Traffic Sensor Market Research Report with Revenue, Gross Margin, Market Share and Future Prospects
Traffic sensors are used for traffic management, automatic incident detection, and data collection. Traffic sensors provide standard data regarding traffic, speed, and area occupancy, which are helpful to avoid congestion in the large metropolitan areas. Moreover, these sensors helps to accurately measure average flow speed, which helps to distinguish different service levels such as dense, congestion, queue, and fluid. Traffic sensors improves the efficiency and capacity of transportation networks.
Inductive-loop detectors, video image processors, magnetometers, laser radar sensors, microwave radar sensors, ultrasonic sensors, passive infrared sensors, and passive acoustic sensors are types of traffic sensors. Application of these sensors includes incident detection, traffic signal control, mainline control, and measurement of vehicle volume.
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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.
raffic Sensor Market: Regional Insights
The global traffic sensor market has been segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America accounted for the largest share in the global traffic sensor market in 2016. 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, the America’s Surface Transportation Act or “FAST Act” was implemented in 2015 to solve road traffic congestion issues, enhance transportation within the country, improve working efficiencies in transportation systems and commercial vehicles, and minimize vehicle emissions.
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