In July 2022, FLIR Systems, Inc. a leading provider of intelligent sensing solutions for defense, industrial, and commercial applications, launched its new TrafiOne smart traffic sensor. TrafiOne is a compact and affordable sensor that provides real-time traffic data and analytics to help cities and businesses improve traffic flow, reduce congestion, and enhance safety.
     

The traffic sensors market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) and volume (Units) from 2018 to 2032, for the following segments:

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Market, By Sensors Type

  • Piezoelectric
  • Imaging sensors
  • Bending plate
  • Inductive loop
  • Magnetic
  • Acoustic
  • Infrared
  • Others

Market, By Technology

  • 2D
  • 3D
  • RFID
  • GSM
  • Others

Market, By Application

  • Traffic Monitoring
  • Automated Tolling (E-Toll)
  • Weigh-in-Motion
  • Vehicle Measurement and Profiling
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Taiwan
    • Australia
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America 
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA

 

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Market size for traffic sensors reached USD 623 million in 2022 and is projected to witness over 10% CAGR from 2023 to 2032 attributed to the rising investments from governments and municipalities in smart city projects to improve urban infrastructure, traffic management, and sustainability.
Piezoelectric traffic sensors market held over 20% revenue share in 2022 owing to their increasing usage on road surfaces to detect the presence of vehicles and classify them based on size or weight.
North America held more than 35% revenue share of the traffic sensors industry in 2022 and is estimated to record robust growth through 2032 attributed to extensive use to monitor, manage, and optimize traffic flow, enhance safety, and support smart city initiatives.
Some of the major traffic sensor companies are Efkon AG, Axis Communications AB, FLIR Systems, International Road Dynamics Inc, Kapsch Trafficcom AG, Kistler Group, and Leddartech.

Traffic Sensors Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 14
  • Tables & Figures: 297
  • Countries covered: 22
  • Pages: 300
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