Traffic Sensor Market Estimated to See Exponential Growth till 2028|EFKON AG,Kistler Group, Kapsch TrafficCom AG.
UNITED STATES, February 23, 2023 /EINPresswire.com/ — The new report from Coherent Market Insights, titled ‘Global Traffic Sensor Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028,’ provides an in-depth analysis of the global Traffic Sensor Market, evaluating the market based on historical and forecast market data, demand, application details, price trends, and company shares of the leading industries by geography. Market segmentation, regional information, CAGR, sales volume, and current and upcoming trends are all included in the report. The report’s purpose is to provide an in-depth study of the market’s dynamics, size, growth, and cost structure. Each sub-development market’s impact to the larger Traffic Sensor business is also evaluated.
The Traffic Sensor Market to Witness Strong Growth Due to Growing Traffic Volume
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Furthermore, the research gives a comprehensive knowledge of the market segments generated by integrating several prospects such as types, applications, and geographies. The study also discusses the key driving factors, limitations, prospective growth opportunities, and market challenges.
Market Overview:
Traffic sensors are used to collect information about road traffic for signal control. The ultrasonic Doppler Effect is used by these sensors. They identify automobiles travelling in a specific direction utilizing the Doppler Effect and the vehicle’s speed. Data collecting, automatic event detection, and traffic management are all common applications for traffic sensors. To avoid congestion in big metropolitan areas, they give data on traffic, speed, and area occupancy.
Furthermore, they aid in distinguishing between different service levels such as congestion, fluid, queue, and dense, as well as improving the efficiency of transportation networks. Traffic sensors include passive acoustic sensors, passive infrared sensors, ultrasonic sensors, microwave radar sensors, magnetometers, video image processors, laser radar sensors, and inductive-loop detectors. One of the sensors is the Inductive Loop Detector.
Top Key Players in Traffic Sensor Market:
● EFKON AG
● Kapsch TrafficCom AG
● TransCore
● International Road Dynamics Inc.
● Kistler Group
● Flir Systems Inc.
● TE Connectivity Ltd.
● SWARCO AG
● Q-Free ASA
● SICK AG
● Axis Communications AB
● Raytheon Company
● Siemens A
Detailed Segmentation:
On the basis of sensor type, the global traffic sensor market is segmented into:
-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
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Key Market Drivers:
●Rising urbanisation and the increased demand for real-time information systems are also projected to drive the traffic sensor market throughout the forecast period. For example, FLIR Systems, Inc. introduced the FLIR ThermiCam V2X, a thermal traffic sensor for the developing vehicle-to-everything (V2X) technology industry, in March 2018. The FLIR V2X allows vehicles and traffic infrastructure to interact and share data in order to improve pedestrian, motorist, and bicyclist safety and efficiency.
●Furthermore, the increase in road accidents due to the increasing number of vehicles on the road around the world is predicted to drive the growth of the traffic sensor market. According to the World Health Organization (WHO), over 1.3 million people die each year as a result of traffic accidents. Road traffic accidents are the most expensive.
COVID-19 Impact Analysis:
The epidemic has had a substantial impact on the transportation sector, but traffic volume has reduced significantly in recent months as governments throughout the world have begun ordering people to stay at home to prevent the spread of the coronavirus (COVID-19). This has resulted in fewer vehicles on the road. But, as vaccinations continue to be administered and travel restrictions are gradually relaxed, more passengers are expected to return to travel in the near future. Automobile sales are likewise expanding at a quick pace over the world. This, in turn, is likely to enhance global demand for traffic sensors, propelling market growth.
Key Takeaways:
➤Because of the increased emphasis on the development of revolutionary technologies to modify transportation infrastructure. SICK, for example, announced the launch of an all-weather 3D sensor system for traffic control in January 2018. The sensor is capable of scanning automobiles up to 100 times per second with 99% accuracy in order to produce a 3D profile of each vehicle.
➤North America and Asia Pacific are predicted to have the fastest growth in the traffic sensor market, owing to rising traffic volumes and government initiatives to improve transportation infrastructure. Traffic congestion in Mumbai, Delhi, and Bengaluru (India) has recently increased dramatically. For example, in May 2019, the Government of Karnataka (India Directorate )’s of Urban Land Transport (DULT) issued work orders to install Que-Length.
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➤Research Objectives and Assumptions
➤Market Purview
➤Market Dynamics, Regulations, and Trends Analysis
➤Traffic Sensor Market – Impact of Coronavirus (COVID-19) Pandemic
➤Traffic Sensor Market, By Form, 2017 – 2028 (US$ MN & TONS)
➤Traffic Sensor Market, By End User, 2017 – 2028 (US$ MN & TONS)
➤Traffic Sensor Market, By Distribution Channel, 2017 – 2028 (US$ MN & TONS)
➤Competitive Landscape
About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defence, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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