According to the recent study the traffic sensor market is projected to reach an estimated $0.58 billion by 2028 from $0.39 billion in 2023, at a CAGR of 8.5% from 2023 to 2028. Growth in this market is primarily driven by growing traffic volume, rising demand for real-time information system and increasing government initiatives to improve transportation infrastructure.
A more than 150-page
report is developed to understand trends, opportunities and forecast in traffic
sensor market by product type (inductive loop, piezoelectric sensor, bending
plate, image sensor, infrared sensor, radar sensor, lidar sensor, magnetic
sensor, and others), technology (RFID, 3D/2D, GSM, and others), application
(vehicle measurement & profiling, weigh in motion, traffic monitoring,
automated tolling, and others), and region (North America, Europe, Asia
Pacific, and the Rest of the World).
Download sample report by clicking
on below link
https://www.lucintel.com/traffic-sensor-market.aspx
“Image sensors market is expected to
remain the largest segment during the forecast period.”
Based on product type,
the traffic sensor market is segmented into inductive loop, piezoelectric
sensor, bending plate, image sensor, infrared sensor, radar sensor, lidar
sensor, magnetic sensor, and others. Lucintel forecasts that the image sensors
market is expected to remain the largest segment due to the increasing
penetration of image sensors in vehicles for lane detection, obstacle
identification, lane distance measurement, and detection of the car behind it.
“Within the traffic sensor market, the traffic monitoring segment
is expected to remain the largest application.”
Based on application the
traffic monitoring segment is expected to witness the highest growth over the
forecast period due to the increasing number of passenger cars on road is
driving the need for advanced and optimized traffic management systems.
“North America will dominate the traffic sensor market in near
future.”
North America will
remain the largest region due to increasing investments in road transportation
infrastructure and growing need of advanced traffic sensors, which can enhance
safety, effectiveness, and reliability of existing traffic sensors.
Download Brochure of this report by clicking on https://www.lucintel.com/traffic-sensor-market.aspx.
Major players of traffic
sensor market are adopting various growth strategies like new product launches,
expansions, merger and acquisitions, partnerships, agreements, and
collaborations to expand their presence in this market. Raytheon, Kistler,
Siemens, Image Sensing Systems, Jenoptik Ag, Q-Free ASA, Axis Communications,
and Kapsch TrafficCom are among the major traffic sensor providers.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or click on this link https://www.lucintel.com/traffic-sensor-market.aspx or helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer
solutions for you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times. For further information, visit www.lucintel.com.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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