Traffic Sensor Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Traffic Sensor Market Trends and Forecast

The future of the global traffic sensor market looks promising with opportunities in the vehicle measurement & profiling, weigh in motion, traffic monitoring, and automated tolling applications. The global traffic sensor market is expected to reach an estimated $0.58 billion by 2028 with a CAGR of 8.5% from 2023 to 2028. The major drivers for this market are 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 help in your business decisions. Sample figures with some insights are shown below.

Traffic Sensor Market by Segment

The study includes a forecast for the global traffic sensor market by traffic sensor market by product type, technology, application, and region, as follows:

Traffic Sensor Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:

• Inductive Loop
• Piezoelectric Sensor
• Bending Plate
• Image Sensor
• Infrared Sensor
• Radar Sensor
• LiDAR Sensor
• Magnetic Sensor
• Others

Traffic Sensor Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:

• RFID
• 3D/2D
• GSM
• Others

Traffic Sensor Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

• Vehicle Measurement & Profiling
• Weigh in Motion
• Traffic Monitoring
• Automated Tolling
• Others

Traffic Sensor Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Traffic Sensor Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies traffic sensor companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the traffic sensor companies profiled in this report include.

• Raytheon
• Kistler
• Siemens
• Image Sensing Systems
• Jenoptik Ag
• Q-Free ASA
• Axis Communications
• Kapsch TrafficCom

Traffic Sensor Market Insights

• Lucintel forecast that image sensor will remain the larger segment over the forecast period 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.
• Traffic monitoring is expected to remain the largest segment due to the increasing number of passenger cars on road is driving the need for advanced and optimized traffic management systems.
• 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.

Features of the Traffic Sensor Market

• Market Size Estimates:Traffic sensor market size estimation in terms of value ($B)
• Trend And Forecast Analysis:Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis:Traffic sensor market size by various segments, such as by product type, technology, application, and region
• Regional Analysis:Traffic sensor market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities:Analysis on growth opportunities in different by product type, technology, application, and regions for the traffic sensor market.
• Strategic Analysis:This includes M&A, new product development, and competitive landscape for the traffic sensor market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the traffic sensor market size?

Answer: The global traffic sensor market is expected to reach an estimated $0.58 billion by 2028.

Q2. What is the growth forecast for traffic sensor market?

Answer: The global traffic sensor market is expected to grow with a CAGR of 8.5% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the traffic sensor market?

Answer: The major drivers for this market are growing traffic volume, rising demand for real-time information system and increasing government initiatives to improve transportation infrastructure.

Q4. What are the major segments for traffic sensor market?

Answer: The future of the traffic sensor market looks promising with opportunities in the vehicle measurement & profiling, weigh in motion, traffic monitoring, and automated tolling applications.

Q5. Who are the key traffic sensor companies?

Answer: Some of the key traffic sensor companies are as follows:

• Raytheon
• Kistler
• Siemens
• Image Sensing Systems
• Jenoptik Ag
• Q-Free ASA
• Axis Communications
• Kapsch TrafficCom

Q6. Which traffic sensor segment will be the largest in future?

Answer:Lucintel forecast that image sensor will remain the larger segment over the forecast period 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.

Q7. In traffic sensor market, which region is expected to be the largest in next 5 years?

Answer: 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.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1. What are some of the most promising, high-growth opportunities for the 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)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?